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QFA or CIP insurance exams?

  • 09-09-2013 11:41pm
    #1
    Contrails
    Registered Users, Registered Users 2 Posts: 181 ✭✭


    Hi,
    I'm in college (studying something not specifically related to finance but does touch on many areas of business) and I am interested in taking on some other studies to give myself an edge when I graduate.

    At this point i'm equally interested in going for either the APA/CIP insurance qualification OR the QFA exams for the Financial advice diploma. The only thing is is I dont know which would be more beneficial. Which industry would have more opportunities? Better prospects? More enjoyable? More manageable exams? etc.

    If anyone has chosen either of these routes or can comment in any way I would appreciate it greatly.
    Tagged:


Comments

  • #2
    Contrails
    Registered Users, Registered Users 2 Posts: 181 ✭✭Contrails


    Anyone have a suggestion? Or would this be better off in another forum?


  • #3
    Tramps Like Us
    Registered Users, Registered Users 2 Posts: 1,066 ✭✭✭Tramps Like Us


    OP I am in a similar position, what did you decide on in the end? I'm interested in compliance long term so I'm thinking QFA, then the Diploma in Compliance


  • #4
    kencoo
    Registered Users, Registered Users 2 Posts: 212 ✭✭kencoo


    In a nutshell QFA are exams for those who work in banking. APA/CIP are the insurance exams. Both are the basic starting point for professionals working in those industries and are mandatory for all/most customer facing staff.
    if you are passing exams at degree level you should not be under alot of pressure to succeed however they get progressively harder to chartered level which is as tough as any final year business degree course.
    They are similar industries and it really depends on where you see yourself. Insurance will allow you more power with less restrictions early in your career. I guess there is more paperwork in banking. Both will have poor enough pay (25k or so) for the first few years but once you have experience it improves alot.
    Given the nature of the risk there is probably more necessary overseas travel in insurance if thats what you fancy (beware as you may not want this in your 30s!).

    Compliance is probably going to be a huge industry for the future. With experience the jobs are well paid and its hard to find qualified people so you should be in demand. The hours can be long though (50 hrs + per week) and you could have alot on your plate. Personally id hate it.

    There are a few areas i would focus on if i was starting out. Chartered accountancy is a great career starter - you dont have to work in accountancy forever - just get the qualification - (dont take my word for it just look up any blue chip board members and you ll find them.)

    Alternatively try looking at Chartered Company Secretary - gives you a chair at the boardroom.


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