Anyone a Chartered Financial Analyst (CFA)?

[stalian999]

Having some trouble getting a job with graduation being in May. The way the market is going isnt helping either. I'm a Finance major with a double minor in entrepreneurship and leadership at the University of Florida. I had an extended chat with one of my professors and he talked me into pursuing the CFA level 1 designation for the June 2008 test. I'm looking into getting into some type of portfolio/fund management later down the road. I have not heard of many undergraduate taking their CFA and he explained that this would really impress employers and help in getting a job. What do you think?

For those that have their CFA, what exactly do you for a living? I know that their is many uses with it.

Thanks

 

[Quadcammer]

the CFA is a VERY strenuous process. They recommend about 250 to 300 hours of studying per test. The level one is extremely challenging to weed out the unqualified. Not only is there a lot of modern portfolio theory in there, but you also have a bunch of ethics questions, which aren't easy.

You can ABSOLUTELY not take this lightly.

As to your job search, the CFA level 1 probably won't help much. It shows that you have some finance knowledge, but the best thing would be to get an entry level financial analyst job, and work your way from there.

You should be able to get a job of that type with a b.s. in finance from florida. Try Raymond James Financial Services if you want to stay in Florida.

Have you considered working for about 2 years and getting an MBA?

Im getting my MBA part time at Stern while working full time. It was the best compromise to me.

CFA is a great thing to have, but without experience, it will not open many doors.

Further, you can not achieve a CFA charter without having 4 or 5 years of portfolio management experience.

 

[stalian999]

I would be studying through a review company. I feel that having some of these theories fresh in my mind from school can help me out. A plus side to doing it now is I can get sponsored by a professor with a CFA and the total cost will be 220 dollars for registration instead of 1400 which is full price.

Ive applied for many analyst jobs but am having trouble even getting interviews. I have a respectable 3.6 gpa so I dont think they poses a problem.

In response to your last statement, Level 1 can be taken in the last year of your four year degree or with 4 years of experience. To take levels 2 and 3 to complete the charter, you must be sponsored by your employer and have the relevant experience.

 

[Quadcammer]

I would be studying through a review company. I feel that having some of these theories fresh in my mind from school can help me out. A plus side to doing it now is I can get sponsored by a professor with a CFA and the total cost will be 220 dollars for registration instead of 1400 which is full price.

Ive applied for many analyst jobs but am having trouble even getting interviews. I have a respectable 3.6 gpa so I dont think they poses a problem.

In response to your last statement, Level 1 can be taken in the last year of your four year degree or with 4 years of experience. To take levels 2 and 3 to complete the charter, you must be sponsored by your employer and have the relevant experience.

The theories won't help you if you can't get an interview, and the level 1 won't really do that.

Registration is about $800 I believe, and the tests are like $350 each.

Where have you applied? Have you done so through your schools recruiting center?

Yes, you can take level 1 with a four year degree, but to have a CFA charter, you must pass 2 and 3, and as stated you need the relevant experience (but no sponsorship is needed).

Another solution might be to take a financial advisor job in order to get your Series 7 and 66, and see if you can get them to sponsor you for the Series 86/87 (research analyst)

 

[TrueBlueGT]

are you looking to do analysis or brokerage? If brokerage, Ameriprise Financial will sponsor you for the exams and give you a decent bonus package. Just have an ace in the hole for another position because they'll run you like a rented mule & toss your ass on the curb when you don't meet their requirements. I know....I still have the bruise from where the door hit me in the ass.

 

[stalian999]

I interviewed for an fa job with raymond james and they said i need more experience. They didnt care what it was, so long I got some type of experience.

 

[stalian999]

I would have to start as some type of analyst and work my way up to a fund manager.

 

[Quadcammer]

hmm, you willing to move?

I work at the NYSE and there are a lot of entry level jobs out there, but you are a bit late to apply now. They start hiring in about october.

I just had bear stearns call me for an interview actually.

 

[TrueBlueGT]

Ameriprise hires newbs & sponsors them for the 7, 66, & life/health licenses. Just expect to work 80 hour weeks and get punched in the kidneys for it.

 

[Quadcammer]

Ameriprise hires newbs & sponsors them for the 7, 66, & life/health licenses. Just expect to work 80 hour weeks and get punched in the kidneys for it.

sorry man, but Ameriprise has a terrible reputation.

 

[stalian999]

I really dont have a geographic preference. I'm looking into Florida, Atlanta, Charlotte, Boston, Chicago, and NY. Im worried about the cost of living in NY but there is a lot opportunities there which is the upside.

 

[Quadcammer]

entry level jobs in nyc at a 2nd tier firm probably won't pay you enough to live in the nicer parts of the city. You'd have to look at jersey city, brooklyn, queens, or harlem.

 

[TrueBlueGT]

sorry man, but Ameriprise has a terrible reputation.

I know. I worked there & experienced firsthand exactly why they have a horrible reputation. It took them two years of bullshit & slave-driving, but they finally broke me down to the point that I had to quit or lose my goddamn mind. I wasn't advocating them for anything other than getting sponsored for his licenses, a spot of cash at the beginning, and some experience to list on a resume. A year & a half after I left there, the emotions surrounding that place still make me want to hurt a few of the management types.

 

[stalian999]

the junior analyst in finance for nyse seems attractive

 

[Quadcammer]

it sounds decent but let me take a look at the "real" job duties. They make everything sound good, but sometimes its just not.

I'll also check the pay grade.

 

[BlueVenom281]

I was considering this as well. I'm at JP Morgan working in their investment bank back office. I am visiting the Manhattan office in a few months, I really want to work up there, maybe in a mid office position. I've been debating back and forth about MBA vs. CFA....still not sure which one to pursue 1st. I only graduated in '05.

 

[Quadcammer]

what area of the bank do you work in?

know a girl named kristy lisi?

 

[BlueVenom281]

I work in Delaware...cash management to be exact. That name doesn't ring a bell, is she up in NY?

 

[Quadcammer]

yeah, 270 park.

she works in marketing middle office (bond/ir swaps)

 

[BlueVenom281]

Oh OK, I know lots of people at 270, I'll keep an eye out for her name, there are always new groups sending deals through my team :beer:


Sorry to jack this thread too lol