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      04-21-2009, 12:30 AM   #1
vshahv
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All my finance people... Anyone take their CFA

Wondering if anyone here has their CFA or is planning on taking it.

I passed level 1 and am taking level 2 this June. Any Study tips? Its tough preparing for this exam while also doing IBanking but I guess thats the sacrifice I am willing to make.

Also what are your thoughts on CFA vs. MBA - dont want to start anything, just want honest opinions.
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      04-21-2009, 01:09 PM   #2
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MBA>CFA

MBA gives you substantially more options for your career. CFA is very, very narrow. I know its trendy now for sales, traders, i-bankers, and back office to get it, but really it makes much more sense for people who are actually running money. Who, incidentally, are the people the program was created for.
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      04-21-2009, 01:23 PM   #3
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I think MBA is a better route. Sure, it costs a hell of a lot more, but you build connections along the way, as well as working with similar minded folk. The CFA is just studying in your room for hours in isolation.

I was considering the CFA, but I decided to just go ahead and do a MFE.
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      04-21-2009, 01:52 PM   #4
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Quote:
Originally Posted by scorcherjf View Post
I think MBA is a better route. Sure, it costs a hell of a lot more, but you build connections along the way, as well as working with similar minded folk. The CFA is just studying in your room for hours in isolation.

I was considering the CFA, but I decided to just go ahead and do a MFE.
The MFE is even less broad than the CFA and limits your finance career quite a bit.

And I'm taking FE classes through Columbia.
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      04-21-2009, 02:13 PM   #5
bones
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Unless the MBA is top 25, CFA > MBA. Everyone has an MBA. Dime-a-dozen.
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      04-21-2009, 02:47 PM   #6
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Quote:
Originally Posted by bones View Post
Unless the MBA is top 25, CFA > MBA. Everyone has an MBA. Dime-a-dozen.
Some truth to this. I obtained my MBA but was still stuck in the middle, didnt really break me out. I work in PE and I just took the CAIA. Like the CFA but even more focused for funds, PE, mezz, LBO. Basically if you can get into top 25 MBA do it, if not a professional designation is always good to have. Do some research and you can find one that might fit a niche you are looking to get in.
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      04-21-2009, 04:53 PM   #7
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greetings, don't post much, but thought i had some insight here...

i'm studying for level III right now. my only advice is study, study, study. level II is no piece of cake, and the amount of material covered can seem a bit overwhelming. putting in the time is the only thing that will get you there.

also, if you haven't looked, go here:

http://www.analystforum.com/phorums/login.php?13

good discussion, and helpful people.

and re: the mba, i agree with the above (top 25 schools, or CFA>MBA). maybe, consider both... i'll be applying to grad school after finishing the CFA. having started the application process, and met many alums, the thing i've heard most is one of the most valuable things you take from b-school is the contacts. getting into a really good school will help get you into a really strong network.
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      04-22-2009, 02:01 AM   #8
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did the MFE here in Chicago... went on to high frequency trading at a hedge fund.... now i do high frequency trading in futures for my own acct...
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      04-22-2009, 08:13 AM   #9
jaiman
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Quote:
Originally Posted by wellwell View Post
Some truth to this. I obtained my MBA but was still stuck in the middle, didnt really break me out. I work in PE and I just took the CAIA. Like the CFA but even more focused for funds, PE, mezz, LBO. Basically if you can get into top 25 MBA do it, if not a professional designation is always good to have. Do some research and you can find one that might fit a niche you are looking to get in.
Have you found the CAIA is useful or ind emand by employers? I was interested, then I did the practice exam on the website, scored well over 70%and decided it was a joke.
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