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Financial career and CFA

Veteran

Mike Pierce Milwaukee, WI

I would appreciate any insight to the CFA and the significance for a financial career. My goal is M&A or institute management of funds. I just completed my MBA this month and currently on the fence for the CFA I test in June. Thank you for your guidance and insights. - Mike

14 February 2013 10 replies Education & Training

Answers

Veteran

Mike Pierce Milwaukee, WI

Kevin, thank you! I appreciate your support and encouragement. I'm going to consider my preparation for the CFA like a deployment...lots of work and sacrifice with great gratification when it is over! - Mike

15 February 2013 Helpful answer

Advisor

Greg Brett Webster, NY

Mike:

Congratulations on the MBA. I also earned one of those in finance a number of years ago. In regard to the CFA certification..... I would pursue it if you want to work in investment banking or another like job with heavy exposure to various security offerings and financial markets. The MBA is a good general foundation but the CFA shows you have competence and understand of financial instruments, pricing and markets. If you obtained your MBA from a top 10 school in finance you may not need it but, if not I would pursue otherwise.

Best of luck in you new career and thankyou for your service.

14 February 2013 Helpful answer

Advisor

Mike Molitoris Cary, NC

Mike, if you are looking at institutional management, you definitely want to get the CFA. Most of the analysts that I know have it, and a majority of fund managers do as well. I would also look at joining the local CFA group in your area to begin networking. I have had folks echo a lot of the sentiments mentioned above, that the credibility that comes with the CFA is equivalent to one completing another masters program. M&A would require more of Masters of Finance route then the CFA. Best of luck!

Veteran

Mike Pierce Milwaukee, WI

Hi Rebecca,

I appreciate your thoughts. We (study group) are banking on the MBA and MS (financial) information overlaps with CFA because we don't have enough time for both. It is challenging but I enjoy the material and look forward to the opportunities.

Do you know anything about ACG or CFA competitions?

- Mike

Advisor

Rebecca Hughes Allen, TX

Hi Mike, there are linkedin.com pages for some CFA society pages - not sure what major city is closest to you (Milwaukee?), but my Dallas society (and I assume your closest city) has many events that might be of interest or networking for you, to find others taking the exam and also those to help you find the next career move.

Advisor

Rebecca Hughes Allen, TX

Hi Mike,
I found that level 1 of the CFA exams had large overlap with MBA curriculum, so you will find that one to be easier and more familiar, and then it will give you a taste of the study process to see if you want to follow through with the more in depth content of levels 2 and 3. The self-study of the CFA process made it easier for me to fit around a career and other obligations (compared to an MBA which has more structured class times), so hopefully it will not be too intrusive for you to pursue the CFA charter. Find a study partner if you are not a natural at self-study - it helped me to have another pair of eyes on those textbooks as I studied. And of course study partners are good for networking too since you will be working toward the same type of career goals. The CFA society in each city (I am in Dallas) might help find a study buddy if you don't know someone else already enrolled. Best of luck! And thank you for your service!

Veteran

Kevin Harbin Irving, TX

Mike, congrats on your MBA. The CFA charter is a more rigorous program in understanding the valuation of securities but also covers topics such as economics, financial accounting and corporate finance. Having earned the MBA some of this material will be familiar to you and will reduce your learning curve. I work as an investment and actuarial analyst in a corporate role and have been able to use the knowledge acquired after attaining the CFA charter to broaden my role within my company. The CFA program is a great challenge and looking at your experience you will meet that challenge. I encourage you to take the exam in June.

Kevin Harbin, CFA

Veteran

Mike Pierce Milwaukee, WI

Katie,

Your vote confirms my course of action...thank you!

- Mike

Advisor

Katie Tamarelli Newport, KY

I would second that response. The CFA takes a long time to earn and is a much stronger credential in certain fields. It cannot hurt to take the first test and see if it is required in your new role.

Best of luck!
Katie

Veteran

Mike Pierce Milwaukee, WI

Brett,

I appreciate your insights. I agree with you that the CFA will add value to my job search (plus my IRA/401K). I enjoy the financial markets and I view the training as personal development. If it translates it into a new career that is a bonus!

Thank you!

- Mike

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