Cfa - should i do it or not ?

CFA 1770 views 3 replies

Harsh

Credit Manager

29 Points Joined September 2009

Hello Friends, I have cleared my CA in Nov 2012 and presently working as a credit manager in a private bank. I was always interested in finance, whenever I do any credit appraisal and any of my clients asks me for any suggestion on which loan should he go for or what is the opportunity gain on taking a loan, I would design the borrowing options, use the time value of money, compounding of money, etc. to advice him on which loan should he go for and from which bank he should borrow. That time I realise that I am tailored for finance and not for this field. Decision making, investment decisions, etc. these excites me.

But I am confused whether i should opt for CFA and start pursuing CFA, what will be my growth after L1, L2 and after completing the CFA. Should I switch my job right now or wait till I clear my examination (as I feel these days clearing the examination and having the certificate would strengthen the employers' confidence). Where will I see myself at the age of 28 (now I am 23). I have thought of Actuaries, but due to the lack of opportunities in Indian market and as it is totally a new and tough course, I have dropped that option.

Friends, kindly give your valuable advice for the above and any other options that can be considered.

Replies (3)

Ashutosh

Lead Business Analyst

71 Points Joined March 2010

Dear Harsh, to give you a background about CFA. Its conducted by CFA institute. Reach them @ https://www.cfainstitute.org/. Exam comprises of L-1, L-2 and L-3. While Level 1 is slightly above basics of Finance with high focus on US Gaap, L-2 , L-3 is more about Portfolio theory.

CFA is advantageous to candidates who are working in Portfolio Management or Equity mangement in outside India. India does not provide many opportunities for CFA's. Course is pretty rigorous and indeed a fancy title when you already have a prestigious qualification under your belt.

Do persue it if you intend to move into equity or Portfolio. However if you think you have no penchant for both, better to stay away from it. Real benefit of this course is when one is working abroad as a financial consultant and advisor, they are paid well and respected globally. Check out scheweser notes, before you plunge into it. Do remember you get Charter of CFA only upon completing prescribed years of work experience in specific domains.

chandan

STUDENT

64 Points Joined March 2011

SIR YOU CAN DO CFA BECOZ THERE ARE STUDENTS IN OUR INSTITUTE WHO ARE CREDIT MANAGERS AND CLEARING THE 3 LEVELS THEY ARE GETTING THE JUMB OF 300% IN THEIR PAY PACKAGE SO FOR MORE INFORMAYTION CONTACT

FINANCIAL CORRIDOR

09718924281

Arvind Sharma

CA Final

149 Points Joined February 2014

Dear Harsh,

When we opt for any professional course, we should always try to know, what is the domain of the professional body. Professional course is one , where you get membership of the professional body which give you some rights or legal burden.

When we talk about CA , they are Public Accountant / Auditors. The whole curriculum focus on delivering the knowledge requried to be an Auditor. When it comes to CFA, the whole focus is on Financial Analysis and not just Reporting and Auditing. When you will read CFA study material, you will find even subject like financial reporting and analysis does not teach you how to report but how to take infrenses from the published report.

If you are interested in Financial Reporting / Auditing you have best professional membership in your bucket. But if you want to make your career in Finance like Corporate Finance, Fund Management, Structured Products etc, CFA charter in your qualification portfolio will add a name of trust in your credentials.

Regarding Actuaries, If you are interested in Financial product formation and risk management, tools tought in CT series of Actuary course are essentials, as they will tell you the fundamentals of the forumula which we learn and apply in other curriculums. Actuary is not a new course, its just ACET is introduced two years back,

Choosing any course totally depends on your career prospects.

Attached file may help you in taking decision.

For further enquiry feel free to contact me.