Hi Everyone .....
I got numerous queries to my personal id of course asking whether there are alternatives to the CFA Program US . Obiviously when asked they wanted to pursue the course in the First place .... Many saw the statistics posted in most of the websites (I dont want to mention which names asked me and which websites posted the information) but the unanimous resounding answer was they want a big rewarding financial career.
I would totally sound hypocritical if I said I did not share these views . Being Sucessful , Obtaining Financial Stability and rising to a top position is everyones dream including mine and I am sure most of the people in CCI Concur with me.
However at the cost of saying two disclaimers like the way you say before any IPO (Please red the red herring prospectus before investing to consider the risk factors) , I thought it would be most appropriate If i posted these disclaimers
1.You dont necessarily need a CFA to earn a high salary and rise . Infact I would say CFA is a niche qualification suited for Portfolio Managers , IB , Equity Research . You cant even call it a comprehensive qualification for financial risk since we have a course known as Financial Risk Manager offered by GAARP
2.Any qualification you should pursue should add value to the existing role you are doing in an organisation . For eg If you are into internal audit , A CIA (A certified internal auditor may help as an add on to CA)
But Since I want to sound fair and provide alternatives to a career in Investment Research , Banking etc .
The two qualifications which I would recommend considering that they are less expensive are obiviously LIFA (offered by the international research Association) . Is way less expensive ..... There are three levels and you can write level 3 directly .
You can schedule the exam whenever you want at a prometric test centre and you can retake the exam immediately if you do not clear. This course is provided by IRA as mentioned earlier and I have seen some people who are employed in giants like GS , JP Morgan , Morgan Stanley have this .
The other alternative is ACIIA , This is not as comprehensive in terms of the overall broad knowledge you have . This tends to focus more on alternative investments . This course has two parts namely a domestic part as well as an International Exam and people who clear this are awarded the ACIIA qualification .
Both are very cheap and are ok . However dont expect the same employment prospects which a CFA Gets.
I am pasting the links file regarding LIFA for your assistance and you can download the ACIIA brochure electronically from the website link I am mentioning.
Just to tell you CFA is still not as good as an M.B.A from top B schools like IIMS , ISB or IVY League colleges in the U.S.A contrary to what the websites mention . This comes with the basic assumption that all B Schools take a lot of efforts to polish the students.
I hope this helps , Please post feedback and keep your eyes open for posts on other courses and please assist me in providing a comprehensive descripttion and method of preparation for these courses.
https://www.aciia.org/pages/exams.asp - Details of ACIIA EXAMS
https://www.the-ira.org/scholarship/2-1.php- Comparison cost wise with other courses (LIFA vs others)
https://www.the-ira.org/about_designation.html - About the LIFA Course
Remember LIFA has no preparatory material and you might have to study with references mentioned in the website ........
CAclubindia
