I am currently working as Software QA Analyst since last 7+ years and appearing for CFA Level 1 exam in December 2013 in Vancouver, Canada. I have B.Com (From India) and Post Grad in IT and cleared CSC in 2010. I wanted to know if I clear my Level 1 exam, will I be able to switch my career to Investment related? How good or challenging it will be? I appreciate your response on this.
Thanks.
Most likely no…you’d have a better chance after passing level 3.
0% after L1
0.1% after L3
Are you serious? How is that possible ?
It’s not quite that low. There is a real need for someone who can program and who understands finance. The last firm I worked at had an employee with similar credentials (CFA + MA in Comp Sci with experience). That’s probably your best angle instead of trying to move directly into a research role. You’d be best off at a small buy side firm as the programmer with some understanding that you could participate in research and move into a more research-oriented role over time.
Frankly, the pure quant side of the market is fascinating and a lot more interesting to me than chasing earnings (which is what a lot of firms do). I’m doing a bunch of quant studies and screening right now and I wish I had programming skills or could afford to hire someone who does.
I don’t think level 1 will do anything at all, but if you pass all 3 and have solid programming skills with familiarity of some of the major research platforms (CapIQ, Factset, Bloomberg), someone will pick you up.
The reality is that the CFA designation does not really help you break into the finance industry, which is what you are trying to achieve. It helps you in varying amounts if you are already in the finance industry. Regarding quant roles…these are difficult to obtain without an MFE, PhD, or being a very talented programmer/mathematician.
How about after passing all 3 levels I get a MBA (part-time) (not from the Ivy leagues) to my profile ?
I’m guessing you’re new to the forum.
Always reassuring reading the stories here!