I’ve read quite a few posts in the L2 and L3 forums where some AF’ers are doing a bit of self reflection, taking a look back at their reasoning for pursuing the CFA. Many include myself cited that reason as “to open new doors”. Some regretted their decision, others did not. I’m curious to hear (maybe before the current recession) if this is actually a valid reason. Did the CFA open any doors? I’ve had very little success leveraging my CFA L2 candidate status to open any doors, and I will be shifting my focus towards applying to b-school after L2.
in this economic environment you cant answer any of the following Qs: 1) cfa or mba 2) will cfa open doors 3) will mba open doors 4) will cfa make me more desirable to the ladies 5) should i switch careers to finance 6) who is john galt
…agree That’s why I said “before the current recession”.
I got my current position at a pretty well known FoF after passing cfa l1, non-finance background. It helped to get the interview…slipping a jackson to each interviewer did the rest.
I think it helped me land interviews at some really good firms,. Landing interview is half the battle, I had to compete against people with MBAs (because that was one of the ‘requirements’ in many job postings). I did not get offers at those firms most likely for lack of experience (being fresh out of undergrad). At that point in time I had only passed level 1.
CFA Helped me realize that IT is where i belong
Passing L2 helped me get the interview where I am at now. If only to show that I was not a complete idiot and could focus enough to pass a test. It’s not going to land you any jobs, but it will probably give you a few more opportunities. Your personality and work experience is what really matters. With the current environment, and in “normal” times, people should not think of the CFA as a golden ticket. Although to be honest, needhelp’s #4 can always be answered. It’s yes no matter what.
There’s no doubt that CFA helps open doors. The issue is whether the current crisis has closed them so tightly that the CFA can’t overcome it. However, eventually the doors will open again.
bchadwick Wrote: ------------------------------------------------------- > There’s no doubt that CFA helps open doors. The > issue is whether the current crisis has closed > them so tightly that the CFA can’t overcome it. > > However, eventually the doors will open again. This almost sounds like some creepy prophecy.
The creepy prophecy is whether we will all be around to see it. 
comp_sci_kid Wrote: ------------------------------------------------------- > CFA Helped me realize that IT is where i belong So that was you! Remember the other day when I barged into your IT cube and you were playing that Linkin Park song “Somewhere I Belong” . . . I knew it CSK, knew it.
passing level 2 got me out of the back office at a bulge bracket and into research at a boutique
the fact that i’m studying for L1 got me an interview. coz when i went for the interview all they kept asking was about the CFA. dont know yet if i’m going to get the job, but here’s to the Institute! just hope it keeps opening doors.
cloudstrife Wrote: ------------------------------------------------------- > the fact that i’m studying for L1 got me an > interview. coz when i went for the interview all > they kept asking was about the CFA. dont know yet > if i’m going to get the job, but here’s to the > Institute! just hope it keeps opening doors. Just studying for L1 got you an interview? Wow! which part of the world is it?
needhelp Wrote: ------------------------------------------------------- > in this economic environment you cant answer any > of the following Qs: > > 1) cfa or mba > 2) will cfa open doors > 3) will mba open doors > 4) will cfa make me more desirable to the ladies > 5) should i switch careers to finance > 6) who is john galt While these questions may seem okay in the current situation - if your destiny is to pursue your dreams through education and then corporate employment, in the longterm CFA/MBA or which ever will open doors. And lots of them. I do not believe education will ever lose value. The unskilled labour market is hit harder during bad times. That said, to a “street smart” person these qualifications may not make sense, irrespective of the state of the economy. There are other characters here who are just “beating around the bush” - without any conviction that the CFA is the right qualification to do, leave alone working in finance. They chicken out when the job market worsens, but at least they achieve their goal of “appearing cool” to the ladies.
CFA will never open doors. Try using your hands to turn the knob instead.
I think education is positive. Building up your human capital has an extremely low probability of having a negative effect on your career or life for that matter as you will always be more interesting at parties. I have heard the term over qualified used but I don’t really believe that. Even a street smart person would recognize the value of education whether they admitted it or not. They are still going to hire people with qualifications to work for them.
MBA’s are designed to facilitate career transition in the form of recruiting relationships and internships. So if you’re looking to make a career change you’ll have more success with an MBA. I’m nearly done with my MBA and have found it has opened more doors than the fact I was a L2 candidate. That said, I the two in concert work great. PS. There aren’t any ladies worth your time that gives a rats a$$ about the CFA…
In one of the interviews I had last year, I was interviewed by a senior guy and a relatively fresh graduate (he had been working there for a year or two). When they saw that I passed L1, the senior guy started (lightheatedly) hassling the younger one about failing L1 that same year. Put me in a damn awkward position, since I didn’t want to laugh at the guy. But I think the fact that I passed it helped me land the interview, gave me some talking points, and definitely helped me answer some of the technical questions. In the future, I plan on staying active with the local CFA Society, and use it for networking purposes.
sumz Wrote: -------------------------------------------- > > Just studying for L1 got you an interview? Wow! > which part of the world is it? i’m in Kenya. the charter is still extremely rare here. most people dont know what the hell it is and confuse it with CPA. but the people that do (like my interviewer) was impressed by the fact that i’m up for the challenge of attaining the CFA charter. mind there were only 3 charters awarded in Kenya this past year.