Gonna make this short and sweet
I’m a 4th year finance student and I ultimately want to open my own fund.
I come from a non-target school in Canada, my GPA is trash (but my finance courses are all good), and I have no formal experience.
Should I register to do the CFA?
Yes
Get that cfa kid! Also consider studying for GMAT and although you may not want to you should volunteer. Just put in 2 hours or even an hour a week on sat or sun mornings. by the time you are ready to apply for mba youd probably have sizable hours in community service. it will pay off down the road. bang out the cfa and definitely study for gmat and volunteer work. While doing cfa level 1 take up self modeling courses.
You’ll probably still not succeed in your goal, but taking CFA won’t hurt.
OP, this is why you need to meet someone in person who has actually done it. They will not only give you constructive guidance but also confidence…Confidence as in trust in yourself that you can do it too. Good luck.
Do it, go all the way. I am more than happy that I took the decision to do it, although it was not easy (as the exam overlapped with my final semester at the university), it was worth it. Good luck
@Nalbukhari, just don’t listen to those kind of people. You can do it, and will succeed in your goal if you work hard enough and if you believe in yourself.
This sort of advice can actually ruin someone. You should pursue your dreams, but also be realistic and know when to cut bait. Going the MBA/CFA route is extremely resource intensive. And becoming a PM that makes really good money is about as hard as it is to play professional sports.
Seems like OP has the passion to go for it, but that alone doesn’t pay the bills.
Meanwhile, becoming a Master Plumber is also hard work but much easier to achieve and they make good money. Just sayin’.
This is why you should do it. You need all the help you can get. CFA will give you some legitimacy.
“becoming a PM making good money is as hard as it is to play professional sport” okay i went to a top ranked school in northern cal. I know a few PMs from my school that I knew literally growing up…In fact, couple of my college friends are co founders of venture capital hedge funds in silicone valley. There are others who are PMs for mutual funds…I am not even counting the PMs that we learn in CFA level 3 - the client portfolio managers…Professional sport? very few and fewer than PMs.
Maybe those who went to LSU or Alabama might have more pro athletes than PMs…who knows…
OP should meet someone in person who has actually done it. This is key…Talking to people on anonymous forums or people who have never achieved what OP wants to achieve…he will only receive criticism and etc.
You cannot “ruin someone” by giving them encouragement and that hard work will get them there…Encouragement brings trust, discipline, hope and confidence in self and will find motivation to chug along…Along the way the person might change their goals but continue to hard work…
^Keep on passing out those participation trophies. Everyone is super special and can do whatever they set their minds to!
OP - Take L1 and see how it goes. If you pass you’ll at least have something to talk about during interviews other than your less than stellar academic career. With a lot of networking and luck you may catch on somewhere. But I’d have a solid plan B if I were you. I’d say your chances of being able to make a decent living as a PM are less than 2%.
Don’t let people blow sunshine up your ass. This is a very tough business and IRL what ohai and I are telling you is about as nice as it will get.
I do sincerely wish you the best of luck though.
only 2% chance? not 2.1%?
Yes, it is tough and an uphill battle but no need to be so down about it…Every top position in any job is tough to get…the kid is in his early 20s…he is very young…Given a 24 hour day…being 22 years old is like living at 10am…just had breakfast but has whole day left…it’s up to you how you make today to be…crap gpa and non target school?? that’s fine…it’s merely 10am you got whole day - life, career, chances - ahead of you. You just gotta work hard and be ready to take it.
The best advice I received was meeting someone who made it (someone currently doing what I ultimately want to do) and talking to that person…That person will never say that “you can’t” or throw some random percentage chance of you making it or not…They made it…to them it’s not THAT big of a deal (you’re dream is not to fly F35 jet or be an astronaut or starting quarterback for NFL or PGA tour player…) and they are not insecure to tell you - OP - that you can do it too…IF anything go talk to your professors and even posting this on SumZero -if you can get in somehow - will get you more encouraging and optimistic yet constructive advice and criticism.
Maybe i have been around pretty confident and/or giving people and have been really fortunate. Good luck kid
Good clarification from Sweeptheleg, do what you love and the money will follow 
Hi. I am basically in the same shoes as you. 3rd year finance student who’s in Toronto, with a lower-than-average GPA. My strategy now is to take designation exams to prove that even I don’t have an average GPA, I have an average IQ. I think there is one thing that Sweep the Leg is right about, that is managing a fund will be like playing sports professionally. I just think make a living by managing a fund is easier than playing sports.
After all, whether you are a value investor or a trader, you need to find a way to exploit market inefficiency to obtain a premium on market average. It will be easy achieve this by taking tremendous risk, but it won’t last longer than 10 years.
If we actually want to do well in this industry, the most important thing is not about getting a great GPA or a terrific connection. We need to out compete others, as least the majority of the market. In order to do it, we need to utilize our time to learn more every single day.
My plan is basically becoming a research analyst first and starting to sharpen my skills. So I talked to someone who is working in a fund as the head of research, and he offered me two advice: start writing for Seeking Alpha to improve your skills; and take CFA if you can.
So here is what I am doing: I got into a club and read their recommended readings - extremely helpful; I am working towards several designations; I spend half of the time on my courses; I start to buy stock in real money; and I write a report every month.
After all, if you can make 25% every single year and constantly beating the market, no one cares if you don’t have a 3.5 in GPA or a MBA. All you need is the skill to make money. Long-term thinking is as important in career planning as it is in investing. Maybe you want to be a trader, then this may not apply. But still best luck!
youre so predictable lol
Maybe if you can come up with a revolutionary formula that WINS more than other models, and/or enhances the theories taught in CFA curriculum (BSM, fama, ETC.) you can set up your own fund! (and name the formula after yourself too)
Until then, CFA will be a good starting point.