i know many accountants TALK about taking the CFA exams but not a lot of people actually obtained both, i only know one person…
Yes, all states require the 150 credits to be licensed. However, some do not require all 150 to sit. A bachelor’s degree in accounting is also required or a master’s degree with a certain number of accounting classes.
You make a valid point that for many CFAs to become CPAs they might need additional education credits, which would not be worth it. I have personally take the CPA and am not starting the CFA, I feel that it would be the more traditional path.
My list is up to 19. Who are the other 4 people?
Can’t tell you.
(Witness protection.)
There are 22,000 FSAs (from what I saw). With about 110,000 CFA charterholders, you think that more than 22% are also CPAs? Seems high to me (not trying argue, just say what I think - just saying that because some disagreeing via message board can seem confrontational).
I really think obtaining another designation adds value on the resume. I know an auditor at one of the big 4 firms is attempting CFA level 2 right now and she will get her CA title very soon. Probably later on she wanna open a company of her own, therefore being CFA and CA will probably give her lotta credibilities.
i think it does actually, it’s not going to make you a director or partner right away in a firm. but if you were to network with those titles people are more likely to ask “so you have done both CPA and CFA, how was that like for you?”
it’s a conversation starter, to the very least.
In terms of getting headhunters attention, it’s also great to have both on your CB/ linkedin, you become more visible.
of course, it all depends on the employer and how much they value these credentials at the end of the day.
Or she might be an auditor 5 years from now.
I’m still very early in my career, so I would have to say I’m still trying to get there. Someone w/ all those titles would (should) be very knowleable in finance, accounting, and management, but who needs to know all that? Unless you are running a business all by yourself, I don’t see why anyone would pursue all those titles. People should be using those as a catalyst for change and not so much as a checklist (w/ the exception of the CPA, which is required for pubilc accountants. If my ultimate goal was a c-suite gig at a fortune company, I would have taken the MBA route as opposed to the CFA. I don’t see how the CFA would help for a management role. I think the most common combinations you’ll see is the CPA + MBA. The CPA + CFA guys wil probably stop paying dues for one or the other. CPA + CFA + MBA guys probably need a job.
I bet you the average charterholder earns more, but the median CPA earns more.
CPA, CFA, MBA here and I definitely don’t need a job. Keep studying kiddo.
Very cool! Bizval, if you don’t mind sharing, I would curious as to how you came about the decision to pursue all three. I would think it has to be an interesting story.
This thread should have been titled “How many CPA/CPA equivalents have CFA”.Just mentioning CPA is a kind of disrespect to another designations that are equivalent to CPA (like ACCA,ACA,CGA …etc).Here in India i have seen many guys who are CA+CFA,i also know a lot of people in UK/Dubai/Singapore who are ACCA+CFA.Considering ACCA/CA equivalent to CPA,i think we are understating the relative number of individuals that have both CFA+CPA/ACCA/CA/CGA etc.
That’s what I did.
did the MBA first where I was more/less introduced to the CFA. After graduate school I started the CFA and at level 2 (failed 1st attempt) realized how much accounting I didn’t know. I needed a few more accounting classes to sit for the CPA, so I took those while studying for CFA. Once classes were over I started the CPA exams while studying for the CFA. Finished L3 this year and final CPA exam a few months ago. CPA exams aren’t very hard. They’re different - and you’ll learn some accounting (and IT & other items I never thought would be on a CPA exam) - but the exam is very straightforward.
I’ve heard the CPA exam(s) used to be much more difficult. The pass rates were much lower and I’m not sure if that has anything to do with the different structure now vs. then (i.e. prometric vs a 2-day exam session).
Wow, nice job.
Good job! Congrats on finishing all your studies! 
Just out of curiosity, if you don’t mind me asking, in what age group are you?
I am interested in getting CFA and CPA titles too and just wondering around what age ppl normally get those designations.
In the early 30’s range 
I did everything backwards. From what I gather, most I know who have all three go from MBA to CPA and then CFA. They emphasize in accounting while in their MBA programs to sit for the CPA, complete the CPA exams right after their MBA, then gravitate towards the CFA. Of those who go that route, a large number of them get through levels 1 and 2 fairly easily, but struggle and eventually give up on level 3. PM is a foreign concept to them, and one which they have an incredibly difficult time understanding.
Note - I work in business valuation/private equity. My path is nothing like those in ER who, from my experience, get the CFA then MBA. The CPA isn’t really worth the effort or desire to them. I’ve worked in ER as well and agree there is some, but limited value of the CPA in ER.
Very interesting story. Congratulations on passing all those tests. I would be that a decent amount of the pass rate improvement stems from the increased barriers to qualify to take the test. The 150 hour rule is relatively new.
Did you go back to a brick and mortar school to take those extra accounting classes? Or did you take them online? I was thinking of taking some online course work and would be curious to see what your experience was like if you went that route.
[/quote]
Very interesting story. Congratulations on passing all those tests. I would be that a decent amount of the pass rate improvement stems from the increased barriers to qualify to take the test. The 150 hour rule is relatively new.
Did you go back to a brick and mortar school to take those extra accounting classes? Or did you take them online? I was thinking of taking some online course work and would be curious to see what your experience was like if you went that route.
[/quote]
I went to a nearby state school. I had plenty of hours with my MBA, it was the accounting classes I needed - specifically audit and tax.