Hey all, I’m a software developer with nearly 20 years of experience and looking to get into finance. I don’t have any real financial software experience, and have been suffering for that when job shopping recently, so I’m looking to really give myself an education in all things financial. The CFA program seems just the right thing, and it’s quite a cheap alternative to going back to school for classes/a degree in finance. I realize that even if I pass all three level exams, I still wouldn’t have the necessary work experience to earn the offical “CFA” title, but I think the education alone would be invaluable. Anyone have any thoughts/advice? Thanks much!
20 years of experience in IT !!! Which bank do you own, Sir? … Wachovia?
I’d say maybe you shouldn’t try to get it, but rather look for alternative solutions, at least if your goal is to stay within software development which seems the most natural choice given the few lines outlined above. None of the software developers in finance I have known over the years have had a CFA charter, it has never bothered them as far as I konw. The program being ‘cheap’ is relative; a lot of hours have to be put down while studying for it (some 1000 hours or so) and that doesn’t come cheap, many people never get through the entire program (which easily might make the entire venture a sunk cost). I assume you have some sort of technical/maths background, a maths degree or something similar? If you want to do one program, why not try your hand at PRM or FRM (finished wihtin one year only, with a bit of luck)? Any opinions from the rest of you, guys?
Thanks wawa… yes, I do have a math background as well, and I do want to stay in software dev. Even if I do make it through just level1, I don’t think I’d consider the entire venture sunk - wouldn’t the knowledge acquired and the fact I passed level 1 count for something? I’ll definitely check into PRM and FRM as you suggest! Dinesh: I own Ugatz Savings and Loan
Geez - I’ve got a much better solution that will take you far fewer hours and cost you much less. Just write financial software. I’ve got a whole bunch of projects and will teach you everything you need to know to write the software. You can even pay me less than you would pay CFAI. BTW - What freaking idiot thought up Javascript anyway? I hate this stuff.
Well that would definitely be my first choice… except I’d rather be the one getting paid for doing it 
Whaddya got? I hate Javascript too - try to avoid it like the plague
I’ve been writing financial software for 7 years, and I can tell you that you don’t learn much finance that way. At least not compared to the CFA program. I was awarded the charter last year and it was worth it. I’m able to do much more interesting projects as a result. Although, if Joey is willing to teach you for free, thats a good deal.
wrossi, did those 7 years of Software Dev experience (In Finance domain) help you to hedge-off those 4 yrs needed for the charter? Very curious to know if this experience helps in getting the charter. I already dropped them a mail, but they gave a ‘Bush’-like answer 
As a side note, I hate Javascripts too, I probably feel that’s the worst thing that happened to software-tech world!!
Yes it did, but in my case I write software that is used directly on the trading desk to make investment decisions. I’m sure thats why it qualified. If I’d been writing trade processing software for the backoffice, I think I’d have been out of luck.
wow, nice stuff… I work for the Investment Management Division and write Portfolio Management Softwares … did I kiss the lady luck good-bye?
I suspect that Javascript was a good idea that went horribly wrong when too many web-cooks spoiled the broth. I also agree that if Joey is willing to teach you stuff, it’s not a bad idea.
go for it. I knew nothing about financial stuff until i stumbled upon L1. It is great info but not too indepth so u need to proceed on in order to know financial stuff really well.
ancientmtk - I’m assuming you’re in software? Can you tell me a bit about what you do?
There are at least a dozen software developers here. I passed level 1 in Dec as well. I am not surprised if I got 90%+ on it. CFAI do not announce overall result, so you never know. But I think CFA does not help much on the Quant front, I am depressed for a while after finding that out. Maybe I will fail level 2. If someone have interesting finance software project, I would like to work on it. More quantitative, the better.
wawa Wrote: ------------------------------------------------------- > I’d say maybe you shouldn’t try to get it, but > rather look for alternative solutions, at least if > your goal is to stay within software development > which seems the most natural choice given the few > lines outlined above. None of the software > developers in finance I have known over the years > have had a CFA charter, it has never bothered them > as far as I konw. The program being ‘cheap’ is > relative; a lot of hours have to be put down while > studying for it (some 1000 hours or so) and that > doesn’t come cheap, many people never get through > the entire program (which easily might make the > entire venture a sunk cost). I assume you have > some sort of technical/maths background, a maths > degree or something similar? If you want to do one > program, why not try your hand at PRM or FRM > (finished wihtin one year only, with a bit of > luck)? > > Any opinions from the rest of you, guys? I was (but am not) a software developer (well, kind of, as I was senior enough to just “tell” other programmers to program, instead of programming it myself) and I was (still am) a CFA charterholder. I know of quite a lot of programmers who are also CFA charterholder. No, the charter won’t directly help you as a programmer. But you may be “looked” at differently and that may help you.
I agree with 3weeks (“you may be ‘looked’ at differently”) but it sort of requires you, ps_ct, to pass all three levels. I also wrote financial software for some time but it wasn’t Javascript. I just got an e-mail today that the FRM exam has just opened for registration: www.garp.com/frmexam. Before you sign up, however, you might want to listen to what JoeyDVivre has to say about it as this is a subject area he knows very well.
I think the FRM is a great (and newly tough) exam. I think we need an FRM forum so I can pontificate there too.
Hey JoeyD - can I email you directly?
sure… joeydvivre at yahoo dot com
Dear Wrossi I am also a software developer working in a bank for investment product system. I am planning for CFA qualification and understand that the Institute will reject inappropriate work description, as per website (http://www.cfainstitute.org/about/membership/process/Pages/work_experience_descriptions.aspx). I have tried to contact the institute on this point but the reply is to refer the website. In this regard, I wonder if you could kindly share your successful experience in terms of work description as well as sponsor comment on my application as the Institute requires 2 sponsors for my application. You may email me directly at coolcool883 at hotmail dot com. Thanks a lot. Regards, Katy