My ambivalence toward the CFP has been noted on here before. I’m quite certain that anything I need to know to do comprehensive financial planning will be learned OTJ, and I think there’s very little of real value that I can learn from the CFP program.
That being said, the value of being a CFP isn’t what you know–it’s what your clients THINK you know. And if your clients think that having a CFP makes a person educated about all things personal finance, then that perception becomes reality. And they’re more likely to seek the advice of a CFP than a CPA/CFA, as misguided as that may be.
My understanding of OP’s comment (but the way I see it anyhow) is:
why there aren’t more “versions” “types” of designations besides all those accounting related ones (most mentioned here) and the CFA which is too much PM oriented.
I have 20 yrs career in corporate banking and there is no designation in this field. People do MBAs, but I don’t see much value doing an MBA which I can afford, so this is where CFA comes in. But it’s not really my area.
nailed it. I am looking to enter corporate finance and the only finance designation with any respect is the CFA- forces people to either have no designation, or get a pretty irrellevant one
no certainly not. but having a “passed CFA Level III exam” in your cv does not help you into IB either and considering that most large IBs (at least in NYC) send you to WStraining in your first months anyways, gives you th eedge over your peers just from a cost perspective. let’s be honest, any designation, academic title, or certificate is designed to get your career started. when you have worked for JPMs derivatives department in a leading position for 10 years, nobody will come asking for some credential anymore.
Did the thought ever cross your mind that it isn’t apprecieated for a very good reason?
If you want to learn more about corporate finance, pick up a book and read. I’m taking L2 next June after finishing L1 last December, since then I’ve been through a lot of staple books on investment, finance, and valuations. One of them was part of the CFAI textbook library and a prep for the equity section. What I mean to say is, the designation isn’t as important as you think. Especially if it doesn’t provide value to your job. Your personal knowledge and experience is what sets you apart, irregardless of how good you are at studying and writing exams from a predetermined curriculum. Taking courses, interning, or going through a training program should be more helpful than writing an exam. I’m just doing it because I already know a lot of the material, or planning to get familliar with it either way.
I am finishing my MBA and feel like I want to further differentiate myself in the job market. There are many people with MBAs. 11% of the US population has a master degree. I dont think just an MBA cuts it anymore these days
I agree with this, but it is difficult to verbalize that you have the added knowledge on your resume. The CFA in theory should sort of attest to your proficiency and get your foot in the door more.
Some people will say that your demonstration of knowledge and ability can be shown on your resume under the job section. Problem is, if you arent already in a job that allows you to do that, it is tough. A bit of a catch 22. If you are in a job that allows you to show your prowess worthy of a big time job, then your probably dont need the job you would be applying for.
