many charter holders on this forum seem to advice others to not do the CFA. I find that very weird. They spent at least 800 hours studying and paid around $3,000.
IMO, there are three reasons why:
They pursued the CFA because they have inferiority complex and they wanted to prove a point, only to still feel inferior after obtaining the charter. Their SO (if they even have one), coworkers, and friends treat them like crap.
Building on point one, they have inferiority complex -> They are socially awkward and insecure -> They screw up job interviews and are unable to expand their network because they’re socially autistic -> can’t get good jobs -> claim that the CFA is pointless.
Their superiors (who treat them like shit) have an MBA rather than a CFA.
The naysayers tend to be more vocal than people who have found value in the charter. It is the same reason that many people only review something if they’ve had a negative experience with it. I, for one, have seen career growth and an increased salary as a result.
My wife, house, car, 2nd car, vacation cabin, f-me money, f-you money and several mistresses probably wouldn’t have happened if it weren’t for the Charter.
I had all of above except the last one before I had started with the program + a house on the seashore. The last one is expected and am strictly working on this project.
I think most charterholders take that view because the average person seems to think that the CFA charter is going to magically change their lives. Like the day after they get the charter, they’ll start generating insane alpha in stocks, making millions, and be on the front cover of Forbes magazine. On the contrary, passing the exams merely gives you an overview of finance concepts and the ability to hold a conversation about these topics. And it instills discipline. You can’t pass the exams if you don’t study diligently (most can’t at least).
Pretty sure you’re just trolling but anyway…charterholders here don’t tell others not to do CFA, they are just simply saying that one should think twice before signing up for the exam as it takes a lot of time and commitment to pass all the exams. Secondly, some L1 newbies have misconception about the program. Some think that just by passing the exams they’d land that job in a top funds management company/ investment bank/ hedge fund without any experience to back it up.
As for me, even though I’m not a charterholder yet I’m glad to have completed the program as I’ve learned a lot of new stuff despite majoring in finance in college. In addition, I’m also seeing more and more job ads that specifies having the charter would be highly regarded.
I have no remorse for going through the program. Even if I change careers and do nothing related to finance it was a great experience. I had failed level 2 once and learned a lot about myself commitment, dedication, and dealing with failure. When new candidates ask my opinion if they should go for it, I try and make sure they know what they are getting into first, but it is their decision and I don’t try and influence them one way or the other.
no remorse even though i am now at a PE fund - venture fund…moved away from equity hedge fund world for many reasons including automation of the industry.
I remember couple of your posts asking for help and you said me and couple others must have buyers remorse but in reality we - at least I - simply told you that coming from a “non target school in Canada with bad GPA” you’d need a top20 US MBA to get a front office research role and that CFA alone will probably not get you where you want to be.
CFA is a great learning tool but many candidates think that CFA is the golden ticket - be all and end all. CFA is for people already in the industry specifically in the client advisory function or mutual fund. I am in the alternative fund world and very very few have or care for the CFA. In my world, it is all about either the MBA or JD.
You’re quite annoying with your assumptions like this one above.
You really do not need anything of those beside some good local political network relationships as well as to be in correct moment on the correct place to success if you live in 80 % countries other than US.