CFA vs Masters in Finance

[lin.ci84]

okay sure.

 

[friendlyguy]

It depends what area are you guys applying to, eg. Non Research areas (Global Financial Services or product control or Sales and Trading), why u in the world would you need a CFA?

Even Investment Banking doesnt require a CFA. Went a couple of networking sessions with Goldman Sachs, UBS and spoke wif a few investment bankers, most of them are not even holding a CFA. If you want prroof about this, then its up to you to believe me or not.

Rather you all go and study for top tier Msc in Finance or MBA.

How about the Oxford Diploma of financial strategy? Which one win NTU MBA or Oxford diploma? I think I will forget the IB M&A,I wanna focus on equity research in IB.

CFA if useless, why many people pursue it?

 

[Konnichiwa]

It depends what area are you guys applying to, eg. Non Research areas (Global Financial Services or product control or Sales and Trading), why u in the world would you need a CFA?

Even Investment Banking doesnt require a CFA. Went a couple of networking sessions with Goldman Sachs, UBS and spoke wif a few investment bankers, most of them are not even holding a CFA. If you want prroof about this, then its up to you to believe me or not.

Rather you all go and study for top tier Msc in Finance or MBA.

Thks for your info... then i will also avoid SMU masters in applied finance...
http://www.business.smu.edu.sg/maf

 

[amerell]

@friendlyguy: Do CFA if you really wanna get into equities research or asset management. It helps a lot in that case. Many people pursue it without thinking of finance careers they are going after. Some end up doing property valuation, hedge funds, technology operations, compliance, financial risk management which a CFA is really useless in those sectors. It just makes your name card looks nicer thats all. Don't even bother doing a oxford diploma, like what i said earlier, go for a Proper MBA or Msc In Finance.

@Konnichiwa: Do this program if your really want a job in equities research or Asset Management. Other than tat, no pt pursing this program at all.

 

[Konnichiwa]

@friendlyguy: Do CFA if you really wanna get into equities research or asset management. It helps a lot in that case. Many people pursue it without thinking of finance careers they are going after. Some end up doing property valuation, hedge funds, technology operations, compliance, financial risk management which a CFA is really useless in those sectors. It just makes your name card looks nicer thats all. Don't even bother doing a oxford diploma, like what i said earlier, go for a Proper MBA or Msc In Finance.

@Konnichiwa: Do this program if your really want a job in equities research or Asset Management. Other than tat, no pt pursing this program at all.

Ya... i seems to get what u are trying to drive at...

Those who want to use CFA as entry to banking industry... don't be too hopeful...???

Anyway, I am doing it for my own interest... i hope i can apply them in future.. if i have enough to invest...

 

[friendlyguy]

Ya... i seems to get what u are trying to drive at...

Those who want to use CFA as entry to banking industry... don't be too hopeful...???

Anyway, I am doing it for my own interest... i hope i can apply them in future.. if i have enough to invest...

Warren Buffett doesn't need CFA to invest..
Do your own investment reading books to invest.
The statistics showed, the return of the average guy taking long term strategy > the investment manager.

 

[friendlyguy]

@friendlyguy: Do CFA if you really wanna get into equities research or asset management. It helps a lot in that case. Many people pursue it without thinking of finance careers they are going after. Some end up doing property valuation, hedge funds, technology operations, compliance, financial risk management which a CFA is really useless in those sectors. It just makes your name card looks nicer thats all. Don't even bother doing a oxford diploma, like what i said earlier, go for a Proper MBA or Msc In Finance.

@Konnichiwa: Do this program if your really want a job in equities research or Asset Management. Other than tat, no pt pursing this program at all.

Hedge fund= CAIA?
Risk management= FRM?
Compliance= Law degree?

To break into investment management easy? How about the pay scale?

 

[Konnichiwa]

Warren Buffett doesn't need CFA to invest..
Do your own investment reading books to invest.
The statistics showed, the return of the average guy taking long term strategy > the investment manager.

Erm... I would prefer to learn from CFA then try to imitate Warren Buffet... because all I know about Warren Buffet is he is very very rich and he starts his investments at an early age.

 

[amerell]

@friendlyguy: Compliance just require biz degree. Only do Law/Juris-Doctor if your trying boost your chance breaking into M&A. Pay scale wise, i'm not sure for equities research / asset management.

Risk Management is a very big group, inside got a lot of breakdowns (IT, Credit, Trading) if your talking IT Risk = require IT Degree, Market / Credit Risk = more of Business Degree, Trading Risk = High quant degree like stats, actuarial, engineering, MFE etc.

IMO, FRM is a waste of time.

 

[amerell]

Just thought of sharing this article with the rest:

http://www.businessbecause.com/commentary/live-your-dreams-urges-ex-goldman-sachs-intern.htm

A few points to take note:

- Im not trying to dismay anybody from entering financial services

- An Msc in Finance from top unis does more wonders than an MBA.

 

[Neurotoxin]

Use Schweser its golden. Can't believe I only discovered this now! Man... This exam is wicked.

I agree schweser is great. I use schweser rather than the CFA textbooks which are very thick.

 

[Neurotoxin]

@friendlyguy: Do CFA if you really wanna get into equities research or asset management. It helps a lot in that case. Many people pursue it without thinking of finance careers they are going after. Some end up doing property valuation, hedge funds, technology operations, compliance, financial risk management which a CFA is really useless in those sectors. It just makes your name card looks nicer thats all. Don't even bother doing a oxford diploma, like what i said earlier, go for a Proper MBA or Msc In Finance.

@Konnichiwa: Do this program if your really want a job in equities research or Asset Management. Other than tat, no pt pursing this program at all.

Not necessary must do research or asset management then need to take CFA.
I think alot of people have the misconception that study CFA must do research and asset management.

It depends on the employers as well. Sometimes you look at the jobs which doesn't involve in research or asset management but the employers require you to have CFA. The jobs you refer above sometimes the employers want you to have CFA as well. No harm getting the cert if you got the time and money.

Its just like a lot of engineering grads go to bank and work rather than becoming an engineer. It doesn't mean that having a engineer degree die die must become engineer or its useless. Also it doesn't mean that having CFA must do jobs related to research and Asset management.

 

[amerell]

dude

You cant compare an engineering cert with a CFA. Not only you need to pass 3 exams, you need to have related 2 years of job experience. So even if you pass 3 exams and you nvr end up in a related job, you wont even get the chartered at all.

 

[drifting]

dude

You cant compare an engineering cert with a CFA. Not only you need to pass 3 exams, you need to have related 2 years of job experience. So even if you pass 3 exams and you nvr end up in a related job, you wont even get the chartered at all.

Sorry side-track abit.....

I read your post and was wondering if you could help me understand risk management better since you seem to know much about it

A bit about myself:
I interested in joining risk management in an FI. I used to be an engineer at a semi-con for 3.5 years... Later i switch career and started joining market operations control in a foreign bank... However, what i really wanted to do was to get into risk management

I read that a financial engineering degree is suitable for risk management.. However, from your posts, not all risk management requires a quant based masters/degree... So i take it that just a Msc Finance will suffice? Are there very high barriers of entry in that case??

 

[yyp2308]

hi

anyone heard of cima before?

 

[amerell]

Sorry side-track abit.....

I read your post and was wondering if you could help me understand risk management better since you seem to know much about it

A bit about myself:
I interested in joining risk management in an FI. I used to be an engineer at a semi-con for 3.5 years... Later i switch career and started joining market operations control in a foreign bank... However, what i really wanted to do was to get into risk management

I read that a financial engineering degree is suitable for risk management.. However, from your posts, not all risk management requires a quant based masters/degree... So i take it that just a Msc Finance will suffice? Are there very high barriers of entry in that case??

Yes thats right, if you wanna do reporting and monitoring figures daily those kind of jobs, just a business and computer science degree would do? If you wanna develop/structure products (thats where your 5 figure pay comes in), then a financial engineering degree woud be needed. It all depends what you wanna do inside that group.

An Msc Finance is for those who wants to enhance their chances breaking into FO or complementing it with their CFA studies. Its like you will be using it to apply for a typical Financial Analyst position.

 

[Biogentic]

hi

anyone heard of cima before?

yea more for management accounting but manufacturing in spore is dying, better go for financial accounting.

 

[amerell]

Correct if im wrong, but i tink CIMA is useful if your planning to go into IT or management consulting fields?

 

[yyp2308]

tks. came across some info on the web...say it's a accountancy qualification but focus on business....internationally recognised. just did not hear much about it so wondering whether anyone can shed some light

 

[friendlyguy]

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