Any Finance people with a CFA designation here?

[skymama 35]

My son has the opportunity to be sponsored to get his CFA designation. He asked me to ask my skydiving friends if anyone has gone through the rigorous tests before and if they felt it was worth pursuing and also if it'd be too hard to study for while also studying for his Master's in Finance (while also holding down a job). So, I'm asking!

On a side note, I think it's cute that he finds you all to be a wealth of information.

She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon

[Rick 67]

skymama

he finds you all to be a wealth of information.

I try

You can't be drunk all day if you don't start early!

[normiss 622]

The Series 7 certs too please.

But yes, yes he should.
Take advantage of any and all training and certification/licensing they offer.

[airdvr 197]

No..but I did stay at a Holiday Inn Express last night...

Please don't dent the planet.

Destinations by Roxanne

[StreetScooby 5]

Quote

So, I'm asking!

My understanding is it's worth the effort.

We are all engines of karma

[Erroll 49]

skymama

My son has the opportunity to be sponsored to get his CFA designation. He asked me to ask my skydiving friends if anyone has gone through the rigorous tests before and if they felt it was worth perusing and also if it'd be too hard to study for while also studying for his Master's in Finance (while also holding down a job). So, I'm asking!

On a side note, I think it's cute that he finds you all to be a wealth of information.

I think he should do a lot more than merely perusing if he is serious about pursuing that line of study.

[Nataly 38]

skymama

My son has the opportunity to be sponsored to get his CFA designation. He asked me to ask my skydiving friends if anyone has gone through the rigorous tests before and if they felt it was worth perusing and also if it'd be too hard to study for while also studying for his Master's in Finance (while also holding down a job). So, I'm asking!

On a side note, I think it's cute that he finds you all to be a wealth of information.

My ex did the CFA at the same time as I did my CIMA (CA in the US)... Whilst I would never claim that becoming a Chartered Accountant is easy, it's a piece of cake compared to CFA (at least it seemed that way to me!!).

He initially did his Securities exams, and whilst I don't believe this is a pre-requisite for the CFA qualification per se, he found this to be a good foundation for the nightmare that was to be the CFA exams...

Level 1 was HARD. Level 2 was FUCKING HARD. Level 3 was UNBELIEVABLY FUCKING SO HARD HE WANTED TO DIE. Seriously. Now, he was working full time whilst studying. He found it challenging to do this, but he was very disciplined. One thing your son should note is that exams are held only once per year (unless things have changed). So if your son is not part of the world's most brilliant minds, he is very likely to fail a level at some point (a quick look at the statistics on pass-rates will probably shock you)... He is in fact very likely to fail more than once... So 3 years is the shortest amount of time it takes, but realistically we are talking about 4, 5 or even 6 years of his life. It *is* really worth it if he succeeds, precisely because it's so damned hard. (And also because it's a very good qualification.) Even in the UK, it is recognised as an extremely good qualification (so it's not just useful in the US).

I'm not saying all this to discourage your son, but for him to understand the level of commitment. Honestly, if he wants a good bang for his buck, it is my opinion that he should put all his energy into getting just the CFA, because what he will cover in the Masters, he will cover in WAY more depth through CFA. Not only that, but the CFA has much more clout than a Masters in Finance (at least in the UK). To put it into perspective, imagine recommending to someone that at the same time as doing their AFF, they should also do some Tandems... Not much point in that, is there? Not a complete waste, but not the best use of their time/money...

Just my .02 cents.

"There is no problem so bad you can't make it worse."
- Chris Hadfield
« Sors le martinet et flagelle toi indigne contrôleuse de gestion. »
- my boss

[skymama 35]

Sorry for the typo, I'll fix it.

She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon

[skymama 35]

Thanks so much for your post, Nataly, I'll certainly pass it along to him and I'm sure he will find it useful. He's certainly not one of the world's most brilliant minds, but he has a passion for finance and numbers and is driven to succeed. He knows about the fail rate, I think that's why he's asking if it is worth his effort! I think he'll probably go for it, there's no harm in trying!

She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon

[Nataly 38]

skymama

Thanks so much for your post, Nataly, I'll certainly pass it along to him and I'm sure he will find it useful. He's certainly not one of the world's most brilliant minds, but he has a passion for finance and numbers and is driven to succeed. He knows about the fail rate, I think that's why he's asking if it is worth his effort! I think he'll probably go for it, there's no harm in trying!

It is certainly achievable (even for non-brilliant minds!!), but by no means easy. Personally, if he is prepared to go for it, I would encourage him to do so - but not at the same time as a Masters in Finance. Juggling work and CFA is more than enough, and as I said, I believe CFA surpasses the Masters anyway. (Some people may disagree.)

Just my opinion, but I think if it's something he is interested in, it's well worth the effort.

"There is no problem so bad you can't make it worse."
- Chris Hadfield
« Sors le martinet et flagelle toi indigne contrôleuse de gestion. »
- my boss

[RMK 3]

If he’s being sponsored for the CFA, yes he should accept. His MBA in finance will be far more important, but a CFA would be a good addition.

Regarding workload, there will be a lot of overlap and honestly anyone of reasonable intelligence can pass them with the effort.

However, the best advice I got when I was younger was to take any and all writing or public speaking classes that I could find. Regardless of your intelligence, degree or what acronyms that follow your name, unless you can present yourself well either verbally or in writing, you’re not going as far as you could otherwise. Tell him good luck.

"Pain is the best instructor, but no one wants to attend his classes"

[NWFlyer 2]

RMK

However, the best advice I got when I was younger was to take any and all writing or public speaking classes that I could find. Regardless of your intelligence, degree or what acronyms that follow your name, unless you can present yourself well either verbally or in writing, you’re not going as far as you could otherwise. Tell him good luck.

This is great advice. I'd add that one way to get public speaking training and experience is to join a Toastmasters club. They're a very low cost way to get practical experience in different types of speaking scenarios, as well as at meeting management (which comes in handy in just about every job!).

http://toastmasters.org/

"There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences." -P.J. O'Rourke

[skymama 35]

Great advice, you guys. I will certainly pass that along.

She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon