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Thread: CFA Exam

  1. #21
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    Quote Originally Posted by pemberly View Post
    i think the statistics are for 35-40% of MBA grads from the top schools go into management consulting. People who go into cpg marketing become assistant brand managers. Others go into various sectors of finance, I'm not sure at what level. Some become product managers in various industries.

    Almost all business schools have some kind of salary distribution for grads. But those are always a little inflated, because 1) they only count the people who responded, and most people who aren't earning very much don't respond, and 2) people lie. Ours were a little further inflated because the years right before I went, the euro was riding pretty high and the figures were in USD, and also because a fair number of students from my school are sponsored by their companies.
    Survivorship bias + unvalidated data... Do they also give avg/median hours worked per day along with salary?

    I've been in a funk trying to decide what I want to do. Right now I'm effectively a business analyst or systems analyst and project manager. I've been asked if I want to switch fully to BA instead of this jack of all trades thing I've been doing the last couple of years. I have spent many years on the tech side so it feels like a waste if I give it all up, and let it atrophy away but I don't know how sustainable or portable a jack of all trades (business + tech) would be outside my existing workplace.

    Also there's a good chance I'll be in the middle of nowhere in a couple of years. At that stage I don't know whether it would be easier to find a job as a (well-compensated) developer or as a BA. I saw that the CFA Institute just came out with their Claritas Certificate (i.e. CFA-lite for people in the investment field who will NOT be directly making investment decisions), and am wondering if I should take it or take something technical like a WPF or WCF programming class.
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
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  2. #22
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    Quote Originally Posted by darkcser View Post
    Survivorship bias + unvalidated data... Do they also give avg/median hours worked per day along with salary?

    I've been in a funk trying to decide what I want to do. Right now I'm effectively a business analyst or systems analyst and project manager. I've been asked if I want to switch fully to BA instead of this jack of all trades thing I've been doing the last couple of years. I have spent many years on the tech side so it feels like a waste if I give it all up, and let it atrophy away but I don't know how sustainable or portable a jack of all trades (business + tech) would be outside my existing workplace.

    Also there's a good chance I'll be in the middle of nowhere in a couple of years. At that stage I don't know whether it would be easier to find a job as a (well-compensated) developer or as a BA. I saw that the CFA Institute just came out with their Claritas Certificate (i.e. CFA-lite for people in the investment field who will NOT be directly making investment decisions), and am wondering if I should take it or take something technical like a WPF or WCF programming class.
    they don't give a breakdown of pay/hour, but it's not that great. but a lot of that is on the individual. some people will put in the crazy hours to keep moving forward, while other people will reach a level they're comfortable at and have more of a work/life balance.

    i really don't have enough knowledge of your job market to know whether it's better to make the switch or not. but it sounds like either way, you're smart with lots of skills, so there's no wrong decision.

    and I'm not sure the claritas is right for you, since you already passed level 1&2, correct? that's like someone who's fluent in spanish taking high school spanish classes. if you have the "passed level 2" part on your resume, it should be more valuable than that claritas designation. the only people i know considering claritas are people who have failed the cfa level 1.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

  3. #23
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    Quote Originally Posted by pemberly View Post
    they don't give a breakdown of pay/hour, but it's not that great. but a lot of that is on the individual. some people will put in the crazy hours to keep moving forward, while other people will reach a level they're comfortable at and have more of a work/life balance.

    i really don't have enough knowledge of your job market to know whether it's better to make the switch or not. but it sounds like either way, you're smart with lots of skills, so there's no wrong decision.

    and I'm not sure the claritas is right for you, since you already passed level 1&2, correct? that's like someone who's fluent in spanish taking high school spanish classes. if you have the "passed level 2" part on your resume, it should be more valuable than that claritas designation. the only people i know considering claritas are people who have failed the cfa level 1.
    Thanks

    I've only completed the level 1 CFA exam. Spent only two weeks looking at level 2 before something distracted me, and that was 4+ years ago. 300 hours is a bit too extreme for me these days -even 100 hours for the Claritas is a bit much since I've been delinquent on reading everyday to my son.

    My main thing is that I don't know if I'll even be in the asset management space a couple of years from now. Evidently doctors are not highly compensated in areas with asset managers, and few asset managers exist in places where doctors are well compensated.
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
    HK47: As do I. It is our lot in life I suppose master. Shall we find something to kill to cheer ourselves up?

    -KotOR

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    i believe NC has some great hospitals? and i heard of a few finance companies relocating there bc it's cheaper. i don't really know specifics.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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    Hey Pemberly, are you still looking? We just had a client relationship manager(UK) and a Relationship Manager (AU) open up. Both will spend up to 12 month in Boston before being shipped out to their respective areas. It's your chance to hear those English accents you're so fond of.
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
    HK47: As do I. It is our lot in life I suppose master. Shall we find something to kill to cheer ourselves up?

    -KotOR

  6. #26
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    I am still looking. I was actually just griping to a friend about getting rejected for a job on the Sunday afternoon of Columbus Day weekend. The HR manager took time off his long weekend to reject me.

    Please send me the details, and I will be so grateful. Thanks for thinking of me!
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

  7. #27
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    So I'm supposed to take the CFA exam this coming Saturday, but all of a sudden it ceases to matter. I've got a new job, which doesn't really need it. I'm a management consultant now, and even if I do pass it, I'll never have time to study for levels 2 and 3. I'll probably still take it since I don't have other plans that day.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

  8. #28
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    Congrats on your new job!

    So what does a management consultant do? CRA is in our building so I've always wondered.

    I know that at a high level they are suppose to analyze processes at an organization and improve them but not much beyond that.
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
    HK47: As do I. It is our lot in life I suppose master. Shall we find something to kill to cheer ourselves up?

    -KotOR

  9. #29
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    Quote Originally Posted by darkcser View Post
    Congrats on your new job!

    So what does a management consultant do? CRA is in our building so I've always wondered.

    I know that at a high level they are suppose to analyze processes at an organization and improve them but not much beyond that.
    Charles River, right? I don't know much about them besides that they're quite techie focused. Basically management consultants tell companies what they're doing wrong and how to do it the right way. Or that should be what they do. They offer an objective (hopefully) external view, and they do things for a company or entity that might not have the expertise/time to do it themselves. A large part of consulting is also to constant look for more projects. You want to always be working. Which reminds me that I have to email someone back. aaarggh.

    Most of consulting isn't the fancy stuff you see on tv. Everyone would love to have high level projects, but most are things like government compliance, market analysis, drafting HR policies, sourcing and procurement, etc.

    But it's pretty fun. I'm never really doing the same thing over and over again. There's a lot of travel which is cool since I'm young and free. And all the projects I work on are important to someone; like, I feel like someone out there cares that I do a good job, because they're paying for it.

    One thing I should note is that brands, degrees, certifications are very important; not because Harvard grads are so awesome. You're selling basically people to companies, and they're more likely to buy when they see fancy words like Stanford MBA, CFA.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

  10. #30
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    Quote Originally Posted by pemberly View Post
    Charles River, right? I don't know much about them besides that they're quite techie focused. Basically management consultants tell companies what they're doing wrong and how to do it the right way. Or that should be what they do. They offer an objective (hopefully) external view, and they do things for a company or entity that might not have the expertise/time to do it themselves. A large part of consulting is also to constant look for more projects. You want to always be working. Which reminds me that I have to email someone back. aaarggh.

    Most of consulting isn't the fancy stuff you see on tv. Everyone would love to have high level projects, but most are things like government compliance, market analysis, drafting HR policies, sourcing and procurement, etc.

    But it's pretty fun. I'm never really doing the same thing over and over again. There's a lot of travel which is cool since I'm young and free. And all the projects I work on are important to someone; like, I feel like someone out there cares that I do a good job, because they're paying for it.

    One thing I should note is that brands, degrees, certifications are very important; not because Harvard grads are so awesome. You're selling basically people to companies, and they're more likely to buy when they see fancy words like Stanford MBA, CFA.
    so its people like u that are telling management to cut staff!!!!! lol jk
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    Quote Originally Posted by LuNaR View Post
    so its people like u that are telling management to cut staff!!!!! lol jk
    Office Space

    So Pemberly, how was the test? Or did you bail because of the impending snow?
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
    HK47: As do I. It is our lot in life I suppose master. Shall we find something to kill to cheer ourselves up?

    -KotOR

  12. #32
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    Quote Originally Posted by darkcser View Post
    Office Space

    So Pemberly, how was the test? Or did you bail because of the impending snow?
    Haha, the second option. It wasn't so much the snow. I got a job offer about a week and half before the test, and I just stopped studying. I probably subconsciously forgot things, haha. Maybe sometime, in the future, I'll try to take it. Possibly next December. I can slowly study for a year. Maybe I'll have work pay for it.

    And I don't tell people to cut staff. Or, well, I haven't yet, haha. I've told people to do things better.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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