What careers are you guys in to?
Registered User
Joined: Sep 2006
Posts: 2,440
Likes: 1
From: NORCAL
Originally Posted by TW00Si,Mar 29 2007, 08:10 AM
Yes, I've heard the CFA is harder than the CPA test. If anything I would only go for CFA 1. As for the MBA, it's time consuming and I would only go for two MBA schools here in NY, NYU or Columbia and neither is easy to get into. However, the idea is to move into the front office of LEH, instead of making minimum wage in the back office. 
cfa cost = $4,000 + 2 years
cfa make tons of money tho. many financial firms value cfa above mba. Mba is more of a formality for corporate world to promote u beyond manager.
Joined: Feb 2007
Posts: 1,937
Likes: 6
From: NY, NY
Originally Posted by trainwreck,Mar 29 2007, 11:38 AM
mba cost = $80,000 + 2 years
cfa cost = $4,000 + 2 years
cfa make tons of money tho. many financial firms value cfa above mba. Mba is more of a formality for corporate world to promote u beyond manager.
cfa cost = $4,000 + 2 years
cfa make tons of money tho. many financial firms value cfa above mba. Mba is more of a formality for corporate world to promote u beyond manager.
Registered User
Joined: Jul 2001
Posts: 6,592
Likes: 0
From: Yorba Linda, CA
Originally Posted by steven975,Mar 28 2007, 08:25 PM
The CFA is really only useful if you want to be an equity analyst, though.
It's amusing to be in a review course for the CFA exams when they get to the fixed income material. You can look around the room and clearly identify all of the equity analysts: they're the ones with the glazed look in their eyes at the first mention of "duration".
The CFA designation is extremely useful if you want to be a fixed income analyst as well as an equity analyst. There's a reason that PIMCO insists that its analysts (and, for that matter, its account managers) earn their CFA charters.
The CFA curriculum covers equities, fixed income, derivatives (options, forwards, futures, swaps, swaptions, and so on), alternative investments (real estate, venture capital, hedge funds, and so on), and portfolio management: a little more than merely equity analysis.
Registered User
Joined: Jul 2001
Posts: 6,592
Likes: 0
From: Yorba Linda, CA
Originally Posted by trainwreck,Mar 29 2007, 08:38 AM
cfa cost = $4,000 + 2 years
And it's only 2-1/2 years assuming you take the Level I exam in December (rather than in June) and pass all three exams first time out of the chute. With average pass rates in the 30% - 45% it's a little arrogant to assume that you'll do it in only 2-1/2 years. Some of us have done it, but most don't.
Registered User
Joined: Apr 2005
Posts: 1,279
Likes: 0
From: From Diego to the Bay
Originally Posted by magician,Mar 29 2007, 10:56 AM
The CFA takes at least 2-1/2 years, with hundreds of hours of study, not 2 years.
And it's only 2-1/2 years assuming you take the Level I exam in December (rather than in June) and pass all three exams first time out of the chute. With average pass rates in the 30% - 45% it's a little arrogant to assume that you'll do it in only 2-1/2 years. Some of us have done it, but most don't.
And it's only 2-1/2 years assuming you take the Level I exam in December (rather than in June) and pass all three exams first time out of the chute. With average pass rates in the 30% - 45% it's a little arrogant to assume that you'll do it in only 2-1/2 years. Some of us have done it, but most don't.
My Cousin is in the process of preparing for his exams. Not easy at all.You could just marry a Rich girl. OR take a job in Saudi, they pay really well for 6 months of work.
Registered User
Joined: Sep 2006
Posts: 2,440
Likes: 1
From: NORCAL
Originally Posted by magician,Mar 29 2007, 11:56 AM
The CFA takes at least 2-1/2 years, with hundreds of hours of study, not 2 years.
And it's only 2-1/2 years assuming you take the Level I exam in December (rather than in June) and pass all three exams first time out of the chute. With average pass rates in the 30% - 45% it's a little arrogant to assume that you'll do it in only 2-1/2 years. Some of us have done it, but most don't.
And it's only 2-1/2 years assuming you take the Level I exam in December (rather than in June) and pass all three exams first time out of the chute. With average pass rates in the 30% - 45% it's a little arrogant to assume that you'll do it in only 2-1/2 years. Some of us have done it, but most don't.
i am 24 and work in the finance dept of a fortune 500 company. however, i would like to get into portfolio management or private equity. any advice on how i can make the jump? i figure the cfa is the first step to proving myself (grades in college were less than stellar). also, both my brothers are involved in private equity and they make mountains of $$$ (my little bro has a bigger portfolio than me!!!), but they say its hard to bust in because my grades are holding me back.
currently the work i do is not related to financial analysis. i am finishing up the CIA (certified internal auditor) because it is easy and it helps to pay the bills in the mean time till i can make my jump.
please advise on how i can make a jump from counting money and verifying its existence to analyzing and making money!!! (i realize this post is all over the place)
Joined: Feb 2007
Posts: 1,937
Likes: 6
From: NY, NY
I don't see how your grades are relevant after working for 2 years now I suppose. You're already in the financial industry, making the transition isn't as hard as someone like me who came in from the consulting field.
Registered User
Joined: Feb 2006
Posts: 1,503
Likes: 0
From: IN THE HOOD
Originally Posted by trainwreck,Mar 27 2007, 02:59 PM
DO NOT GO INTO ENGINEERING FOR THE MONEY.
i went into school under computer science because it was the hottest thing at the time. at my school engineering and cs majors get the most pay on average after graduating. unfortunately after a wasted year working my ass off only to get B's and a lot of C's, i dropped out and switched to econ. best decision ever. my social life went up dramatically and undergrad experience was awesome.
if you are going to a public school, competition for grades is very high, at least in the University of California system. competeing witha bunch of asian kids with more brains and determination is tough. if u go into engineering and do not have a knack, talent, or enthusiam for it, u will be eaten alive.
ranking best jobs after graduating:
tier 1 - top talent, i would say top 3 percent of graduationg class (engineering, business, finance, econ, cs)
ibank - goldman sachs, jp morgan, the rest of them are chop shops that dont do real deals
consulting - bain, mckinsey, maybe deloitte consulting
tech jobs - engineering, computer science.
tier 2 (finance, accting, econ, business majors)
big 4 accounting.
big banks.
corporate finance.
operational research.
tier 3 - (international studies, marketing, comm majors)
marketing
tutoring
looking hot in the office
tier 4 (art major)
bartend
walmart greeting
if you are rich (poly sci, lit majors)
grad school
law school
i went into school under computer science because it was the hottest thing at the time. at my school engineering and cs majors get the most pay on average after graduating. unfortunately after a wasted year working my ass off only to get B's and a lot of C's, i dropped out and switched to econ. best decision ever. my social life went up dramatically and undergrad experience was awesome.
if you are going to a public school, competition for grades is very high, at least in the University of California system. competeing witha bunch of asian kids with more brains and determination is tough. if u go into engineering and do not have a knack, talent, or enthusiam for it, u will be eaten alive.
ranking best jobs after graduating:
tier 1 - top talent, i would say top 3 percent of graduationg class (engineering, business, finance, econ, cs)
ibank - goldman sachs, jp morgan, the rest of them are chop shops that dont do real deals
consulting - bain, mckinsey, maybe deloitte consulting
tech jobs - engineering, computer science.
tier 2 (finance, accting, econ, business majors)
big 4 accounting.
big banks.
corporate finance.
operational research.
tier 3 - (international studies, marketing, comm majors)
marketing
tutoring
looking hot in the office
tier 4 (art major)
bartend
walmart greeting
if you are rich (poly sci, lit majors)
grad school
law school
there is a LOT more to the institution of school and work, and one's life, than what is painted on your goggles