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CFA Charter: worth it? - Page 3

post #31 of 56
Quote:
Originally Posted by DarkNWorn View Post
Thanks. If I do it, it's for the finance knowledge and not for the designation. I want to get deeper with finance, but don't want to get an MBA.

My wife considered an MBA as well and would agree that the CFA is a much better use of your time in this case.
post #32 of 56
Quote:
Originally Posted by DarkNWorn View Post
Thanks. If I do it, it's for the finance knowledge and not for the designation. I want to get deeper with finance, but don't want to get an MBA.

An alternative to the MBA for people who want a rigorous finance course is a 1-year Masters in Finance. Still requires going back to school, but I know a few lawyers who have taken a year out to do it. If you're a Biglaw associate, I cannot imagine having the time to devote to the CFA while you're working.

Another idea for people still in law school is seeing if you can take an intro finance class in your university's B-school.
post #33 of 56
Quote:
Originally Posted by DarkNWorn View Post
Thanks. If I do it, it's for the finance knowledge and not for the designation. I want to get deeper with finance, but don't want to get an MBA.

read a finance textbook then. I recommend Corporate Finance by Brealey & Myers
post #34 of 56
not to hijack this thread, but any opinions on the FRM certificate? I am in the field of risk management, and my boss wants me to get it, but any experience with the exam or comments on the exam preparation would be great. I would probably be taking it in Nov 09.
post #35 of 56
Quote:
Originally Posted by feynmix View Post
not to hijack this thread, but any opinions on the FRM certificate? I am in the field of risk management, and my boss wants me to get it, but any experience with the exam or comments on the exam preparation would be great. I would probably be taking it in Nov 09.

If you don't mind me asking, how did you begin your career in risk management? As an upcoming graduate, that is a field that entices me greatly; but I don't have any contacts in that field.

Thanks for anything you can share.
post #36 of 56
Quote:
Originally Posted by feynmix View Post
not to hijack this thread, but any opinions on the FRM certificate? I am in the field of risk management, and my boss wants me to get it, but any experience with the exam or comments on the exam preparation would be great. I would probably be taking it in Nov 09.

If you plan on staying in risk management, it won't hurt, and will likely help. Get the study guides and work the problems. If you don't prepare, you won't be successful. Not much else to tell you. There are numerous risk management books/texts that will be great supplements; Jorion's Value at Risk, Hull's Derivatives text; to name a few.
post #37 of 56
Quote:
Originally Posted by fairholme_wannabe View Post
If you don't mind me asking, how did you begin your career in risk management? As an upcoming graduate, that is a field that entices me greatly; but I don't have any contacts in that field.

Thanks for anything you can share.

I am just at the very early stages of my career in risk management, but I started off with an internship at a bank in their statistics/risk management group.
post #38 of 56
Am currently studying for Level III and can echo all the other sentiments about the studying time, etc. It really eats up your free time.
post #39 of 56
Quote:
Originally Posted by Trilby View Post
An alternative to the MBA for people who want a rigorous finance course is a 1-year Masters in Finance. Still requires going back to school, but I know a few lawyers who have taken a year out to do it.


The M.Fin is more for those who are from outside the securities law practice area who are trying to get into finance. Unless you can get it from a top school (NYU, MIT, Stanford, not sure if Penn does this) do not bother. The CFA is far more valuable than the M.Fin from any school outside of the top 25 (maybe even 15), precisely because it can be really damn tough to get.

"Finance" is such a broad term as to be almost useless. Technically the loan officer at the local Bank of America branch works in "Finance"(consumer banking, ick). If you are young, new to the field, or a recent graduate, then take some time to do your job and learn about he field before you being persuing a professional designation in the field.
post #40 of 56
Quote:
Originally Posted by feynmix View Post
not to hijack this thread, but any opinions on the FRM certificate? I am in the field of risk management, and my boss wants me to get it, but any experience with the exam or comments on the exam preparation would be great. I would probably be taking it in Nov 09.

I worked in market risk management for 12 yrs and did the FRM in '99, which I believe was the second year that it was offered. At the time, it was kind of a joke, but a lot of the concepts were worth reviewing, so I took it. I put pretty little effort into it and passed easily, partly due to how poorly the test was written.
I think the test itself has improved by leaps and bounds and it has some value as a designation. If you already work in risk, just reviewing the concepts themselves will be a good exercise. If your boss wants you to take it, you should. But within the industry, it's not a make or break designation.
Schweser (now Kaplan I guess) has test prep materials for it.
post #41 of 56
I had a professor who is CPA, CMA, CCA, CIA, ChFC, CLU, CFP, AIAF, CFE, CFM, and CBM.
post #42 of 56
BUMP.

I'm studying for Level III and it's driving me crazy.
post #43 of 56
It's that time of the year to crack the CFA books again... LOL
post #44 of 56
Quote:
Originally Posted by Flambeur View Post
It's that time of the year to crack the CFA books again... LOL

What level are you on?
post #45 of 56
My professor is on the CFA Disciplinary committee and he said the %s for passing were 30, 30 and 40 for level 1, 2, and 3 respectively. At least you level 3 guys have better chances this time around
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