There are sample exams / questions on the CFA website, so anyone can easily gage with reasonable probability their ability to pass as a walk-in. That said, given that the info on the test is all going to be used in future endeavors of a CFA, cramming and artifically passing that test is pure stupidity. Just slowly accumulate knowledge over 2-3 years and all those tests will be a joke.

I'm considering an MBA, but very concerned that I won't be able to get into a top-15 school. My undergrad gpa was a 2.8 (yuck). I'm 27, and my work experience is all so-so, I've been kind of bouncing around.

How much value do the mediocre MBA programs have? I'd really like to try to find a company where I can see if I like finance before I go the MBA route.

-Z

Mediocre MBA degrees don't really have much value. 2.8 with so-so experience doesn't exactly scream top MBA program, so I wouldn't bother. How good a school did you go for undergrad? Are we talking Ivy, top liberal arts (Williams, Swarthmore), Stanford, MIT, Northwestern level, or a tier slightly below (Top public schools/CMU/NYU/BC)? Do you know anyone in finance or are many of your classmates or alumns from your school in that area? Where do you live and are you willing to relocate? Most importantly, what reason other than not liking what you're doing right now do you have for moving into finance?

Unfortunately, short-term, entry-level employment in finance has probably just about peaked.

I am by far no expert, but an MBA is nothing more than a door opener. It is meaningless if you are not able to perform successfully the job you are assigned to. In my experience I have seen a lot of top notch Ivy leaguers flop in the corporate world. Some/Many crash and burn under the heavy workload/stress factors.

True.

Since it has been pointed out that "analyst" is such a broad term, I am curious what specific career tracks are most relevant to the CFA curriculum.

Here's a link to an engineer blogging about his experience:

http://luminouslogic.com/path-to-the-cfa

I'm taking the Level I exam in June and received the books about a week ago. PM me if you want to share study materials.

What would be the benefit of someone taking the 3 exams( with no prior finance experience)as far as potential careers go?

What number of decimal places did you set on your calculator for the tests?

haha... does it matter?

well the BA II plus shows two decimal spots by default, but I have found on some problems it that is not enough; e.g. interest is .005 but the calc shows .01

For those who have taken it, which study materials do you recommend? How is Schweser?

[quote]
If u are VERY charismatic and just got an MBA, sure. U'll be in sales (whether iBanking or real sales, your job won't be very anylytical unless u want to trade and have big time math background)

i thought stalla was quite good. the lecture cd's/notes don't quite cover everything, but they should be more than enough to pass (particularly if you do a lot of the practice questions/tests).

Does CFA stand for anything? I can't find it on the website.

"Certified Financial Advisor" or something like that?

chartered financial analyst

Any sense that the designation is being cheapened with the tremendous growth in the number of charterholders?

http://www.cfainstitute.org/cfaprog/overview/facts.html

78k charterholders and 140k candidates currenly in the pipeline. That seems nuts to me.

from what i understand, the vast majority of the candidates will never earn the charter, so that 140k number seems scarier than it is. 78k is a lot more than i thought though.

That covers the whole world but if we just divide 78k by the number of adults in the U.S. (about 220m) then .035% (about 1 in 3,000) of people have it. I.e. almost everyone.

17 years since the start of this thread but posting this here in case anyone can answer:

I have just turned 40 years old. I have been playing poker professionally since 18. I accumulated money and largely indexed along with buying real estate. I did well. I finally got bored of poker and now in a position where I do not need to work.

I have started studying individual stocks.

I would like to become an independent investment consultant. How advisable would the CFA be for me? I think I would find it interesting. I do not want to work for others in a traditional firm but rather, be self-employed. I am fortunate enough to be in that position.

I understand that to receive the CFA charter, you need 4000 hours of work expereince within 36 months. My plan for that would be to maybe work with a friend of mine who is an accountant and take on tasks which are investment-related. Maybe financial analysis or working on client portfolios. I could also seek freelance consulting while taking on roles that involve researching stocks etc. I might reach out to small financial firms or wealth management companies to see if I can get a part-time position to accumulate hours. I could also volunteer and seek finance internships. This still provides hands on experience.

I am in the UK so if I were to eventually become an independent investment consultant, I ould need to be FCA registered. A CFA would enhance my knowledge and credibility.

Is this all doable at my age/the position I am in?

if you're doing it solely for the initials just make sure your work experience qualifies. i'm not sure how the Institute would treat/scrutinize freelance consulting experience.

having ", CFA" after your name may add some cred for your consulting role, but i feel like clients who would put the most weight on it would frown on relative lack of experience and it could be a wash. having access to local society chapter seemed decent for networking for job offers from competitors, but won't help you obtain clients

i would be surprised if you would "find it interesting" just for the sake of learning: you'll get good exposure to a wide breadth of dry finance topics (and inscrutable ethics rules) but little depth in any areas.

i've always viewed the program as a signaling device showing youre willing to give up some nights/weekends cramming for tests to get your foot in the door somewhere. if you're good at test taking you can get by with far less than the 300+ hours study they recommend per test.

GL

Thank you.