But the admission rate for columbia is like 9percent. And the pass rated the whole cfa is much higher - level three is like 90percent Anyway you keep believing what your believe off your one example. Good luck job hunting with your cfa.
I'm curious why anyone would want to become an analyst, when its well know they are wrong most of the time. Doesn't sound like such a compelling carreer path. What's the attraction? stepping stone to portfolio manager?
Lol, this is true, though the price targets are only a part of the role. Much like other jobs it's about relationships and they do have valuable insights into companies/management imo.
There are different analysts. The ones you hear about on TV tend to be sell-side analysts. They aren't paid to be right. They are paid on different metrics, often for being able to answer specific questions about a company or having a good relationship with the management. Buy side analysts are paid for being right as they are the ones funneling trade ideas to portfolio managers. The attraction is you can make a lot of money if your ideas are good, the jobs are more plentiful, and you have more personal hedges. An analyst can work in a finance department, investor relations, portfolio manager, etc. A successful portfolio manager gets paid more, a non-successful portfolio manager becomes a car salesmen.
So when you are pitching your services to your friends and family, obviously there are some marketing materials going on that likely includes the presentation of your historical results. Does the government regulate this process including how you may present your results? Or do they pretty much not care at this point because you are too small (as long as you are not lying about your results)? For instance, must your results be audited? Do they have to conform to some sort of presentation standard?
Anybody know if there are current CFA students here, or know of anyone that have passed this exam in the past 2 years? I have researched and notice that EXAM 1 is fairly easier of the 3 and can be studied from test prep booklets. EXAM 2 and 3 is where the difficult lies. If so, are there any particular forums I could go to? I figured this place has a lot of smart guys. I'm just an average guy w/ a bachelors in finance, but I just want a challenge and to further myself. - - - I notice a lot of people that have CFAs from the 80s, 90s don't necessarily use what they have learned, but rather hold respectable NON BS positions in the real world. A coupld of my supervisors have the CFA and are in SENIOR MGMT positions. It seems like they are smart by nature though. Like some of you have said, I don't know if the CFA will guarantee me anything, but I don't think I can go on life w/o trying to advance myself.
I have only two programs near me. One is a general MBA which caters towards working professional (3 year program). Another is a FMA (financial engineering) one which is a 1 year intensive program (full time). I do not want to quit my job and take the risk, but I don't feel like the MBA is something that will help me concentrate in investments. I know a CFA doesn't guarantee you a job, unless your a top student, chances are, average guys like myself need to do more. I'm not smart by any means and I learn slow, but I don't want to see myself stuck in the same position.
Having a BA in business with emphasis on finance what education/experience does one need to make the jump to risk manager?
Level 1 is 'easy' - in the fact that if you study enough, you WILL pass. Levels 2 & 3 are a whole different ball game. Hardest tests I've ever seen in my life, and I've taken actuarial exams. If you can't pass Level 1 after studying your butt off for 4-6 months, don't bother. You'll never pass Levels 2 & 3. Check out "analyst forum". That's where all the CFA candidates go. There are so many there that they shut down the site for 2 days during the exam to prevent people talking about it (which is counter-intuitive because it is graded on a kind of curve).