CFA Discussion

[rEd06]

^ like how expensive?

i am preparing for my CIA exam but i heard CFA also offers a promising career.

[Hulk]

Impact of the Chartered Financial Analyst (CFA) Designation on Compensation

The 2005 study once again illustrated that employers are willing to pay a premium for investment professionals who have earned the coveted Chartered Financial Analyst™ (CFA®) designation. Among those with 10 years experience or more, those with the CFA designation out-earn their peers without the charter by 24 percent (median of $248,000 vs. $200,000). The gap is even wider among all respondents, regardless of levels of experience; those with the CFA designation command compensation levels 54 percent higher than those without it ($180,000 vs. $116,850). As for the value of the CFA designation compared to an M.B.A., the study shows that for professionals with 10 years experience or more, those with the CFA designation out-earn those with only an M.B.A. by 18 percent (median of $236,510 vs. $200,000); however, the combination of the charter and an M.B.A. ultimately proves to the most lucrative educational mix (median of $255,000).

“Employers recognize the value of the CFA charter because it’s a measure of both competence and integrity,” said Bob Johnson, PhD, CFA, managing director at CFA Institute. “Those are difficult qualities to measure, but when investment professionals have voluntarily subjected themselves to the profession’s most rigorous examination process, and succeeded, that obviously sends an important message to employers.”

from www.cfainstitute.org

[Hulk]

Hi!!!

I graduated last year with a BSBA but I'm currently working in a sales job for a MNC. However I am very interested in shifting to a finance career and getting a CFA certification..Can you please give me a listing of local banks/financial institutions that could provide excellent work experience and training/support in preparation for the CFA charter?

The more crucial consideration is what group in a financial institution you should be part of. I would recommend Treasury, Investment Banking, Risk Management and/or Research. Remember a credit analysis job is not part of the Job Classification List. IMHO, you could easily gain better exposure with smaller firms like investment houses because you are required to multi-task because of the lower headcount.

Investment Houses - FMIC, MIB, ATR Kim Eng, AB Capital, PCCI, Unicapital, BPI Cap, BDO Cap, etc.

Cost of Level 1 (2005)
US$ 735 to US$1,120 depending on how early you register (excluding books)

As I've said in an earlier post, the CFA Institute might be include the cost of reading materials in their fees for 2006. I estimate an additional US$300 to 400.

A review course in AIM will set you back another P50,000. Of course you could always review by yourself, like I did.

[tRiStAn]

Hulk: Lester!!! Musta na?!

Been entertaining the thought for a while, but I'm afraid I'd stick to the actuarial exams muna. Maybe in the next five years I'll try the CFA exams.

[Hulk]

Dude!

Hehe! Hindi ko na nakikitang mag-post yung mga kalaro natin ah. Masyado atang busy sa trabaho. Still working for an insurance firm? If you are, better pa rin siguro ang actuarial.

[tRiStAn]

Hulk: No, I think CFAs are gaining ground over actuaries. These days it's better if you're both a CFA and an actuary.

[Hulk]

Yep, kaya nga I also got an MBA. Pero your market value will really rise kung sasamahan mo ng mahusay na work experience, so you can command big bucks!

[Hulk]

<Bump> for feisty_virago

[vicaimmonen]

Hulk, can you give me some background about being a CFA charterholder? I am an industrial engineer right now and about 2 years ago, my aunt who lives in U.S. suggested to me if I would like to become a financial analyst.

I never paid attention to it that much but after reading the initial discussion in the academe, then here, my interest in exploring that option grew. Can you give me some tips on how to start venturing for a financial analysis career?

Hope you can share some light on this issues of mine. Thanks a lot.

[grim_reaper1814]

I'm currently taking up Accountancy and Commerce Major in Financial Management. Nababahala ako kasi nagpalit ng guidelines yung CFA institute. Dati pwede kumuha kapag accountant ka, ngayon hindi na. Paano na ako?

[Hulk]

vicaimmonen: Your target companies should be banks, investment houses and stock brokerage firms. Your target departments should be treasury, investment banking, trust, risk management and research. You need to get a job that manages portfolios, makes investment decisions, performs valuation and trades.

grim_reaper1814: If I remember correctly, an accountant job classification is not an outright disqualification as it falls under the category of jobs requiring an explanation. So if you can justify that your job include functions such as financial decision-making and valuation, then you should be fine. The harder part is finding a CFA charterholder to vouch for your explanation. Hehe! Mas strict na kami ngayon kasi na-cite kami dati na liberal daw kami in endorsing candidates. Anyway you need the endorsement kapag napasa mo na yung 3 exams. Meanwhile look for a job that falls under the institute's classification.

[grim_reaper1814]

magbabayad ka ba para inendorse ka ng isang charterholder?

[o8si5]

HoYaSaXa - right now, there's actually no question in my mind that i have to take the Level I next year. it's just the realization of actually sitting down and hitting the books in between having a life and working my as$ off. but a few buddies of mine who are in the same field(Equity Analysts, Ibankers, Financial Consultants) are forming a CFA study group...i'm not the biggest fan of group studying but rather, we are just going to be there and study in the same place just to act as motivation and encouragement...i hope this will work because i'm really dead-set in doing this.

anybody out there who are designated CFAs? any study tips? a lot of people just told me to study, study, study. haaay...

ey, good for you! i hope i can be part of your CFA study group im a registered representative, i took the NASD Series 7 and 63 more than a year ago. most financial advisors in the US have CFA designation and im really considering to take it (seriously) in the near future.

[o8si5]

sorry if this is out of topic but, would anynone know how to get certification here in the phil. for CFP(certified fin. planner)? tnx!

[Hulk]

magbabayad ka ba para inendorse ka ng isang charterholder?

Nope, di naman kailangan. Ako requirement ko basta magandang chick, pipirma ako!

[grim_reaper1814]

eh paano kapag lalaki?

[Hulk]

The Association of Investment Professionals – Manila

In coordination with the CFA Institute

Cordially invite interested finance, banking and investment professionals to the

CFA Information Night

At 6:30 p.m. of Wednesday, August 24, 2005

At the Balmori Room, the Peninsula Manila, Makati City


The event will serve as an introduction to the Chartered Financial Analyst (CFA®) program, its requirements and benefits.



Cocktails will be served
Attire: Business Casual
For more information, contact Denis G. Du
at tel. 849 8926 or
denis_du@atr.com.ph

[j_l_uy]

This will be one of those day that I regret attending to my masteral class since I will be taking my final exam also on august 24.

Hulk, is there other days which the AIM-Manila will held this event?

Also, how did you pay for your exam? Online? or is there a institution (AIM-Manila) in the philippine that actually facilitate the payment for the upcoming CFA exam?

Lastly, if you paid online. What instrument (credit cards, checks, etc) would you recommend?

[Hulk]

Sorry, it's a one-time event.

It's easier to register and pay online para makatipid ka sa courier services. Visa or Mastercard will do. Ako kasi dollar draft kasi company ko yung nagbayad ng registration fees ko.

AIPM doesn't process registrations, we're here just to promote the CFA brand, give away scholarships and get free trips.

[j_l_uy]

Thank you Hulk.

What previleges for being a member of the AIPM!