IMC or CFA... or both?

This is a discussion on IMC or CFA... or both? within the Home Trader forums, part of the Trading Career category; I am also thinking of adding a degree like the CFA to my normal german university education but I am ...

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Old May 1, 2011, 8:51pm   #17
 
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Re: IMC or CFA... or both?

I am also thinking of adding a degree like the CFA to my normal german university education but I am not sure how learning for both University Master degree and CFA will go together.
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Old May 2, 2011, 11:31am   #18
 
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Re: IMC or CFA... or both?

I used to work at an asset managers. The IMC was treated as a way to get you FSA registered to allow you to do FSA monitored Functions.

The CFA is a lot harder and is required by some companies to show that they have cleaver people running your money. If you want to work for the sell side then they really don't care if you have it or not at some places.

My question is to both of you what do you actually want to do in finance. There are so many jobs in Finance that you will have to specify that you want to be an analyst or to be a fund manager to actually need the CFA.

I always have seen the CFA as a stamp for a person or employer to show that they understand how to run money and analyse a stock, it doesn't mean your a good manager of money or can make money if you have it.

If your 37 doing the CFA is probably not worth it. But really again what job are you looking to enter.
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Old May 6, 2011, 4:45pm   #19
 
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Re: IMC or CFA... or both?

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Originally Posted by nicktids View Post
I used to work at an asset managers. The IMC was treated as a way to get you FSA registered to allow you to do FSA monitored Functions.

The CFA is a lot harder and is required by some companies to show that they have cleaver people running your money. If you want to work for the sell side then they really don't care if you have it or not at some places.

My question is to both of you what do you actually want to do in finance. There are so many jobs in Finance that you will have to specify that you want to be an analyst or to be a fund manager to actually need the CFA.

I always have seen the CFA as a stamp for a person or employer to show that they understand how to run money and analyse a stock, it doesn't mean your a good manager of money or can make money if you have it.

If your 37 doing the CFA is probably not worth it. But really again what job are you looking to enter.
For me it would be more to Analyze more then anything... and it would probably be for myself and my trading plan with the added bonus to get into the field myself with the finance industry. In addition, it is more of a passion and interest rather than a career move... Again, i am a Science Teacher who has found and worked on a small number of great systems that has worked well for me and am waiting until it make 4 times as much profit a month (or the year ie 4:1 ratio) due to the wonderful works of compounding for me to leave teaching altogether and maybe do something else part time or even FT... or, even for free for the experience and the buzz (if any) in finance area ... somewhere that involves what i do already and, being a scientist, love analyzing things.

And i appreciate your honesty with my age and the worth of doing the full CFA quals and wasting my time and effort (and you maybe right). But, i have been told by another CFA member that he has another person in the industry just finished his CFA and is working well and is in his 40's.

But i don't want to slog for someone else early morning (actually i dont mind early morning) till very late at night (well i am a family man). It seems that type of work is all for them youngsters out there in their 20's with no other family commitments; and when they move up the rank spending less time at work, earning more and spending more time (and money) with the family... I think that train may have gone for me (unless there are other positions 9-5 where i just analyze and come home to a family instead of traveling around the world getting clients etc etc; not TOO bothered about pay, just want the experience... well... as long as its not too lower than a teachers top of the scale pay...)
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Last edited by MaxiV; May 6, 2011 at 4:49pm. Reason: typo
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Old May 7, 2011, 4:32am   #20
 
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Re: IMC or CFA... or both?

So your a scientist. What type of scientist. Do you have a degree in Chemistry or Physics.

The only analysts that are in demand in the world of finance are Quants or Quantitative Analysts.

You may be able to find somewhere that will take you if you can prove your coding and mathematical skills. But you will be starting off at the Junior level and would be paid quite well. But you will have to prove yourself.

There are specific Quant courses you could take to become accredited.

On the other hand what type of analysis were you thinking of doing? There is analysis in many jobs in Finance. Really have you been thinking of front office role involved in making decisions for trading. You could look at the opportunities in the Back and middle office. There are roles for portfolio analysts who describe in detail where returns on a fund came from. Also moving in to become an accountant could be a wise move.

You will get paid more than teaching but will never shoot the lights out so to say as the front office guys can do.

This being a trading board your doing analysis for trading I'm sure.

You mention a guy at 40 who did the CFA well yeah as you say he was already in the industry.
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Old May 13, 2011, 9:23am   #21
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Re: IMC or CFA... or both?

Realistically, equity research is MBA entry at associate level (around the age of 30).

For quant, programming is the most important (C++ in particular), but a PhD is pretty much standard.

However, private wealth management is a realistic option, and requires RDR compliance (IMC + CFA Level 1).

See attached.
Attached Files
File Type: pdf Meeting_RDR_requirements___CFA_and_IMC___April_2011.pdf (43.4 KB, 483 views)
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Old May 16, 2011, 4:14pm   #22
 
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Re: IMC or CFA... or both?

MaxiV started this thread
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Originally Posted by nicktids View Post
So your a scientist. What type of scientist. Do you have a degree in Chemistry or Physics.

The only analysts that are in demand in the world of finance are Quants or Quantitative Analysts.

You may be able to find somewhere that will take you if you can prove your coding and mathematical skills. But you will be starting off at the Junior level and would be paid quite well. But you will have to prove yourself.

There are specific Quant courses you could take to become accredited.

On the other hand what type of analysis were you thinking of doing? There is analysis in many jobs in Finance. Really have you been thinking of front office role involved in making decisions for trading. You could look at the opportunities in the Back and middle office. There are roles for portfolio analysts who describe in detail where returns on a fund came from. Also moving in to become an accountant could be a wise move.

You will get paid more than teaching but will never shoot the lights out so to say as the front office guys can do.

This being a trading board your doing analysis for trading I'm sure.

You mention a guy at 40 who did the CFA well yeah as you say he was already in the industry.
Thanks for the input Nicktids. I'm a Biochemist BSc (Hons) and then did a PGCE.
I don't want to be an accountant... started the CIMA foundation and wasn't for me esp starting at the bottom and doing the same thing. I have more books on the markets and shares, Technical Analysis, etc etc then any other books on business.

You seem to know a lot on the analysis side of the financial world... i'm not sure what type of analysis i would want to do... maybe i will have a better idea when i get into the courses and what have you. However, i like the point you made that i can still make more money as a teacher even at junior level... is that so? I get paid more than £30K per yr... does it beat that? If so... this may be for me so give me details

If i enjoy all this... who knows... may go into all this to front office. And what do you mean by, "never shoot the lights out"

Quote:
Originally Posted by Joey25 View Post
Realistically, equity research is MBA entry at associate level (around the age of 30).

For quant, programming is the most important (C++ in particular), but a PhD is pretty much standard.

However, private wealth management is a realistic option, and requires RDR compliance (IMC + CFA Level 1).

See attached.
Thank you for this Joey.... looks like i'll be heading for this direction from next year Jul 2012. Again will see...
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Old May 17, 2011, 10:16am   #23
 
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Re: IMC or CFA... or both?

Shoot the lights out = get a massive bonus at the end of the year, you can get good bonuses in back office but they are always lower than front office ones.

If you interested then look for portfolio analyst positions. Yes you can progress to a front office position. Salary will depend on experience, back office roles start 25k-30k depending on degree for straight out of uni and go up from there.

Its really about finding roles and go for it. But if your going to get the CFA before you switch jobs then you will be looking for more money than that.
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Old May 17, 2011, 4:19pm   #24
 
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Re: IMC or CFA... or both?

MaxiV started this thread
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Originally Posted by nicktids View Post
Shoot the lights out = get a massive bonus at the end of the year, you can get good bonuses in back office but they are always lower than front office ones.

If you interested then look for portfolio analyst positions. Yes you can progress to a front office position. Salary will depend on experience, back office roles start 25k-30k depending on degree for straight out of uni and go up from there.

Its really about finding roles and go for it. But if your going to get the CFA before you switch jobs then you will be looking for more money than that.
Are you in the industry may i ask? You are very knowledgeable in this area... i may pick your brains later on for further info...

And thanks for the website link... this will come in very useful.

One question... whats the work like at the back office (ie hours of work, any traveling involved or is it desk work... which i don't mind)
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