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'm a science teacher with a BSc (Hons) and PGCE in the UK and have been trading just over 10 ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Dec 2, 2010, 1:20pm   #1
 
MaxiV's Avatar
Joined Dec 2010
IMC or CFA... or both?

I'm a science teacher with a BSc (Hons) and PGCE in the UK and have been trading just over 10 years now. I have a keen interest in the mechanics of the markets and how they move and work and have read many, many books on them.

I came across CFA and looked into it and was interested in the syllabus although I am aware of its complexity and that it can be "hard". Then I came across IMC which seems less complex and can be completed in two months if you put in the efforts.

I may be just doing this for my general interests and passion for this area (wish I was directed to this when I was younger). Now at 37 and stuck in a wage trap... is there any point? But I really want to read and gain something about the financial worlds since I have been trading so long and have self trained/learned and read good books on different trading techniques, methods and about the different sectors of the markets (options, swaps, Futures, FOREX etc).

Should I, shouldn't I? IMC or CFA...or Both?! Any point at this time of my life and career; any point changing careers now? What's it like out there?

Any input most greatly appreciated
MaxiV is offline   Reply With Quote
Old Dec 2, 2010, 7:27pm   #2
Joined Jun 2009
Re: IMC or CFA... or both?

if something is easier its probably not as worth it imo.
Im a final year finance student(will be 25 in march)) and personally going for CFA.
Your current job is in teaching tho so I cant see how either will help your career as you are not in business/finance unless you plan to change soon.
37 is definitely not too late to change
Yoshie is offline   Reply With Quote
Old Dec 3, 2010, 12:25pm   #3
Joined Feb 2008
Re: IMC or CFA... or both?

take a look at the criteria for CFA qulaification. And it is very expensive if unsponsored. IMC I don't know much about-sorry.
gooseman is offline   Reply With Quote
Old Dec 3, 2010, 1:03pm   #4
 
scose-no-doubt's Avatar
Joined Apr 2010
Re: IMC or CFA... or both?

As a jobseeker I see a lot of vacancy adverts and based on those I'd say given your science background, go for a Physics MSc, do your IMC and then give BPP/Kaplan/Recruiters a call and see what quals are in demand for the type of post you want. Do it, get to work on your apps then cross your fingers.

There's also prop if you're already making money. I dunno anything about those though but a lot of people on here do and there are already some threads on the subject.

Good luck, whatever you do.
__________________
"What the **** is going on here?!" - Mickey B

Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!
scose-no-doubt is offline   Reply With Quote
Old Dec 3, 2010, 11:38pm   #5
Joined Sep 2008
Re: IMC or CFA... or both?

The way I understand it, CFA is basically the creme de la creme of investment/financial analysis professional qualifications, hence the price tag and expected duration it'll take to complete.

There is nothing more useless than doing the IMC with the intention of also doing the CFA. Doing the IMC will perhaps give you a couple of exemptions for the early CFA stages (the regulation based modules), but you're far better off using that time to crack on with the CFA straight away.

However, if you don't have the time/money for the CFA, the IMC is certainly something that recruiters will look at in a positive light. All depends on what you want to do, really. If you want to go straight into trading, I'm not sure how useful any of the above qualifications will be. Prop houses tend to look for other qualities. If you want to go into analyst roles in the City, obviously the qualifications will be a massive help.
sk1105 is offline   Reply With Quote
Old Dec 8, 2010, 7:22pm   #6
 
MaxiV's Avatar
Joined Dec 2010
Re: IMC or CFA... or both?

MaxiV started this thread Thank you all for your swift replies.

Yoshi: I intend for a career change and not to use it in my current science teaching post. However, thanks for saying 37 is not too late to change; made me feel better.

Gooseman: cost is not an issue... but is it true I need to be in the job field to do CFA?

scose-no-doubt: I'm still in my job but thinking of change to my passion in the Markets and get more involved instead of doing this at home early in the morning or last thing at night (and come awayfrom teaching). Dont want to do the MSc in Physics but, I am interested in what you said in your last paragraph. Could you direct me to them posts? Much grateful, thanks.

sk1105: Good point... CFA def' looks like the way to go... and yes analysts is the thing im good at... But you said there are other qualifications (or was it qualities)... i already trade at home (have been for over 10 yrson and off). I just want to get into the finance (not accounting... did the first bit of the CIMA but found that pay wise I had to start at the bottom of the pay scale ie im stuck in a wage trap... prob'y get paid more than some accountants at the moment).

Just want to know whats out there (career wise) to get involved in the Financial Markets world. Does my current trading experience and data count? Also, I want to fill in any gaps of the knowledge too (especially the technical side).

BTW how long on average can it take to do a CFA (and do i really need to be in the field of work?)
MaxiV is offline   Reply With Quote
Old Dec 23, 2010, 5:26pm   #7
 
8 Posts
Joined Jun 2004
Re: IMC or CFA... or both?

Quote:
Originally Posted by MaxiV View Post
Thank you all for your swift replies.

Yoshi: I intend for a career change and not to use it in my current science teaching post. However, thanks for saying 37 is not too late to change; made me feel better.

Gooseman: cost is not an issue... but is it true I need to be in the job field to do CFA?

scose-no-doubt: I'm still in my job but thinking of change to my passion in the Markets and get more involved instead of doing this at home early in the morning or last thing at night (and come awayfrom teaching). Dont want to do the MSc in Physics but, I am interested in what you said in your last paragraph. Could you direct me to them posts? Much grateful, thanks.

sk1105: Good point... CFA def' looks like the way to go... and yes analysts is the thing im good at... But you said there are other qualifications (or was it qualities)... i already trade at home (have been for over 10 yrson and off). I just want to get into the finance (not accounting... did the first bit of the CIMA but found that pay wise I had to start at the bottom of the pay scale ie im stuck in a wage trap... prob'y get paid more than some accountants at the moment).

Just want to know whats out there (career wise) to get involved in the Financial Markets world. Does my current trading experience and data count? Also, I want to fill in any gaps of the knowledge too (especially the technical side).

BTW how long on average can it take to do a CFA (and do i really need to be in the field of work?)
MaxiV,

I wouldnt go wasting your time with anything IMC or CISI (lower than FSA level 4) - these are basically benchmark exams - plus, there are NO exemptions from CFA at any level from any other body which might be worth noting.

I know a few chaps who have completed the CFA exams in 18 month (started at the December level 1 stage), I also know people who have picked up the notes 5 weeks before the exam and passed (atleast that's what they told people) but these guys are usually the exeption to the rule - I'm currently a candidate, I'd say if you're thinking about it and have the time and have a natural and keen interest in financial markets then its certainly worth doing - the only problem is the volume and breadth of the learning involved. Difficult but not impossible at level 1.

http://www.investopedia.com/exam-gui...ics-standards/

When you register for the exam you'll be given the CFAI books which are obviously very good if a little dry. The Notes are well worth getting but a little on the expensive side

http://www.schweser.com/cfa/cfa1.php
You can usually get these off gumtree after june for knockdown prices.
Other cheaper providers include people like Allen Resources - the test database
http://www.allenresources.com/ cost $99 - direct questions (not much like the CFA actual) but good enough for learning prompts. you can jack it all off the web though... although this (as the CFAI will drill into you) is a "violation of standards".

Also note that no matter how long it takes you to pass all three stages you wont recevie your charter unless you know other charterholders and have had 3-4 years of investment decision-making experience.

Hope this helps!
Don-e is offline   Reply With Quote
Old Jan 4, 2011, 7:03pm   #8
 
MaxiV's Avatar
Joined Dec 2010
Re: IMC or CFA... or both?

MaxiV started this thread Thanks Don-e

Yes that really does help... i was going to ask about the CISI qualification too, but you sorta mentioned it here. BTW what is the difference between IMC and CISI?
__________________
Trade like a Samurai: with discipline but without emotion....
http://twitter.com/MMVaghela
MaxiV is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
IMC or CFA or FRM or SII Certis shwet First Steps 5 Nov 11, 2011 8:01pm
CFA qualifications? SanMiguel Home Trader 24 Feb 27, 2011 7:48pm
cfa exams sam_w Home Trader 7 Oct 1, 2009 4:10pm
CFA Advice Adnan28 Home Trader 0 Jul 4, 2009 3:48pm
Should I take the CFA course? hlpsg First Steps 29 Jul 4, 2008 4:33am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)