CFA question

[applicant01]

I am planning to take CFA level 1 exam in December and I would like to hear your opinions about it. Does it add "extra points" when applying for sales & trading grad schemes in investment banks? If so, how much value does CFA add to a good CV? It'd be great to know before committing time and money.

 

[applicant01]

I'm finishing my MSc this summer and I'm planning to apply to grad schemes in September. I can only take the CFA test in December but I guess I could indicate that I'm taking it soon on my CV or applications. Does that make sense? Do you think that recruiters will take it into account?

 

[Magos]

I am planning to take CFA level 1 exam in December and I would like to hear your opinions about it. Does it add "extra points" when applying for sales & trading grad schemes in investment banks? If so, how much value does CFA add to a good CV? It'd be great to know before committing time and money.

I will agree with all the above. Applying for an investment bank is always difficult and competitive. BUT what you should do first is find out in which department you want to work in the Investment bank (Corporate, HR, IT, Sales and Trading, etc.) and then think about CFA
Example
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If you want to do M&A for instance CFA is the way forward:smart:

 

[applicant01]

So would you say that for trading Level 1 isn't that useful?

 

[Magos]

So would you say that for trading Level 1 isn't that useful?

I wouldn’t say that 100% some investment banks are strange and require it . (also MBA, CFA, Phd,…etc all good for promotion)

But according to Prospects.ac.uk - Graduate Jobs, Postgrad Study, Graduate Career Information / Advisory Service for trading you are required FSA’s and SII diploma max (education)
No Mba... but then again different banks different policies.

Remember the markets are really- really bad at the moment. For instance look at Lehman’s now days. Do you think they are hiring junior traders(only a few)????

In the end of the day the more qualifications you have the better you are. (Try not to get overqualified 🙄 )

The easiest way to land an interview in a IB is either through an IVY college or an Oxbridge University. :smart:

 

[applicant01]

I see. I'm graduating from Cass Business School. I got into Bear Stearns in February but you know what happened several months later. My grad offer was withdrawn due to the merger. I think I have a fair chance of getting into a good investment bank this time again but I also was thinking how to improve my CV because the competition this year will probably be even worse. I guess taking CFA would only help.

 

[Magos]

Oh man sorry to hear that.

CFA can help but then again who is going to sponsor it u?, the new company ? time? are you going to work and do it?

Bear Stearns was a top company in its time.

New graduate courses applications now are gone for IB you can only try for next year.

Difficult choice!!!

 

[applicant01]

Yeah, I now. I'm going to re-apply to grad schemes in September, which means I might waste a year (I don't have alternative job offers at the moment). So I thought that doing CFA would be useful. Either way I'll have lots of time while re-applying to grad schemes. I would finance it myself. Even if I get a job at some smaller place in late autumn or winter, I could still take CFA.

 

[Magos]

I wish you good luck man.
I think you made your choice