CFA vs CAIA

[Dante26]

Hi guys,

Im new to the site and Ive been reading through the boards and I think there are some knowledgeable people on here giving sound advice.

I would like to move into the alternative fund industry and Im interested in taking either the CFA or the CAIA as an entry route but Im unsure which. The way I see it there are pro's and con's of each and I would appreaciate advice from everyone particularly fund managers/analysts.

CFA
Pros:
1. Established/widely recognised
Cons:
1. Takes longer to gain designation (3-levels not 2)
2. Lost 'value' due to high number of holders

CAIA
Pros:
1. More applicable
2. Fund industry moving in this direction
3. Less holders so more valued (?)
Cons:
1. Not widely recognised

I have made some assumptions based on my own research but those assumptions may be disagreed with and I'd appreaciate reasons why and any other comments.

Thanks!

 

[EXCELinManagement]

I will go for CFA. First it is more recongnised than CAIA, that means more opportunties in the relevant field.
Secondly, even there are more holders, having a CFA cert will not lower your 'value', a CFA is still a CFA, it is considered as one of the most difficult cert in the financial industry ( if you passed all three CFA tests). That will show that you are a true professional in the field, just like an MBA.

 

[Dante26]

Thanks very much.

I was veering towards that conclusion myself.

Do you have experience in the fund management industry?

Thanks

 

[Magos]

CFA

not even need to explain why!

 

[MaxiV]

have a looks at this with more talk on this... i am in the same situation

http://www.trade2win.com/boards/general-career-advice/110710-imc-cfa-both.html

 

[MaxiV]

....also, how long would a CAIA take to (excluding the experience needed for chartered)

 

[fiftyfifty]

There is a few guest comments on efinancial about this issue
If you want to work in a hedge fund should you do a CFA

I would have said that CFA is a decent qualification but is time consuming. If it's in order to get into the industry, then maybe your time would be better spent doing some internships and when/if a job offer comes along then base your decision on the value your employer puts on each. I am currently signed up for level 3 next summer.

CAIA is definitely quicker, not just as only two levels but also smaller curriculum from what I've heard.

 

[MaxiV]

There is a few guest comments on efinancial about this issue
If you want to work in a hedge fund should you do a CFA

I would have said that CFA is a decent qualification but is time consuming. If it's in order to get into the industry, then maybe your time would be better spent doing some internships and when/if a job offer comes along then base your decision on the value your employer puts on each. I am currently signed up for level 3 next summer.

CAIA is definitely quicker, not just as only two levels but also smaller curriculum from what I've heard.

ok so you mean voluntary work? so what do you do, just write and send a CV, or call them??? what>>> I was told this by someone else too but dont sorta know how to go about it.

...and thank for that link... very helpful.... i am going to start the IMC over the AUG 2012 and finish it and then start finding internships of work shadow or... voluntary work... or whatever you call it (although i will be 38 by then....)

 

[fiftyfifty]

Unfortunately I do mean unpaid work. There's certainly more people in finance with experience without work, so for someone without experience offering to work for free (unless you have a great CV already) may be the only way to get in the door.

I've never done this so not sure if there is anywhere to find out about available internships. First thing I would do is figure out where you'd like to end up, then draw up a short list of top firms in the field. After that do some research and then start cold calling or hitting people up on linkedin. Ok, this may not be the right advice but hopefully it produces some results. Obviously if you have any contacts in the industry/area you want to work in then talk to them first and get their advice.