IMC or CFA... or both?

MaxiV

Active member
Dec 1, 2010
955
2
28
twitter.com
#16
MaxiV,

The IMC is worthwhile doing based on your decision to make a career move as it is the recognised benchmark for knowledge. Additionally new regulation that came about at the end of 2010 recognises people with the IMC + CFA level one as being able to legally provide investment advice which when applying for jobs is a going to hold you in good stead for a number of positions.

https://secure.cfauk.org/qualifications/rdr.html
Had a read of that... and thanks.... i think thats what i'll do now, but next year... too much on this year.... will see what i do closer to the time. Thanks again.(y)
 
May 1, 2011
1
0
11
#17
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.
 
Oct 12, 2004
11
0
11
Poole
#18
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.
 

MaxiV

Active member
Dec 1, 2010
955
2
28
twitter.com
#19
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...)
 
Last edited:
Oct 12, 2004
11
0
11
Poole
#20
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.
 

Joey25

Well-known member
Mar 30, 2005
872
236
53
#21
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.
 

Attachments

MaxiV

Active member
Dec 1, 2010
955
2
28
twitter.com
#22
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 (y)

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":?:

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...:smart:
 
Oct 12, 2004
11
0
11
Poole
#23
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.
 

MaxiV

Active member
Dec 1, 2010
955
2
28
twitter.com
#24
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)
 
Oct 12, 2004
11
0
11
Poole
#25
Started as a trader for myslef out of uni, found this site. Was not for me straight out of uni. Did a temp job at a major IB then got a perm job up in London in the Back office (easy hours 9-5 with overtime, no travelling, desk work but rewarding set tasks to be complete on time each day/week/month). Moved up to front office quickly and stayed there until became Junior Portfolio Manager on Global Macro funds. Quit my Job as no career progression, Gone travelling around the world, now based myself in HK to hunt for jobs in Asia.

Set up this site http://investment-banking-career-sites.blogspot.com/ to share my bookmarks with the world as direct links to IB and asset management search pages.
 

MaxiV

Active member
Dec 1, 2010
955
2
28
twitter.com
#26
Started as a trader for myslef out of uni, found this site. Was not for me straight out of uni. Did a temp job at a major IB then got a perm job up in London in the Back office (easy hours 9-5 with overtime, no travelling, desk work but rewarding set tasks to be complete on time each day/week/month). Moved up to front office quickly and stayed there until became Junior Portfolio Manager on Global Macro funds. Quit my Job as no career progression, Gone travelling around the world, now based myself in HK to hunt for jobs in Asia.

Set up this site http://investment-banking-career-sites.blogspot.com/ to share my bookmarks with the world as direct links to IB and asset management search pages.
Wow thats great>>>> what is it you did at uni and did you do any prof'nl quals? I want to end up on the asian side and move there too.

How long did it take you to go from BAck to Front office?
 
Oct 12, 2004
11
0
11
Poole
#27
10 months to move back to front after I arrived at the company.

I studied Chemisty and have the IMC and the society of technical analysts diploma (MSTA).

Thinking about doing the CAIA now.
 

MaxiV

Active member
Dec 1, 2010
955
2
28
twitter.com
#28
10 months to move back to front after I arrived at the company.

I studied Chemisty and have the IMC and the society of technical analysts diploma (MSTA).

Thinking about doing the CAIA now.
Where did you do your Chemistry? Why a change into doing the IMC? and whats the CAIA?

Just thinking... if you done well with IMC and a other quals... i may as well do IMC and the first level CFA.

Are you in your 30s? (sorry... don't mean to be rude by asking age... dont have to say if you dont want to).
 
Oct 12, 2004
11
0
11
Poole
#29
Did chemistry as just a tough course to do.

Did the IMC cause my company demanded it of me to be able to be compliant to trade. IMC is nothing like the CFA you can complete it in a couple of months if or less if you just do the exam questions in the back of study guides they are the same as in the exam.

CAIA google it Chartered Alternative Investment Analyst, slightly different and cheaper to take than the CFA but more specific on alternative investments which is where my skills lie, coming from Macro funds, I don't need all the info on single stock analysis in the CFA.

Under 30.
 

MaxiV

Active member
Dec 1, 2010
955
2
28
twitter.com
#30
Did chemistry as just a tough course to do.

Did the IMC cause my company demanded it of me to be able to be compliant to trade. IMC is nothing like the CFA you can complete it in a couple of months if or less if you just do the exam questions in the back of study guides they are the same as in the exam.

CAIA google it Chartered Alternative Investment Analyst, slightly different and cheaper to take than the CFA but more specific on alternative investments which is where my skills lie, coming from Macro funds, I don't need all the info on single stock analysis in the CFA.

Under 30.
Im glad i came across the CAIA, thanks for that; this is more like me. there is Kaplan that do this in the UK that i can find.


What other quals are there out there besides CFA?


... ok just seen CISI through Kaplan<<< anyone know whats this like and is directed to?

But i am more interested on CAIA now. Is there any involvement in the FOREX markets in any of these quals?
 
Last edited: