Few months back, a Live Chat took place on IAIP’s Facebook page where all the student’s/candidate’s queries regarding the CFA certification, job prospects etc were answered by the Directors of CFA themselves.
We are sure that many of you might have missed the session due to some emergency or prior commitments so we bring to you a recap of that session right here. Check if someone had a similar doubt as yours and if the answer provides you some clarity.
Question 1
Hi sir, thank you for organizing such an event. I’m from engineering background and currently will pursue my MBA in finance from a reputed college in Mumbai this year. I’d like to know how CFA can help me add value and if it can help me in getting into investment banking m&a kind of roles after I complete my MBA along with CFA? Also other than that what kind of roles will I be looking at after completion of my MBA and completing two levels in these two years?Â
Answer
CFA Charter should definitely help in the area of finance specialization that you are looking to build your career.
CFA Charterholders are currently being employed by entire finance chain including banks, investment management firms, PE, regulators and Corporate Finance etc. It depends on your interest and aptitude. Â
Question 2
What would be the Job prospects for CFA Charterholders in India?
Answer
The job prospects would depend on your other qualifications and experience. CFA candidates come from many different backgrounds. If you are a fresh graduate, CFA can help you find a job in the investment profession. If you are an experienced professional, it will improve your chances of finding a better job
CFA charter holders generally work as research analysts, fund managers, valuation specialists, consultants etc.
Question 3
Are there any services offered by CFA Institute for candidates which I can avail to get me a good job?
Answer
We are working on multiple ways to get jobs for candidates. This includes job and career fairs, CFA Jobline, promotions on third party job sites, and direct outreach to employers
Question 4
Can you elaborate more about passing percentage (the no of candidates that pass)
And the passing score(how much is it normally)?? Is there a relation between passing percentage and passing score???
Answer
The pass percentage varies from year to year and place to place. Around 40 to 50% of the candidates pass any level. Pass percentage is a bit higher for level 3. There is no fixed passing score. Every year, the standard setting process is used to set a level that is consistent over the years.
There is no relationship between our passing rate and the minimum passing score. For more information, please visit http://www.cfainstitute.org/…/Pages/cfa_exam_results.aspx
Question 5
Do you think we should have a dedicated placement cell/facility in years to come?
Answer
Yes, and we are working on various other initiatives to help employers connect with charter holders, keep track of our web page.
Further questions through comments
Q. I got the first one year subscription of Jobline for free, though there has not been much of activity since then. They have not asked for my CV or any other details.
A. You have to upload your resume and start applying for jobs on Jobline across the world. You will get shortlisted based on relevant skills/requirements.
Q. Will there be any charges for CFA candidates to avail these services?
A. Jobline is one of the benefits available for Free to members. As part of our outreach, we have given free access to Level 3 pass outs for a specific period.
Question 6
I am in final year of graduation now and if I am going to give my Level 1 exam in Dec 2015 (As student of final year of graduation can appear for Level 1) and if I clear my exam then can I appear for second level in JUNE 2016??
I am asking because while registering for CFA level 2 exam I will be only left with my Final semester of Final year of Graduation.
Answer
You need to complete your undergrad before registering for Level 2 unless you have four years of work experience that compensates for the educational qualification requirement.
Question 7
Hello sir, its so nice of you to arrange this event. I would like to introduce myself, I am a software engineer with one year experience in it. I Passed CFA level 1 exam in Dec 2013 and CFA level 2 exam in June 2014. Recently I have given level 3 exam in June and positive about the result. I have been trying for job since I passed level 1 but not getting any opportunity because of my lack of finance experience..I want to enter this field. Please suggest what I could do to enter in investment field
Answer
I would suggest, decide on which area of finance you would like to enter into. Typical employers for young CFA candidates are brokerage houses, KPO’s etc. I would suggest you to make full use to continuing education and networking events which society conducts and also work on projects to enhance your CV.
Further Questions through comments
Q. Thanks a lot Sir. I am staying in Dubai and due to exams I did not attend events before. But will surely attend in future. I am open to all fields but Equity and derivatives interest me the most. As of now I am open to any junior position or intern position to enhance my CV. But unfortunately I am not getting anything not even a single opportunity. I tried working as accountant for 3 months to get a practical knowledge for free. But still that is not helping. I had very positive hopes with this certification and I am sincere and dedicated person. but this making me lose my confidence. Do you suggest changing the place could help.?
A. The scope and opportunity in financial centre such as Mumbai, would definitely be lot larger…..however, you stand a better chance by focusing on companies which hire freshers
Q. Thanks Sir. Will work on your suggestion. Its really difficult to get a company that hire freshers in Dubai. Please suggest any additional short term courses will help other than passing CFA exams to get me through?
A. Look for the courses or skill building projects which are required for the job like excel modeling or may be research writing or similar domain knowledge.
Question 7
My query here is about the "Ethical Knowledge" which is being provided during CFA course tenure. Don’t you think it is highly contradictory with the real life situations?
Mostly, people make beneficial deals for themselves rather than for their clients or employers first, which is mostly against the ethical norms by the institution.
And yeah one more thing, it is seriously too difficult to find any job/employer who doesn’t require job experience for finance field. Even the basic and junior posts demand such high experience requirements which make it difficult to enter the finance sector for freshers like us.
Due to such circumstances I am also pursuing FRM along with CFA (*Level 1 cleared in 2014 Dec.), so that I could make a good living through core finance sector.
Answer
Ethical knowledge is not contradictory to real life situations. On the other hand, acting unethical is contradictory to professionalism. A professional is someone whom the customer can trust. And trust is a pre-requisite to a healthy long term business relationship
We are promoting the CFA charter to employers – the IAIP employer outreach committee and CFA Institutional Partnership team are working together on various initiatives.
So that was the Q & A session that took place on Facebook. We hope that all your doubts regarding the CFA certifications have been cleared.
If you are looking to pursue CFA and looking for training institutes, you can contact EduPristine. EduPristine is one of the leading CFA training providers that provide online as well as classroom training.
Find the course details here.
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