Any finance/banking people on here who have studied for or taken the CFA exams? I haven't began yet, but I'm in the beginning stages of getting ready to prepare for it.

I know the pass rate is less than 50% for even the first exam and they recommend at least 250 hours of on-you-own study for each of the three levels.

I realize this will put a huge strain on any social/dating life I might have, but it's something that I think might put me over the hump for my long-term career prospects. Any thoughts from any CFA's or anyone who might have attempted or is attempting any of the exams would be fantastic.

2/26/2011 11:07:55 AM

My dad's a CFA and I really don't think you'll get much cred being a 20 or 30-something trying to tell old people how to manage their money. Stick with your MBA.

2/26/2011 12:51:51 PM

The pass rate is so low because half the people who take the test are morons.

2/28/2011 3:39:16 PM

I had a long talk with my department SVP today and he does want me to start preparing for it. Not necessarily for my current role and for right now, but because he thinks the experience and knowledge you acquire from just studying/preparing for it will exponentially help me as I progress within the department.

I'm certainly thinking I'm going to do it considering I landed in a very good spot and he is not necessarily requesting it, but encouraging it.

^^ not how my department works. I won't be telling old people how to manage their money necessarily. We don't function as a "financial adviser."

4/27/2011 6:26:40 PM

Guy I work out with has it, but he's also a tax lawyer w/ a CA, CPA, and CMA

4/27/2011 9:45:23 PM

My dad got his CFA as one of his later certifications after he got after the CPA and CFP. I think it made him a lot more aware of portfolio management as a whole, but yea it doesn't do much in the RIA area of finance or day to day portfolio management.

I would go for the CFP personally.

5/13/2011 10:05:55 PM