Anyone doing the CFA here? (1 Viewer)

[followthe$$s]

Hi everyone,

I finished uni last year and was wanting to start the CFA (december exam) but have noticed the lack of study support. So i wanted to combine it with the Masters of Applied Finance, but i noticed that the masters requires 2 years min experience??

not to mention the need to attach a resume to the application

just wondering if you guys have any thoughts and ideas that can help me (and whether you know the two years experience is a must)

cheers

 

[Supra]

combining both at the same time would be a hell of a workload. MAppFin does not give you any exemptions, however it is apparently the best preparation for the CFA exams.

I wanted to do the MAppFin but I, too, may be restricted by that two year requirement. You have to prove specifically how your work is relevant to applied finance.

 

[followthe$$s]

so then it would seem that i wouldn't be accepted into the masters program, meaning I have to start the CFA by itself

and if the workload is too much to handle (though I thought the masters was designed to go pretty much hand in hand with the CFA, with 70% overlap??) then perhaps after I finish the CFA i can go back for the masters

 

[sja]

so then it would seem that i wouldn't be accepted into the masters program, meaning I have to start the CFA by itself

and if the workload is too much to handle (though I thought the masters was designed to go pretty much hand in hand with the CFA, with 70% overlap??) then perhaps after I finish the CFA i can go back for the masters

This is how it works.

The CFA is a very extensive and rigorous course. You will basically get ANY job in Finance anywhere in the world with this. You can't be rejected, seriously.

The CFA has its own study program which means you must find time to study YOURSELF. And you must buy notes/buy exams/buy everything. Now, before that...

To get the CFA you first need to do a Masters Course in Finance (UTS/Macquarie, whatever). At UTS you don't need to have 2 years working experience to do a Finance Master but at Macquarie you do. I think if you pay Macquarie you can skip the 2 years (I know university students do this illegally with the uni. It happens all the time it's no biggie. The uni just makes more money.)

After you have your Masters, you can go for your CFA. The CFA is made up of three levels. It is not a raw mark pass/fail program, it's all rank. In the Level I program, the pass rate is 48% in Australia (let's say 50%). The Level II Pass rate is 45%. The level III Pass rate is about 30%. This means that out of 100 people, about 9 to 11 people will get their CFA within the first 3 years (pass all three exams first go).

Good luck mate.

 

[followthe$$s]

thanks for the nice summary

i just want to question one part - "To get the CFA you first need to do a Masters Course in Finance"

i thought i remember reading the CFA requirements, and there was only specification of a bachelor's degree

as for paying macquarie, unless they're prepared to accept $50 and a big mac meal, i think that's out of the question

do you guys have any thoughts on which masters program is best? would i be better waiting and doing the macq one later, or the uTS now? or are there any other better uni masters programs?

 

[Supra]

thanks for the nice summary

i just want to question one part - "To get the CFA you first need to do a Masters Course in Finance"

i thought i remember reading the CFA requirements, and there was only specification of a bachelor's degree

as for paying macquarie, unless they're prepared to accept $50 and a big mac meal, i think that's out of the question

do you guys have any thoughts on which masters program is best? would i be better waiting and doing the macq one later, or the uTS now? or are there any other better uni masters programs?

hahaha we're all in the same boat!!!

 

[Trajan]

I was actually thinking of undertking the CFA program but it just seems so rigorous and brutal.

 

[sja]

thanks for the nice summary

i just want to question one part - "To get the CFA you first need to do a Masters Course in Finance"

i thought i remember reading the CFA requirements, and there was only specification of a bachelor's degree

as for paying macquarie, unless they're prepared to accept $50 and a big mac meal, i think that's out of the question

do you guys have any thoughts on which masters program is best? would i be better waiting and doing the macq one later, or the uTS now? or are there any other better uni masters programs?

Hey mate.

My friend is currently at UTS doing a bachelor of finance there. Basically UTS have three degrees (a special bond with the CFA) to incorporate 70% of the Masters (and eventually CFA) stuff in the normal degree. This means subjects were changed and made a bit different (but nothing out of this world so don't worry).

Basically your best option, if you want to go STRAIGHT into a Masters is to go and apply at UTS. Most international students I know pay under the table and so Macquarie makes lots of money off them (because they can't get a longer Visa in Australia).

So its up to you. Its a decision u need to make. Maybe you want to work for 5-10 years up to a salary of say $80,000-$100,000 a year. And then you want to go off work and do your Masters for a year.... and then go for your CFA while you work again (after you have a family etc.)

But like I said its up to u!

 

[followthe$$s]

well i've submitted an application into macq anyway, and i guess i'll wait to hear from them about the 2yr requirement. i did speak to someone there who basically said its more of a guideline - the work experience would help the person studying, but he didn't refute my suggestion that i apply anyway, so fingers crossed