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30-06-2013 11:21 AM
Sam Adams awesome, thanks for the advice.
30-06-2013 11:15 AM
Unregistered
Buyside

I'm in the investment team. What i mean is if someone is just average, it'll probably be a better bet to do a local MBA IF he has money and assuming he can't get into a world class MBA prog.. rather than struggling to pass and give up his social life for 4-6 years to pass the CFA.

Having said that, like many others have said before, nothing's for sure. Getting a local MBA or CFA doesn't guarantee career success or a front office position, BUT it does elevate one's chances. There are many different routes and it depends on individuals and a bit of luck.

Backoffice or support doesn't require CFA or MBA but it's always good to upgrade oneself. Again, it's up to the individual.

Cheers
29-06-2013 11:50 PM
Sam Adams
Quote:
Originally Posted by Unregistered View Post
Hi all, glad to share here. I'm a 2nd upper local uni grad, working in a fund right now. I haven't been able to pass CFA level 2 due to lack of sufficient preparation but have seen several private uni grads from poly who are charterholders. Here are my 2 opinions:

1. If someone asks me CFA or local uni MBA? I would say if you can afford it, do the MBA, even though it's not world class MBA. Reason is simple. The CFA has 3 levels and if you're smart and very hardworking and motivated despite your work schedule, it'll take you 3 years or so to pass all. I would say such person is 5-10% out of the entire population. The average person, assuming he clears 3 levels eventually, probably would take 4-5 years. On the other hand, if you do, say a SMU or NUS MBA full time or part time, it'll take you only 1-2 years to achieve it. And I have seen many such grads working in MA programs and private banking. The opportunity cost of time is shorter, and i'd think getting a job with the MBA is easier than a CFA level 1 or 2 pass.

2. The CFA is the gold standard for research and fund management and is very well regarded. However, as my colleagues who are charterholders say in a straight face "It's the basic". CFA gives you all the fundamental knowledge of finance but to excel at your job, it takes experience to be great at what you do. For eg. CFA doesn't teach you the difference and the relationship between CNY, CNH and CNY NDF and futures.
Are you working in fund support or the actual investment team? Does your recommendation apply for both groups?
29-06-2013 01:51 PM
Unregistered
Buyside

Hi all, glad to share here. I'm a 2nd upper local uni grad, working in a fund right now. I haven't been able to pass CFA level 2 due to lack of sufficient preparation but have seen several private uni grads from poly who are charterholders. Here are my 2 opinions:

1. If someone asks me CFA or local uni MBA? I would say if you can afford it, do the MBA, even though it's not world class MBA. Reason is simple. The CFA has 3 levels and if you're smart and very hardworking and motivated despite your work schedule, it'll take you 3 years or so to pass all. I would say such person is 5-10% out of the entire population. The average person, assuming he clears 3 levels eventually, probably would take 4-5 years. On the other hand, if you do, say a SMU or NUS MBA full time or part time, it'll take you only 1-2 years to achieve it. And I have seen many such grads working in MA programs and private banking. The opportunity cost of time is shorter, and i'd think getting a job with the MBA is easier than a CFA level 1 or 2 pass.

2. The CFA is the gold standard for research and fund management and is very well regarded. However, as my colleagues who are charterholders say in a straight face "It's the basic". CFA gives you all the fundamental knowledge of finance but to excel at your job, it takes experience to be great at what you do. For eg. CFA doesn't teach you the difference and the relationship between CNY, CNH and CNY NDF and futures.
25-06-2013 08:55 AM
Unregistered
MBA value

MBA is useful when come from top u.if not , waste the money
21-08-2010 01:22 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
I was formerly an accountant from NTU. I took the CFA when I was with a Big4. When I passed it, I applied for many investment related front office positions as I could. I am not sure if it was because of only the CFA that I got several offers but I think it certainly helps.

I think if you want to get into a front office position, between the CFA and MBA from a local university, I would go for the CFA anytime.

Passing the CFA is an internationally recognised program to train financial analysts, MBA is more generic. Unless you are going an MBA with a top-tier university like Insead, forget it.

My advice for people who want to switch, get a CFA and then join a local investment firm if cannot get into the foreign one. With 2-3 years experience, you will be easily poached by the BB firms.

If you are an accountant working for a big 4, CFA will be more useful than an MBA. I would also agree with you that a local MBA is also less useful than a CFA in this respect. However, If you are an engineer or in a non-finance related field, CFA does nothing for you. You are better off with a MBA from a top tier program to get in.
20-08-2010 12:56 PM
Unregistered I was formerly an accountant from NTU. I took the CFA when I was with a Big4. When I passed it, I applied for many investment related front office positions as I could. I am not sure if it was because of only the CFA that I got several offers but I think it certainly helps.

I think if you want to get into a front office position, between the CFA and MBA from a local university, I would go for the CFA anytime.

Passing the CFA is an internationally recognised program to train financial analysts, MBA is more generic. Unless you are going an MBA with a top-tier university like Insead, forget it.

My advice for people who want to switch, get a CFA and then join a local investment firm if cannot get into the foreign one. With 2-3 years experience, you will be easily poached by the BB firms.
20-08-2010 11:52 AM
DLJ
Quote:
Originally Posted by Unregistered View Post
join the technology division of a bank, any bank, now. work as an analyst, whatever analyst. and once you get your cfa, seek an internal transfer to a business division. by that time, maybe you will have hit high pay and won't want to move out of technology any more.

Most people who join the technology division (aka back office) will generally stay in technology. Transition to front office will be difficult. But if you're good enough, you may make it to VP at another bank or so.
18-08-2010 10:18 AM
Unregistered
Quote:
Originally Posted by rampa001 View Post
Thx for the replies guys.....But my intention of doing either one of the two is to make a career change to management /finance. I'm an engineering grad with about 3yrs work ex. since I'can't afford to get an MBA from a top notch school these are the only options I have....
join the technology division of a bank, any bank, now. work as an analyst, whatever analyst. and once you get your cfa, seek an internal transfer to a business division. by that time, maybe you will have hit high pay and won't want to move out of technology any more.
18-08-2010 07:44 AM
rampa001 Thx for the replies guys.....But my intention of doing either one of the two is to make a career change to management /finance. I'm an engineering grad with about 3yrs work ex. since I'can't afford to get an MBA from a top notch school these are the only options I have....
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