Is the CFA worth it? (THE HONEST TRUTH)
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- Опубликовано: 27 июл 2024
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Sacrificed socials, exam stress, sleepless nights - that's what it takes. But is the CFA worth it? Watch to find out.
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⏱️ Chapters ⏱️
00:00 - Intro
00:26 - The Good
03:50 - The Bad
06:57 - The Truth
❕Disclaimer❕
The information provided in this video is for educational and informational purposes only. I am not a licensed advisor, and the content presented should not be construed as professional advice.
Viewers should conduct their own research and/or consult with a qualified professional before making any decisions. The content of this video is based on my personal opinions and should not be considered as a recommendation.
I do not assume any responsibility or liability for any errors or omissions in the content of this video, nor for any actions taken by viewers based on the information provided.
By watching this video, viewers agree to release and hold harmless Haaris Zamir, CFA from any and all liability related to any decisions or actions taken based on the information presented in this video. This disclaimer is subject to change without notice.
Great video, concise with no fluff. This is what i needed.
Thanks for sharing this valuable content!
Great content. Torn bet taking master's or cfa. These tips helped me think of what I should consider 👍
Amazing content as always
excellent overview, thank you
Amazing content, very helpful
Very informative vid👍
Amazing ! Good content !
Hi Haaris,
Thanks for your content.
Do you recommend or use MM, Kaplan or something else to complement the CFA material ?
I’m enrolling to CFA level I
Hey, I used IFT World at Level 1 and MM from Level 2 onwards, which I really enjoyed. He's excellent, however his notes aren't great, so I used IFT world's notes at level 2/3 - check out my first video for a full run through. If I could go back, I'd use MM at L1 too.
Kaplan wise - I used their books a little at level 1, which were fine but I don't know much about their lectures.
Good luck
i'm struggling on L3. i'm 31 and this is my second attempt and it's just so energy-draining given my age and seniority.
i don't even know what they ask for in the essay questions.
but i need to ensure passing this time. cz next year L3 is completely revamped and i really don't want to go through that. pray for me
Hey check out my channel, I did a level 3 explainer video - hopefully that helps! Good luck, wishing you the best
Sorry but being 31 has absolutely nothing to do with anything. It’ll be your study strategy.
@@andrewleong8643 i'm going ham on this. berserk mode. no mercy.
i'm done with everything just have ethics left. i'll start doing mocks this month (1st round)
Hi Haaris, thank you for the great content! I really want to pivot into finance so I resigned from my job to complete my honours degree in economics next year as well as write the CFA L1 exam in august 2024. I’m really anxious about not only my decision to leave work but whether I have what it takes to pass the exam. Do you have any advise on building confidence to take the exam?
Thank you
Hey, glad it’s useful and respect to you for making the decisions you have. I don’t know about your study style, but generally speaking if you put the time in for level 1, it’s actually quite easy. I have a video coming next week which will highlight how to do well in it. Generally, I’d push to get your studies done as quickly as possible, as finance is all about experience. Get your foot in the door using your degree / CFA level 1, then double down on getting better at your job. That’ll take you further than the CFA, but obviously CFA helps develop your financial knowledge. Good luck
@@HaarisZamir thank you so much for taking the time to reply. I’m only starting with studying from the 1st of December. I’m using a 3rd party prep provider; Kaplan Schweser (material and videos). In your opinion do I still need the CFA books? Or is the kaplan material sufficient? Sorry for the million questions, only found out about the CFA program last year and have no experience.
Looking forward to the next video you’ll be uploading soon.
@@tsheedyttee4348 Nope no need for CFA books - Kaplan is fine, did you get their lecture material too? You can do it with books alone, but harder to focus on most testable material. I'd recommend Mark Meldrum and IFT - check out my first video :)
@@HaarisZamir yes, there are videos on every topic of the modules, there's a Qbank, quizzes, mock exams (4 mock exams), and a whole lot of material I still need to familiarise myself with. I did see on one of your videos, you talked about IFT notes and Mark Meldrum's material so I will definitely look into that as well. Thank you for all the help. Really hope to ace the exam when the time comes.
You've been a great help!
@@tsheedyttee4348 Good luck!
Well comparing cost to a masters. Its extremely cheap
3 sections, 6 books for each
Im about to sit for my L3 next month. Total cost (all CFAI and prep provider fees) came out to 3500 USD
I used MM and got the scholarship thing @ L1
Wow, expensive! Good luck with your charter!
$3500 for all 3 levels
ur only doing MM videos and his mocks? cz i did kaplan last year and failed. and i'm completely trying something new this time with MM (never tried him before) but i don't know if the videos + CFAI questions + 12 mocks (CFAI, 5 MM, and 5 BC) are enough. i really don't want to read. i just wanna learn from MM's videos and his notes that i already printed. are u doing the same? and do u think it's enuff?
Hey I am preparing for CFA level1 …. I also want to do MBA should I prepare for GMAT along with CFA or go for a Job … please suggest me something
I don’t think you should do them together - it’ll be very tough. GMAT is shorter and more intense - do CFA first then GMAT I’d say. Plus MBA is better later in career (more a networking thing). My next video will be for CFA L1
@@HaarisZamir Thanks alot 😊
Amazing content brother!! whats your opinion on someone from Healthcare background trying to swith to economic field. Does CFA provide that gateway? or should I try some other degree?.....Before anybody asks, im just done with the workload in healthcare for less pay.
CFA deffo a better option than another degree and yes can be a solid gateway - give you solid finance foundations + a strong signal in market
@@HaarisZamir Thank you very much for replying!!
Hi wanted to ask which is a better course for investment banking cfa or MBA(finance).Having difficulty in understanding what to pursue please help
Hey - it really depends on what you currently do, what experience you have, who you know etc. MBA is probably better later in career but expensive, CFA can help you get in via middle or back office. I have a video coming on this soon
Thanks for helping ❤️❤️
I have a degree in international business administration and I’m thinking about doing the CFA or a masters in finance, what would you recommend ?
Hi, I am doing CFA Level 1 very close to 200 Hours mark self study, but I don’t have any experience or relevant degree. Should I be putting more effort or it won’t help me to score a good job?
The CFA is helpful, and can help you get certain jobs in finance from which you can build experience and move into better roles. It's difficult to give you a single answer. Work hard, try to build relationships, upskill through CFA and hopefully you'll crack it
Please 🙏 you can make a video about studying for it if your age is over 45 worth it ?! I am corporate banking in Remedial & Restructuring.
Sure thing, I'll look to fold it in :)
If L3 is practically worthless for most people and you don't at least double your salary with the CFA, I don't get the reason to pay so much money and waste valuable time of your life that you'll never get back. I think you could study the materials that are important and worth your time to become an expert without actually doing the CFA. People who have good daily reading habits are usually the smartest people in the room, with no need for a three letter credential, and they excel in work and life in almost anything because people can hear how smart and knowledgeable they are in many topics. Reading 1 hour a day for the rest of your life will always keep you ahead of the competition.
Totally fair perspective
Why don't you see if CHATGPT can pass the exams and do your job?
Sure you could test it out
It comes out from Bloomberg. So far chatgpt can’t pass CFA.
Hi Haaris, I am currently working in commercial baking, which certification do you recommend me? i was thinking of CFA or FRM...
Hey - I don't know much about the FRM, but the CFA is arguably the most comprehensive finance qualification there is. Depends what your long term goal is. Tbh, CFA isn't needed for banking. But if you'd like to move to a fund in the future (equity or debt), it's useful. CFA Level 1 is super helpful for establishing a solid understanding of finance. Level 2/3 go deep, too deep if you don't want a career in asset mgmt. Also, big time commitment (likely more than you expect). Up to you, good luck!
@@HaarisZamir thank you so much for your great response! One more question… if I am not thinking about moving to asset management do you think cfa level 1 is still valuable for recruiters? Or could it be seen as someone who gave up on the certification?
@@adrielrobertomirandaribera2097 Hmm, good Q. I reckon it's still useful. It's more about the knowledge you'll gain vs the signal you send. Knowledge is helpful in interviews etc, especially Level 1 material
Can I study CFA with zero finance skills.?
yes it'll teach you
Hi,
I will be pursuing my MBA in the next two years. I am interested in finance and I do hope to get my MBA with finance electives. Should I consider doing CFA alongside at least my level 1 and level 2 while getting my degree? Will it be manageable and advisable? I plan on going on for financial risk analysis and not asset management.
This is complicated - I don't think there's a single answer for this. The CFA is a huge commitment, so I'd say pick either that or MBA. Maybe in preparation for MBA you could do Level 1. Bear in mind you can't get the CFA charter until you have 3y experience, so you'd have to wait a while to complete it. Up to you, but good luck!
I failed level II four times using Kaplan. 2,500 hours of studying.
See my other response
is it Riba?
Not sure what you mean sorry
Is the CFA at risk if we can use AI for instance to do analysis 🤔 Another point worth noting is that jobs in banking or related are very limited so can't be useful in a job not related easily, including Accounting.
I’d say the CFA itself isn’t at risk from AI, but financial analysis in general is to some extent. Then again, I suspect it’ll be more of a tool than a replacement, but who knows. If you’re going to do CFA, do it for the knowledge. Hard to replicate that when you consider the contextual overlay a human can provide too. Agreed re limited jobs but the CFA can be a tool to help land an interview, then it’s over to you.
@@HaarisZamir"do it for the knowledge"...well said.
I currently work in asset wealth mngt and planning to take cfa. I believe AI's logic would make processes more efficient. But perhaps up to some extent. There are a lot of unusual cases happening in the finance market (e.g. trades) that can't be solved by technology. Hence, resolutions are highly sourced and analyzed from an employee's expertise and experience.
haaris some points i dont agree with you. i m myself cfa level 3 candiate.
That’s okay, each to their own!
can you please share what you don't agree with? From the way you type I doubt you have an education. Please share your full accreditation for me to take you seriously because it looks like you don't know anything if you cannot even spell properly
what are u studying from and which mocks are u planning to do?
Not worth it in my opinion.
Fair!