Hunting for answers to a question posed by readers' heated responses to a previous eFC story, we walked into a bullfight.
Assessing the Value of the CFA Charter
Readers' comments about a prior story comparing and contrasting the CFA designation and an MBA inspired us to further research, which led to this follow-up on July 10. Response to the latest story is pouring in even faster, and the debate so far is even hotter.
Many readers disputed the article's conclusion that the CFA charter retains its value. Two common criticisms: a lack of prerequisites to register for Level I, and the fact that CFA candidates compete against Indians and Chinese in the program (as if other financial professionals don't!).
Contrasting the CFA with master's degree programs in business or finance, Anastopolous, who works in hedge funds wrote, "The CFA has no pre-selection criteria, a plumber, taxi car driver, etc., can study and pass. For formal programs there is a selection process before it starts."
Efram who works in investment banking wrote of CFA candidates, "You will be competing with 100,000 analysts in Bangalore and Shenzen for $3/hour jobs."
On the other side of the issue, CFA_ivy_grad, who also works in hedge funds, said , "I have found the CFA program to be very useful. Ivy grads who claim they learned enough in college are kidding themselves....What bothers me is kids who think they are 'too good' for programs like CFA that are ruining the reputation of my alma mater once they enter the workforce, not kids from random state schools ruining the reputation of my CFA designation."
If you'd like to add your views, you can do it here.
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