CMT + CFA = Job ?

Quote from CN2000:


CMT II - April 2006
CMT III - October 2006
CFA I - December 2006
CFA II - December 2007
CFA III - December 2008

Then, with CFA + CMT + 4 years trading/investing my money, I will apply for a job as ?????? in the finance/investment industry. Currently I am a hotel assistant general manager and I have been working in this industry all my life. I study Economy and Statistics by myself and I hold a bachelor degree in Hotel Management.
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Hi,

Your situation is pretty unique. I have not heard of a lot of people doing the CFA without being in finance to begin with. I suggest you contact some investment professionals in your area - analysts or pms and ask them how they think you could best get a job in the investment industry.

Please note that you must have several years of experience in the investment industry before you will be awarded your CFA charter, even if you pass all three levels.

I hope you aren't expecting to study for CFA lvl1 between October and Decemeber, because you will not pass. There is a lot of material, and you don't have a BCOM to start with. I don't know how much you have studied ECON/STAT already, but it will probably be very difficult for you. I suggest you give yourself at least (=minimum!) 200 hours to study the material.

I think the lvl2 and lvl3 exams are only in June.

From what I understand, the CFA counts for much more than the CMT.

Best of luck,
Morgan
 
Quote from CN2000:

Thank you!

I started trading and investing in December 2004. My plan is as follows:

CMT II - April 2006
CMT III - October 2006
CFA I - December 2006
CFA II - December 2007
CFA III - December 2008

Then, with CFA + CMT + 4 years trading/investing my money, I will apply for a job as ?????? in the finance/investment industry. Currently I am a hotel assistant general manager and I have been working in this industry all my life. I study Economy and Statistics by myself and I hold a bachelor degree in Hotel Management.

I will be 35 by 2008 :D Does this sound bold for you guys? Or shall I go for it? I want to make a career change but even if it doesn't happen I think that CFA + CMT will give me a much better understanding of the market mechanics.

Share your thoughts please!
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Why would you bother getting all these certifications if you don't even know what you want to do? I think you should stick with your current bellboy job or maybe become a CMT or CFA instructor. The fact that you have taught yourself "economy and statistics" is probably worse than you not having known it at all, you have preconceived notions that are likely to be wrong. Why not just take $10,000 and head to bright trading which is appropriately located in Las Vegas. Nothing about your plan sounds bold, you are taking classes and have a three year plan to take more classes.

Sorry if you think I am being harsh, but you need to figure out a couple things.
1) What job you want
2) What steps you need to take to get there.

Basically become much more clear on your goals.

5yr
 
You should figure out who/what you want to be, and be very clear on it, then you should do it now, not take classes to delay the time when you actually have to do something.

5yr

PS Assistant to the general manager is much different than assistant general manager.
 
Quote from MorganSys:

I hope you aren't expecting to study for CFA lvl1 between October and December...
...you have studied ECON/STAT already, but it will probably be very difficult for you. I suggest you give yourself at least (=minimum!) 200 hours to study the material.
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No, between January and December. Over 200 hours. Thanks.

Quote from 5yrtrader:

...I think you should stick with your current bellboy job...

...you need to figure out a couple things:
1) What job you want
2) What steps you need to take to get there

...Assistant to the general manager is much different than assistant general manager
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Dear 5yrtrader,

Touche! I want to be an Investment Analyst for a few years and then become a Relationship Manager or a Financial Planner.

It's Assistant General Manager. Bellboy job :mad: There's more into it. It's a simple business, I agree, but can become very complex in emerging markets. I work in China and it's no easy task.

Thanks for being straightforward.
 
Quote from Copernicus:

the CFA might land you an interview, if you cant back it up you will be out of there in 10 min.

it is a standard for portfolio managers and analyst, period. not for trading.

as for top notch MBA it takes priority over the CFA,CAIA,CMT,and all others combined.
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Certifications are generally for people with significant experience who want to differentiate themselves eithr for the purpose of moving up in a job with a company, or to use in marketing their services to companies and individuals.

The certifications by themselves without significant experience have very little value.

.. without significant focused experience an MBA from a good school is more useful than a certification. Even an MBA will be of little use without actual on-the-job experience to back it up.
 
Quote from CN2000:

Thank you!

I started trading and investing in December 2004. My plan is as follows:

CMT II - April 2006
CMT III - October 2006
CFA I - December 2006
CFA II - December 2007
CFA III - December 2008

Then, with CFA + CMT + 4 years trading/investing my money, I will apply for a job as ?????? in the finance/investment industry. Currently I am a hotel assistant general manager and I have been working in this industry all my life. I study Economy and Statistics by myself and I hold a bachelor degree in Hotel Management.

I will be 35 by 2008 :D Does this sound bold for you guys? Or shall I go for it? I want to make a career change but even if it doesn't happen I think that CFA + CMT will give me a much better understanding of the market mechanics.

Share your thoughts please!
More...

I finally realize people on ET don't really know what they are saying.
Please do some research on the CFA before stepping into "doing it"
First I think you should check if you are qualifed to write the exam or not, second, check the exam dates, level II and III are not offered in Dec., but only June once in a year.
You will have a very hard time studying for the financial material if you do not have the accounting and finance background, economics is more of a minor issue.
Most importantly, before you write the exam, you should ask yourself the question why you want to be get the charter.
 
Kwancy - you just realized it now? hahahaha.....

Pls let these guys write the exam - it makes it easier for people like us to pass then as they tend to skew the pass mark significantly. Why do you think pass rates have been falling for the past few yrs!
 
Quote from CN2000:

"... I think that CFA + CMT will give me a much better understanding of the market mechanics.

Share your thoughts please!
More...

The *only* mechanics which matter today for trading are the "manipulation and gamesmanship of the markets by big money". I doubt there is any formal course in financial anything which will provide insight.... In fact, academic financial institutions won't even acknowledge its presence. It IS against SEC regulations, you know.

JMO, of course, but I see the CFA as virtually worthless. And for most people, ditto on the CMT. The one exception might be as technician finding some measure of the markets which is highly correlative to market behavior which is virtually unknown.... and that's not likely.

Perhaps you could survey people in a position to hire to see just how valuable CFA and CMT would be?
 
"of course, but I see the CFA as virtually worthless"

This is the biggest crackhole advise I have heard on ET. CFA is the toughest of the certifications in Finance and Accounting industry...much hard than CPA, CA etc. etc.

Anyone having CFA would have an equal standing vis-a-vis Ivy Leagues and there are many small firms who would take you just to have your name on the team with CFA showing high and bright.

Once in, then it will be performance of portfolio returns and equity recommendations that matters the most. If you do not deliver then better go into teaching/phd to stick in the industry.

It's CMT that is pretty worthless in terms of 'order winner' traits. It is a basic coursework type program. To become a trader with banks etc. having CMT is not good enough, not by far.
 
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