CFA and Software Testing

Question

I am currently working as a Test Lead in the Banking and Financial Services domain. I have always flirted with the idea of completing the CFA but been wary of what it would mean to go all the way. Wary because I am pretty happy doing my current job as it involves software systems as well as requires me to gain Financial knowledge of the system I have to test. But now I am seriously thinking to target CFA Level 1 in Dec'2014 - firstly because I love the BFS domain and secondly because I think it may add value to my career as a Functional Tester. I also think that getting a CFA would allow me to work in a Business Analyst cum Functional Tester role.

Is my understanding correct? Do you think CFA would help me in Functional testing or IT Business Analysis?

Secondly, I would like to know if working in Core Finance such as Equity Research or Portfolio Management is an option for me (after competing CFA) considering that all my 10 years of experience is in IT?

abhicfa · Answer

@Sophie Thanks very much for the response. This helps.

@Zee would appreciate your views as well on this. Your profile said you are in the technology space?

Sophie Macon · Answer

Hi @abhicfa - thanks for sharing this with us, your role sounds interesting and it's great that you're keen to further your financial knowledge, it shows some commitment there!

I think if you're working in financial services, even if it's in the Software area, it does help knowing some financial concepts - after all it helps you sense check if the software is working correctly! I personally think it would differentiate and set you apart from other candidates, as you demonstrated interest to upgrade yourself even though it wasn't a requirement for the role. It all depends how you sell this in interviews, there's no hard and fast rule there. But if there are 2 candidates who are of equal ability, one with a CFA Level 1 pass, that may give you an edge there.

On your second question, it would be hard (but not impossible), not because you don't have the ability, but rather the market's inflexibility in accepting people of vastly different backgrounds even though you've demonstrated you have the capability of starting and learning in the new role. Secondly, there is sufficient competition (e.g. new grads) even if you're willing to start from scratch in that equity research or PM, which doesn't help your case. That said, if you are serious about getting these roles you have to start to build the CV that will get you such jobs, completing the CFA charter isn't sufficient, but starting to show that you did some related/similar work in that field etc would help, and of course explaining your case why you'd be better than other candidates, why you're switching to this after 10 years etc. You've to do much more to convince the interviewers of your case basically. I also wrote an article about career switching, which I hope can help.