CFA for career changers?

Question

Will taking the CFA exams and eventually earning the designation help me change careers?  I have a BA in Poli Sci work in government (unrelated to finance).  Will earning my CFA credentials help me land interviews with successful investment houses and top companies?  Or am I better of working on an MBA?I am really lost, could use all the help I can get.  Thanks ahead of time.

kithorner · Answer

Useful advice @mitch895‌ - I'm also in a similar situation, although I HAVE already decided to go for CFA as this is something I can do in parallel with my current situation. Currently in my family's business (agriculture) and already performing a financey role, but looking for something meatier. Any further advice for my situation much appreciated!!

mitch895 · Answer

Depends what you want to do.  The Charter is only really recognised and relevant to certain fields of work.  Many (and I would say most) occupations prefer someone who has a well-rounded but shallow understanding of many areas and can sell (well articulated, willing and able to pitch) than someone who is brilliant at numbers.  MBA is generally better recognised, partly because most people have never heard of "CFA".  If you are just after some letters after your name, then CFA might not be the best investment of your time.  So as a starting point I would suggest starting by working out what you want to do.  If you don't know exactly that's fine, but you need to have some idea as to the "type" (very broadly) of job that you want (i.e., behind the scenes analysis, pitching to clients, banking, relationship management etc etc…).  Read (and Youtube) interviews and biographies about those who have (and/or still do) what you want to do.  Make sure you focus your research on all the crappy stuff that comes with the job.  Reassess whether if will suit your personality and areas of interest (they have to fit in with you, not the other way around - otherwise you will either have a short or depressing career).   Then  get in touch with a recruitment company or two and take their banking & finance guys/girls out for coffee and interrogate them.  They are the ones who should know what employers want AND by getting on the front-foot it will show them that you're proactive (which, as an employer, I can tell you will help set you apart from the competition).  When you have an idea of what skills they look for in a potential hire, focus your study on those areas.  Put together a business plan: work out how long it will take you to study before you are ripe to take the leap across, then plan for it.  Study the employment market well in advance and time your transition so that you win.  Despite what some may think, employers don't find desperation particularly attractive when they are selecting staff.  Remember too that for the right staff many employers will be happy to wait 1, 2 or 3 months for the new hire to come on board (so if you're still working your other job you can make an orderly exit).Good luck...