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Up0
Now that my CFA journey is pretty much over, I’ve been contemplating what to do next. Like most of you, whilst studying in the months up to the exam I often ask/tell myself two things: 1) Why on earth do I keep signing up to these things?; and 2) after this you will be a free man, you will never need to take another exam again!.
The problem is, I like achieving. I like doing well, and I like passing things and obtaining proof that I did it. Most of you will have seen this trait in my badge-hunting within this forum. If I’m playing a computer game, I’m the guy who wants to complete it 100%, even though I know that no one else probably cares. But to me it is an achievement.
So, now that I’ve finished the CFA exams, am I really going to stop there? Probably not.
At the moment I have two short-term goals in mind:
1) I am two modules away from completing a BSc degree in Banking Practice & Management with the ifs School of Finance. I started this journey when I started my first job, and for one reason or another kept going. For the sake of two modules, it would be nice to have two degrees to my name so I’ll probably schedule these for April next year.
2) I am also contemplating taking the IMC exam. For those who aren’t familiar with this, it’s a UK-based qualification administered by the CFA Society of the UK. It is effectively CFA Level 0.5, and consists of two modules. One covers the UK regulatory environment, and the other looks at investment tools (essentially it just takes a selection of stuff from CFA Level 1). Now, I’m sure you’re wondering why I would bother with this now that I have passed all three levels of the CFA program? Well, in the UK, in order for you to deal in the retail investment market you need to become what is known as ‘RDR Compliant’. This can be achieved in several ways, by passing various parts of different professional qualifications. One of these methods is to complete the regulatory module of the IMC and combine it with a CFA Level 3 pass. I have no desire to go into the retail investment market, however being RDR Compliant is another addition to my CV which may be helpful in the future. For the sake of one exam it seems worth it. As I have already passed the CFA exams, I would also be exempt from the second module of the IMC.
Is anyone else thinking of doing anything further?
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Up5
Sounds like good plans @Jwa, @aliza_khan 🙂
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Up3
hehe, it never stops there I suppose @MattyJ. Good that you’re thinking ahead, but make sure you’ve time to enjoy life a little and take a break before these start. Personally I think there’s a level of diminishing marginal return about 2 sets of acronyms behind your name, so choose them wisely. Having had CFA already, adding another 2 may be a little much and starts to look a little comical on LinkedIn?
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Up3
Guys, why not try something more “subjective” – in the sense of developing certain soft skills, such as switching for a new job (that you want), asking for a salary raise, new role, etc. New intellectual challenges doesn’t need to come in the form of more qualifications, and probably tends to dilute your precious CFA, and like @sankrutimehta I kinda agree with your comparisons with pHd, MBA etc (why take them when you have no use for them).
Investing time in developing other sort of skills rather than just academic ones will stand you in good stead for your career anyway. It’s just so easy to chase for endless qualifications to no end – and that’s just easy? I just question whether we’re avoiding the hard parts 🙂 Just my 2 cents…
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Up3
I would be going for a financial modelling course/workshop along with CFA. A plus point for the career both in terms of CV enhancement and learning.
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Up2
@aliza_khan: I myself learnt VBA financial modelling during the past 3 months from a book. Dont have good courses around for that 🙁
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Up1
You’re now on the thing I decided to do next. 😀
Re the IMC – you’ll absolutely blast it. Absolutely right in saying that it’s CFA 0.5, or now that we have it, equivalent to Claritas.
Collecting qualifications is always nice to have so these are two great options…
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Up1
@MattyJ I’ve just been enjoying doing hobby things since June, although no doubt retaking LIII will ruin my life again for a while. Definitely wouldn’t bother with an MSc though – helped me get my first job but don’t think it would add much now. Overall if I were to do anything more later on it would probably be an MBA, other than technicalities like the IMC, I can’t see anything else adding much.
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Up1
@sankrutimehta I think Kaplan Financial offers financial modelling course alongside CFA
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Up1
@aliza_khan: Is it available in India?
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Up0
@MattyJ: I have long been toying ith the thought “What after CFA”. Believe it or not, I also tried to googleto understand what options do people pursue. I can very much relate to you when you say
I actually did a 3 month course in Mandarin during the break between the exam and the result so that I dont need to contemplate the result n turn bald!! (Gals dont look good bald u know :p)
I am now thinking of pursuing PhD (which I heard is not a great idea with 2.5 years), MBA (Not very cost effective in INR) or MSc (Not a good idea after CFA).
In the meanwhile, I did start GMAT and VBA type learnings which would enhance my CV in either direction I decide to head!!
Hope this helps
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