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Should I Take CFA Exams And Is It Worth It? - Career (5) - Nairaland

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Re: Should I Take CFA Exams And Is It Worth It? by aziak2012: 4:27pm On Oct 16, 2021
mysticgal:


How much do you sell, put it out here

Madam ita free of charge. Contact to get it and more information on how to access other materials available.
Re: Should I Take CFA Exams And Is It Worth It? by Nobody: 4:27pm On Oct 16, 2021
Take CFA. MBA was my biggest regret to date. It was a waste of my time.

2 Likes

Re: Should I Take CFA Exams And Is It Worth It? by aziak2012: 4:32pm On Oct 16, 2021
Icumsa45:


Do you tutor?

No I don't but I could refer you to good CFA exam tutors. If you are in Abuja First quartile is on point.
Re: Should I Take CFA Exams And Is It Worth It? by ufotty2001: 4:34pm On Oct 16, 2021
mysticgal:


It gives me ease in migrating. How about that
you can try now!! That is long process to migrate.. am an ACA holder!! I wanted to write CFA.. I have to reconsider myself too..
Re: Should I Take CFA Exams And Is It Worth It? by KingRex1(m): 4:38pm On Oct 16, 2021
ikenna44:
If you want an accounting cert that's transferable... Do Acca!

If you already have Acca, don't waste your time and money on cfa. Switch to I.T immediately!

Insightful I must say
Re: Should I Take CFA Exams And Is It Worth It? by Nobody: 4:43pm On Oct 16, 2021
aziak2012:


No I don't but I could refer you to good CFA exam tutors. If you are in Abuja First quartile is on point.

I am in Lagos. Thanks champ
Re: Should I Take CFA Exams And Is It Worth It? by Yankee101: 4:54pm On Oct 16, 2021
A CFA is worth its weight in gold

But it gets progressively difficult to pass

Then getting a well paying job in nigeria na case

I'll advice to travel to the US for a masters

Decide if you want a CFA after you get here

1 Like

Re: Should I Take CFA Exams And Is It Worth It? by 2braithe: 5:00pm On Oct 16, 2021
ikenna44:
If you want an accounting cert that's transferable... Do Acca!

If you already have Acca, don't waste your time and money on cfa. Switch to I.T immediately!


Why switch to IT when you already have ACCA?

Aren't they entirely different career paths?
Re: Should I Take CFA Exams And Is It Worth It? by slimfit2(m): 5:17pm On Oct 16, 2021
mysticgal:


It’s really a jealous exam but I’m just willing to try.
Then go for it, and like Aziak2012 I will be writing lvl 3 this Nov. Wish us luck and also we can share 1 or 2 hints/insights as you try to work your ways around the 3 levels.
Re: Should I Take CFA Exams And Is It Worth It? by AK481(m): 5:18pm On Oct 16, 2021
ikenna44:
Cap!

You worked with the big four and you think a certification that focuses on only finance is better than others that give you a well rounded knowledge of Accounting! Nigga please!!!


In MBA why do people major more in finance than in accounting ?

2 Likes

Re: Should I Take CFA Exams And Is It Worth It? by Mojojojo69(m): 5:23pm On Oct 16, 2021
Good and do ANAN and get a government job

Shikena
Re: Should I Take CFA Exams And Is It Worth It? by Gfh1: 5:56pm On Oct 16, 2021
No

1 Like

Re: Should I Take CFA Exams And Is It Worth It? by VanuatuWycombe: 5:57pm On Oct 16, 2021
tasceige:


Trying to learn from your post, please what do you mean with "transferrable cert"

A certificate that you can use elsewhere and transfer (use or apply) its knowledge as well elsewhere. Eg if you write and pass Salesforce while you are in Nigeria, you can use its knowledge in other countries where Salesforce is being recognized.

Not having transferable skills, knowledge or certification or not working with renowned multinational companies while in Nigeria is one of the reasons most of our people find it difficult to land their dream jobs in Canada quickly.

1 Like

Re: Should I Take CFA Exams And Is It Worth It? by lexy2014: 5:58pm On Oct 16, 2021
Omoluabi16:
your own ehn! grin grin grin grin grin
No one makes it a criteria, I think globalization or the changing business environment makes the rules by default. he rat race never really ends. best to stay where no one is breathing down your neck with qualification palaver. After all people do ANAN too.


i dont remember mentioning anyone "breathing down my neck". am not sure globalisation and changing business environment can screen CVs or create modules for professional courses
Re: Should I Take CFA Exams And Is It Worth It? by phadriz(m): 6:11pm On Oct 16, 2021
ikenna44:
Don't waste your time and money. Go for an I.T cert instead.

Best advice so far, it is better you do IT related course, all these Finance professional courses are overrated, before you insult me I'm a Chartered Accountant (ICAN) and also a member of CIMA (UK) now considering Msc Financial Technology.

Ask yourself what is the future of capital markets in Nigeria?

3 Likes

Re: Should I Take CFA Exams And Is It Worth It? by tasceige(m): 6:39pm On Oct 16, 2021
VanuatuWycombe:


A certificate that you can use elsewhere and transfer (use or apply) its knowledge as well elsewhere. Eg if you write and pass Salesforce while you are in Nigeria, you can use its knowledge in other countries where Salesforce is being recognized.

Not having transferable skills, knowledge or certification or not working with renowned multinational companies while in Nigeria is one of the reasons most of our people find it difficult to land their dream jobs in Canada quickly.

Thanks baba.. what do you have to say about some paid courses on Coursera... say the data analytics IBM courses ?
Re: Should I Take CFA Exams And Is It Worth It? by ikenna44: 6:49pm On Oct 16, 2021
Accounting as we know it through Acca and co is a dying career... In the near future the entire accounting process will be fully automated

2braithe:


Why switch to IT when you already have ACCA?

Aren't they entirely different career paths?
Re: Should I Take CFA Exams And Is It Worth It? by Yoighaman(m): 6:50pm On Oct 16, 2021
mysticgal:
Good morning or Good day,
The long and short of the story is, I want to take the CFA professional exams and I want to know if it is still relevant in the industry, Nigeria particularly and this is me considering the exchange rate currently, how profitable it would be for me in a long run professionally and if i were to leave Nigeria, is it recognized in the USA, Canada and all.

My fears and questions are:
1) I don’t want to spend money on a certificate that would not earn me more money.
2) I also don’t want a certificate that is not transferable
3) Would it be better to do an MBA than take this CFA course?


I would really appreciate if I could get answers


And please , could I get past questions and study papers and if possible link up with someone who has done the CFA exams so I ask some more questions.


Thank you.

CFA is one of the best certifications anyone in the world of accounting and finance can get.

Like someone mentioned, if you've got the funds, brain and time, please go for it.

I however suggest you get the 'low hanging fruit' first; that's the MBA (from a reputable institution, preferably outside Nigeria)

Acquiring the CFA can be very very rigorous, plus your resilience must be very high, otherwise, it might break you down mentally and emotionally.

Nothing is impossible to achieve.

All the best.

2 Likes

Re: Should I Take CFA Exams And Is It Worth It? by 2braithe: 6:58pm On Oct 16, 2021
ikenna44:
Accounting as we know it through Acca and co is a dying career... In the near future the entire accounting process will be fully automated


You are correct.
But before there will be no more opportunities for human capital in finance,it will take a Very long time in which might not be in this our generation.
Well well well.
I am giving away a 1k foreign followers IG account at a cheap price.DM me if needed!
Re: Should I Take CFA Exams And Is It Worth It? by Gbabe2: 7:16pm On Oct 16, 2021
eazzzy1:


https://www.cpacanada.ca/en/become-a-cpa/international-credential-recognition/international-recognition-agreements/international-members-seeking-canadian-cpa

This is a list of recognized accounting body by CPA Canada. Neither ICAN nor ACCA are recognized. People with these certificates may be exempted from taking the prep courses but still have to take the CPA Pep exams to become a licensed in Canada.

This is BS. ACCA is acceptable and recognized in Canada. The UK and Canada Accountants are trained and groomed based on IFRS while USA financial standard is GAAP.

Like it’s been said over and over, ACCA is more of accounting and financial reporting while CFA has more to do with Finance/ investment.

Anytime, CFA is a worthwhile certification if you can afford it and withstand the requirements in terms of reading and cost.

I hope this helps.

3 Likes

Re: Should I Take CFA Exams And Is It Worth It? by Gbabe2: 7:21pm On Oct 16, 2021
nitrogen:


They stopped it last year or so, an ACCA will write exams to become a CPA in Canada.

Wow
Re: Should I Take CFA Exams And Is It Worth It? by lexy2014: 7:46pm On Oct 16, 2021
Hideki:
CFA is already obsolete.... CAIA is the future

U see now
Re: Should I Take CFA Exams And Is It Worth It? by DonroxyII: 7:49pm On Oct 16, 2021
mysticgal:
Good morning or Good day,
The long and short of the story is, I want to take the CFA professional exams and I want to know if it is still relevant in the industry, Nigeria particularly and this is me considering the exchange rate currently, how profitable it would be for me in a long run professionally and if i were to leave Nigeria, is it recognized in the USA, Canada and all.

My fears and questions are:
1) I don’t want to spend money on a certificate that would not earn me more money.
2) I also don’t want a certificate that is not transferable
3) Would it be better to do an MBA than take this CFA course?


I would really appreciate if I could get answers


And please , could I get past questions and study papers and if possible link up with someone who has done the CFA exams so I ask some more questions.


Thank you.
You already started on a wrong foot. If what you looking for is money, knowledge will become very expensive to you and as such you might be disappointed after your CFA if you combine the time, effort and money. You may want to cry!

If what you are looking for is Knowledge, CFA will equip you with all the necessary knowledge you needed to survive in the finance industry and stand the test of time. You efforts will definitely be rewarded in multiple folds but beyond Money, the seat is hot and very hot. The money is just small aspect of the exam, You must have the energies, emotion and the brain for the challenges.

CFA doesn't have cut off marks, The Institute determines the cut off after exam grin

I also aspire to write CFA and unless any other exam has global recognition as CFA, CFA is my answer.

The Knowledge is definitely worth it and you will speak Finance and Finance will speak through You !
Re: Should I Take CFA Exams And Is It Worth It? by DonroxyII: 7:51pm On Oct 16, 2021
eazzzy1:
I just passed CFA level II grin grin. CFA is valuable and recognized in Canada. MBA is better for getting a job, CFA is cheaper, CFA is more difficult.

CFA is good if you already have a job in the industry, If you are looking at getting in, do MBA, most firms recruit directly from MBA programs. If you choose to go the MBA route, get it from a reputable institution MBA is different from MBA.

The knowledge you gain from CFA is priceless, I started CFA purely for the knowledge. After passing level 2, I may just start looking to get a job in Finance.
God will bless you and Bless me too !
Re: Should I Take CFA Exams And Is It Worth It? by VanuatuWycombe: 9:48pm On Oct 16, 2021
tasceige:


Thanks baba.. what do you have to say about some paid courses on Coursera... say the data analytics IBM courses ?

You are welcome bro. You may only be able to demonstrate the skills you gain from your Coursera courses, when you are on the job or when you are tested. But at a glance, a foreign employer may not use that to consider you for a role. You can decide to go for further recognized certifications in your field of study or area of specialization. This recognized certifications would make you spot able. Example is if you do an Oracle Database administration on Coursera, you may be good at it but it doesn’t make you a certified Oracle Dbase Administrator. You will have to go and sit for the exam and pass. That’s when employers can see or recognize you as a licensed Dbase Administrator.

Hope it’s clear sir.

2 Likes 1 Share

Re: Should I Take CFA Exams And Is It Worth It? by tasceige(m): 10:14pm On Oct 16, 2021
VanuatuWycombe:


You are welcome bro. You may only be able to demonstrate the skills you gain from your Coursera courses, when you are on the job or when you are tested. But at a glance, a foreign employer may not use that to consider you for a role. You can decide to go for further recognized certifications in your field of study or area of specialization. This recognized certifications would make you spot able. Example is if you do an Oracle Database administration on Coursera, you may be good at it but it doesn’t make you a certified Oracle Dbase Administrator. You will have to go and sit for the exam and pass. That’s when employers can see or recognize you as a licensed Dbase Administrator.

Hope it’s clear sir.

Crystal clear..
Thanks alot

1 Like

Re: Should I Take CFA Exams And Is It Worth It? by TSBO: 11:36pm On Oct 16, 2021
@mysticgal Listen to nitrogen and also do further research. There's info all over the internet. Some opinions here are very off. ACCA vs CFA? While there are overlaps, they serve very different purposes. For accounting, ACCA for sure. Investments (buy/sell side) and corporate finance, CFA might be better and is definitely more prestigious.

However, you NEED to define what you want to use it for. I am not so convinced that you have done that already. Experience matters a lot in the finance industry, probably more than certifications. M&A (probably via the investment banking route) is a good blend of finance and law as nitrogen indicated, so that might a viable path and a helpful way to sell yourself to potential employers. You don't have to pursue M&A if you really desire something else, just pointing out that you already have a relevant skillset (law) and it may therefore be easier to transition thereto.

Note that the CFA can be quite rigorous and time-consuming (regardless of how bright you are).

My advice:

Decide on what role you want to transition into (finance is quite wide so it helps to narrow it down. And if eventually, after getting in, you don't like that area, you can always try to move into something else),

start reading up voraciously and training yourself on that area of finance,

if the CFA is still relevant, start prep for level 1,

again, read and educate yourself,

most importantly, APPLY for roles in that field (even without having passed all, or even any, level(s) of the CFA exams), and

if you are unable to land a senior role, be open to taking junior roles if you really want to pursue that career. You can even consider internships if you are okay with that.

1 Like

Re: Should I Take CFA Exams And Is It Worth It? by yorke1: 6:56am On Oct 17, 2021
mysticgal:

I heard so but I hear that should I go to places like Canada, I’d still take another one or something
I have done my research on CFA . its worth having. As an ACA holder, I want to go for CFA bit I don't have the resources (time & money) for now. The instability of the exchange rate is not helping matters. If you have the resources, then go for it. It is highly recognised internationally.

1 Like

Re: Should I Take CFA Exams And Is It Worth It? by DenreleDave(m): 11:33am On Oct 17, 2021
eazzzy1:


At this point I think the man is just bored and want to argue, he doesn’t even know the difference between accounting and finance or what an accountant does vs what someone in finance does. I will educate him but he doesn’t look like someone willing to learn.

In all humility, pls Kindly educate mi btw those functions.....

I am a recent graduate of banking and Finance but looking forward to any of both....

I want an explanation from u, I don't want google own. Thanks
Re: Should I Take CFA Exams And Is It Worth It? by DenreleDave(m): 11:35am On Oct 17, 2021
ThierryJay:


I don't even think he's ever worked in finance sector before else he'd know that he's seriously casting himself in public.

The dimwit doesnt even know that accounting is a subset of finance. Saying accounting is broader than finance grin

Accounting is a subset of finance??
Are u sure about that sir?
Re: Should I Take CFA Exams And Is It Worth It? by DenreleDave(m): 11:37am On Oct 17, 2021
mysticgal:

I’m in a management company and already have over 4000 work hours . The only fear I have is I’m moving from legal to finance which has always been a dream so I’m scared but not scared, as far as the certificate would give me my money’s worth back…I don’t mind .

Legal to finance... I am not trying to discourage you...

But pls go for MBA... Don't try cfa..

U can still go for ican but pls avoid cfa...

So u wunt be frustrated and waste a lot of money
Re: Should I Take CFA Exams And Is It Worth It? by ThierryJay: 12:11pm On Oct 17, 2021
DenreleDave:


Accounting is a subset of finance??
Are u sure about that sir?

Yes in a way, they are inter-related but finance is broader. Accounting is basically how to organize and manage financial information which will all end up in the financial statements while Finance is about how to manage money and monetary equivalents mostly for future purposes/investment. Finance entails understanding economics and some accounting as well to make sense of historical financial information for future planning purposes.

In simple terms, accounting knowledge comes in handy when making sound finance decisions. In most companies, accountants are designated under the finance function/department.

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