CFA vs PRMIA/FRM

[pocari72]

Hi,

I am trying to find out which exam makes most sense to go for. I joined the finance industry 2 years ago, coming with an IT background. Thanks to my job I already have a solid knowledge of financial products and involved instruments and a good general understanding of the industry. Berfore going for a quant grad degre (BARUCH is one of my favourites I would like to build up a more solid foundation with an official exam.

Obviously the CFA (in particlar the first LEVEL) gives a very broad overview into various topics, since I want to pursue a more quant oriented career I was wondering whether it makes sense to go for the CFA or the FRM/PRMIA? It seems to me that the whole CFA targets contents from asset management/portfolio management, which is definitely not what I want.
In addition the PRMIA/FRM seems to focus more on analytical topics and I do not want to waste to much of my time with i.e. financial statement analysis. Therefore I would not do the advanced CFA Levels and this is also kind of unsatifying, to go for 'just' one level and not finishing the whole exam. I was also wondering about the recognition among the industry, is there any prevailing 'argument' for or against one of the exams?

Please let me know about your experience/impressions/suggestions and what would you recommend?

Thanks!

 

[John]

Hi,

I am trying to find out which exam makes most sense to go for. I joined the finance industry 2 years ago, coming with an IT background. Thanks to my job I already have a solid knowledge of financial products and involved instruments and a good general understanding of the industry. Berfore going for a quant grad degre (BARUCH is one of my favourites I would like to build up a more solid foundation with an official exam.

Obviously the CFA (in particlar the first LEVEL) gives a very broad overview into various topics, since I want to pursue a more quant oriented career I was wondering whether it makes sense to go for the CFA or the FRM/PRMIA? It seems to me that the whole CFA targets contents from asset management/portfolio management, which is definitely not what I want.
In addition the PRMIA/FRM seems to focus more on analytical topics and I do not want to waste to much of my time with i.e. financial statement analysis. Therefore I would not do the advanced CFA Levels and this is also kind of unsatifying, to go for 'just' one level and not finishing the whole exam. I was also wondering about the recognition among the industry, is there any prevailing 'argument' for or against one of the exams?

Please let me know about your experience/impressions/suggestions and what would you recommend?

Thanks!

I think that studying for the CFA exams will complement nicely a MFE education, in the sense that there will be little overlap. CFA covers mostly areas of corporate finance, accounting, and fundamental asset valuation, while MFE treat you to an in-depth study of quantitative modeling and pricing tools in finance. Moreover, Baruch's MFE is putting strong emphasis on the study of market and credit risk practices and modeling. Having said this, it does not hurt to try your hands on either PRM or FRM.

One more thing, having gone through a couple of CFA exams myself, I consider the materials excellent preparations materials for future job interviews in WS. Lot's of people working in WS don't neccesarily have a quant background, so expect a good # of corporate finance questions.

 

[Uncle Max]

having gone through a couple of CFA exams myself

John, as far as I know CFA exam has to be sponsored by employer if someone want to take it. Is it true? I would like to take CFA exams too, but if I don't work now, how can I take it?

 

[John]

John, as far as I know CFA exam has to be sponsored by employer if someone want to take it. Is it true? I would like to take CFA exams too, but if I don't work now, how can I take it?

Max,
it is not neccesary to have employer sponsorship to take the exams, just fork over the registration and exam fee and CFA institute will glad let you take the exams