Do certifications really help getting admits from top institutes ?

[sidd]

Hi,

Do certifications like CFA L1, FRM, PRM really help getting an admit. Do they relly make a difference to the resume.

One more question. Would work experience from a software firm ( C++ ) programming be considered as relevant or irrelevant experience ?

Pls answer my queries.

Thanks,
Siddharth

 

[luso]

Those certifications certainly help you to get a finance job, but not necessary help you to get into any MFE programs.

The objectives of the certification exams and MFE education are different.
Put it that way, a MFE student can probably pass those exams.
But for those certification holders without proper engineering or science background, the MFE materials may be too much for them.

What are those MFE programs looking for is students with solid quant. related education or background, and coding skill.
If you have finance knowledge, it is good, if not, you will learn in those programs.
For sure, if u have a high score on GRE Math sub. test, it will weight more than you have a CFA L1.

 

[sidd]

Well I am an engineer by profession and intend to apply in 2009 as i do not have a financial background i thought of pursuing these certifications to give me a hang of things plus sth to put in my resume to show my interest in finance. As i mentioned in the previous post i have 2 years of work ex but in a software firm ( basically C++ programming ) and hence do not have a financial background.

Will these certifications really increase my chances for getting an admit from a top institute or no ?

Thanks,
Siddharth

 

[Sam Harris]

I thought you needed industry experience to get these certifications.

 

[Dmytro]

Hi,

Would work experience from a software firm ( C++ ) programming be considered as relevant or irrelevant experience ?

professional experience with C++ is a significant advantage in one's application, and a very relevant - and unavoidable! - skill required by Baruch MFE program.
best of luck!

 

[sidd]

thanks Dmytro.

well i just wanted to make one thing clear that although i have profesional workex of 2 yrs of C++ programing, it has nothing to do with finance.

bcz of which i was wanting to do these certfications, which i think could be add-on to my resume and also show my interest in finance. what do u say ?

thanks again,
siddharth

 

[Dmytro]

i would defer to others on this forum, but i would say that mastering the financial methods in C++ should be relatively easy, assuming your knowledge base of the language is fundamentally strong.

additionally, finance-specific C++ courses offered outside of MFE programs might be hard to find, so it might be hard for you to sign up for one (unless, you're already working on wall-street and learning it as part of your job).

again, certificates won't hurt you [i think same goes for any type of knowledge ;], but you have to look at it in a returns-on-investment type of way - weighing the benefits against the costs ($, time, efforts, etc).

 

[Yan He]

Certificates may look good on your resume if you have nothing else more attractive to show on your resume. Relevant experience and solid skillset are more essential than you simple list of Certificate.

Also if you are refresh, no experience students, Certificate may make you somewhat different from other peers.

 

[Sam Harris]

I thought you needed industry experience to get these certifications.

 

[Yan He]

I thought you needed industry experience to get these certifications.

Not really, especially CFA L1 and FRM. All you need are time and good memory.

 

[Sam Harris]

Not really, especially CFA L1 and FRM. All you need are time and good memory.

This site leads me to believe that for CFA Level 1, "Three years of qualifying work experience must be obtained."

This site lead me to believe that for FRM, one needs:

• A passing score on the FRM Examination.
• Active membership in the Global Association of Risk Professionals.
• A minimum of two years experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, academic or industry research, economics, auditing, risk consulting, and/or risk technology.

 

[ramnik]

This site leads me to believe that for CFA Level 1, "Three years of qualifying work experience must be obtained."

[source=[URL="http://www.investopedia.com/professionals/FAQs/CFA/050204_1.asp"]When must I complete 3 years of work experience...?[/URL]]
You do not need to have 3 years of experience, in order to appear for the examinations but in order to be a CFA charterholder you need to have 3 years of related work experience.
In order to appear for L1 the requirements are

[source=[URL]http://www.cfainstitute.org/cfaprog/getstarted/requirements/index.html[/URL]]
Academic requirements for L1 are:
Have a U.S. bachelor's (or equivalent) degree, be in the final year of your bachelor's degree program, or have four years of qualified, professional work experience or a combination of work and college experience that totals at least four years

 

[Sam Harris]

Thanks for clearing that up.