[weareallone]

There seems to be a whole lot of people who, upon passing the CPA Exam, jump right into taking the CFA Exam. There is another group of people, of course, who do it the other way around. Well, this is what I wish to do as well.

n

Some of these folks have studied both Accountancy and Finance in college. There are also folks who have no Finance background, but want to either enhance their resume and/or boost the credential of the work they do/sign-off while keeping in mind the extra work being a CFA AND a CPA requires.

n

However, the general attitude of these high achievers seem to be (a) they don’t necessarily NEED both designations for their current job or future job and (b) they have an unjustified belief that having both designations will somehow pay off big-time in the future – either though a job offer or a quick promotion.

n

Don’t get me wrong, having both designations will be rewarding in some shape or form in one’s future. This is a guarantee, but specifically, how, and to make the most out of it, for what type of work? Let’s not forget, although the CPA designation works well for the entire Audit Industry (whether you are a Public Accountant, Tax Advisor, etc), the CFA is tailored specifically for asset management (portfolio managers).

n

I would like to have a discussion with you guys on this topic:

n

(1) What type of job holders will benefit the most from by having both designations?
n(2) Would a person working in the Accounting field (Audit of Investment Banks, Valuation Specialist, etc.) or a person working in the Finance field (Portfolio Management, Equity Analysis, etc.) benefit the most? – any specific examples of successful people who have both?
n(3) Will being both a CPA and CFA help you get into a better MBA Program? Do the top five MBA programs give your application better consideration if they hold both designations?
n(4) Anything else that I should be thinking about?

n

Again, don’t get me wrong here, of course knowing stuff that a CPA knows will benefit a portfolio manager who is a CFA, and having portfolio management skills would be good for a CPA’s future. I know this!n

n

REG[5/18] - P BEC[8/5] - P
FAR[7/9] - P AUD[8/30] - P

[mw798]

I agree with above post. No other reason to get both.

[Zhaba]

I would take a CFA exam (among other reasons) to send a signal (to whoever you want to send it to) that you are capable of absorbing a large volume of relatively complicated material (CPA is just large volume of material). CFA brings you to a totally different level, IMHO.

[Anonymous]

I have been thinking about CFA for so long. I am now sitting for CMA and planning to complete the exam by 2nd quarter of 2015. Right after, I will study for CFA.

[Anonymous]

LADAVID,

What material you used for CFA? I used BECKER for CPA exam and really like the material. It is very concise and nicely laid out. So I am looking for CFA material that is similar to it. Any recommendation?

Merry Christmas..!!!

[Anonymous]

What are you all planning to do with the CFA? Portfolio management I'm assuming?

[Anonymous]

Both the CFA and CPA have experience requirements that r quite a bit different. Unless you plan to have 4 years of experience in investment making decisions as part of your career path, it's not worth it IMO.

[Anonymous]

Is there any job that realistically combines portfolio management with CPA skills? Or, would it be easier to obtain a great job with the CFA charter if people see your worth because of your accounting skills?

Just trying to understand what a typical job is for someone with both CPA and CFA.

[Anonymous]

cpamst123-

PE jobs may use both skill sets; however, they normally prefer top MBAs due to the wider skill set involved with the participatory aspect of PE investing vs a securities portfolio, where “active” means portfolio turnover instead of actual management participation.

I should add that some litigation consultants have both. The CPA lends credibility in front of a jury and the CFA helps with assessing impaired investments (i.e. damages calculations).

[Skynet]

Working towards the CFA will set me back a few more years, and I'm not getting any younger if I want to get with Megan Fox.

[Peterman25]

Don't sweat it Skynet…She's not getting any younger either and she is cranking out kids. I would say that this increases your chances.

BEC 7/14 - PASS
FAR 10/14 - PASS
AUD 1/15 - PASS
REG 4/15 - PASS

AZ license - Official 8/20/2015

[golfball7773]

Just make sure you don't have Shrinkage Skynet

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[Skynet]

I know she has kids Peterman25. They're name Leonardo, Michaelangelo, Donatello, and Raphael, but I'm Ok with it.

[Kimboroni]

Wow, A71 has been around a long time! Those first few posts were “posted 2005 years ago”! That's OLD!

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[Skynet]

Kimboroni, don't say that. You'll make Jeff feel old.

 
CFA Review Test Bank

[Author]

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