lol. somehow, i actually feel the knowledge from level 1 is quite equal to the module 12 already.

Some topics in module 12 are not covered by CFA level 1, such as valuation, bond management and option strategies.

sorry, but what is irc?

It is quite right to say that CFA is not well-recognised yet in Malaysia partly because our market is not sophisticated enough. Most of the clients here are more concerned with tax / accounting issues and regulations when it comes to undertaking a capital market transactions. Most of them are not really comfortable with some of the complex modelling / finance concepts. Only some big funds employ competent people that are able to understand what you propose.

Trading wise, liquidity issues of malaysia stock market is another barrier and the cost of trading in Malaysia is inhibitive as well especially when it comes short-selling. it makes individual traders hard to implement some of the trading strategies, as compared to trading in Singapore where everything seems much more easier.

To put it in another way, in the mean time, there isn't a lot of interesting opportunties for qualified CFAs to fully practice the things they learned. But I wish to say, opportunities are for those who prepared. Asia is the now the hottest market financially and it would certainly mean something eventually for CFAs, since there will always be a regional competition for talents. I just think that our CFA society in Malaysia should do a bit more of advocacy to raise our profile, Maybe we are a bit small in the mean time with only 700+ members.

are you rfering to the investment research challenge organised by the CFA Institute?

I'm not sure. Sorry, I was browsing the noesis website and found the fee structure. 5,500 with IRC, normal education only is 4,500. Diff is RM 1,000. What is this IRC all about?

I believe IRC means intensive revision course

IRC = intensive revision course

btw, Justin, u've just registered today i see, when u said we, do u mean u're one of the charterholders around?

It is true what you guys said about our market not really needing CFA at the moment, but I really think they should at least regard us as a prestigious group of ppl. It is really a shame that many people do not know about this qualification and also the vigorous curriculum we all go through. People with at least this qualification should at least be regarded as higher than masters and I really do not understand why IB's don't think of this qualification is comparable to some accounting or finance degree background.

IB's would give interview to people who have accounting or finance degree background when they are fresh graduates, while people who want to switch careers like us go thru hell with this curriculum and not given much opportunity? I kinda find this a bit unreasonable. Might as well do another degree in finance right or master in finance? Shorter time.

About big investment banks and hedge funds, when you said relevant experience and MBA, do you mean that they will not take freshies even for entry level jobs? Because prior to obtaining an MBA you will need a significant amount of work experience, ie. Ivy league schools will prolly have an average MBA candidates of age 29. If that is so, it is out of the question at the moment. (still got plenty of time to prepare for that)

Hope that they will at least in the near future, recognize us more when the job market becomes more competitive. Thats why getting it now is better. hahaha

Anyway, what is the CFA for then, if it is not so useful here. It is so difficult to pass and takes 4 years to complete on average? why is everyone taking it then?

This post has been edited by gooni3: Nov 4 2011, 05:36 PM

So Noesis offer normal class for RM4,500 and additional RM1,000 for intensive revision course. The name of intensive revision can tell that it is revision (maybe summary) class, so the tutors won't go into detail but instead they will tell you the tactic and which topics are important to bed focused with a short period.

My bad, I havent registered to be the CFA member yet .

Who are 'us'? So do you mean already pass all CFA or you are a chartered holder ?

us means people who are in the CFA group/industry

and yea it means people who have passed the exams of at least any level. I was using us for the sake of easy referencing instead of using words like "people who pass all 3 levels and earned the charter"

its easier to say "us"

CFA holders do not need to tell everyone how prestigious they are to pass the CFA exams. If the CFA holders are good and perform well in the job, his contribution and effort will be recognised. Action is louder than word. For my case, I am the only one who is expertise in valuation and excel modelling in the department, so I was allocated to work on jobs that involve valuation and subsequently being transferred to strategic planning and structuring department so I can fully use what I have learnt.

thing is, if we don't even get the chance to interview then how to show actions?

Why limit yourself in KL? If you cannot find job with the CFA qualification, you can always go to explore in other countries, and the nearest one is Singapore.

The IRC is an intensive revision course, comprising of 3 full mock exams and lecturers giving pointers on what to look out for.

The mock exams are very useful as they are conducted a month before exams. Gives you a wake up call if you're still dreaming & gives you an idea/feel of the exam.

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Added on November 4, 2011, 10:11 pmGooni3:

1) Doing the CFA program doesn't guarantee you an interview & a job.
2) It is a violation of CFA's Codes & Standards to say that you are superior/prestigious or in a different class than others.

Have you ever considered the scenario where you take years to do the exams and you don't get into IB?

Think long-term.

This post has been edited by fino_abama: Nov 4 2011, 10:11 PM

fino, i actually meant that not us say we are superior or prestigious, i mean at least they would think we're comparable to a degree holder in finance or better?

because, if a degree holder can get jobs in finance, and people who pass 3 levels cannot, isn't that a bit sad?

and yea thats y the long term part, might as well take degree all over again right? at least degree has a higher chance than cfa into IB. If that's really the case.

kinwing, yea i know other places regard it higher, but i of course would love KL more

fino, what else can we do if we don't get into IB, that means our cfa is completely useless?

If u do a degree again (assume 4 yrs), you'll be 26-27 and still no guarantee of a job in IB, unless you spend $$$ to go into Monash/Nottingham or overseas. The amount of money spent on degree is much much more Compared to the amt you spend in the CFA program. And a degree is full-time. The opportunity cost is too high.

If you don't go into IB, you can always go to Securities firms, Fund Houses, Private Equity, Ratings Agency, Risk Management. It's not always about IB. EPF pays for their employees to do the CFA program. PNB has an in-house training for their employees to do the CFA program. That's only a few names to give an example (there are many more) So long as you are in the investment industry, having the CFA qualification makes you stand out among your peers. It's a gold standard.

Anyway, since you're in Level 1, you can still consider not continuing the program. Hahaha.

The truth, my friend, is that if you are in markets like UK (Aus or US maybe, but not as likely as UK), Employers are generally more receptive with ppl from non accounting / finance background switching to IBs. It is only in Asia that employers prefer employing candidates with relevant background.

It is not that big investment bank has a bias towards experience / MBA. it is just that given so much position available, you are actually competing against other better candidates with relevant experience. My point is competition dictates who they can choose. that is all. The bargaining power is not on your side especially if you are freshie. Plus, the finance world is very much credential oriented because what we are selling are partly image. The credentials you selling is instrumental in secured an engagement / funds from investors and client expect they are being serviced by people with relevant experience. I have seen exceptions to this, but these freshie are.. mainly from Oxford, Cambridge LSE or he is some big shot's son(I have friend who manage to secure a job in prestigious IB as a freshie just because he is from Oxford, he did Mathematics, not much of a relevance huh?)

I am pretty sure in the future CFA will be more recognized and many ppl are taking it because CFA is well recognised in the region (Singapore, Thailand, Indonesia, etc where there are regulatory recognition for certain capital market activities) and we want to be associated with it. To be very honest, I took it because my firm sponsored my studies (it is relevant to my work, mergers and acquisition / valuation / consulting) and I find the material interesting too (but i got bored when I achieved level 3 and plus i was really busy with work then. But i think it is a waste if i just give up since i am this far, might as well finish it and I got lucky)

In short, CFA has a prestige value but not much of a practical value.. yet (in Malaysia). the fact that it is difficult to pass have nothing to do with whether it is useful or not. Theoretical physics is difficult but still there is no practical value in Malaysia, for example. (I do not mean CFA is harder or comparable to Theoretical physics, it does not)

I really hope you strife to achieve what you aim for and i hope you will get there too. Your tenacity and dedication is also a point to show to potential employers other than your superior CFA technical knowledge. Please also keep abreast of other worldly knowledge such as international / macro economics and financial regulations in the region if you wanna keep up with the game in the world of finance... for the sake of impressing the employers. Cheers!

no, i want to get it =p

my aim is really just some experience in the investment industry (doesn't matter which field) it's just that for some reasons I have a built in subconscious idea that IB's give one of the best experiences.

I have some obligations in the future, but prior to that, I'm supposed to gather character building work experience and of course I would want it to be in the investment industry