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Question: I have completed my CFA in Jan-2010. How can I get my first job in a good company? There are no vacancies for freshers.

(Sarabhjeet Singh)

Expert Opinion: (By Aparna Anand)
I agree that market conditions had been bad for last one and half years and companies are being very selective in their recruitment, making it more difficult for freshers. But now companies have started hiring again. I suggest that you keep your patience. Keep yourself up to date with the markets and continue to apply for the jobs of your choice.
ICFAI University alumni division has a placement wing which can help you find the right kind of job. You can also explore participation in FATP being organized by Cygnus. You can get the details from alumni department.

 

Question: I came to know about you on the financial expert forum, wish to seek some advice with regards to the CFA program preparation strategy, prospects of the course in the banking sectors in India.

(Neelanjan Sanyal)

Expert Opinion: (By Raghuram Manchi)
CFA of ICFAI University is well recognized in Banking Industry as a professional qualification. The CFA course helps the student, while working in Bank, in the areas of Credit Appraisal, Project Finance, and Credit monitoring and so on. Most of the bigger banks have Mutual Fund Subsidiaries and Insurance subsidiaries/JVs in which the requirement of CFA is very much necessary, as CFA course gives a thorough grounding in Equity Analysis and Stock Markets. There are also huge Treasury Departments in Banks which deal with investments in Government Bonds, Approved securities, and Company Bonds/debentures etc. The professional competence which a CFA course gives has no parallel.

As regards preparation for the CFA course, in my opinion, the foremost requirement is conceptual clarity in any topic. The formulae, derivations etc help, but a student can not expect to pass CFA without the concepts being clear. This requires regular reading and repeated practice of problems. Last minute preparations never help. One must plan and work as per a schedule.

Trust this reply helps you.

 

Question: I wish to know the market acceptability of CFA (ICFAI University) and approximate salary packages for the same.

(Anup Joshi)

Expert Opinion: (By Pranay Kumar)
CFA (ICFAI University) is well recognized by Indian Banks, Mutual Funds, SEBI, corporate and Brokerage Houses. Even our company employs have some CFAs on its rolls.
The salary Package offered to the CFAs depends upon their experience, other qualifications and the job profile applied. Typically a fresh CFA can get from Rs2L p.a. to 4L p.a. with a mean salary of Rs2.75L p.a. The experienced or other qualifications may help one to draw much higher salary.

 

Question: I would like to understand from you the value of CFA in Indian markets because you are in a good position after completing your CFA but i am still searching for a job for the last one year.

(Manish)

Expert Opinion: (By Aparna Anand)
Indian CFA has its value in Indian markets. Companies in the fields of finance, stock trading companies, banks etc recognize it and know its value and potential. Regarding the jobs, I'm sure you must be aware of the difficult economic situation leading to bad job markets since October 2008..... All the people passing out in 2009 and 2010 are facing difficulties in getting placed. But I'm sure you will soon get placed as the job markets have already started to open up. My best wishes.

Meanwhile i would also suggest you to look at participating in the FATP organized by alumni relations team along with Cygnus. This will certainly make you more employable and moreover they also have a placements team who will help you in placements after the 3 months training program.

 

Question : Sir i have done MBA in marketing And i am working as a Marketing Executive, i want to do MIFA from ICFAI University will it be beneficial for me if yes then guide me, what are the job prospects and what is the guarantee for a job?

(Sandeep)

Expert Opinion: (By Pranay Kumar)
My advice is as under:
Do you enjoy sales and business development job? MIFA will help you to target in selling of financial products.
However, it is quite rigorous program. It is more suited to the people who like research and desk related job.

 

Question: I want to build my career in the field of equity research. What are the prospects and what skills should i develop to get into this chosen field.

(Priyank Gandhi)

Expert Opinion: (By Harihar Subramanium)
The area of equity research is further sub-divided into 4 key sub-segments in the current equities set up viz.

  1. Macroeconomic research with focus on broad economy level trends
  2. Technical research with focus on charts and market momentum
  3. Derivatives research with focus on analysis of derivatives data
  4. Fundamental research with focus on sectors and a bottom up approach to investing


In all the above 4 cases, an educational qualification like CFA or MBA can be a good advantage to begin with. However, in all the above areas most of the learning is done on the job.

In terms of skills some of the skills that will help you in the above roles would be:

  1. Ability to cut through mounds of numbers and draw meaningful conclusions
  2. Ability to communicate a story effectively to clients
  3. Ability to envisage a trend / story before the market begins to see it.

Beyond that, like geometry, there is no royal route to equity research.

 

Question: I completed CFA in 2010, but like to add another degree either FRM or ICWA. Which one would be a good combination? Please Suggest.

(P.K. Patro)

Expert Opinion: (By Bharat Dave)
According to me after completing CFA you do not need FRM or ICWA.CFA is a specialized course for financial management. I am sure that ICWA neither supplement nor compliment to CFA these two are different fields. I am not in a position to comment on FRM as I am not really aware of its syllabus. I may suggest instead CS( company Secretary) course which can be useful in midlevel companies who need a company secretary and finance person but do not need two professionals full time.

 

Question: I have done b.com and pursuing cfa, which are the companies that can hire me while pursuing cfa? I want to work as a financial analyst while studying. Or is there any need to do MBA to make my profile more valuable.

(Rakesh Kumar)

Expert Opinion: (By Bharat Dave)
You do not need to do MBA, though it may be helpful but the efforts to put in and cost that may be incurred may not commensurate with the additional help you may get in your career. If you want to work as a financial analyst, any company in financial sector like renowned broking firms, Mutual Fund or any investment company may hire you.

Secondly companies in other fields with huge cash surplus and having investment division of their own may hire you.

Thirdly, our syllabus of CFA is so complex that for any medium to large scale company you may be useful in managing their finances. You may also consider attending the FATP program at Hyderabad. It will help you kick start a career.

 

Question: I am a CS (Final) and CWA (inter) student, will it be beneficial for me to obtain CFA (MIFA) qualification from ICFAI University? After completing CFA (MIFA), can we use the CFA designation?

(Gaurav Girish Singh Rathore)

Expert Opinion: (By Aparna Anand)
It very much depends upon the career line you wish to choose for yourself. I would say there is not much of synchronization in CS and CFA. CS deals with company laws and regulations whereas CFA provides knowledge and exposure to various domains of finance. So based on your interest you can choose to pursue CFA. Yes you can use CFA designation after completing CFA course.

 

Question: I am handling Finance and Account aspects of Projects of KS OILS LTD for last 2.5 Years. I am looking some advice and guidance in order to build my career in Project Management

(Sourabh Gupta)

Expert Opinion: (By Pranay Kumar)
Project finance is very fascinating field. Developing India has a growing need of Project Finance personnel. To start with Prasanna Chandra Text Book on Project Finance. You may also look into if you company is undertaking any expansion project. Interacting with concerned personnel will give you practical exposure. Banks, financial institutions and corporates look for the people with such expertise.

 

Question: I am enrolled into CFA from ICFAI University, Triupra. I want to know that what is the future of CFA from ICFAI University in comparison with CFA from USA. As I know that ICFAI is a Private University and not approved by AICTE. Will it create any problem in future as I came to know, distance learning courses should be approved by AICTE.
Further, I want to know that at present I am working as a senior accountant in an Infrastructure Company located in Gwalior (M.P), then how can I take benefit from the CFA program in my Accounting and Taxation field or should I change my field to investment or banking related work. Which type of ability should I improve myself for a bright future as a CFA. Please reply me its very important for me.

(Vishnu Sharma)

Expert Opinion: (By Shalem Raju)
As per the AICTE Act, Universities do not need approvals from AICTE. Only affiliated colleges of Universities need AICTE approval.

CFA is a comprehensive program in Finance. It includes Accounting and Taxation also. CFA qualification improves the competency in moving up once in chosen field. CFA also helps in finding new avenues in Investment Banking, Financial Advisory, and Mutual Fund Industry. One should choose the professional line on the basis of ones interest and the availability of opportunities in the field.

 

Question: Does Organizations (including yours) recruit freshers especially CFA's with no other P.G qualification other than a CFA?

(Manoj Aswani)

Expert Opinion: (By Pranay Kumar)
In Mott MacDonald which has core strength in engineering hires CFAs with engineering background. In fact, it gives more weight to CFA than MBA from tier II schools.

 

Question: I have completed my CFA in 2010. I want to pursue my career either in Fund management or Treasury. Please advice if i need any additional qualification required to get into same.

(Bhavesh G Katariya)

Expert Opinion: (By Aparna Anand)
CFA qualification is good enough to pursue a career in fund management. You do not need additional qualification to get into this field but you can pursue courses like FRM as an add on.

 

Question: I am working in eclerx since last 3 years. It is a KPO, i want to change my job and get into Security Analysis. Please advice on how to make this career shift.

(Aniket Kulkarni)

Expert Opinion: (By Joshulla Bhaskar Ram)
The experience gained in KPO would be valuable for broking, mutual fund and Exchange. I suggest you look for suitable openings in these sectors or approach through consultant or employees. I am sure you would get good break sooner.

 

Question: I am a CFA with 4 yrs experience in Financial and Business Operations. Due to my experience in different fields and a higher package, I am not getting a chance to move in to Investment Banking. Can you please advice?

(Tarun Sethi)

Expert Opinion: (By Dave N Bharat)
You have replied to your query in your mail itself. As you said because of your experience in various fields and high package you are not finding a job offer in Investment Banking Firms.

You have not mentioned what are your duties or area of operations at IBM. If you are very keen to get into Investment Banking, you may have to be prepared for compromising on your remuneration package and/or position, because this is the field wherein without experience and actual performance you do not get handsome package.

One more point worth mentioning is that the more time you spend working in other fields the more difficult it becomes for you to move into Investment Banking. Because after a while it’s not the qualification but the experience becomes more relevant for the prospective employers.

 

Question: With reference to my earlier query you suggested me P.Chandra's Text Book on Project Finance. I want to do a certification program on Project management. Please suggest if a certification from PMI would be good for me.

(Sourabh Gupta)

Expert Opinion: (By Pranay Kumar)
PMI certification is very reputed in the industry. It will definitely help in career advancement in the direction of Project Management. One can aspire to mantle the role of Project Manager after that.

 

Question: Sir, I have completed CFA in last October. Every financial Analyst job requires at least 5 years of experience. As i am a fresher in your opinion how can I get a good start in this area?

(Shinto Stanly)

Expert Opinion: (By Amitabh Chakraborty)
This is a very common dilemma faced by young students. Companies demand work experience before employing in the job, a young professional does not have any work experience. This is the chicken and egg situation and we do not have one clear answer.

Having said that, all post graduate professional qualifications are best utilized if they were acquired along with the job. These qualifications should never be considered as the ticket to a job, but they hone the skills required for the job. You are lucky that you are already in a professional environment and have acquired additional qualification. You being already working as a Trainee, I am sure you will gain experience in your chosen field, which will help you gaining an entry in a financial analyst job. You may also look at opportunities like participation in FATP. This will give you a good launch pad and suitable job opportunities.

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