5 Critical Skills to Excel in CFA (And in Life)!

CFA (or life) needs certain skills in order to outdo. It can be appearing for CFA to become a financial analyst or starting a business. Whether we master the goal we have chosen is pretty much decided by a bunch of skills that we have strengthened over time. These skills are truly needed for becoming a CFA or becoming an achiever. Some of these skills are:

* Initiative - How much do we pay to someone so that they can order us around? Take the case of our mentor or a guitar trainer. This information is available online for free. Yet we need some external push for us to gather and maintain momentum. Having the skill to take initiative means we are always creating and capturing more opportunities that pop up in front of us. And then it goes to next level. So go out and start something. Take initiative and enroll for CFA! Go and create your own detailed notes and methods for financial analysis! Seth Godin talks here about paying the taskmaster premium to someone to order us around.

* Innovation - A clinical definition of being a cuckoo would be to repeat same thing and expect different outcome. How many times have we blamed other things or other people to justify our failure? Maybe this time we should look at what we are doing, and alter it until it works? Instead of bending the world to our wishes and methods, it's easier to become like water and find our way through, around, over or under the obstacle in the road. So innovate on how you study for CFA!

* Perseverance - No endeavor is successful without perseverance. Malcolm Gladwell mentions in his book 'Outliers' that it takes 10,000 hours to become a world class expert in any skill that we are trying to master. Though that's an extreme number, but the message is clear here. However talented we are, put in the hours. Perseverance is not a god's gift; it can be cultivated one baby step at a time. Don't get intimidated by CFA curriculum, hundreds have faced the test and emerged as winner, you can too!

* Perspective - have a view in life. Sometimes we feel our troubles in life are over our level. This gives us a feeling of discouragement; we want to give up our wishes. This is the best time to have a look at others. How many people around have it worse than you? Maybe list down 5 things that you are happy for in life. Basically get a perspective on life we are living. Not succeeding in a CFA exam is not the end of the world, life will give you a chance again!

* Interaction - Create a network around you. It is said that who we are is sum total of the five closest people around us. We have a choice to decide whom to be with. We can choose and approach our mentors for help and guidance. Interacting with diverse people will generate unique ideas. Go out and find people who have already excelled in CFA, seek their help. Ask them how they studied for CFA exam, and how are they enjoying financial analyst career. You will surely get a good knowledge out of this interaction.

Again, I can't avoid quoting a brilliant article of Seth:

You don't know what to do

You don't know how to do it

You don't have the authority or the resources to do it

You're afraid

Once you figure out what's getting in the way, it's far easier to find the answer (or decide to work on a different problem).

Stuck is a state of mind, and it's curable.

for comprehensive information and resources on all things CFA, please visit CFA FAQs

For comprehensive information and resources on cfa, financial analyst please visit http://whatisacfa.blogspot.com

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

What is the CFA Designation?

The CFA designation, or Chartered Financial Analyst, is a high-level certification for professionals in the areas of investment and financial analysis. The program consists of self-study, along with three exam levels that measure almost every level of learning. Professionals must also meet criteria for time in the profession, as well as a high level of competency and ethics. The CFA program, offered by the CFA Institute, is global in its reach and has been in existence since 1962. In the financial world, a CFA designation is considered to be among the highest of professional designations. In view of these criteria, the CFA designation is beneficial for both the individual and the organization in several ways, including the curriculum, the CFA standards and recognition, competencies, and in an overall sense at the organizational level. Before we examine each piece, let's discuss in more detail what the CFA designation means, which professionals hold this designation, and what organizations look for CFA designated charterholders.

Chartered Financial Analysts own their own businesses and work in highly regarded financial organizations around the world. The highest concentration of CFA's is in world-renowned financial organizations such as Deutsche Bank, ABN Amro, and Credit Suisse. Many charterholders have worked in finance for most of their professional careers, while some have been drawn to finance after a "first" career in another field. Because the designation is a global one, CFA's around the world have the same level of knowledge and nearly the same level of experience. In fact, some of the top financial organizations may prefer applicants for various positions to have the CFA designation.

In order to begin study for the CFA program, a candidate must meet a minimum level of experience, education, and competency in the field. First, a candidate must have a Bachelor's degree or U.S. equivalent, or meet a variety of work-related experience requirements. In other words, the candidate without a B.A. must have at least four years qualified experience in the field or a combination of education and experience that equals four years. Internships or part-time assignments do not count toward the experience levels. In addition, each candidate must understand and adhere to very strict rules of Professional Conduct and Candidate Responsibility, and must re-certify to the rules of Professional Conduct on an annual basis. Although it is not stated as a requirement, a CFA candidate must understand enough English to study the program and take the exam in that language, as the program is not available in any other languages.

The question at this point is why is the designation important to individuals, organizations, and consumers? We will discuss each of these aspects during this series, but it's a good idea to have an overall picture of the benefits. An individual with the CFA designation has a highly competitive edge for employment in the financial industry, not only in his or her own country, but around the world. And in a period of financial uncertainty, it may very well be that an organization will hold on to its CFA's during periods of contraction because they do not want to re-hire those levels of competency and experience. Because of the broad based, experiential curriculum, which we will also discuss in the future, a CFA charterholder has knowledge that is applicable in every day situations. In addition, because of the network of CFA charterholders, each individual has access to up-to-date information regarding financial markets all over the world.

At the organizational level, a CFA hire has already been held to an extremely high bar in terms of experience, education, ethics, and professional standard. A hiring manager who is looking at two candidates with equal education and experience may have an easier choice if one of the candidates is a CFA because of this level of professional standard. As we will see with the curriculum structure and competency levels of the program, your organization can build its leadership bench with CFA charterholders. For example, the CFA will probably have not only technical competency but also the ethical and leadership competencies that are needed to move your organization forward.

In terms of the consumer, consider where your organization is in regard to customer service. If you are a financial organization whose analysts and investment counselors touch the public, then the CFA designation is a definite plus. Because of the CFA designation's high regard in the financial world, you can use it as a marketing tool to attract and retain new customers. You can point to the trust that the consumer can have in your CFA's because of the high standard of ethics and professional conduct required of them. You can show clients that in today's uncertain financial world, your organization is acting in an ethical, above-the-board manner because of its preference for professionals who hold the CFA designation.

As we have mentioned, some of the world's top investment banks and financial providers choose to employ professionals with the CFA designation. These CFA's work with the public and also in internal roles related to investment, analysis, and financial forecasting. So consider this from the organizational point of view. If you are attempting to topgrade your organization and benchmark it in relation to the highest performing financial institutions in the world, then the decision to begin sponsoring for the CFA designation and employing individuals with the designation will be a good one.

In our next article in this series, we will look at the CFA curriculum in order to show its benefits for both the individual and the organization.

Copyright 2010 Financial Training Solutions & Bryant Nielson. All Rights Reserved.

Bryant Nielson - Director of Financial Training Solutions - assists executives, business owners, and top performing performers in taking the leap from the ordinary to extraordinary. Bryant is a trainer, business & leadership coach, and strategic planner for those in the capital markets. Nielson's 27 year business career has been based on his results-oriented style of empowering the individual..

Learn more about Financial Training Solutions and our various offerings at: http://www.financialtrainingsolutions.com/cfa-training.php.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

CFA Supplements Offer Hope For Those Who Suffer From Finger Joint Pain

Kayla relies on her typing skills to earn a living. She is a writer for her local newspaper, and she typically types about 80 words per minute. However, a few months ago she began experiencing finger joint pain and she couldn't type as quickly as she used to. Then a friend told her about Cetylated Fatty Acids supplements, and she decided to give them a try.

Cetylated Fatty Acids, also known as CFA supplements, are available in oral gel caps as well as topical creams. Kayla decided to start with the topical solution first and was surprised at the results. In fact, she began experiencing relief the very same day. After a couple of weeks using the cream, she moved onto the oral gel caps and experienced continual, progressive relief from finger joint pain and stiffness. She no longer has difficulty performing her job.

Kayla, like so many people who suffer from finger joint pain, initially worried that she would have to change careers. Some told her that she probably suffered from carpal tunnel symptoms and would probably have to have surgery. Fortunately, she discovered CFAs, the all-natural healthy alternative to prescription medication and surgical intervention.

Unlike many joint pain relievers that can cause side effects, Cetylated Fatty Acids have been shown to display no side effects when used in combination with other pain relievers or by themselves. Many people prefer CFA supplements to prescription pain relievers because they work safely and effectively to diminish pain and inflammation without a doctor's prescription.

CFA supplements have a variety of benefits:

* CFAs work quickly. Most people report fast relief with CFA cream or oral supplements. In fact, many people experience relief in less than half an hour. Over time, CFA supplements continue to reduce and manage pain caused by medication conditions and physical exertion.

* CFAs reduce inflammation. Cetylated Fatty Acids do more than just reduce the pain--they lessen inflammation and provide a cushion of relief by lubricating joints.

* CFAs alleviate pain. By reducing inflammation, Cetylated Fatty Acids alleviate pain and soreness associated with medical conditions and everyday stress and strain.

* CFAs relieve joint problems. CFA supplements lubricate joints and increase overall range of motion for people who use them. Studies have found that people who use CFA supplements over an extended period of time reduce overall discomfort caused by joint problems.

* CFAs heal skin problems. In addition to alleviating pain and inflammation internally, CFA supplements relieve pain due to psoriasis and other skin conditions. When applied two to four times daily, people have reported positive results with the topical cream.

* CFAs reduce muscle pain. Muscle pain caused by overuse, stress and strain can be alleviated with CFA supplements.

Cetylated Fatty Acids have helped thousands of people alleviate a variety of conditions in addition to finger joint pain. For people who suffer needlessly from joint pain, muscle pain or from dermatologic disorders, CFA supplements can alleviate the pain so they can focus on their careers, active lifestyles and more important matters.

Experience lasting relief from joint pain! Check out the authors website at http://www.celadrinclub.com for more information you need to know on the latest medical breakthroughs.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

THE MBA Vs the CFA, What Are They, Are They Worth It, and How Can They Boost Your Career?

Having recently graduated with my BS in Business Management I just got my first job in finance working for a large investment firm in my area. They offered, as part of my job package, tuition re-imbursement, which would pay for about half of the cost of an MBA program. Having done my research on schools and degree programs I have been reading more and more about the CFA, or Chartered Financial Analyst. I became curious to learn just what the CFA was about and what it might mean, in dollars and cents, to my career.

It all brakes down to a few basic questions: What is needed to become a CFA, how much does it cost, how much study does it take and whether or not I am cut out to do the work?

Information available from the CFA Institute tells the story in numbers (I hope you like numbers, if you're going to be a CFA, or an MBA, you'll find yourself working with numbers a lot!). 11% of CFA's surveyed were serving either on the board, or as "C" level executives (CEO, CFO, CIO, etc...), in corporations around the globe (Source: 2005 Investment Management Compensation Survey conducted by Russell Reynolds Associates.)And 88% said (in the same survey) that earning the CFA charter improved their career opportunities and odds for promotion.

Ann Logue, in her article "Should You Get the CFA?", which was authored for the Paul Merage School of Business at UC Irvine, writes that "According to AIMR (Association for Investment Management and Research), students study on average 250 hours to prepare for each six-hour exam. In 2006, 44 percent passed the Level I exams, 54 percent passed the Level II exams, and 59 percent passed the Level III exams. Remember, you have three years to take the first exam after you register. You then have seven years to complete the testing process and get the experience you need to become a CFA."

The short version is: there are three tests that you have to pass to acquire the CFA designation. These tests are tough, pass rates hover between 40 and 60 percent, but, of course, you don't have to face them alone. There are several companies that make a business out of preparing suitable candidates for the tests.

Schweser, one of the two CFA test prep providers that I chose to survey, charges $881 for each study level, their test prep program includes online practice exams, CD study resources, flash cards and faculty advising. There are three tests, and a course for each level, so 3 X 881= $2643, for the test prep alone, plus the cost of testing. Stalla, another test prep provider is slightly more expensive at $1490 for each level (3 X 1490= $4470). The service qualities of the two seem similar based on the documentation available on the two websites. But neither company would provide me reliable test passing statistics so it is impossible to tell if the money spent on these study programs is worth it or not.

One upside to studying for the CFA vs. getting an MBA is that there is little opportunity cost. You can continue to work at your present job (which, hopefully, is in the finance industry) while you study for the tests. Just passing the first test would give you enough of a credential to get an investment job regardless of your background (Take Away: if you have a BS degree in basket weaving this could be your ticket into a financial sector job). The costs are minimal compared to the MBA when you add the cost of two year's tuition, and foregoing two year's pay while you attain the degree.

Improved Compensation Potential

CFA Institute's previously cited survey of more than 16,000 charter holders showed that worldwide the total pay gap between those with a charter and those without it is substantial regardless of experience.

Charter holders in the United States earn 54 percent more than those without the designation.

They out-earn those with an MBA alone by 18 percent.

Median 2005 U.S. compensation was $170,000. For those with 10+ years of experience, it shot up to $240,000.

Charter holders with 5+ years of experience reported median total U.S. compensation of $200,000.

By contrast median income levels for MBA's in Finance with 5 years in the industry are around $77K (Source: Payscale.com). It should be noted that 46% of CFA's are also MBA's (presumably with concentrations in finance).

The Canadian median compensation in 2005 was roughly $100,762 (in U.S. Dollars) and almost $170,000 for those with 10+ years of experience.

An MBA grad is open to broad career opportunities, far broader than a CFA charter holder. But, the MBA is a more expensive course of study than the CFA; taking the prep classes for the CFA Exams does not guarantee a passing grade on the 3 tests (levels I, II and III) of the CFA Certification. While it's possible to bomb out in an MBA program, the pass rates on the CFA tests are a little scary, the 2006 pass rate for the Level I test was only 44% for example. So if you don't have a history of graduating towards the top of your class...then the CFA probably isn't in the cards for you without a serious study habits makeover!

The candidate should remember that while MBA acceptance rates, (for top twenty B schools) may be low, the time spent filling out applications and sending in a small application fee is all that you're out. On the side of the MBA, it is the job of the business school admissions board to select MBA candidates that are likely to make it though the program. There is no such filter (save the ability and the willingness to pay) in the test prep market. Studying for the CFA tests, whether independently or with a test prep company, doesn't guarantee you will ever pass the tests.

"You learn as much or more in the CFA program as in an MBA program because the exams are focused on the kinds of things you need to know to be a stock investor," says C. Beth Cotner, chief investment officer for the Large-Cap Growth Equities division at Putnam Investments in Boston. Conrad Herrmann, a senior vice president and portfolio manager for Franklin Global Advisers agrees with Cotner on the value of the CFA program. "It's one of the metrics we look at," he said. "It's not required, but we strongly encourage it. It's a way of making sure that all of our analysts are on the same page and that they can discuss things in a common language."

I have heard experts compare the two credentials with the metaphor: "The MBA is a hole in the ground a foot deep and a mile wide, the CFA is a hole in the ground a foot wide and a mile deep." If the CFA is a scalpel then the MBA is a hammer. The MBA will have a broader range of business know how: "the MBA Tool Box". If you would rather be a specialist with a rare skill set that is in high demand in one very narrow industry, then go for the CFA. But beware of the fact that many people are taking the tests. There is a genuine fear of the certification becoming "diluted" with many charter holders lessening the economic value of the credential in the near future.

The MBA has similar problems, but the MBA addresses a wider set of skills, and is overall the more flexible and versatile of the two business credentials. MBA's work in business, all types of business require those skill sets. If an MBA went on to become a CFA, the CFA would be another tool in the MBA toolbox. If you want to manage people and have a well developed knowledge of business in a more general sense (as well as being employable in industries other than finance) then the MBA is the way to go.

By comparison the CFA is designed to increase a holder's marketability as an investment manager; a much smaller job pool which is very sensitive to economic variables and market corrections that often have a negative effect on the number of managers being hired or retained in the industry. As far as small business is concerned, the CFA is unusable (some would say useless), while the MBA has value in every size and level of business management.

To those who suggest the CFA is replacing the MBA, Dave Wilson, president and CEO of the Graduate Management Admission Council commented: "Not a chance." The CFA charter produces "first-class analysts," but an MBA covers the fundamentals of business relevant to every type of organization, from entrepreneurial start-ups, to multinational corporations, not-for-profits, and government agencies. "An MBA prepares someone to work within an organization as it relates to margins, strategy, mission, marketing and human resource issues," he says. "That will always make the MBA a relevant degree." (SOURCE: Emma Johnson, eFinancial Careers, CFA or MBA: Which is right for you? Apr 18 2007)

Contained within the calculus of deciding whether or not to get an MBA is the added financial burden of leaving work for one to two years and foregoing your salary for that amount of time. When you add the opportunity cost to the tuition cost (for the degree), the time in your future job (at the projected pay scale) to reach "break-even" shifts considerably to the right. The practical economics of such a decision are as variable as the circumstances of each individual candidate. Analyzing the variables is what being a business analyst is about.

I hope I've shared enough information to lead you towards doing your own research to come to your own decision. It's all about making choices, here's to you making the one that's right for you and your future.

Wayne Silverman holds a BS degree in marketing, and currently is studying towards a Masters Degree in Accounting and is a self admitted "numbers guy". He can be reached by email at fractalshift@gmail.com or see his blogspot at: http://www.steaminghotpancakes.blogspot.com

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.