02-20-2007, 10:00 PM
No doubt, currently we are witnessing a boom in Financial Sector in Pakistan but the question which I am quite often asked "Will you be using the advanced tools learned in CFA in the nascent Pakistan's Financial World?" "Do your Financial Markets run on fundamentals as other developed markets do?" Itâs a moot issue anyway.
Qualifying CFA is quite a task to begin with, and I believe it is ideally suitable for people who have specific career objectives. Selecting CFA is a big decision and should be taken after careful consideration. One needs to decide what one's career objectives are. Gathering a bunch of qualifications without specific career objective causes "professional waywardness", and this surely comes under quite a criticism during a job interview. I remember I had to spend 15 minutes explaining KPMG-SA managing partner that why there was a need to qualify CIA when I was well on my through ACCA finals. I got the job offer anyway.
The question is why would any body choose CFA? You would probably choose CFA because you find yourself comfortable with Financial Management subjects or you want to earn a lot of money that supposedly comes with the CFA charter or perhaps you want to add another feather to your professional cap or you might be one of those genii whose appetite for knowledge never satiates. The most commendable reason to start CFA would be that you plan on working in finance. However, if your career path veers out of finance, then investment of time and money on CFA would be just a big waste. It would surely be an eye sore to see a CFA competing for a FM/FD job.
CFA is really an enchanting qualification. Well, that's what I feel. I have rarely met an ACA who, at one time or the other, did not toy with the idea of doing CFA. What I found most challenging, and of course interesting, in CFA is the depth of the course. It is said of CFA that it is "a foot wide and a mile deep". Those candidates, who hold either CA/ACCA/CMA or MBA Finance from a good business school, and with right career focus, are most suitable for the CFA charter. It is not that the course is similar, but those with professional qualifications have the capability to put the amount of hard work required to pass CFA exams. The CFA course is like a 90 degree eschew from Accounts and Audit. I won't say 180 degrees turn as quite a lot of the things I have read so far in CFA level 1 are scattered all over in Professional Accountancy in one form or the other. Things certainly turn red hot in level 2 and 3.
One needs to be equally aware of the fact that by selecting CFA one narrows down one's marketability in Pakistan. Itâs a highly specialized discipline which means in Pakistan one would have a very specific and small job market. In developed Financial Markets one surely stands a fair chance. CFA certainly pays one off if one intends to work in the western markets, South East Asian Market, which unquestionably is the hub of financial services in Asia or the growing Middle East Markets (Average starting salary for CFAs here is AED30,000 + benefits).
Well, my two cents..
Would love to see other members contributing to thread tooâ¦
Regards,
Asif
Qualifying CFA is quite a task to begin with, and I believe it is ideally suitable for people who have specific career objectives. Selecting CFA is a big decision and should be taken after careful consideration. One needs to decide what one's career objectives are. Gathering a bunch of qualifications without specific career objective causes "professional waywardness", and this surely comes under quite a criticism during a job interview. I remember I had to spend 15 minutes explaining KPMG-SA managing partner that why there was a need to qualify CIA when I was well on my through ACCA finals. I got the job offer anyway.
The question is why would any body choose CFA? You would probably choose CFA because you find yourself comfortable with Financial Management subjects or you want to earn a lot of money that supposedly comes with the CFA charter or perhaps you want to add another feather to your professional cap or you might be one of those genii whose appetite for knowledge never satiates. The most commendable reason to start CFA would be that you plan on working in finance. However, if your career path veers out of finance, then investment of time and money on CFA would be just a big waste. It would surely be an eye sore to see a CFA competing for a FM/FD job.
CFA is really an enchanting qualification. Well, that's what I feel. I have rarely met an ACA who, at one time or the other, did not toy with the idea of doing CFA. What I found most challenging, and of course interesting, in CFA is the depth of the course. It is said of CFA that it is "a foot wide and a mile deep". Those candidates, who hold either CA/ACCA/CMA or MBA Finance from a good business school, and with right career focus, are most suitable for the CFA charter. It is not that the course is similar, but those with professional qualifications have the capability to put the amount of hard work required to pass CFA exams. The CFA course is like a 90 degree eschew from Accounts and Audit. I won't say 180 degrees turn as quite a lot of the things I have read so far in CFA level 1 are scattered all over in Professional Accountancy in one form or the other. Things certainly turn red hot in level 2 and 3.
One needs to be equally aware of the fact that by selecting CFA one narrows down one's marketability in Pakistan. Itâs a highly specialized discipline which means in Pakistan one would have a very specific and small job market. In developed Financial Markets one surely stands a fair chance. CFA certainly pays one off if one intends to work in the western markets, South East Asian Market, which unquestionably is the hub of financial services in Asia or the growing Middle East Markets (Average starting salary for CFAs here is AED30,000 + benefits).
Well, my two cents..
Would love to see other members contributing to thread tooâ¦
Regards,
Asif
