How Useful Is The CFA For Getting Into Banking? (The TRUTH!)

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TIMESTAMPS:
00:50 The pros of doing the CFA
02:17 The impression it gives people
03:08 Here is where CFA really stands out
03:36 You should think about your personal situation
03:46 The cons of doing the CFA
04:13 You can make your company pay for it
04:26 The time commitment is huge (on top of studying/working)
04:54 My personal advice
06:31 Summary
07:32 The best situation to be in
08:17 A few questions to ask yourself before deciding to do the CFA
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ABOUT ME:
Hey! I'm Afzal Hussein. I make videos on banking and finance, careers, productivity and lifestyle. I'm also building Simpley (a marketplace for career advice), and I teach on Skillshare. Before all of this I started my career working at an investment bank called Goldman Sachs. Hit the various links above to find out more about me. Thanks for passing by!
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How Useful Is The CFA For Getting Into Banking? (The TRUTH!)
#InvestmentBanking #University #CFA #Careers #Students

[@AfzalHussein]

Get 20% off Analyst Prep products using the code AFZAL20 and this link: analystprep.com/shop/cfa-level-1-learn-practice-package/?ref=afzal

[@user-ht7gw9ww1c]

I will take the exams just not only for being accepted from the bank or whatever... I just love to have knowledge in depth about the topics that CFA and FRM exams covers..

[@sanktalucia4959]

biggest lie I have ever heard

[@user-tm4kk8sr2y]

@@sanktalucia4959 nah you just a loser. Some people like to learn and gain knowledge plus cfa makes you stand out from other candidates

[@AfzalHussein]

Looks like lots of you want the 'CFA vs Masters' video. I'll be recording and uploading it in the next few weeks. Be sure to turn on post notifications (press the bell) so you don't miss the upload! Thanks for your time :)

[@joschomo1010]

Could you also do a video on frm?

[@AfzalHussein]

Please feel free to like, comment and share this video so more students, graduates and professionals can benefit from its content! :) Oh, and SUBSCRIBE too for weekly videos every Wednesday!

[@AfzalHussein]

Get FREE access to my 'Creating the Perfect Investment Banking CV/Résumé' in-depth course here: skl.sh/3eMerCG Get FREE access to my ‘Investment Banking Divisions Explained’ in-depth course here: skl.sh/2BLIKLE

[@q1a413]

Could you also make a video about Fintech and Importance of Blockchain and how should we start to prepare for a future career in this field as it's picking up as a new market.

[@AfzalHussein]

Hey! If you're 18-24 years old and interested in securing career opportunities at the world's best companies visit: greatness.company.

[@yashkabra2989]

Hi, I would like to know about CFA VS Masters in Finance.

[@AfzalHussein]

Will do :)

[@elvisngandwe4552]

@@AfzalHussein I had the same question too.

[@Vounou1]

i know a lot of ppl that do a MSc in finance and since their masters degree follows the CFA lvl 1 (and sometimes 2) guidelines, they just write the CFA lvl 1 (and 2) test on the side. Therefore, they already show more commitment than a regular master student. and as far as i grasp, ppl that are taking this path usually don't finish all the CFA lvls

[@paulrobert3325]

Your videos are always informative especially for someone who wants to break in the financial markets

[@AfzalHussein]

Thanks! Lovely to hear that :)

[@raslan177]

Please do videos on: 1- CFA vs FRM vs CAIA. 2- CFA vs MBA or Masters in finance.

[@jknox2]

The thing about CAIA is that there are not very many job adverts that actually ask for the designation. CAIA may be acceptable if you are already working in an alternatives role but it will not give you much of an advantage if you are trying to get into a HF management or PE role. You are better off with CFA or a masters.

[@arishah2884]

It's a very good video. I like how you say you have to be cut out for it! This is a very true statement. Charterholder Here and did not realize it's that difficult relative to a Masters or other certification program. Basically, it's working a 9-10 hr job daily, and then studying 3 hrs daily and 10-12 hrs on the weekend to ensure you will learn everything properly and pass. The program can easily take 4 years before COVID as L2 and L3 were offered only once a year. It's difficult to pass 2 & 3.

[@kieranmckinna768]

Great video again.... . Good balance between the company side and the employee side when discussing it. Top job keep it up.

[@AfzalHussein]

Thanks for the feedback and for watching! :)

[@hsin4156]

great content man, it helped me to make up my mind whether to take CFA or not.

[@AfzalHussein]

Thanks! :)

[@GauravSharma-yk5yw]

Completed CFA, spent around $3000.

[@AfzalHussein]

Congrats!

[@sayan7528]

Congratulations 🎉 bro 3000$ thats expensive where did you study from suggest me some books or any.

[@ahmediftikhar3008]

@Gaurav Sharma what are you doing right now

[@wistrad]

So grateful for those videos thank you so much

[@raghavmahajan3178]

Also, if you could make a similar video about the FRM certification (FRM for getting into IB), that'd be great!

[@adamdyer4911]

Please do a comparison of CFA and MSF

[@AfzalHussein]

Added to the list :)

[@rav3555]

CFA VS. MASTERS

[@AfzalHussein]

Thanks :)

[@AndrewL31413]

Some MSc has a CFA pathway.

[@RaGe72i]

Currently studying for level 1 in June as I am a graduate outside of the financial field and want to get in. Also considering a masters later on so that video would also be very helpful.

[@AfzalHussein]

Good luck with it! Added to the list :)

[@celestezeng1061]

Can I request a video about “ if actuarial tests r useful for investment banking?” Even though actuary is a rarely known and specialized occupation, I think lots of its skills can be applied to investment banking and people barely relate them together. Thanks so much!!

[@asiimwejohnson7388]

Hi Afzal. Thanks very much for your videos.

[@mohammedmushtaq1969]

Can you please make a video on Dark side of banking industry, like stock pay and all that. Love your content!

[@AfzalHussein]

Already in the process 😉 It's going to be quite detailed and so may take a while to complete. But rest assured, it'll be uploaded at some point.

[@mohammedmushtaq1969]

Afzal Hussein jazakallah for your efforts! When i watched Anton kreil (ex GS trader) i started to rethink the industry as a whole. It’s much more hidden beneath. But hoping a video from your side sooner!!

[@AfzalHussein]

Pleasure! Indeed, a lot to discuss 👊🏽

[@nicolas2250]

Pls do a video on target universities. Thanks a lot for ur vids!

[@AfzalHussein]

Thanks! What exactly are you after with regards to target universities?

[@nicolas2250]

@@AfzalHussein What are the target universities in your opinion

[@arbabhasan9425]

CFA Vs Masters

[@AfzalHussein]

Will do :)

[@zodiac6607]

Could you please do a video where you talk about the path all the way from a levels to uni to becoming a graduate in investment banking, keep up the good work

[@AfzalHussein]

Take a look at this video as it touches on a lot of what you are asking for: kzbin.info/www/bejne/fXuXoWeIq7Giis0

[@user-cx7te6pl2h]

Great video, I would love to see an MBA exclusive video before a comparison video

[@AfzalHussein]

Thanks!

[@i123456987654]

monetarily...means the same thing as financially haha but thank you for the video! super interesting as always

[@aishwaryasrinivasan9139]

The most wanted one 😄 thanks

[@AfzalHussein]

Enjoy! :)

[@celestialoutcomes1742]

I've been a hedgie for 16 years. CFAs are cookie cutter. We look for masters in finance, financial mathematics, and statistics. We'd rather give a job to a datascience major with a finance minor with 3-5 years of experience in banking.

[@kimjames2507]

Hi, thanks for uploading the videos. Just wondering if it is possible to get a summer internship(which is mainly for penultimate or in some cases for Masters as well) before starting a Master course so that you get a full time offer after finishing the course? Are the bb lenient on graduates applying to summer internship? It would be really helpful if you upload a video on how to get a full time offer if could not get summer internship at your 2nd year!(e.g. off cycle or summer internship before starting Master course..)

[@lightningzeus1]

Great video! Please, would you do the comparison between a Masters vs CFA. I'm currently in the second year of my economics degree and I am considering whether to do an economics and finance masters or something like CFA.

[@Monkeyman11113]

Hey Afzal, this is a great informative video that I really learned a lot from. I’m currently a 2nd year student at a community college and transferring to get my bachelors in finance at a pretty good business school. I don’t have much experience/activities because of my community college situation and I’m looking to get an internship at GoldmanSach’s. What are some tips for someone late to the game like me? I will be joining multiple clubs aswell as seeking leadership roles next year, but I want to get started this summer. Thank you, keep up these videos!

[@amanbendel6270]

joe basile Investment Banking clubs would be great or any sort of investment clubs as well. Since you mentioned pretty good business school then try to get into your professional business frat like the one that would be really connected to your business school and if an interview is required to be part of the club then it’s legit with a network of alumni’s in banking and other fields. Also check to see if your school has a program for IB. Some schools do and figure out if your school is actually a target school of investment banks or investment firms. Research your recent school alumni’s that are in investment banking and ask away.

[@b1gheartedbadguy]

If you have a banking and finance degree, which field is best when you are trying to branch out from finance

[@bfelinemaximus]

Thank you for this video

[@user-ht7gw9ww1c]

Yes!! Absolutely!!! I really need to get the license of CFA and FRM!!!!!

[@leylimuhammedova309]

Can you make video about CFI’s versus master degree please?

[@aliciawill6965]

Hello! My dream is to have a career in finance. When I first discovered this passion, I wanted to be a financial advisor, but now I am becoming more interested in being a financial analyst. I am interested in eventually taking the CFA, mainly to further my knowledge of finance. I am very early on in my college education, so I am wondering if a bachelors degree in economics will help me? I see many people going for degrees in finance, so will economics not help me? I am just unsure of which major to work toward in college. Thank you!

[@KrakenBoot]

I’m an Econ major, you can still take the CFA, Econ falls under the realm of “finance majors”

[@ralphfakhoury4873]

can you do a video on CISI and its difference with CFA ? Thank you

[@ahmedabdelmoneim7461]

Keep doing nice videos

[@AfzalHussein]

Thanks! :)

[@whatsuptalent]

Great Video!

[@sudhanshubhatia9831]

I would like to know how can an IITian get into investment banking ? Is an MBA or masters in Finance degree essential given that I have already completed some online courses on financial modelling on wall street mojo and am looking forward to complete others on investment banking too

[@Barca25644]

I saw you in Euston station yesterday

[@AfzalHussein]

You should have come and said hello haha!

[@subuafpro]

Hi....I am an Engineer by qualification with 3 years of Engineering experience. Later I switch to Bank and currently working as Branch Manager from last 5 plus years and really interested Finance. I am planning to do CFA and FRM to enhance my knowledge and skills in Banking and Finance and want to achieve senior level management in the same or other Banks or Financial institutions. Do you think I should pursue CFA and FRM simultaneously or do u suggest better alternatives please. Note: I cannot attain regular courses. Please suggest.

[@GauravSharma-yk5yw]

Subash Chhetri CFA is best for domains like Asset Management, Equity Research, Portfolio Management, Corporate Finance roles and everything related to equity and derivative market. While FRM focuses on a niche, being Risk Analysis, Credit Analysis etc. FRM is more focused, CFA is kore broad. FRM is cheaper and takes less time compared to CFA. Being in banking domain, I would suggest you FRM but if you want to switch your career in near future and explore other aspects of finance do CFA. Btw, CFA designation is far superior than FRM, as it’s considered the Gold Standard in Finance profession. Doing both will just add an advantage to your CV. Obviously your profile will look more employable and desirable compared to others.

[@manjusiddu9207]

Love your content dude.... What say about CFA + Masters?

[@obaidkhan7111]

CFA VS MASTERS (OR BOTH?!) PLEASE

[@gernamz7798]

nice video，defi helps a lot

[@asiimwejohnson7388]

Great content

[@yasminfatima5948]

Would be good if you can make video on CFA vs Masters. Thanks

[@TheKishan55]

Also make a video on opportunities for International master students in bulge firms or boutique investment banking firms in UK, frnakfurt after they complete studies. Thnx

[@divyavora2701]

Hello sir your videos are very informative. Thanks for you videos. Sir can you please make a video on how can engineering undergrads can enter investment banking field. Thanks in advance

[@nem8685]

Hey I’m finishing up my masters but I’m struggling for jobs because all my experience is working in labour jobs any advice on finding an entry level job ?

[@darkpassenger845]

Hey, make a video on CFA + Master's degree in Finance or CFA + MBA

[@rhyssharp9673]

Target uni without CFA vs Non/Semi Target uni with CFA?

[@AfzalHussein]

Depends on so much more. It's not black and white. Experience plays a key role.

[@TextbookBoxingGB]

Could you give your opinion on the ACT, vs CFA vs SIMA? I have the opportunity to do any of them since I’m on a grad scheme at a bank so cost isn’t really a factor

[@yasminfatima5948]

Also CFA vs masters from first tier universities and cfa vs masters from second tier universities

[@anonymoushpgl3682]

in the case of someone with much relevant experience but no CFA, and the reverse candidate, who is more likely to get the offer?

[@hunahil2]

Is there a significant uplift in pay from a candidate who has a CFA vs not. I’m sure there is, I’m more curious on a numerical estimate...

[@musajalloh2627]

Hi I would like master vs cfa

[@AfzalHussein]

Okay. Thanks :)

[@rossmaks2587]

I am pursuing Masters in Science in a good university in Belgium, however competition is Msc in Business Engineering from university or business schools Masters in Finance etc. I would prefer to finish my Msc and start working already and path my way with networking, however with that Msc of Business Administration it will be not easy to land a IB or PE position straight out of school, dues to aforementioned competition. I could start working at Big4 or some smaller consultancy or real estate management and then try to go into PE with some experience in my backpack. However, do you think pursuing a CFA level 1 before I finish my Msc would help me get into PE straight away? Or it is indeed better to do extra one year master at a business school and then chances are higher too, however time and money is a cost for this, since I won't be able to work due to studying?

[@justmoveongaming9205]

Hey Afzal , thanks for the content . I have a quick question, say I Cleared CFA level 1 , will the firm possibly pay for my other 2 level ?

[@varunbhattad3112]

Is cfa a good add on to get into consulting (MBB)?

[@MrMDanny]

Definitely not. Train yourself to crack business cases and spend your time networking. Learning tons of material that you will probably not remember very well after the exam is a waste of time

[@limsinyeesally4693]

master vs cfa plss

[@AfzalHussein]

Added to the list :)

[@raghavmahajan3178]

Please do make the video on CFA vs Masters

[@AfzalHussein]

Will do :)

[@affvn]

I'm in my year 12,I'm thinking about financial analyst but I also want to know how to become one . Please help me out.

[@Eltonsxavier]

CFA vs Masters

[@AfzalHussein]

Added to the 'to create' list :)

[@mauriciof2252]

I am just getting out of college and i am doubting to take cfa 1 because lately i have been more intested in mamagement consulting, private equity and ib (than in portfolio management), and i understand that those do not require cfa. However the job market is tough and i would like to know wheter it would help me open doors or not

[@conoroneill942]

Hey, I would like to know more about the CFA Vs a Masters in Finance.

[@Cg-be2rb]

Can you compare UK universities based on how they r targeted by employers Really difficult to understand!

[@huzaifaqader2273]

Hello, im seeing CFA vs masters in finance in comments pls do this and also please do a video on doing Acf ( Bachelor's in Accounting and finance ) , instead of BBA in finance , then going for CFA or Masters in finance. The advantages & disadvantages etc

[@timelessnoise7356]

CFA vs MASTERS (I'm more interested in CFA with MBA).

[@realmillennial9732]

knowledge from CFA is quite useful when investing your own hard earned money :)

[@sunny279s]

Hi, I m 36 year old.after 10 year educational gap (with no relevant experience) I finished bsc ecnomics 2020 from non target degree. Can I become financial analyst at any investment bank? Does age matters? Any CFA (to be done) Suggestions?

[@gamerswag2752]

Masters of Finance versus MBA

[@siddarth4144]

For doing cfa self study is best or taking lecture classes.

[@mohammedsaqib7601]

good one.

[@AfzalHussein]

Thanks!

[@feargalgunn2729]

Could you do a video on BA courses vs Bsc courses for uni especially for economics ?

[@peterlouis7574]

Fresher cpa+fresher cfa=scope what do u think?

[@zen.11.]

Hi, I will like to know cfa vs master in finance. Thanks!

[@matthewjoseph741]

Is it possible to do your CFA L1 in your placement year? Thanks

[@sid8574]

I have the same question? Did you find out?

[@syedhasanabbas3537]

Sir Can you tell me if I should pursue CFA after CIMA-UK?

[@MrMDanny]

I took the final CIMA exam in August 2019, became a member in November 2019, in June 2019 I registered for CFA Dec 2019 exam. Honestly, it was a waste of time and money for me. Halfway through the preparation for the exam I felt that I could find a better use of my time. If I had practised financial modeling and other useful real life skills it would've been much more beneficial for my career. My advice is to spend this time networking and learning financial modeling. Unfortunately, a lot of CFA information is not really relevant so much. I learned more about DCF modeling on KZbin than in CFA books. btw, I recently asked two CFA charterholders if CFA was useful for them. Both said they could've spend their time in a more useful way.

[@craigmanning1577]

I would like to know about CFA vs MBA please.

[@bfelinemaximus]

Education with certification = Win

[@AfzalHussein]

+experience ;)

[@grantoneill5628]

Wondering how someone from Canad would get into investment banking? We have the 5 main banks, but they mainly hire from only 3 schools in Canada, any tips on how to land a job post undergrad?

[@tsemayekekema2918]

Any answers?

[@shibli5572]

Afzal sir im an bca (Bachelor of Computer) student And i want to do CFA also but does the bachelor degree match with it? Coz bca is not that connected with Finance ... So im worried 😔about it plzzz replyy 🙏

[@SahilSaini-nc2kr]

I am mba in finance and I am working in investment banking, and now I m thinking to do cfa, so tell me it's worth or not

[@manojprajapati2617]

Yes, please CFA vs master

[@Ariz_99]

Hi Sir, can you please upload a video based on masters

[@Usman-ml4ig]

Critical element missed is how it compares with fresh graduatess of LBS or Warwick who don't have a CFA route.

[@TheKhadija10]

masters vs cfa plssss

[@AfzalHussein]

Will do :)

[@johnnyj1969]

Could you make a video on how to pass the tests for an internship or grad schemes?

[@RaGe72i]

Hasnan Javaid no need for a video, answer is simple: practise, practise, practise. I’ve got quite good at them now simply from having to do so many and practising in order to prepare for them.

[@AfzalHussein]

Agreed. Practise makes perfect :)

[@johnnyj1969]

@@RaGe72i Any sites you used to practice them?

[@AfzalHussein]

Google search 'practise psychometric test' and tons will come up. Traditional providers are Kenexa and SHL. Have a look at assessmentdays.com too :)

[@johnnyj1969]

@@AfzalHussein thank you very much may good things come your way

[@amermahmood77]

CFA Vs Masters Please!

[@AfzalHussein]

Recorded it. It'll be edited and uploaded soon :)

[@sumitverma1402]

How good is cfa for indian student

[@vikesh74]

CFA vs Masters Please

[@AfzalHussein]

Sure!

[@saifsalwan2255]

CFA vs Masters please

[@AfzalHussein]

Will do. Thanks :)

[@mosono777]

CFA vs FRM

[@AfzalHussein]

Good idea!

[@Drummer22b]

Cfa masters!!

[@AfzalHussein]

Will do.

[@danielshaikhali5108]

CFA vs FRM ?

[@panikostiritas5216]

First like.

[@AfzalHussein]

🏆

[@sagar95sharma]

CFA VS MASTERS..

[@user-km1gq5nm2b]

Economics or finance masters for investment banking?

[@Von_RX]

finance