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A few dimensions to the question at hand so I'll be concise and feel free to provide insight into all or part of the question. Thanks in advance.
How do colleges (specifically, mathematical finance admissions committees) view the CFA? I'm in my mid 20s, econ/finance undergrad, and passed the first two levels of the CFA but just got into a good university's undergraduate math program. The goal is to complete calc 2 and 3, linear algebra, and apply to a masters program. I'm attempting to optimally allocate my time.
Is there any "real world" value in having a masters in mathematical finance and the CFA?
If I self-study calc 2 (topics for my course will include: techniques of integration, volume of solids of revolution, infinite sequences and series, differential equations) and enroll in calc 3, how much of calc 2 is applicable to other math classes/topics (e.g. multivariable calculus, linear algebra, Brownian motion)?
Thanks again.
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goldorak
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| Total Posts: 1091 |
| Joined: Nov 2004 |
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What does the acronym CFA refer to?
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If you are not living on the edge you are taking up too much space. |
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| Chartered Finanacial Analyst |
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goldorak
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| Total Posts: 1091 |
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| Never heard of that. |
If you are not living on the edge you are taking up too much space. |
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pj
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| Total Posts: 3628 |
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> never heard of that
@goldorak
tsk, tsk  |
I saw a dead fish on the pavement and thought 'what did you expect?
There's no water 'round here stupid, shoulda stayed where it was wet.'
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deeds
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| Total Posts: 516 |
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it's a reasonable answer, pj.
imo G has demonstrated in his posts he has significant discernment and the wisdom to invest time in getting people right for his team
he may not have need for a shortcut indicator of 'competence' or the significant likelihood that it is an indicator for the opposite
that said, i love the breadth of the curriculum (body of knowledge), it's wonderful to have a comprehensive map of the major landmarks of finance, and it is updated in a timely way
means nothing if you don't apply, review, revise
it's just more than coinflip that a charter holder will have no idea, or worse a mistaken notion about 90% of the info, odds can go up if they passed the test on the first try each time...also true in other academic pursuits, most don't remember the details of their own research work in graduate school...something about the confirmation of one's mastery makes us think we are done.
EDIT: Apologies, OP, for not responding to you...i hold a charter
- curriculum has provided some great leads on effective, standard or superceded analytical tools not mentioned elsewhere (except finance grad school, i didn't attend)...good way to become conversant with an area quickly, particularly with key strands of thought
- although CFA is weighed like an MBA (another somewhat dubious indicator) where i work, i understand it may be held in less regard elsewhere
- i would imagine individual professors' view on CFA may vary depending on their experience in the commercial world, admissions programs or departments probably weigh it as a qualification that is not easy to obtain and indicates a certain academic background (in line with a niche program like MFE although the two are very diff)
- on technical question about applicability of calc...probably time to stop thinking that way, find a few texts or papers on line and have a look and see what makes sense to you personally... |
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pj
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| Total Posts: 3628 |
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@deeds and goldorak
Sorry, I need to clarify.
I meant simply :
"why are you messing up the inexperienced minds?" |
I saw a dead fish on the pavement and thought 'what did you expect?
There's no water 'round here stupid, shoulda stayed where it was wet.'
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What do you mean by "real world" value ??
If you're asking if it will help you in your daily job, possibly not (at least not to justify the time investment)
But apparently employers like it because it looks good if they employ "qualified" staff... I.e. a CFA can be better than a PhD in particle physics. |
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@silverside By real-world value I meant do employers see any value in having the CFA in combination with a masters in mathematical finance?
Given that I've already completed the first two levels of the CFA, I don't want to not complete the program. I equally don't want to complete the CFA if I can obtain my masters and employers view the CFA as a not a big deal because then I'm more on the quant side. |
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| you are thinking about it from wrong direction ... value is what you have in mind, not how you can trick employer to hire you ... |
First Commander of the USS Enterprise |
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As much as I hate the CFA bullshit, I suggest that you complete the program. It is a good entry level qualification for getting into large institutions, and is portable across jurisdictions. But also keep in mind all the flaws in what they teach. To date, the CFA morons still have yet to man up to their role in the 2008 financial crisis (think credit derivatives valuation here - where did so many people learn to assume normal distributed returns and ignore the consequences of being wrong?). Do they still profess the Black 1976 futures model to be the right one for commodities?
Then get a job, and if time permits jump right into the master's degree while you are working. |
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| @tradenator thanks for the insight. Agreed on your general thoughts around the CFA and completing the program. In terms of going for my masters in my late 20s or 30, do you have any comments? I don't envision taking an entry level quant role upon graduation. I have corporate finance and investment banking experience which I think can be leveraged into gaining a trading or hedge fund role. |
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| Yes, assuming there is a university available with evening courses, I think it would be a good idea to get a masters while working if you can. Make sure your employer is on side before diving into it, and that you can handle it without letting work slip. |
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