CFA Program Forum

[P.J.Fry]

Has anyone applying to law school taken any part of the CFA (Chartered Financial Analyst) program - level 1, 2 or 3? For those unaware, it's a very challenging self-study program done over 3 levels requiring an exam to complete each level. The professional designation of CFA is not awarded until completing all 3 levels as well as gaining 4 years of relevant work experience in the field of finance and investment management.

I took the first level while working abroad in an industry unrelated to finance mostly just as a mental exercise to keep myself sharp. Do you think indicating this on my resume would be beneficial in any way? Could it hurt me in any way either potentially suggesting I didn't have the commitment to complete all 3 levels?

FWIW, I have a business degree, and am primarily interested in corporate and finance law. I'm also considering writing level 2 next June before attending law school in the following September. Again, this is mostly for the knowledge and as a mental exercise - I realize once I begin law school, there is virtually no chance of being able to complete the third level and earn the designation. Also, any thoughts on what it might look like to employers during OCIs to have level 1 and/or level 2 on my resume?

[dabigchina]

0L CPA here so take my advice with a grain of salt. Your CFA level 1 will be seen as an interesting soft, nothing more. Employers become interested in these professional destinations when you have actually used them in some professional capacity: ie you worked as a portfolio manager. I know my CPA wouldn't be worth much if I didn't actually work in public accounting. Keep it on your resume because it shows you do know more than the average kjd liberal artist.

As for taking level 2, I'd save your time and energy. Find a more interesting hobby than taking useless exams.

[Danteshek]

I did levels 1 and 2 when I worked in the investment management industry before law school. It is a qualification that is specific to investment management and is not particularly useful for a lawyer other than in the most general sense that you will understand the investment management industry a little better. No one will think that just because you did a couple CFA exams you are suddenly qualified to manage their money. That is why CFA Institute requires 4 years of relevant experience before they will give you the Charter, even if you pass all three exams.

If you are looking for something useful to do, I suggest you take some financial accounting courses at your nearest University extension program.

[kartelite]

Has anyone applying to law school taken any part of the CFA (Chartered Financial Analyst) program - level 1, 2 or 3? For those unaware, it's a very challenging self-study program done over 3 levels requiring an exam to complete each level. The professional designation of CFA is not awarded until completing all 3 levels as well as gaining 4 years of relevant work experience in the field of finance and investment management.

I took the first level while working abroad in an industry unrelated to finance mostly just as a mental exercise to keep myself sharp. Do you think indicating this on my resume would be beneficial in any way? Could it hurt me in any way either potentially suggesting I didn't have the commitment to complete all 3 levels?

FWIW, I have a business degree, and am primarily interested in corporate and finance law. I'm also considering writing level 2 next June before attending law school in the following September. Again, this is mostly for the knowledge and as a mental exercise - I realize once I begin law school, there is virtually no chance of being able to complete the third level and earn the designation. Also, any thoughts on what it might look like to employers during OCIs to have level 1 and/or level 2 on my resume?

CFA charterholder here.

I think most lawyers accustomed to dealing with people in finance are at least somewhat familiar with the designation, so it will make for an interesting soft at worst. I think it could also be viewed favorably by clients in the finance industry, since it shows you have some knowledge of (and significant work experience in) their world.

That said, if you're not intending to go for the charter, I'm not sure level 2 would be worth it. I'm always impressed when I see any CFA level on someone's resume, but 1) most hiring managers at law firms won't know what it means, and 2) you can't put it on your business card/tout to clients unless you have the designation, which it sounds like you're not really keen on obtaining.

On the other hand, I think overall the curriculum is very good, and you will improve your finance knowledge/keep yourself sharp by studying it.