Investment Management Certificate (IMC) worth doing?

Wouldn't care. I've seen plenty of CVs with at least CFA level 1 and a lack of work experience/extra-curriculars that I've binned.

I took the IMC last summer (summer 09) - both parts. I think it shows great initiative for someone at a uni level - granted it is not particularly trying if you can do basic maths and have an interest in financial markets and the instruments that are traded there, but I still think it's fairly impressive to be able to tell an interviewer that you took it and passed it off your own back, which is what I was able to do when UBS interviewed me and subsequently offered me an internship with them. It probably wasn't a major factor in my case; as the above poster mentions, you will need some relevant extracurricular activities too in order to persuade them of your interest in the field.

I was advised to take it by an acquaintance who worked in a hedge fund, for what it's worth. Feel free to PM me if you have any questions

do u mind me asking what extracurricular stuff u did that helped u get the internship

thanks

Also particularly interested to hear about perspectives on the CFA and IMC. Is the IMC particularly time consuming - i.e. hours required vs pay off?

It's hard to judge the payoff, as we seem to have a polarity of opinions in this thread! I was told it looks pretty good for an undergrad to have it on their CV, but others (see above) think it's useless. It helped me, so I'd definitely recommend it, if only to show prospective employers that you're committed.

I spent about 4 weeks (about 2-3 hours a day) working on the IMC. That's per module.

If you've done any stats before, then you'll find the first portion of the Investment Practice module (cash flows, discounted models etc) pretty easy. None of it is hard, but there is a fair bit to learn. If you are dedicated, then you can easily do it in a summer and also take 5 weeks off for travelling, as I did.