takasar
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I've got a few months before my MSc program begins and i was hoping to take some entry-level qualification to show my passion and interest in finance. I've shortlisted the IMC and CFA. Given that i only have 4-5 months before the CFA lvl 1 and a significant bill to pay if i do decide to take it, im leaning on the IMC. Even though im aware that the CFA lvl 1 is far more thorough and prestigious than the IMC, Im only really trying to highlight passion and interest more than anything else. Is it useful to that effect or should i just do the CFA instead?

Plus, ive heard (both on these forums and outside) that having the CFA lvl 1 prior to application is not seen as a major game-changer by banks (as opposed to work experience, grades or extra-curriculars), and that some would actually rather train their own bankers/asset managers.

All advice appreciated
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makrxx
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Either are only helpful if you're going to go down the asset management route. Like you mentioned, it's not a game changer and won't add too much value but there's no harm doing so and can be a plus.
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IPEguy
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(Original post by takasar)
I've got a few months before my MSc program begins and i was hoping to take some entry-level qualification to show my passion and interest in finance. I've shortlisted the IMC and CFA. Given that i only have 4-5 months before the CFA lvl 1 and a significant bill to pay if i do decide to take it, im leaning on the IMC. Even though im aware that the CFA lvl 1 is far more thorough and prestigious than the IMC, Im only really trying to highlight passion and interest more than anything else. Is it useful to that effect or should i just do the CFA instead?

Plus, ive heard (both on these forums and outside) that having the CFA lvl 1 prior to application is not seen as a major game-changer by banks (as opposed to work experience, grades or extra-curriculars), and that some would actually rather train their own bankers/asset managers.

All advice appreciated
You doing msc finance? Might be worth waiting until you finish it then CFA 1 will be easy, will be more challenging right now. Work experience is much more important as you say best to try and get internship for summer, not necessarily big grad one bit just send emails to fund shops.
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takasar
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(Original post by makrxx)
Either are only helpful if you're going to go down the asset management route. Like you mentioned, it's not a game changer and won't add too much value but there's no harm doing so and can be a plus.
Of course. I dont think IB applicants even need it. But do you think the IMC would even look impressive at all given that most banks make their graduate applicants do it in 1-2 months?
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takasar
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(Original post by IPEguy)
You doing msc finance? Might be worth waiting until you finish it then CFA 1 will be easy, will be more challenging right now. Work experience is much more important as you say best to try and get internship for summer, not necessarily big grad one bit just send emails to fund shops.
I have only just applied, I haven't heard back yet or gotten any offers. Ultimately, i just want a 1 line on my CV to, i hope, give me an advantage, however small it might be, over someone with similar grades, work experience and extra cirriculars. Im just hoping the IMC would do the trick. the alternative, if the IMC is too weak for that, is that i could do the CFA instead. You do have a good point about work experience, but i already have 3-4 internships and am struggling to keep my CV down to 1 page as it is. Furthermore, could a mention that im doing the IMC/CFA help with my MSc applications/interviews?
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IPEguy
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(Original post by takasar)
I have only just applied, I haven't heard back yet or gotten any offers. Ultimately, i just want a 1 line on my CV to, i hope, give me an advantage, however small it might be, over someone with similar grades, work experience and extra cirriculars. Im just hoping the IMC would do the trick. the alternative, if the IMC is too weak for that, is that i could do the CFA instead. You do have a good point about work experience, but i already have 3-4 internships and am struggling to keep my CV down to 1 page as it is. Furthermore, could a mention that im doing the IMC/CFA help with my MSc applications/interviews?
CFA 1 at least shows commitment and will definitely help in msc applications. CASS offered me a place on their msc investment management with either CFA1 or gmat 600.
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takasar
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(Original post by IPEguy)
CFA 1 at least shows commitment and will definitely help in msc applications. CASS offered me a place on their msc investment management with either CFA1 or gmat 600.
I never considered that. They offered you a conditional based on the result of your CFA? Cass is a business school, whilst im applying to universities (warwick, lse, etc), you think there might be a difference?

Do you think this may extend to the IMC also? Very interesting. My own undergrad degree was not very quantitative (international management china) and my GMAT score for quant was Q49, so im guessing a CFA may help prove my quantitative chops. I'll probably make another small thread based on this
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IPEguy
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(Original post by takasar)
I never considered that. They offered you a conditional based on the result of your CFA? Cass is a business school, whilst im applying to universities (warwick, lse, etc), you think there might be a difference?

Do you think this may extend to the IMC also? Very interesting. My own undergrad degree was not very quantitative (international management china) and my GMAT score for quant was Q49, so im guessing a CFA may help prove my quantitative chops. I'll probably make another small thread based on this
It won’t make any difference Warwick will be Warwick business school, LSE technically isn’t but has great msc finance, CASS is part of City University London.

I don’t think it will extend because IMC is a level 3 qualification so its equivalent to A-level difficulty which is too low for post graduate course.
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Otmar123
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(Original post by IPEguy)
It won’t make any difference Warwick will be Warwick business school, LSE technically isn’t but has great msc finance, CASS is part of City University London.

I don’t think it will extend because IMC is a level 3 qualification so its equivalent to A-level difficulty which is too low for post graduate course.
It is level 4 (first year undergraduate) but your point still applies
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takasar
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(Original post by IPEguy)
It won’t make any difference Warwick will be Warwick business school, LSE technically isn’t but has great msc finance, CASS is part of City University London.

I don’t think it will extend because IMC is a level 3 qualification so its equivalent to A-level difficulty which is too low for post graduate course.
fair enough. tbh, ive always had this niggling doubt at the back of my mind that doing the cfa is overkill when applying for an msc in finance given that the msc likely wouldnt actually add all that much on top of the cfa...

thanks anyway, i think i'll make a new question based on this and ask a few more people
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IPEguy
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(Original post by takasar)
fair enough. tbh, ive always had this niggling doubt at the back of my mind that doing the cfa is overkill when applying for an msc in finance given that the msc likely wouldnt actually add all that much on top of the cfa...

thanks anyway, i think i'll make a new question based on this and ask a few more people
Bear in mind they’re very different qualifications even if a lot of the exams might be similar. You’ll get to do projects etc. Whilst some asset managers really like their staff to have the CFA so it can be beneficial to have both. E financial careers did a piece on those with both have a slightly higher hire rate.
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takasar
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(Original post by IPEguy)
Bear in mind they’re very different qualifications even if a lot of the exams might be similar. You’ll get to do projects etc. Whilst some asset managers really like their staff to have the CFA so it can be beneficial to have both. E financial careers did a piece on those with both have a slightly higher hire rate.
I'd imagine the MSc would also grant the reputation of the university as well and thus help with employment.

Your point about the CFA being used as a condition for an offer surprised me tbh. Id never really heard of that happening. I only have 2 applications left but those are the most important and im now wondering whether i should register for the exam and then put down on the applications that i am a CFA candidate...just wondering how/whether this may help. I've done some of the content as an undergraduate but the cost is rather high and unless necessary, i would rather not book it. On the other hand, i might need an additional leg-up given that my undergrad course was not very quantitative (international management china) decisions decisions....
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IPEguy
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(Original post by takasar)
I'd imagine the MSc would also grant the reputation of the university as well and thus help with employment.

Your point about the CFA being used as a condition for an offer surprised me tbh. Id never really heard of that happening. I only have 2 applications left but those are the most important and im now wondering whether i should register for the exam and then put down on the applications that i am a CFA candidate...just wondering how/whether this may help. I've done some of the content as an undergraduate but the cost is rather high and unless necessary, i would rather not book it. On the other hand, i might need an additional leg-up given that my undergrad course was not very quantitative (international management china) decisions decisions....
Mine wasn’t quant either hopefully they’d give you chance to do CFA if it would help by asking for it explicitly as in my case.
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takasar
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(Original post by IPEguy)
Mine wasn’t quant either hopefully they’d give you chance to do CFA if it would help by asking for it explicitly as in my case.
thanks. all the best. although, if your offer is conditional on either a GMAT 600 or a CFA lvl 1, then you should find the GMAT score a hell of a lot easier to achieve. If you dont mind me asking, where else did you apply?
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