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CFA after ACCA paper 2.6
09-01-2006, 11:36 PM,
#1
CFA after ACCA paper 2.6
Hello,
I am Faisal from Pakistan.I am a student of ACCA Part2.I joined this course after doing FSC so i had to start it with CAT.I have an idea of doing CFA after doing ACCA till paper 2.6,as one has to be with a Bachelors degree while joining CFA and I will have the BSC(Hons) degree from Oxford Brookes after passing Paper 2.6.Could anyone kindly help me out by giving a few suggestions?What do you guys think of it?Will I be able to get a decent well-paid job after going through this path?

Bless You All,

Faisal Kiani
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09-01-2006, 11:51 PM,
#2
 
that would be a difficult path, faisal

you can join CFA easily but clearing CFA is a difficult thing
secondly, CFA requires 4 years of experience (not to start CFA, but to get the title of CFA)

I dont think that it would be easy for you to get an investment related job only after BSc Hons.
If you can get a job, then you can think of doing it.

Just make sure, you donot regret this decision after some years
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09-02-2006, 03:12 PM,
#3
 
Yeah, Ausman is right. CFA is really tough it needs more than just a study to qualify all parts. so make sure you take the right decision. I suggest you qualifiy ACCA first and then start CFA.

Better contact someone who has qualified CFA or is in the final stages.
Regards
Asif
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09-03-2006, 09:03 PM,
#4
 
Thanks to both of you for the replies.Ausmanpk2001, you said that one has to have a four year work experience to get the title of CFA.I myself do not know much about this but i visited a site that is www.cfe.edu.pk and from there I came to know about the requirements.These are actually just requirements to get into CFA and they have not mentioned any other work experience need -


CFAÂ EXAM ENTRY REQUIREMENTS
You must
· Have a U.S Bachelor’s (or equivalent) degree or four years of qualified, professional work experience
· Complete the registration and enrolment form and pay the required fees
· Be prepared to take the examination in English


It says that you have to have a Bachelors degree OR a four year professional work experience .Is this the thing you talked about?In case you want to get it confirmed, the exact link is http//www.cfe.edu.pk/shownews.php?pa=27

Actually, the thing is not that i am eager to do CFA.It's only a single idea that came to my mind.What exactly I want is a decent job after getting done with my ACCA ,BUT,I do not think that one can get an ENOUGH good job after doing ONLY ACCA,staying in Pakistan.If one goes to the UK then that is a different thing.What would you all suggest me to do after ACCA in order to get a good job,or do you think that ACCA does have a very wide scope in Pakistan??Because I personally know a few ACCA's staying here in Pakistan and they think that ONLY ACCA is not enough if you really want to get a well-paid job in Pakistan.I hope high that I am a bit more clear now.
Thanks once again for your quick responses.

Bless You All,

Faisal Kiani
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09-04-2006, 08:36 PM,
#5
 

Well bro, ACCA can get you a decent job if you have the right experience but doing CFA is like entering the world of money.

Earning wise CFA >> CA >ACMA and/or ACCA

Here in middle east starting salary for CFAs is SR 20,000 basic + benefits ( Which roughly makes Rs500,000 per month) and ACCAs / CAs get about 33% of it.

I have got my ACCA and even CIA but I know they wont help me get what CFA qualification can in Pak. And just look around and you will see many ACCAs / ACAs doing CFA…
Well that explains it all.

So my bet is on CFA

Regards,

Asif

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09-05-2006, 02:08 AM,
#6
 
you'r right faisal about the money & acca stuff.
but I personally don't think it better to step into CFA without having some basic qualification & somethin to fall back on.

You will need 4 years investment related experience for becoming a CFA. The experience requirements are quite tough.

I think that u shud first complete atleast ur ACCA papers, then try somethin else

One thing that I see a lot, that all students of ACCA are always thinkin of gchaning their path. But CA & other medical/engg students dont think about that
Some one is thinkin to do CFA, others are thinking for MBA'

Thts probably, ACCA provides a sort of exit point in the form of BSc.






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09-10-2006, 12:19 AM,
#7
 
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by hanifasif</i>
<br />

Well bro, ACCA can get you a decent job if you have the right experience but doing CFA is like entering the world of money.

Earning wise CFA >> CA >ACMA and/or ACCA

Here in middle east starting salary for CFAs is SR 20,000 basic + benefits ( Which roughly makes Rs500,000 per month) and ACCAs / CAs get about 33% of it.

<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

CFA may well be like 'entering the world of money' but that only apply when you have the relevant experience. Anyone can sit and pass all the levels of CFA but no company will pay the sort of remuneration that you mentioned in your post. Salaries for right CFAs may well be better than that but that only kicks in if you have the correct and very good past experience and product knowledge.

The principal market for CFA is fund management and given the investment sector, the salaries are better there. However, accountants are mainly for auditing and salaries, on average, are not comparable between the two sectors. So, your argument doesn't hold in general.. The correct analysis would be if you were to prove that the same job pay more to a CFA than to any of the other listed credentials.

The way you compared salaries is very childish. We all know the standard of living and earning potential is different in different countries. Someone earning around PKR 500k may well live like a lavish lifestyle, but that may not be true for someone living on SR20k in KSA.. I understand your viewpoint but it would be good for new comers to understand that rationale..

DT

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09-10-2006, 03:07 PM,
#8
 
You say “CFA may well be like 'entering the world of money' but that only apply when you have the relevant experience”.

Where did I say you don’t need practical experience for CFA related Job?


You say, “Anyone can sit and pass all the levels of CFA but no company will pay the sort of remuneration that you mentioned in your post.”

Not anyone can sit and pass all levels of CFA, just go through the LOSs and I am sure they will scare the **** out of you. And if you are a CFA ( and have relevant experience) come to Saudi Arabia I will help you get that salary.


You say, “Salaries for right CFAs may well be better than that but that only kicks in if you have the correct and very good past experience and product knowledge.”

That’s very true for any other professional qualifications.


You say, “The principal market for CFA is fund management and given the investment sector, the salaries are better there. However, accountants are mainly for auditing and salaries, on average, are not comparable between the two sectors.”


Yeah every body knows what accountants do. Don’t tell me that I am in the profession long before you were born. My comparison basis was earning potential only. There is no earning cap for CFAs. That’s that.



”The way you compared salaries is very childish.”

No comments
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09-11-2006, 07:01 AM,
#9
 
Hanifasif,

I knew exactly what you meant in your original post. My post was just to reflect some practicalities.

On a lighter note, I remember reading a while ago that you were interested in considering the CFA qualification, so my friend have any developments?

DT
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09-11-2006, 06:14 PM,
#10
 
Just before opening this thread today morning I thought there might be some tongue twister reply from you. and I was delighted to see a light hearted message from you. You know, no one knows when accountancy forum turns into a battlefield. Wink

I am preparing for CFA level 1 and I don’t know when I will be perfectly ready for the exam. One of the reasons is that course is huge (even though preparing from Scheweser notes which appears quite smaller than CFA recommended course books) and I have not started a full fledged preparation yet. I was supposed to take level one exam this year but owing to lack of preparation I had to postpone it. Hopefully I will write the exam June next year.

Regards,

Asif
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01-18-2009, 08:49 AM,
#11
 
hi, i am an acca level 2 student, my aim is to pass acca and then i want to qualify CFA , is there anyone tell me the importance of cfa, if he is student of cfa or qualified, i will appriciate any effort to help me giving information, best regards to all.
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