This is an article from The Hindu :
Programme to meet industry needs
R. RAVIKANTH REDDY
The Institute of Chartered Financial Analysts of India (ICFAI) University has launched Chartered Financial Analyst (CFA) programme.
The Indian capital market is growing from strength to strength and getting integrated fast into the global financial scenario thanks to financial sector reforms.
The positive signals have led several Indian companies to go global with wide range of products and services. And this scenario created employment opportunities for professionals to guide this burgeoning industry.
To train professionals for industry needs, the Institute of Chartered Financial Analysts of India (ICFAI) University, Tripura, has started Chartered Financial Analyst (CFA) programme.
It is based on contemporary theory and practice, provides a strong conceptual foundation to those aspiring for careers in investment industry and imparts knowledge and skills in equal measure.
"The focus of the programme is on practical applications with lots of case studies," says J. Mahender Reddy, Vice- Chancellor of ICFAI, Tripura. Students with any discipline can enrol in the programme and complete it in 12 to 18 months depending on the waivers for possessing specified qualifications. Students with prior qualifications like CA, CWA, MS (Finance), MA (Economics), MS (Accounting), M.SC (Stats) and MBA (Finance) are eligible for waivers from certain subjects. Students would be enrolled as private candidates and the University would award the Master of Financial Analysis Degree and also confer the CFA Charter and Designation on the student. Since the ICFAI University in Tripura is recognised by the UGC under Section 2 (f) of the UGC Act, the degree would be recognised all over the country and they would be eligible for higher studies in other universities. Prof. Reddy says trained CFAs would have promising careers in Equity Analysis and Valuation, Debt Analysis and Valuation, Derivative Analysis and Valuation, Portfolio Management, Mutual Funds, Pension Funds, Hedge Funds, Financial Research, Investment Consultancy, Venture Capital, Investment Banking, Credit Rating, Wealth Management Services and Financial Research firms. The programme is divided into six groups and clearance of first group is must to study the second group. Examinations would be conducted four times a year all over India. The course fee is around Rs. 22,000.
I don't understand, how can a CFA Charter be issued by two bodies i.e. ICFAI Tripura and CCFA. And god forbid, if CCFA loses the case, what will be the fate of MS(Finance) students,. then we won't get the charter even by studying the syllabus of CFA.
now guys if i dont get through nm I am seriously going to pursue cfa now ms finance from icfai...can you tell me what are the prospects of a cfa with mba in finance or banking...even if i do get thru nmims i am still keen to pursue it...so is it advisable to do it along with mba...
provided that i start preparing from march 15,how much time do you think it should take me before i can appear for group 1 exams....
i have gone through the whole thread but i'd still like the experts to answer my queries keeping my profile in mind...
thanks
You can appear for July 2007 session. Tumtum is standalone MS finance/CFA and he is doing well in industry with package close to what IIMs get.
Even a standalone CFA/Ms finance is good, and if you add on MBA finance, then it is cherry on cake.
I don't understand, how can a CFA Charter be issued by two bodies i.e. ICFAI Tripura and CCFA. And god forbid, if CCFA loses the case, what will be the fate of MS(Finance) students,. then we won't get the charter even by studying the syllabus of CFA.
CFA tripura is their final trump card. CFA AIMR cant challenge legislative legislation. If CCFA looses case, then they will transfer us to CFA tripura. You get CFA charter after Kappa now.
I talked to ICFAI academic head and she said student interest will be protected. She said CFA will be awarded by ICFAI and their plans remain unchanged.
CFA tripura is their final trump card. CFA AIMR cant challenge legislative legislation. If CCFA looses case, then they will transfer us to CFA tripura. You get CFA charter after Kappa now.
I talked to ICFAI academic head and she said student interest will be protected. She said CFA will be awarded by ICFAI and their plans remain unchanged.
BaBu,
Can you give me a link to the original Tripura Government Legislation which authorises ICFAI to grant CFA Charter. This will certainly clear every thing. Till date, I myself have not been able to find the link. Nor any thing is published about the same on ICFAI TRupura website. Even the MFA degree is not mentioned on ICFAI website as well as ICFAI Trupura website
Hi Tumtum,
I want to ask 2 things from you:
1) Is it true captive KPOs like jp morgan, mc kinsey knowledge centre or goldmann sachs give junior analyst 6 lakh p.a package? Thats double then what third party KPO like aranca, EVS, copal gives !
2) How tough quantitative analysis is ? I am good in maths but on naurki.com there are couple of Ads for financial analyst which mentions you need to be Btech specially from IIT to do quantitative analysis ! Is it glorified arithmetic done on excel sheets or is it highly advanced quant?
Let me know your thoughts when ever you are free to reply.
Babu.
Hi Tumtum,
I want to ask 2 things from you:
1) Is it true captive KPOs like jp morgan, mc kinsey knowledge centre or goldmann sachs give junior analyst 6 lakh p.a package? Thats double then what third party KPO like aranca, EVS, copal gives !
2) How tough quantitative analysis is ? I am good in maths but on naurki.com there are couple of Ads for financial analyst which mentions you need to be Btech specially from IIT to do quantitative analysis ! Is it glorified arithmetic done on excel sheets or is it highly advanced quant?
Let me know your thoughts when ever you are free to reply.
Babu.
Babu.
I f you read some of my previous posts, then I have mentioned that junior analysts get paid around 6lpa but do really dirty work of maintaining pitch books in captives. Trust me as I say this but I wouldnt do it even if I was paid twice that amount!
Quantitative analysis has a lot to do with probability, testing of hypothesis, time series modeling, VaR predictions etc. Given that you are a commerce graduate just like me, you won't have much of those skills. Additionally, why the IBs ask for IIT grads is that they bring with them their Excel-VBA skills and are really useful in CDO structuring and risk management as I see in my company. We don't bring those tools with us. Do we? So forget about the quant stuff.....develop sector expertise and move vertically once you are an analyst or get those quant skills and use them in a way that forwards your career being in your own field.
Hope that helps.
0000000000000000000000000
@Ketan
I am yet to understand the difference between the two from coverage perspective. It looks like some twist of names and courses here and there. Both focus at Investments and markets. I am sure both courses use the same ICFAI material with minor cosmetic changes.
I feel ICFAI is trying to create legal pathways for itself to manage the court cases and onslaught from ICFA taking or making good use of legislative provisions and Indian legal structure along with UGC recognition (2f) of Uttaranchal and Tripura universities.
It sure will create confusion with employers and students.
@ tumtum bhai
would you suggest somebodyt o pursue cfa along with mba...
what are the prospcts for someone who has completed ms in finance/cfa from icfai along with an mba in banking...what kind of openings can oen expect to get with this kind of a background...
cheers
Successful completion of 9 groups of the program leads to
award of MS (Finance) degree from the Icfai University, Dehradun, besides
membership in CCFA under the revised guidelines
You get CFA charter after kappa and then if you clear remaining groups, you will get Ms finance.
About CCFA loosing case, as per ICFAI , regular trial has yet to begin and i dont know how much time it will take. March 26 is a hearing in delhi high court. I am thinking to attend it
Seriously, dont think too much. Send them one more email: If CCFA looses case, then what will happen?
Babu.
I f you read some of my previous posts, then I have mentioned that junior analysts get paid around 6lpa but do really dirty work of maintaining pitch books in captives. Trust me as I say this but I wouldnt do it even if I was paid twice that amount!
Quantitative analysis has a lot to do with probability, testing of hypothesis, time series modeling, VaR predictions etc. Given that you are a commerce graduate just like me, you won't have much of those skills. Additionally, why the IBs ask for IIT grads is that they bring with them their Excel-VBA skills and are really useful in CDO structuring and risk management as I see in my company. We don't bring those tools with us. Do we? So forget about the quant stuff.....develop sector expertise and move vertically once you are an analyst or get those quant skills and use them in a way that forwards your career being in your own field.
Hope that helps.
Thank you. You cleared lot of doubts.
One more thing- What will be a vertical rise for an analyst. I assume analyst- Sr Analyst- Fund Manager- Equity strategist..... am i right?
Tumtum, can you give me a feedback about my career plan:
My single purpose of completing CFA from ICFAI is get an entry level position in KPO as a research analyst. I know, for sure, it will not be a higher end work and more of updating financial models and copying from databases. Over a period of time, i want to move in a general management role- something like heading research team doing copy paste work
, or client relationship or sales and marketing/project management. As i write this, i know i will always be a half baked analyst but once i move into general management role, that will be a front end position in the KPO organisation.You, being a KPO veteran knows much better then me. How tough/easy it is to move in general management role in KPO? For example- What is hierachy followed in Aranca ? Analyst- Sr analyst- Team Leader- manager-- something like that...
I appreciate the career guidance which you give on this thread as well as on other threads.
Babu
Thank you. You cleared lot of doubts.
One more thing- What will be a vertical rise for an analyst. I assume analyst- Sr Analyst- Fund Manager- Equity strategist..... am i right?
Tumtum, can you give me a feedback about my career plan:
My single purpose of completing CFA from ICFAI is get an entry level position in KPO as a research analyst. I know, for sure, it will not be a higher end work and more of updating financial models and copying from databases. Over a period of time, i want to move in a general management role- something like heading research team doing copy paste work, or client relationship or sales and marketing/project management. As i write this, i know i will always be a half baked analyst but once i move into general management role, that will be a front end position in the KPO organisation.
You, being a KPO veteran knows much better then me. How tough/easy it is to move in general management role in KPO? For example- What is hierachy followed in Aranca ? Analyst- Sr analyst- Team Leader- manager-- something like that...
I appreciate the career guidance which you give on this thread as well as on other threads.
Babu
Babu, General Management/Project mgmt roles where you manage teams, interact with clients are more of project and team management type of roles. Typically ppl rise aas MT/AM, Mgrs, Sr Mgrs, AGM/GM, AVP/VP to COO/President.
Typicaly large client accts are managed by GMs or AVP's. More of front end roles coordinated from on-site or onshore. They also help in transition of projects involving PM's. After that Ops managers take over.
Unless you are shifting from another organization horizontally vertical growth starts from MT/AM/Analyst levels to Sr. Analyst and so on.
Babu, General Management/Project mgmt roles where you manage teams, interact with clients are more of project and team management type of roles. Typically ppl rise aas MT/AM, Mgrs, Sr Mgrs, AGM/GM, AVP/VP to COO/President.
Typicaly large client accts are managed by GMs or AVP's. More of front end roles coordinated from on-site or onshore. They also help in transition of projects involving PM's. After that Ops managers take over.
Unless you are shifting from another organization horizontally vertical growth starts from MT/AM/Analyst levels to Sr. Analyst and so on.
Do u Guys know that there is going to be a hearing this month over the CFA, trade mark. I hope ICFAI wins.In ICFAI's website it is mentioned that they have won most of the arguments.I also Hope that the CFA bill is past.
Can some tell me watz the max paypackage a ms(fin) holder from ICFAI gets.
CFA(usa) is publishing adds very often in the newspapers. I feel no one is enrolling with icfai for ms(finance).
Babu.
I f you read some of my previous posts, then I have mentioned that junior analysts get paid around 6lpa but do really dirty work of maintaining pitch books in captives. Trust me as I say this but I wouldnt do it even if I was paid twice that amount!
Quantitative analysis has a lot to do with probability, testing of hypothesis, time series modeling, VaR predictions etc. Given that you are a commerce graduate just like me, you won't have much of those skills. Additionally, why the IBs ask for IIT grads is that they bring with them their Excel-VBA skills and are really useful in CDO structuring and risk management as I see in my company. We don't bring those tools with us. Do we? So forget about the quant stuff.....develop sector expertise and move vertically once you are an analyst or get those quant skills and use them in a way that forwards your career being in your own field.
Hope that helps.
hi tumtum,
I have comp ADF after all this mess i want to know wat are the job prospects for ms(finance).CFA(USA) is getting very popular though its a lot easier than CFA(ICFAI).
DO u think the CCFA bill will be passed?, Becoz it seems impossible. the gvt wouldn't like to be in this legal mess.
Since ur working wats the quality of work and the avg sal a company pays for CFA(ICFAI).
ALSO CIIA on its website doesn't have any job posting, how come?
Hello,
Can someone please tell, what are the job packages after CFA(ICFAI) and CFA(AIMR) in India? Also , even after the case is won by icfai , will the Cfa from US be valid in India??
Please help me make the decision, I am an engineer with no backgroung for finance.
Thanks
ankigupta
Hello,
Can someone please tell, what are the job packages after CFA(ICFAI) and CFA(AIMR) in India? Also , even after the case is won by icfai , will the Cfa from US be valid in India??
Please help me make the decision, I am an engineer with no backgroung for finance.
Thanks
ankigupta
Hi Ankit!
The question you have asked is pretty specific I must say. Frankly speaking I am an ICFAI CFA (no MBA) but the package I earn is at par (or even better than) most of the A Class b-schools in India atleast (albeit with the Grace of God and my parents blessings coupled with my hardwork). But then I also have a good 3 years of work-ex under my belt.
However I don't think this can be the case for everybody. After a certain time, it is more of your soft skills and work related knowledge which will improve your pay and perks. The first aim should be to get in a good profile and I can bet my heart and my soul on it that ICFAI CFA is truly a brand that all IBs do recognize. Even if ICFAI loses the case, I dont see much risk in it because of the fact that you also get a masters degree alongside.
Hope that clears your doubts my friend.
what is better
1) CFA ICFAI or
2) MS(finance) ICFAI
1) CFA ICFAI or
2) MS(finance) ICFAI
If you can do Ms finance then It is better
and if you can do CFA Then that is better
they both are the same thing,, If you are doing Ms finance then you are also going for CFA,,
ICFAI has three level for MS finance,,
after clearing Ist level you will be given DBF(Diploma in Business Finance)
After Clearing the second level you are granted the CFA charter,, and after clearing the All three level you will be provided MS finance degree
hope it is clear 😃
ya its clear.
thanks
hi guys..i came onto the posts page and saw this thread for the ICFAI members..trust me felt realy realy good and the reason is similer to wht tumtum had to say bout icfai..i too have a similar yet different story tat i think all those ppl shud read who have ever been in or wil ever be in a doubt with regards to this course..
i completed my 12th and got admission into a top insti for BMS in mumbai..a course higly regarded as TIME CONSUMIN and difficult..however i somehow felt differently and decided to do somethin alongside and started huntin for different options in the courses available..thought of the american CFA, ICFAI, CA, CS and everythin else that came under the sphere of finance..these wre my findings back then
1. the international CFA can be dun only after completion of graduation which makes us effectively waste r time whil graduatin..tho it is said BMS is a very strenous course, havin dun it from one if the best insti in mumbai i can safely say its NOT and i managed it wit my CFA alfa,beta..etc right upto kappa (6 levels) gettin above 70% in cfa exams and a distinction in my final year BMS..tht itself shud say a lot
2. for ppl who are confused between finance and marketin and other options, which most of us are post 12th when we are jus embarkin upon these fields, havin to wait for classroom subjects to give you an insight of wht the field holds is an absolute waste of time..since while ure PONDERIN on wht field to choose, some1 else has already experimented and is on the fast track much quicker than you..ICFAI lets you understand wht finance is bout by starting off with the basics in finance and slowly moving onto such intricacies that one stands out in a crowd adequately equipped with the relevant financial sense.
3. unlike the international CFA, the ICFAI CFA has 18 subjects spread over 9 levels and each level has only 2 subjects with 2 papers on each subject..studyin only those 2 subjects for 3 continuous months from a 800 odd page text book will definately leave a student more educated. the american CFA on the other hand has 6 odd subjects repeated in all 3 levels with all of them compressed in 2 papers per level.
4. more relevant subjects lik portfolio mgmt, M&A;'s,mutual funds, investment banking, derivatives, currencies etc are coveed so much more in depth here.
5. the methodology of testin is such that in the 1st level is in the 1st 3 exams u have only mcq based papers whereas after level 1 you are tested on sums, long answers, case studies which pertain to the current economy and mcqs as well. unlike wht is believed, the ICFAI doesnt only pertain to India but continously updates itself with teh current world economy like the yuan devalution tat took place sometime back, the current mortagage scenario in the USA and worldwide etc.
i can go on and on but i think by now everyone who was in two minds about this course wud have got a heads on with its content. but how has all this helped me?
i decided to go against the market trend and so a course which was highly rebuked by most of the "intellectual" peers i had. it took me 2.5 years to complete this course and i started wrkin while doin my level 2 with one of india's best brokerage houses and upcoming investment bank wher i worked as a trader in derivatives...who gets that kinda job at my age? a fresh grad?? but i did n the reason was simple..i had an interview wher i was completely in control and was able to answer all the questions tht wre thrown at me bout derivatives, futures, options, beta concepts, world markets etc whereas my other peers most of whom had decided to wait for the american CFA and all of whom had at some point or the other ridiculed my choice wre unfor not taken in..this is wher i climbed my 1st step.
at my wrk place also i was told i was wastin my time and yet i continued to unwaveredly pursue my belief in this course wrkin till bout 11 and then returnin home and studyin til 3 am in the mornin. today i have somehow managed to finish this tedious task and completed my CFA and changed jobs workin with one of the world's largest banks as an analyst gettin a hefty pay pacakage..and my age..21!!!!
see guys the point of this whole long msg is to make one thing very clear to ul..let no1 tell u wht to do and wht not to do..at the same time so ure research very well before u decide and once decided no matter what..NEVER LEAVE ANYTHING MIDWAY!!what u think doesnt have scope today might actually help u develop a personality which makes others want you for their profiles..if you leave it midway not only have u wasted time..but ul also be a loser whose lost out on opportunities and u will never know whther that did have value or not..EVERYTHING in this world has a value if u creat it for ureslf and nothin ever goes waste!!..success is not an absolute term and cannot be defined by ppl who themselves have been afraid to experiment..it ia a relative term and u can define it for urself and maybe for others by settin an example..this course in a while will get its due recognition as MNC's have begun to realise with passing interviews that the course has substance and you could be a pioneer in settin the ball rolling!
thanks