UK
Is there any point in acquiring a CFA, an MSc, or an MBA in this market?
18 May 2009
Last week we hosted a roundtable for Chinese financial services professionals in London. 30+ Chinese bankers were given the opportunity to ask a combination of headhunters, bank recruiters, and banker(s) about their careers.
Of all the questions asked, one had a particular resonance – is there any point in boosting your qualifications right now?
The answer, overwhelmingly, was not really. In this market, the general verdict was that experience counts for a lot more than qualifications. The sheer quantity of people studying for qualifications like the MSc will have a deflationary impact on its value, according to the head of recruitment at one firm.
Separately, MBA openings are likely to be slim this year - banks already have more than enough experienced analysts to convert into associates.
And what about the CFA? A record 128,000 investment professionals have enrolled for CFA exams in 2009, up 14% on 2008. Is the qualification now necessary, but not sufficient, if you want to work in fund management?
Let us know what you think below. Are qualifications really worth the money - and the time?
If we have a glut of bankers who understand risk, I say hurrah, though i think they 're missing a trick. They could try and MSc in Renewable Energy, not the same snobbishnish about schools and they're setting themselves up pretty well if a green boom hits which it might just when (if?) all the stimulus cash filters through
Cat 19 May 2009
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