Engineers–considering cfa or financial engineering salary

ncial Engineering? | Salary.sg - Your Salary in Singapore
12/17/12

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Engineers – considering CFA or
Financial Engineering? ‫ﺑﻪ ﺗﺎرﻧﻤﺎی ﻓﺮاﺧﻮاﻧﺪه ﺷﺪه اﻣﻜﺎن ﭘﺬﯾﺮ ﻧﻤ‬
.‫ﺑﺎﺷﺪ‬
.‫ﺑﺎﺷﺪ‬

‫دﺳﺘﺮﺳ‬
‫ﺑﻪ ﺗﺎرﻧﻤﺎی ﻓﺮاﺧﻮاﻧﺪه ﺷﺪه اﻣﻜﺎن ﭘﺬﯾﺮ ﻧﻤ‬


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Engineers – considering CFA or Financial Engineering?
May 10th, 2007

‫ﺑﻪ ﺗﺎرﻧﻤﺎی ﻓﺮاﺧﻮاﻧﺪه ﺷﺪه اﻣﻜﺎن ﭘﺬﯾﺮ ﻧﻤ‬


I know of many engineers who regretted not getting the right career advice when they were in school. (What’s “right” is subjective, of course.)
Envious of the high income that an investment banker can fetch, some of these engineers decided to take up courses or certifications that hopefully
will give them a chance to enter the lucrative finance sector.
Their options include:
Getting CFA charter. This can be done through self study, but it takes a fair bit of effort. The catch is that in order to get the charter title, you
gotta accumulate a few years of relevant experience. There are people who deliberately became financial consultants (i.e. insurance agents)
just to earn the CFA title. The interesting point here is that even working as a financial adviser/consultant counts as relevant.
Getting a financial engineering degree from NUS or NTU. You need to pay school fees, attend classes, do projects, homework, etc. It can be
quite challenging.
BUT, does it help to do all this?
If you’re studying just to gain worldly knowledge of finance, then you’re fine. I salute you.
But more likely, you’re in this game because you want to get a job that pays well, at least reasonably better than your miserable engineer pay. If
that’s what you want, then chances are you will be disappointed.
Don’t believe me? The next time you attend a preview session for such a course, ask questions.
Ask important questions, like “will I get a good job that pays well after I graduate?”, “can you show me statistics on the before-and-after salaries of
your graduates?” and “how many of your graduates have gone on to be associates with a bulge bracket investment bank?”
You’d be lucky if the presenter advises you not to expect too much. He could’ve said, “you might need to take a pay cut…”
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103 Responses to “Engineers – considering CFA or
Financial Engineering?”

12/17/12

1.
Mid-career switch to banking and finance? | Salary.sg - Your Salary in Singapore Says:
May 20th, 2007 at 3:54 pm

[...] numbers in an investment bank? Hoping for more money and big bonuses coming your way? Are you an engineer thinking of doing some
finance courses (CFA, MFE, CMFAS, IFPAS, [...]
2.
Collin Says:
February 11th, 2008 at 12:00 am

Hi,
Is a person without any working experience and degree able to take the CFA Level 1 exams?
Thanks.
3.
admin Says:
February 11th, 2008 at 7:52 pm

Collin, yes. In fact, you can take all 3 levels but will only receive the charter status after you have accumulated the relevant experience.
4.
Collin Says:

Oh, I thought that degree or relevant working experience is needed in order to ENROLL for the exams?
5.
admin Says:

Collin, I interpreted your question as “whether both working experience AND degree are needed”. Yes, a degree is needed.
Seems there’s also a requirement on “professional conduct”. See:
http://www.cfainstitute.org/cfaprog...
6.
govind Says:
April 1st, 2008 at 3:25 am

Hello,
Thanks for the above information.
I am engineer with work experience of 2.5+ yrs into IT industry.Currently i am working into IT department as software programmer into USA
based Financial company.Should i take CFA, if yes then what would be carrer path ahead and starting Salary package.
Thanks in advance.
7.
Tequila Says:
April 27th, 2008 at 12:25 am

Dear all, the world is populated with CFAs and MBAs… getting the right network and staying lucky is so much more important
8.
Jack Says:
June 27th, 2008 at 6:20 am

Engineers make more on average than finance majors tho. An engineer just have to be good at what he/she does, a CFA has to be lucky as
well(and trust me, a credit crunch is not lucky time). Citi just cut 10% of their investment banking department(and need I say more about
bearstern?), so right now u have a crap load of experienced finance ppl out there looking for a job, just be happy as an engineer lol. Plus an
investment banker works 80 hr weeks(so in term of hrly wages it isn’t anymore than a senior engineer). A lot of companies right now are
saying they can’t find enough engineers even though the economy isn’t so hot right now.
Btw, I thought u need either a degree or some experience to be able to qualify for CFA exam? Cos that’s what it says on their website.
www.salary.sg/2007/engineers-considering-cfa-or-financial-engineering/

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12/17/12

9.
Collin Says:
June 28th, 2008 at 12:59 pm

Jack,
Just to clarify doubts on CFA exams.
One would only need to produce his Degree or 4 years qualified working experience for Level 2 paper. So for Level 1, any dog cat also can
go take.
10.
GRanjan Says:
July 13th, 2008 at 11:48 pm

I am an engineer havign trained in One Year General Managament Programme from a reputed management Institute. I have about 15-16 yrs
workign experience in Manufactuing ,Project Engineering & Planning and at presently looking after the Busines Planning job in a
SBU.Presently I am workign as a middle level manager and want to develop myself for taking up senerior busines leadership position in
Corporate Strategy .Please give your view whether CFA will be helpful for me .
11.
XOXO Says:
July 17th, 2008 at 2:21 am

i passed CFA level 1 and want to go back to school for either a MBA or a MS in financial engineering. i wonder if the combination of CFA +
MBA is better than the CFA + MS in financial engineering. any advice??
12.
Collin Says:
July 17th, 2008 at 9:40 am

I would think that CFA and MS in Financial Engineering would be slightly correlated. Hence, going for MBA would be a better bet. But of
course the institution plays a part too.
13.
xoxo Says:
July 18th, 2008 at 10:49 am

Hi Collin,
Thanks so much for the advice. what do you think of Baruch College? is it considered a good school to go for a MBA? have you heard of a
major named Decision Sciences? what do you think of it? Thanks!!
14.
Collin Says:
July 18th, 2008 at 12:30 pm

Hi xoxo,
Sorry I have not much clue about the college.
15.
damion spencer Says:
November 28th, 2008 at 3:31 am

Hey i am university graudate with a Bsc in Banking and Finance, and i am thinking about doing a CFA,MBa or a Msc in economics. I really
would like to know what is my best bet.
16.
Tequila Says:
December 6th, 2008 at 5:56 pm

I attended a talk by Jim Rogers… he advised to study and buy everything related to commodities as usual !!! And his usual preach on China
and Taiwan… After seeing what the Fed and US Treasury are doing, I think he’s right to certain extent…
hence my opinion, if I were u, is to do everything related to commodities in China… this crisis will set up a different playing field and
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12/17/12

17.
Prashanth Cherukuri Says:
January 24th, 2009 at 6:26 am

Hi Collin
I am an engineer with 5 years experience, and am looking towards a career shift to finance. I have registered for the June 2009 Level 1 exam.
Assuming I clear alll three levels, what do you think are the chances of an engineer breaking into Finance? This will be after 3-4 years, so lets
assume the economy is ok by then. Also, do you know of anyone who has successfully traversed this path
thanks
18.
5m10y Says:

Prashanth, I know 2 persons who have cleared all levels. They are analysts now (used to be in IT).
19.
Koho Says:
February 1st, 2009 at 10:31 pm

Hi all,
I have just passed my Level I Dec 2008. I also from engineering with 10 years experience. Anyone know any career opportunity in Singapore
for this background? I read many ads, while they need CFA, they also need many other stuff.
Thanks.
20.
Pui Says:

Hi
I did my MBA in finance last year and now I wanna pursue CFA. I am currently into developing infa projects and am also involved with
project costing and financing of these infra projects…will this work ex be considered eligible for earning the Charter?
I am askin this because I saw a list of job profiles considered to be eligible for the charter on the CFA website however the profile related to
my job isn’t listed there.
I am not into securities, insurance field as of now
21.
Pui Says:

sorry…what I meant in the above mail is currently by job involves developing infrastructure projects
22.
Concerned Says:
May 9th, 2009 at 3:47 am

hey there,
i would like to know wat the major difference is b/w a CFA qualified and an M.S in financial engineering (lets say from Columbia). Who is
better paid and to what extent r these 2 courses similar or dissimilar, as the case maybe.
regards
23.
mfe Says:
May 9th, 2009 at 11:43 am

cfa is a self-study certification well regarded in asset management industry (at least used to be).
mfe is a degree program that you can do part-time or full-time. it will get you into quantitative finance (or computational finance) roles, which
are related to trading in the capital markets, eg you assist traders by churning out useful spreadsheets. very different from asset management.

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12/17/12

more brain power and less soft skills needed.
just my 2 cents.
24.
Byong Says:
August 26th, 2009 at 6:26 pm

I cleared Level 1 on 2nd attempt.
Failed Twice in Level 2.
This year taking a stress break…. maybe try next year.
Background: Bsc Engineering (NTU)
Joined Army 96-2003
Joined IFA: 2003-present
CFA is seriously tough without studying time of 3-4 hours a week. I took lessons at Cuppage Centre but still fail… cos I missed 60% of it :p
CFA is a very wide designation. You should think about your job scope: does it need CFA?
Having a CFA does not guarantee you a job… Industry experience is needed.
25.
vg Says:
September 22nd, 2009 at 1:38 am

Hi,
I am an IT engineer and have 2 yrs of experience in a US based financial company. I have cleared l2 CFA in this june. I m looking for a
switch in finance domain. Could someone please advice as to what profile will I be able to get and avg salary pckg?
26.
Justin Wu Says:
October 18th, 2009 at 7:52 pm

There are m,any areas in finance and banking. If you are keen in the treasury, quantitative risk management and derivatives, then financial
engineering training is vital. However, if you are keen in analysing financial statements, the business of companies, equity / bond analysis, then a
CFA is more relevant. In financial engineering, you will capitlise on computing and advanced probability and statistical methods to solve
problem (without possibly understanding the business of the corporates that you are analysing). So it all depends on which area of banking
you prefer…
27.
OT Says:
January 11th, 2010 at 12:46 pm

the key qns is – do u really have interest to be in the Banking/Finance sector? or do you want to be there just for the pay, the glamour etc? If
it is the later, then i advise – don’t bother. The pay is higher, extremely high – but the hours are long, u won’t get to see daylight for most of
the time. And I tell u it is not glamourous at all. A lot of ppl obviously don’t have interest and are just there for the money. Try mgt consulting,
try sales try auditing if u want the $$$. The crisis told one big story – the bankin industry needs grounded ppl who know the stuff, are morally
decent. Not some engineers who thought they are smart and thought they should earn more money than their peers because they have better
analytical skills etc. The world is not fair and will nv be….wake up guys….CFA will give u more opportunties but is definitely not a passport
into your rich glamrous dream…those ppl in the industry will tell u….How many CFA do u see in Spore? If u have worked 5 to 8 yrs in
another industry, my advice is don’t bother…u are probably in ur 30s….be prepared to take a pay cut and have super bright rocket scientists
sitting on top on u tellin u “U are the most stupid person I have ever seen in my life….”
28.
Sheena Says:

I am in my second year of engineering. I was told i can give the 1st two levels before i graduate. Is it possible to do engineering and cfa at the
same time? or am i putting too much onto my plate?
29.

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12/17/12

Adviser Says:

hi sheena, it depends on ur ability, apitude etc…..suggest u find out the content of Level 1 materials first…alot of ppl are overly ambitious,
thinking it is easy to pass…but i tell u it is definitely not as easy as what alot of ppl think. Then again there are ppl who went through the 3
levels without failing once…..look at the materials and u will have a better gauge….to put in plainly, no one knows how big your plate is
except urself….right?
30.
Junaid Noor Says:

I am electronic engineer what is right for me if i do CFA
31.
Sheena Says:

I know. Its just i couldnt find anyone known to me who did both at the same time. Hence i was just curious. I went through the subject..il be
taking coaching classes and starting from level zero. So i just wanted to know if its as easy as those choaching classes potrayed them to be.
32.
CFA_Aspirant Says:

Prashanth Cherukuri,
Did you managed to get thru. Pls share your experience
33.
Avatar Chen Says:
January 31st, 2010 at 3:18 pm

Dear all,
By way of introduction, I am a CFA holder and have passed all three levels at one try.
I am now organizing a CFA level 1 Revision Workshop to help candidates to pass the CFA level 1 exam.
There will be about 10 students at each workshop and it will be conducted by myself and my PhD friend (who is also a CFA level 2
candidate holder)
The workshop fee is relatively affordable $320 per month for 8 hours and will commence on 1 March 2010 and will last till 1 June 2010.
There will be mock exam provided too.
If you are interested, please email to avataraccountancy@gmail.com.
Regards
Avatar Chen
34.
Saqib Says:
February 1st, 2010 at 10:52 pm

Hi to all.
I did my engineering in Computer & information system & now a day doing networking job in ISP and also studying MBA (Finance and risk
management) kindly suggest is it suitable for me more specifically for Engineers to go for CFA ????
35.
Simple as ABC! Says:
February 3rd, 2010 at 4:28 am

If you’ve been in the Engineering line for > 5 years or 30+, it is very difficult to switch to Finance unless you have a special skillset. The best
bet would be to do a Masters in Finance or possibly an MBA in a top school not NTU/NUS/SMU plz!! Possibly an US/European school. A
CFA is not that useful for career switching to finance due to lack of networking and career placement services.

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12/17/12

In the end, CFA, MBA or MFE are no magic wands. You still need luck, aptitude, passion and hardwork to get into finance and a good
paying job. I say unless you’re passionate about the finance industry, don’t waste time/energy. Stick to your core
strengths(engineering/IT/etc..) and build on it.
My background:
Engineer for 2+ years. MBA. Finance for 3+ years. Doing CFA now..
Good luck!
36.
Adhi Says:

Hi everyone! I am a final year student in NTU. I have just cleared the CFA L1 exam in December 2009. However, I am restricted to register
to L2 exam in June because the status of my bachelor’s degree is still in progress (expected graduation June 2010). Does anyone know how
can I update my education so that I can register with my current status?
Thanks
-Adhi
37.
LL Says:
May 17th, 2010 at 8:00 am

A CFA/MBA/MFE/Masters-of-whatever is not a ticket to finance at all.. Its simply contacts, some good friend on a trading floor kind enough
to help you send a CV across to a hiring operations manager will clinch you that job. Go out there to know pple, if you do a masters make
sure the class are filled with market practitioners and not fresh graduates/similar aspiring engineers/teachers/ITguys. And when you go for the
classes, dun stick with your guys (it is very hard to try and get into our circle as we discriminate as well). Best bet is still an MFE, will launch
you to get a job in product control, valuations, risk reporting and sometimes if you are lucky a front office job but that is usually seldom the
case – the FO part is also 60% luck 30% connections 9% character and 1% competence.
38.
hire78sg Says:
May 26th, 2010 at 6:24 am

Hi,
Its quite demoralising reading some of the comments out there with regards to engineers who has worked in engineering for 6 years and
seeking a financial career switch. I am currently doing my Masters of Finance from RMIT. I dont mind a pay cut as long i can get into the
financial sector. At the moment my interests have changed from engineering to finance after dabbling with stocks. I like to do valuation and
financial statement analysis of companies.
By the way, I am willing to reward a 1 month salary to any kind soul who can give me a successful job recommendation and entry into any
position (non-insurance) of a banking or finance company.
39.
hire78sg Says:
May 26th, 2010 at 6:26 am

please email me at hire78sg@gmail.com
40.
suresh Says:
July 21st, 2010 at 12:42 pm

hello..
I am planning to do Quantitative finance course. I am confused about univ.
pls suggest
NUS ( univ of singapore ) , NTU
US univs
UK univs
41.

7/21

12/17/12

cqf Says:
July 21st, 2010 at 1:25 pm

if you a motivated self-learner, check out the 6-month part-time cqf course. it has the reputation of being challengingly rigorous and is highly
regarded around the world.
http://www.wilmott.com/cqf.cfm
don’t take my word for it. search the quantnet and wilmott discussion forums for more info.
42.
killerspray Says:

Hi,
I want to pursue Msc quantitative/compuational finance / financial mathematics. I just wanted to know my chances of getting an admit.
I must admit that I got either awful grades or did not take relevant courses ( for instance , No Probability,statistics or linear algebra).
But now, I think I am good at most of them ( probability,calculus,PDE,Stochastic calculus,Linear algebra, decent knowledge in derivatives) –
all through self
study.
I know top notch univs are not for me..Just that I want to know which universities in US, UK, Singapore(NUS/NTU) should I aim for?
Also, is there anything that I should do to convey my proficiency in specified math courses as they appear shady on grade sheet?
I know CMU,Berk kind of things are out.. How abt lse,warwick,edinburgh,caas,rutgers,cornel,nus .. or any other
Will they just look at grade sheet or will they filter thru interviews or math tests? Will Math GRE test help?
Can anyone throw some light on Msc.Quantitative finance at NUS & career prospects later
My profile:
Work exp – 7 years in high end software development – Java,C++ ( No financial exposure)
Btech – mechanical engineering IIT madras 2003
CGPA – 7.27 ( A = 9,B=8,C=7,D=6)
Grades in relevant courses:
Elements of Calculus -D
Vectors, Matrices, Differential equations – C
Physics 1 & 2 – B
Engineering mechanics – A
Fluid mechanics – B
NUmerical analysis – C
Special functions and PDE – B
Complex analysis – D
Dynamics of machinary – A
Heat transfer, Turbomachines -B
43.
cqf Says:

since you are good, you should just take the cqf. it will open up doors for you. if you are really good, you should have no problems getting
recommendations and job offers.
but if you aren’t good, it’ll be a waste of your time and money.
44.
Sachin Says:
August 25th, 2010 at 2:34 am

Hi,

8/21

12/17/12

I am Computer Engineering Graduate with 2+ years
experience in a Financial Services Company I am into developing web based applications in the banking domain and planning to give CFA
LEVEL1.Will my work experience be considered relevant for CFA?
45.
cfa Says:

answer is yes, Sachin.
46.
Sachin Says:

Yhanks!!.I have no prior Knowledge of finance.Can anybody tell from where to start;)?
47.
Funny Indian Says:

don’t understand why so many indians are interest to do finance in singapore. Why not stay in India?
48.
killerspray Says:

Question isn’t about staying in India.
India doesn’t have quant schools.
49.
Sachin Says:

Buddy I am not thinking of leaving India or studying Finance in singapore its just I cam across the forum
and thought I would get some useful info.I am thinking of doing Cfa by staying in India only
50.
hippocrates Says:

sachin:
are you ashamed to admit that you want to leave leave india and study/work in singapore. funny indian may be funny but he is an idiot if he
cannot figure out why indians want to work/live abroad.
u want money and funnyIndian is a typical smartass who thinks he is smarter than he really is.
51.
Funny Indian Says:

sachin: there are tonnes of CFA information available on india forums. Stop deluding yourself when you say you have no intention of coming to
Singapore to get a job like your thousands of Indian counterparts.
Killerspray: Quant sch? Don’t make me laugh. You just want a job here. Another hypocrite..
You guys don’t get it, do you? You are not welcome in Singapore anymore. Why waste your time in this forum?
52.
Sachin Says:

Thanks for your valuable suggestion Funny Indian..you Enjoy yourself in Singapore..nt interested in coming there
53.

9/21

12/17/12

happydoc Says:

Ignore the funny Indian
We are open to foreign talents.
There are always people who blame the govt for importing foreign talents instead of improving themselves.
I have seen a few in the medical field where they lament us from taking up training positions.
Singapore is a meritocracy so if a foreigner is better than you, then obviously the position should be his/her.
Why should it be given to a local?
54.
killerspray Says:

@Funny Inida..
Don’t make me puke with ur heights of stupidity!
Ahem!.
Seems, this uncouth illiterate idiot just venting out his frustration for being unemployed for so long – Not my problem sod head.. It’s just that
you aren’t employable. so let people live their friggin darn lives. Singapore ain’t ur dad kid’s world
Don’t just blabber what ever gets to ur freaking mouth.. instead try reason out what ppl are talking here.. Just list a single quant school in
India.. I ll give my ass to u.
BTW, No more words for u unless u make any sense..
55.
fool Says:

>Singapore is a meritocracy so if a foreigner is better than you, then obviously the position should be his/her.
the problem is with the “birth right” that the local boys are demanding. there are always 2 sides to every argument. i tend to empathize with
them.
just an extreme example to set you thinking: if you find a lady who’s a better mum than your own mother, why don’t you disown your mother
and go with that lady?
besides birth right, there’re issues of loyalty, service, fairness and “fall back”. foreigners can always escape back to their home countries in
times of crisis – a fall back – but where can the local boys go?
if a country doesn’t give citizens a sense of belonging and a certain privilege, what good is the country?
56.
Funny India Says:

@ killerspray
Let’s hope you don’t choke in your own puke. But seems more likely you will choke on your ignorance first.
Mechanical engineer doing software development and now you wanna pursue the sexier finance? What really makes sense is that you are too
old to switch and your attitude won’t get you anywhere. Forget Singapore, you are better off in India.
And guys, I’m not local, not an Indian and I’m happily employed. You guys really excellent in making assumptions. I’m just surprised there
are so many Indians writing nonsenses in a Singapore salaried-related forum. It’s no wonder local are pissed.
57.
happydoc Says:

A non Indian using the nickname Funny India?
What is your hidden agenda to make comments on us?
58.

10/21

12/17/12

Funny Indian Says:

@happydoc
Why should you care? Aren’t you an happy doctor who rallied the everyone to ignore me?
59.
killerspray Says:

He’s just a brain drained, trodden deep down some unending abyss, pissed and unhappy soul. Most of these kind are super active in this
virtual world while being big time losers in real life leading the life of bumpkins – This is the only way they can live their dreamed life which they
can’t even dream of living it real.
@Funny Indian
I wish you don’t fix noose around your neck some day! I really sense it. Grow up, get involved in some mind cleansing jobs
FYI – I’m 28 yr old & don’t think too old to get to grad school.. What ever it is, trust this – ‘Knowledge is good’. It does good things in life.
Best wishes to other aspirants! Ignore the chunks of this kind you come across
60.
killerspray Says:

@fool.
Very true..
61.
Unsure Says:
September 12th, 2010 at 2:43 pm

Would a CFA or Masters in quantitative finance/financial engineering be a better investment if i’m not sure whether i will pursue a career
within global markets/treasury/private wealth advisory?
Thanks in advance.
62.
To Unsure Says:

I think hardwork is good enuff if u aint aiming for the sky
63.
jv Says:
November 26th, 2010 at 4:15 pm

Why do people leave interesting jobs as Engineers and want to come to Finance? Finance(w/o mathematical modelling) is very very boring.
CFA is useless exam, MFE is interesting but is worth if you hold a PhD in numerical discipline to get you real good jobs. Else remain
wherever you are.
64.
Yup Says:

Engineers are respected in countries like Germany, US and Japan. In Singapore they are way underpaid and more importantly not
respected…
65.
to JV Says:
November 27th, 2010 at 12:57 am

why do you say that cfa is a useless exam?

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12/17/12

66.
Bankguy Says:

CFA is not useless. Banks in general have strong branding, plus the pay tends to be slightly higher than engineering. So they attract people.
But what non-finance people don’t realise is how boring non-front office jobs are. The work in finance is not so interesting/fufiling if you do
not hold an investment decision making role. i.e. trading/fund management/investment research etc.
67.
interest in money Says:

well, i guess people are pragmatic. Pay takes a precedence over interest and fulfillment.
68.
CFA_LEVEL1 Says:
December 14th, 2010 at 9:34 am

Dear Friends,
I am an Electronica and Telecommunication Engineer with 7 years of work experience in IT.
i have always worked on Financial Application including:1.National Stock Exchange of India – Client Site – 2 years
2.ABN AMRO BANK Nederlands – Onsite as 3.Business Analyst – 2 years
GERMAN STOCK EXCHNAGE – Onsite – 6 months
AMERICAN LEADING BANK – Onsite USA -2 years
I am planning to go back to India and before i do that i want to appear for CFA Level 1 exam and plan to cash it in India,along with work
experience. I would like to continue working as a Business Analyst.
Can anyone of you advice me if I’ll be able to sell “CFA Level1″. ( As I am sure that I do not want to leave IT anyways)
69.
To Mr IT going back to India Says:
December 14th, 2010 at 10:06 pm

I don’t really think u need a cfa for that cuz it’s rather broad although if you know how the products work, it will be easier/faster for you to
come up with financial applications. therefore your employer saves costs in the long run!!!
70.
AC Says:
December 22nd, 2010 at 1:25 am

I was an engineer for 15 yrs, no degree, self studied CFA (without taking exam), save up, trade financial index as hobby. Guess what, now
I’m a full time trader trading solely my own account, with financial institution tried to head hunt me becoz of my track records. Maybe we shld
try think out of the box, why not work for urself instead of the usual “look for a job”
71.
DP Says:
December 22nd, 2010 at 10:12 am

Hi AC,
I’ve been quite interested in being a trader, but could you kindly advise what’s the kind of income that we can expect from this?
Rgds
72.
To AC Says:
December 22nd, 2010 at 7:23 pm

Unless u have a huge trading capital to start with, I think most profitable full-time traders’ monthly profits (and this is already a tiny minority in
the trading population) are probably only enough to sustain themselves, but not enough to support an entire family plus a car. Full time traders
also lose out on employer’s CPF contribution. Just playing the devil’s advocate here.

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12/17/12

73.
AC Says:

the US institution offered to me 6 digits annual plus bonus. Trillions change hand daily in the global market, how much one can take from it
depends on his capital and skills.
74.
DP Says:

Wow, but what if say for a slightly above-average trader with a capital of S$100k, how much income can one look forward to? rgds
75.
To wannabetraders Says:

around 20% per annum on average. if they tell u it’s more and it’s sustainable over the long run, it’s bullshit.
76.
DP Says:

Oh i see, that means to earn a decent income, i need to amass quite a substantial sum of capital b4 i can go into trading. Thanks
77.
bs Says:
December 23rd, 2010 at 12:24 am

i think even 20% is bs. if it’s so easy, why don’t Temasek Holdings and GIC simply hire traders like yourself to make $1 billion out of every
$5 billion capital? why even bother to invest in companies in other countries like indonesia and get screwed?
78.
DP Says:

Haha, although i know nothing about trading, I think I’d still like to pass a comment about the Temasek and GIC, esp. the former. They
appear as amazingly naive and ‘undiligent’ investors who buy on hearsay than do actual due diligence which would have shed light on those
worthless US banks and some ABC Learning Centre whose value seemed to have dissipated within a short period of time. And thereafter,
sell some of our national jewels to make up the losses while other countries go on protectionist mode, expropriating foreign investments.
79.
bs Says:

how do you know they have not done due diligence? it’s run by the smartest people money can hire in the country, so it must be good.
80.
to bs Says:
December 23rd, 2010 at 10:16 pm

hmmm…big macs taste good so they must be good……..
81.
Myself Says:
December 31st, 2010 at 1:23 pm

I have got 10yrs of exp in IT , and the last 6 yrs into Investment Banking IT. Graduate in Mechanical Engg( Industrial Engg Specialisation).
My aim is to get into IT Business Analysis or into Finance. What Course I should take? Please advise.
82.
DP Says:
January 2nd, 2011 at 1:03 am

Hi

13/21

12/17/12

Think you can take the CFA first and then maybe the CMFAS? Can check out the following
http://www.ibf.org.sg/exam/faq.asp
Since u work in a bank, can chk with your banking colleagues?
rgds
83.
To Myself Says:
January 2nd, 2011 at 9:04 am

You don’t sound like you spent the last 6 years in an IB..granted it’s the tech dept. To get into IT business analysis or into “Finance”,you
probably can try an internal transfer within your bank.
84.
happygolucky Says:
January 21st, 2011 at 6:09 am

pretty good article on the state of financial engg.
http://www.quantnet.com/state-of-fi...
http://pages.stern.nyu.edu/~jhasbro...
85.
Trader wannabe Says:

Hi AC,
Can you share more on the trading, do you have a blog or website?
86.
GSK Says:
May 17th, 2011 at 1:07 pm

Hi,
I am considering a switch to finance by taking the CFA at FTMSGlobal Academy soon. See details: http://www.ftmsglobal.com/courses/i...
With the upheavel in financial industry settling, how do you see the prospects for someone with CFA in about 3 years time?
87.
Advice Says:
May 17th, 2011 at 1:13 pm

You might need to take a pay cut. (you didn’t read the article?)
Nowadays even undergrads are taking CFA to get a headstart.
88.
Shyam Says:
July 16th, 2011 at 12:29 am

I’m an MBA marketing and finance graduate having four years experience in salse and business developement ( Banking and rating industry). i
would like to get into core finance job and please let me know whether quantitative finance can help me in getting my dream fulfilled?
89.
Arvind Says:

Hi,
I am an Engineer with around 2 yrs of Exp in IT industry.
Can anybodt tell me what would be my career path if i go for CFA?

14/21

12/17/12

90.
Bank guy Says:

Hi guys, a CFA is still very useful and gives you credibility in banking & finance. However, it is more suited for investment advisory/ research
roles, not much for other roles such as sales, dealing, or back office etc. If you stop using the knowledge you learned, you’ll forget the CFA
contents quickly.
Studying for CFA is a very, very big commitment and takes up a lot of your time. Most people do not pass the exams in straight three years.
Furthermore, you will only earn the title AFTER you have accumulated 4 years of relevant investment decision-making work experience (and
passing the 3 levels of exams). If you do not have that relevant work experience, you will not qualify to put the 3 letters behind your name.
Because it’s not easy, employers recognise and respect someone with a CFA and you will very likely to be employed.
Having said all that, if you have money, in my opinion, it would be most efficient to pursue a Masters/MBA as you can complete it much faster
and get a job in banking & finance.
91.
Arvind Says:

Hi,
Currently i am working in an IT company in testing domain. Will this be considered as relevent experiance for CFA?
92.
CFA Says:

Hi Arvind
http://www.cfainstitute.org/about/m...
To be recommended for regular membership you must have completed four years (48 months) of qualifying work experience in activities that
consist to a majority extent of:
Evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or
similar investments, which includes, but is not limited to, publicly traded and privately placed stocks, bonds, and mortgages and their
derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these other
investment assets are held as part of a diversified, securities-oriented investment portfolio; or
Supervising, directly or indirectly, persons who practice such activities; or
Teaching such activities.
At least 50 percent of your work experience must be:
Directly involved in the investment decision-making process
Engaged in responsibilities and/or producing a work product that informs or adds value to that process
Part-time positions do not qualify.
Managing your own investments does not qualify.
93.
Arvind Says:

Thanks for the valuable reply.
Currently m studying for level 1 exam. Even if i clear all the levels, my experience will not get counted as per the above criteria.
Could you please suggest me the solution on this if possible?
94.
to arvind Says:

Simple. Dun take the exam.
95.
Ram Says:


15/21

12/17/12

Pls advice me…..I’m local diploma graduate in engineering….have 2+ years experience, if i study finance or bussiness courses in private
universities such as uniSIM,Kaplan, is possible to get finance or banking jobs?……….
96.
hany Says:

I’m an engineer, I’m about to persue CFA level one; however, I’m little worried about about this may impact my engineering carrier. I’m an
industrial engineer working for 3 years now, isn’t understanding finance through CFA a previlage to enpower my career?
97.
manu Says:

i am a b.tech (ece) fresher and want to go for further studies specially for CFA. so help me if it is a right decesion to take?
98.
manu Says:

i am a b.tech (ece) fresher and want to go for further studies specially for CFA from american institute. so help me if it is a right decesion to
take?
99.
Relationship Says:
October 29th, 2011 at 9:30 am

Banking is all about relationship and network, so many banking, financial, business degree out there etc… Why think that by getting CFA will
get you a jobs in banking. If you want to get into banking, personally think that by starting from part time job in a banking sector will help.
From there proof your worth and create opportunity. Be prepare to work from morning to night…..Please do not think that the pay will be
good, only some position are… and limited.
100.
charter Says:
January 22nd, 2012 at 3:52 pm

m doing engineering in it branch,can i do cfa
pallaraly..
give me suugesion..
thank u
101.
Awais Says:

Hi,
I am Telecom Engnr and hve work exp of 4 years, currently I am acting as Operational Manager for Feild services and part of my job deals
with Cost Optimization for field expenses and Invoicing for to take money from Customer
Does CFA or Msc Financial Engg can help me out to gain key strategic position in Telecom Culture
P.S i dont want to go in Banking Line by doing CFA
102.
paul Says:

I am a BTech (ECE) engineer. got 2.2 years or exp in IT. Is CFA a good option for me? I want to be in finance dept n IT for headstart and
then financial analyst. please suggest as i am feeling like an ocean to decide
103.
Arjun Says:

Hi,
I am Polymer Engg from India. I have 2 yrs of work ex in my own field.

12/17/12

Things were smooth until last year, when i met with an accident. I sustained a spinal injury and have been paraplegic ever since.
Needless to say, I cant work on site any more and am currently job hunting. Doing MBA in finance was always in d pipeline but now online
certifications like CFA and FRM seem like a very good option.
Could you please advise/help me in weighing my options.
“P.S. : All i need is to improve my skill-set in order to secure a wheel chair friendly Job or Work from home option.”
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