<p>The statistics about the CFA are impressive. Salaries are well into the 6 figures. Basically, my question if this is only because people from HYPS who are already in big Wall Street jobs get this career. Can someone at an entry level finance job who earns a CFA except to make 6 figures after a few years of work experience if they attended an average university. </p>
<p>Basically I am asking this question because, like everyone else here, I am trying to plan my future. I am a freshman, thinking about majoring in financial economics; however, I go to a pretty average state school (Binghamton). I'm guessing an Econ degree from my school will not let me get my foot in the door for a lucrative job in finance. If I passed the CFA while working some entry level job, could I feel confident that I would get a job making good money (which is 85k+ IMO) after a few years of work experience? </p>
<p>No one can “earn” a CFA at an entry level finance job. There are people who have taken and passed all 3 levels of the CFA exams but they can’t really use the CFA designation unless it is accompanied by 4 years of qualified work experience. The qualified work experience is hard to achieve at an entry level job. You can look up what is acceptable as qualified work experience here.</p>
<p>How do people usually get these 6 figure jobs? The easiest way is through campus recruiting at targeted MBA schools or undergrads from Wharton and HYPS.</p>
<p>There are some smaller market firms who also recruit from other schools but you’ll have to do some research to seek them out or ask your campus career office.</p>
<p>Do a lot of people pass all three exams and still have trouble getting the kind of work experience necessary to become chartered? After doing some research online, it seems like there are plenty of CFAs that don’t come from HYPS Wharton Etc. I just wonder what kind of money they are making. </p>
<p>My goals are not to be making 200k. I really just want to make like 120K once I hit around 25 years of work experience so I can give my kids the same things I had. I am still having trouble determining if getting a CFA would be a viable option for someone like me.</p>
<p>If you want a career in asset management or equity research (“investments”), a CFA is basically required. It used to be that if you had a CFA, you could pretty much get any job in those areas. But now, if you have the charter, it’s not that special anymore but if you don’t, you’re at a huge disadvantage. It’s becoming like what the MBA has already become.</p>
<p>The average ivy kid is not your competition for the jobs you’re talking about, those are not jobs they chase. I think if you’re a good student you’ll have no trouble though it will probably take more than 4 years to get the required work experience.</p>
<p>But aim for $200K, we are about to enter a major inflationary period, it will cost you that to give what your parent’s gave you on $120K!</p>
<p>What type of job does the “average ivy kid” go for other than investment banking? Personally, I’m looking into asset management and I’m wondering what kind of competition I’ll be facing.</p>
<p>Yes. There are a ton of people who are in that situation. You can get more information here.
[CFA</a> exam, CAIA exam, FRM exam discussion for Chartered Financial Analyst candidates](<a href=“http://www.analystforum.com/]CFA”>http://www.analystforum.com/)</p>
<p>There are many industries that employ CFA’s. Investment management and equity research are two of the most difficult careers to break into. These are the areas where you will compete with Ivy kids and top MBA graduates. It will be more competitive from now on since there are less jobs in IB for top grads to chase after.</p>