Roundly considered to be the most prestigious company of its kind, it has achieved a level of renown so great as to be known even to laymen, despite a decades-long commitment to confidentiality that causes the firm to shroud details of its work-and its client list-in secrecy. In its practice areas, it addresses strategic, organizational, operational and technological issues, always with a focus-according to the firm-of doing what is right for the client's business, not what is best for McKinsey's bottom line. As for the range of those specialties, the list of industrial sectors the firm serves encompasses everything from commodities and natural resources to the worlds of media, entertainment and high tech. While it doesn't give up the names of its clients, the firm does claim to serve roughly 90 of the top corporations worldwide and more than 80 of the largest U.
There is a common misconception that passing a CFA exam is a golden ticket to the world of finance, as if Johnny Depp will welcome you with open arms and give you are finance job for life. The good news is that the CFA program can help you break into the industry in asset management, equity researchand hedge funds.
The bad news is that there is a lot more you need to do than just passing the exams.
The CFA program really can help you break into finance, but you need to know the proper path to take. While the NYSSA agreed in principle to a professional rating, it would take over 20 years to iron out all the details of the program, which included creating a code of ethics and a standard body of knowledge.
Finally, in the first CFA exam took place. You can see the first exam on the CFA websitewhich was much that easier than the exams we see today. An interesting fact about that first exam was that most of the test takers were older than Obviously, things have changed over the years.
Retrieved November 26, from McKinsey Company website. Retrieved November 27, from Vault company profiles: McKinsey excerpt. Retrieved November 27, from Wetfeet company profiles: McKinsey excerpt. finan interv guide vault guide to finance interviews d. bhatawedekhar, dan jacobson, hussam hamadeh and the staff of vault. Collin Cole, McKinsey's vice president of experience design and a co-founder of Carbon12 Creative, talks about including people from backgrounds like design and technology to McKinsey's business consulting model and the signal McKinsey is sending about the important role of design in solving client challenges.
The number of candidates rose sixfold that first year, from to 1, and has continued to grow ever since. Today, there are more than 90, CFA charterholders worldwide. With that many people holding CFA charters, you can see how the CFA program has become such an important part in the world of finance.
Each exam needs to be passed to earn a CFA charter. In addition to passing the exams, though, certain work experience requirements must be met.
This last part is partly the reason why the CFA alone will not help you break into finance. However, you cannot register for Level 2 until you have completed your degree, negating the chance to take the December Level 1 exam followed by the June Level 2 exam during your senior year.
Passing the exams is no walk in the park either. The exam material is written such that it takes about hours of studying over six months per level to pass.
Further, it is a mathematical probability that you will most likely fail to pass one level. In short, the best part about the CFA program is when you finish.
I can firmly state that never have a glass of scotch and a cigar tasted so good in the history of the world as they did that day. The CFA program is no walk in the park, so make sure you are convinced that a career in investing is your passion.
There are many benefits to the CFA, but the main reason anyone goes through the program is to get paid more.
Various surveys indicate that CFA charterholders get paid more than non-charterholders. Look at the CFA program as a way to gain new knowledge and to advance your career. Think about it this way: If you take two identical job candidates, but one has completed the CFA and one has never even taken Level 1, the one who has gone through the CFA program has the edge.
In the world of Wall Street, you need any edge you can get.Glassdoor gives you an inside look at what it's like to work at McKinsey & Company, including salaries, reviews, office photos, and more.
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Collin Cole, McKinsey's vice president of experience design and a co-founder of Carbon12 Creative, talks about including people from backgrounds like design and technology to McKinsey's business consulting model and the signal McKinsey is sending about the important role of design in solving client challenges.
About McKinsey & Company Europe. McKinsey & Company is a privately-owned management consulting firm.