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Does CFA helps in Consulting in terms of getting the interview or performing at the job?

CFA MBB
New answer on Jan 31, 2024
9 Answers
2.3 k Views
Anonymous A asked on Jun 19, 2020

Thanks a lot in advance.

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Anonymous replied on Jun 20, 2020

Hi,

It doesn't help you get the interview.

It can be helpful at the job as you would need some finance knowledge to solve the business/client problem. But you don't need the level 3 proficiency. Level 1 should cover enough finance knowledge required for the job in most cases.

Best,

Emily

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Anonymous A on Jun 20, 2020

Thanks

Cristian
Expert
Content Creator
replied on Jan 31, 2024
#1 rated MBB & McKinsey Coach

Hi there!

A CFA helps make your profile more attractive to recruiters, so it can contribute to you passing screening. But it's by no means a must. 

Similarly, a CFA can give you the sort of knowledge that will make you an asset for engagements that have a strong finance component. And yet, very few of the consultants that I've worked with actually had a CFA. 

In short, it helps, but it's not critical. 

Best,
Cristian

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Luca
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replied on Jun 20, 2020
BCG |NASA | SDA Bocconi & Cattolica partner | GMAT expert 780/800 score | 200+ students coached

Hello,

It does not help in getting an interview but it can help a lot at the beginning of your experience, especially if you don't have a business background.

Best;
Luca

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Anonymous A on Jun 20, 2020

Thanks

Francesco
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replied on Jun 20, 2020
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

I agree with Emily. It won’t help you to get a job. However, you will get finance knowledge that may be useful during the job.

If you want to maximize your chances to get a job and perform well I would invest time in the following, besides case and fit preparation:

  • Find a good referral (useful to get the interview)
  • Master Excel (useful to perform well in Analyst/Associate tasks)
  • Improve Soft Skills related to people management (useful to grow in the company)

Best,

Francesco

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Anonymous A on Jun 20, 2020

Thanks.

Udayan
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Content Creator
updated an answer on Jun 20, 2020
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

Hi,

It does not really help with getting an interview. What it can do is cement your strengths in financial analysis - so if you are applying for a specialist consulting role where financial analysis is key to success then it would be a good thing to have. Majority of roles do not have this requirement.

You still ideally have to go to a target school and get the required GPA etc.

In terms of job performance - there are some advantages here especially when it comes to reading financial statements and performing financial analyses which does come up from time to time

Best.

Udayan

(edited)

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Anonymous A on Jun 20, 2020

Thanks

Ian
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Content Creator
replied on Jun 21, 2020
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

If your objective is consulting, the CFA is worth neither your time nor money. Use this time/money to build up consulting-related skillsets.

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Anonymous A on Jun 21, 2020

Thanks what are some of the consulting related skills I can build?

Robert
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replied on Jun 20, 2020
McKinsey offers w/o final round interviews - 100% risk-free - 10+ years MBB coaching experience - Multiple book author

Hi Anonymous,

For getting the interview: No, not really - it could be a small plus if you are borderline for being invited to interviews, but the effort of obtaining the CFA title is in no relation to the small advantage you might gain (if you have your CFA already, great, it does not hurt either).

Concerning performing at the job - it helps if you are focused on financial industry, because you are familiar with many core topics covered in the CFA . Apart from that, I don't see a big gain.

Hope that helps - if so, please be so kind and give it a thumbs-up with the green upvote button below!

Robert

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Anonymous A on Jun 20, 2020

Thanks

Axel
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Content Creator
replied on Jun 20, 2020
Bain Consultant | Interviewer for 3 years at Bain |Passionate about coaching |I will make you a case interview Rockstar

Hi,

I do not think it is a very big differentiator in terms of getting an interview especially if you do not already fulfill the existing criteria (target school, impressive academics, solid work experience, etc.).

On the job, having some more extensive training in financial analysis can sure only be helpful but again I do not think its a huge differentiator compared to other skills required to be successful in consulting.

-A

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Anonymous A on Jun 20, 2020

Thanks

Clara
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Content Creator
replied on Jun 23, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

I think it helps in the CV screening part, since holding a CFA indicates many good attributes in a candidate.

In the interview itself, not really, unless is a very financial case and you can leverage some knowledge.

Hope it helps!

Cheers,

Clara

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Anonymous A on Jun 23, 2020

Thanks.

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