Students with CFA at IIM Ahmedabad

In a batch of 400 at IIM Ahmedabad, 30+ (approx.) have cleared CFA L1. These include both engineers and non-engineers. In order to understand the relevance of CFA at institutes like the top IIMs of India, I asked a couple of questions to two students - an engineer (referred as E) and a non-engineer (referred as NE).

Question - Do you think clearing CFA L1 increases one's chances of getting into IIMs?

E: Now-a-days, many students clear CFA L1 and it has become common in IIM-A and IIM-C, but I think in the rest of the IIMs it can still provide a competitive edge to students, especially the engineers who wish to get into finance.

NE: It provides a good proof of interest if one wants to get into finance after joining an IIM, so even though it may not get you a shortlist, it becomes a talking point for the interview.

Question - What kind of questions are asked if one mentions CFA during an IIM interview?

E: Apart from the obvious questions on finance, a lot of emphasis is laid on the understanding of the industry and macroeconomic trends.

NE: If you have a background in commerce, basic questions on finance and accountancy can follow upon mentioning CFA.

Question - Which shortlists can one expect in placements if one has cleared CFA L1?

E: It is competitive at IIM-A, but if the other elements of the profile are good, especially the academic scores, one can expect finance shortlists despite being an engineer.

NE: Finance shortlists like Investment Banking (IB), Markets, Private Equity (PE) are the common ones one can fetch by clearing CFA L1.

Question - How long does it take to prepare for CFA L1?

E: Three months at most at self-pace.

NE: For commerce students, it should take a month at most, for others maybe 45 days.

Question - Is coaching required for CFA L1?

E: No, most students self-prepare.

NE: No, it is easy to clear L1.

Question - How many hours are required per day?

E: 1-2 hours daily if you have 3 months at your disposal.

NE: 3-4 hours are enough for one month.

Question - Which material did you use and where to get it from?

E: Schweser, it is readily available.

NE: Schweser, one can get it from Amazon.

(This post was requested by a GEM through the Non-Engineers Facebook Page)