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For one candidate, it's just another ticket in a field full of diplomas

Agnes Lam

Obtaining the qualification to be a chartered financial analyst is just another ticket in a field awash with diplomas, one candidate says.

'The CFA title used to be very precious, but now many people have this qualification in Hong Kong,' said banker Josephine Chan, 29. 'Though it is not necessary to take the examination before entering the field, the programme certainly helps newcomers join the profession.

'Older colleagues at work told me only a few were chartered financial analysts in the past. But now nearly all of them have such qualifications.'

Ms Chan, who now works in bonds, has just passed the first level of the CFA.

'I do not have high hopes about this programme. I just think it will make my resume look more impressive,' she said.

'Newspapers always focus on how much money financial analysts make and how much in bonuses they get at the end of the year. But the fact is only a very small number of people enjoy wage packages of more than HK$1 million a year.'

Financial analysts also face keen competition from their counterparts in Singapore, as more investment banks prefer to set up offices in the Lion City.

She said that past year had been a good one for financial analysts, with many major investment banks competing for the best people.

'But these banks will keep looking for talent, and they will then replace those newly hired with better ones by sacking less competitive staff.'

Ms Chan said some of her former colleagues had received better offers even before they started working for a new investment bank.

'But I guess by the time I can obtain the CFA qualification, recession will probably hit the US. I will have a more difficult time finding jobs even with the new title - CFA - on my name card.'

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