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Feb 4, 2010

 
 

When considering whether to pursue a credential such as a Chartered Financial Analyst (CFA) designation, the next question likely to come to mind
after "Will it upgrade my job prospects or compensation?" is, "Will what I learn improve my job performance?"

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  "reveals a patchwork of studies that don't uniformly and unequivocally show outperformance by charterholders,"
writes  

  in the January-February issue of 
, published by the 

  . However, "The studies finding that the
charter produces demonstrably superior job performance so far outnumber the ones that don¶t. This may be a preponderance of the evidence but not
clear and convincing evidence or proof beyond a reasonable doubt."

The question is more provocative than you might think. For one thing, the CFA Institute's own ethics rules specifically prohibit members from making
statements such as, "CFA charterholders achieve better performance results," or "As a CFA charterholder, I am the most qualified to manage client
investments." However, the institute is updating its Ñ

 



 and expects to publish a revised version later this year.

One reason conclusions on performance differ is that researchers didn't necessarily examine similar data sets or use similar performance criteria.
Studies focused on different fund types, time periods and countries, and varied in how they defined return, risk and other key measures.

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Out of 14 published research studies summarized in the article, nine concluded CFA holders outperformed their peers in terms of returns, volatility,
tracking error, or earnings estimates and three concluded CFA status is unrelated or negatively related to performance. (Three of those studies also
found MBA degree holders outperform managers without MBAs, while three others found MBA holders underperform.)

But it's not as simple as toting up numbers, the article notes. For instance, association isn't causation: if people who hold one or another credential
were smarter than their peers to start with, then you shouldn't expect to become a better investor or trader if you go on to acqire that credential.

 
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outperform but those managed by graduates of top MBA schools do, told CFA Magazine he nonetheless views the CFA charter as "very useful for
obtaining a career in finance." The%
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* in their earnings forecasts, said employers see the designation as a signal of knowledge and
commitment. And that, he said, is "very important for younger, less experienced professionals who want to enter or have just entered the investment
community.

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Jul 1, 2009

 
 

Do you ever feel pigeonholed when you're looking for a job? Make sure you're not pigeonholing yourself.

Some job-seekers paint their skills and experiences in identical language whenever they send out a resume or
go to an interview. But talk to a career specialist, and they'll tell you candidates who don't modify their
presentation to fit a specific employer's needs are shooting themselves in the foot.
"You should never lie, but you absolutely must re-position yourself. You have to say, 'What would be of most
interest to this employer?'" says , 
 , president of the 
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, a nationwide career
counseling network.

"You don't have to say everything you've done" in past jobs, Wendleton explains. "You just have to say those 

things that are most important to your target market."

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Career changers or recent graduates with little experience may feel it's dishonest to play up those parts of their background that relate to the role they
seek. Commenting on our story Cover Letters: Not Extinct, Just Evolved, one eFC user wrote: "How do you tailor yourself to the needs of the
employers if you have never done what they are looking for? That, I think, falls within the category of cheating."

Yes, misstating facts is unethical. But candidates still have ample scope to decide how to present themselves, and which features of their work history
and personality to put forward. For instance, it's perfectly legitimate to rephrase past job titles, as long as your wording reflects either the actual function
you performed or your level of responsibility. It's also legitimate to modify job descriptions, moving to the top those achievements or activities that relate
most closely to the specific role you're applying for.

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Being flexible about how you view yourself and present your qualifications is natural and healthy, says &
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, chief executive of &
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 /, an executive search firm focused on senior roles in finance, information technology and manufacturing. "Most people don't have deep, fixed ideas
about their careers," Gaines says. Especially if a candidate has limited experience, "You want to experiment, you want to explore, you want to see if
you can maybe find your sweet spot. There is nothing unethical about looking at your background fluidly«. Most people have the ability to perform
more than one type of role."

For example, Gaines says a back-office professional may demonstrate exceptional interpersonal skills suitable for client-facing roles. He's seen people
move from information technology to sales on the strength of how well they managed internal relationships. A background in product development or
marketing also can be a bridge to sales or relationship management.

Wendleton rattles off successful transitions by Five O'Clock Club members, including her own switch from technology specialist to counselor. When
making her move, she played up her one year of experience training people to use computers, and de-emphasized the technical side of her
background.

 
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Among the lessons she draws: "You have to use the jargon of your target market. That way, you're making it easier" for employers to see you in the
proper light.

One club member wanted to return to sports marketing, where he had a 15-year career before spending five years at a mortgage unit of *.
When he called sports marketing contacts, they were put off by seeing "mortgages" near the top of his resume, Wendleton says. The solution was to
place a "summary" section right below his name and address, in order to spotlight his sports background, and re-word his most recent job title and
description to emphasize his marketing skills and remove references to mortgages.

The summary began, "Fifteen years in the leisure / sporting goods industry." His last job title changed from "VP - Segment Director, Shelter Business"
to "VP - Business Director." The initial line of its new description read, "Ran a $4.6 billion business."

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"De-emphasize the specialty area, and emphasize the accomplishments," Wendleton also says.

For example, another club member had worked entirely in international divisions. At the time of his search, there were no job openings in international
within his target industry. So he purged his resume of the word "international." Still another member found her extensive background in sugar sales
came off as too narrow when she sought positions with bulk foods businesses. The problem disappeared after she changed her resume's mentions of
"sugar" to "bulk foods" - which was accurate, since sugar is a bulk food.

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