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Honestly, it’s a check box in a lot of shops, so doing it is probably the way to go. That being said, in my opinion, if you have an advanced technical degree e.g masters in econ or math, it likely won’t offer much marginal benefit.
This dude a 24 yo PM with no CFA?
*age
It depends on what area of investment management. Within the traditional asset classes (equity, fixed income), the CFA can be an important check mark for some senior level roles. But within the alternative asset classes (real estate, PE, commodities, fintech/crypto) it is not as applicable. For senior roles in those areas, an MBA (and/or CAIA in some cases) is more useful.
The CFA definitely helps if you want a career in investment management. But like everything it has an opportunity cost and it depends on what you want.
You’re going to need to apply for most roles. Would recommend you do it if you plan to stay on the buy side long term. Unless you are already at a great shop with room to grow already.
I agree with CRE Assoc 1. As a senior manager in buy side asset mgmt, I can say that it could make the difference between your resume making it through a filter or going in the bin. It isn't going to make you abetted manager but it does demonstrate discipline and commitment, more so than an MBA.