Company is sinking ship. Look for new job now or keep studying CFA1?

13 posts / 0 new
Last post
blackomen's picture

I have good reason to believe my company is going under and i could be let go soon. Coworkers have been laid off and the company shut down a few of its funds. Things look very bleak.

I have more than enough money for over a year in living expenses even w/o ui compensation.

Ive already invested a lot of time preparing for the cfa 1 in june before things started going sour.

Is it reasonable to put off looking for another job until after the exam in june? Im afraid if i do both I may fail at both.

Never underestimate the power of having a thick skin.

Take the BAT 24/7 from home and connect with thousands of finance employers looking to hire!
itera's picture

I would study. It’s only 40 days now, and free govt money is pretty generous and will help a lot

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

mygos's picture

Agree with itercom..it is just a matter of 40 days and afte 3rd June you will have little better credential than what you have now. However I don’t think you need to entirely put off looking for another job. Ensure ( and listen to your heart that is already making you feel ) that the Level 1 is your ‘top’ priority till 3rd June and reserve some time , may be a few hours, say 3-4 hours , every week till third week of May for exploring new avenues. This will also make you feel better due to whatever developments take place in your search while tackling L1 preparation. Since you are mentally prepared for the eventuality try to ensure that the departure (if it has to be  now) is not between 20th May and 3rd June so that the peak mental disturbance is not nearer to the exam (assuming it is somewhat under your control!). Hope everything goes well till 3rd June. Best of luck. .

blackomen's picture

On top of that, the boss is handing me twice the usual work these days specifically because another employee needs to take time off to study for the CFA (the exact words out of his mouth.)  I’ve resorted to taking sick days off to study (using the exhaustion from the extra work as an excuse.)

Never underestimate the power of having a thick skin.

itera's picture

Didn’t you tell him you need to study for the CFA exam?

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

blackomen's picture

Ignored, says it’s useless (his exact words.)  My intuition says he deems the CFA will improve my employability and my chances of leaving the firm, leaving it to “sink” further.

Never underestimate the power of having a thick skin.

itera's picture

Whaaat.. terrible boss. doesn’t give a damn about you.

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

cleverCFA's picture

blackomen wrote:

Ignored, says it’s useless (his exact words.)  My intuition says he deems the CFA will improve my employability and my chances of leaving the firm, leaving it to “sink” further.

Ouch, talk about demoralizing your workforce.  

I’m taking a lot of time off studying at the moment preparing for interviews, writing cover letters, etc.  It really sucks.  It’s difficult to avoid good opportunities though.  I would keep my eye on the market, but only go for jobs that look awesome, avoid the rest and keep focused as mush as possible on this exam. 

bchad's picture

So you are assigned tasks for another employee who is studying for the CFA, but are told that the CFA is not a reason that you can take any time off.  I guess it’s not too hard to figure out why the ship is sinking. 

You want a quote?  Haven’t I written enough already???

guest's picture

bchadwick wrote:

So you are assigned tasks for another employee who is studying for the CFA, but are told that the CFA is not a reason that you can take any time off.  I guess it’s not too hard to figure out why the ship is sinking. 

sounds like they’re going to keep the other employer and give the original poster the heave ho.

———————————————– Trust God and keep your powder dry ———————————————– Southern by the grace of God

blackomen's picture

Some updates:

My boss says I may be entitled to 10% of the profits if the latest project we’ve worked on is successful (I can’t give any concrete details since it’s confidential but we won’t know mid next year and it’s potential payoff is likely in the low Millions.)

Nothing’s in writing; my gut feeling is that this is his last ditch effort to “save” the company and he doesn’t want his plans derailed if I were to leave.  And I’d certainly jump ship at the first better opportunity offered to me (coming from someone making only $40K/yr with a Masters in Financial Engineering.)

What do you think?

Never underestimate the power of having a thick skin.

econgirl's picture

Find another job, hands down. Anyone that doesn’t encourage education isn’t looking long-term.

If they really say they need you consult to them part time for three times what you make now.

blackomen's picture

Right now I’m just taking my sweet time with that project..  since it seems they can’t find anyone to replace me at that wage and/or work faster and I’ll probably be let go when it’s finished.

Never underestimate the power of having a thick skin.

Subscribe toComments for "Company is sinking ship. Look for new job now or keep st...