To sign up or not to sign up

CFA Level II
#1

Hi all,

Never posted here before, but always found the forum to be helpful during my Level I studies. Hope someone can offer some advice. I passed level I in June and now I am trying to figure out if I should continue with the CFA exam (first sign up deadline today). Just some background - I am a CPA (accounting undergrad) and also have an MBA in finance. I work in PE/VC, so not a ton of public securities/public portfolio management/research/etc (but some and growing). I was always interested in the CFA and basically signed up for it to challenge myself and for personal satisfaction, not really to advance my career (but I guess it doesn’t hurt right?).

Studying for Level I was a bit overwhelming partially due to the amount of material and partially due to the fact that I crammed my studying in a 3 month window. I usually have better study habits, but I slacked off a bit for Level I. For some time now I couldn’t see myself getting back into the grind and putting that much time into it due to the mental fatigue and then questioning if I will even use this certification for my career. I really dont want to give up either, but I think the mental fatigue got to me a bit. I was just wondering if anyone felt this way after Level I or if anyone has any advice.

Thanks a ton.

#2

my honest take is that the mental toughness you will need at levels II and III are orders of magnitude beyond what was required at level I. that said, if you make the commitment, just accept it is going to suck, and will yourself through it…completing the program is doable.

#3

As one Kaplan proctor said, you have to ask the question “are you going to work in ER or AM”? The CFA is directly targeted for those roles. Outside of that, the CFA certificate is not immensely useful other than for continuing education.

#4

Although portfolio managers, research analysts and executives are the most popular careers, the wide variety of jobs available to CFAs contributes to such a large “other” category.

22% Portfolio Manager 16% Research Analyst 7% Chief Executive 6% Consultant 5% Corporate Financial Analyst 5% Financial Advisor 5% Relationship Managers, Sales, & Marketing 5% Risk Manager 4% Investment Banking Analyst 3% Manager of Managers 3% Accountant/Auditor 3% Strategist 3% Trader 1% Broker 1% Performance Measurement Specialist 1% Private Banker

#5

Sign up.

Heads you win, tails you tie.

#6

If you are genuinely interested and have the time and desire then I say go for it! I would emphasize the “genuinely interested” portion of that statement because, like you said, your current field may or may not utilize that information and you already have an MBA therefore it could be argued that a CFA may not add as much value.

Bottom line: it’s up to you! Best of luck!