Time to let go of CFA- Good bye friends

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vicky_cool400's picture

Guys i am leaving CFA level 3 for now.  really no scope now in India with my background and exprience.. I have made my decision. Good luck to al of you for the support in level 1 and level 2 . Best of Luck to all of you.

  I will complete level 3 someday but right now it doesnt seem it willl give me fruits.

Giving Up Does’nt Mean You Are Weak. Sometimes It Means That You Are Strong Enough To Let Go
It takes courage to finally realize that all that you are doing is setting yourself up to be hurt every single day, It takes strength to finally make that decision to let go it’s not a sign of weakness to give up on something that will never happen again. I know what the consequences will be once I have made that decision, What I don’t know if I am strong enough to let go and face the pain and sorrow of my decision. But I also know that the longer I postpone it the harder it will be,

I’m in so such turmoil over the most painful decision I have to make, but I know it’s time to let go.

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preppie's picture

so long, my friend, and G’luck.

The Righteous Hacksaw's picture

Good luck.  Revisit level 3 when you get the rest of your ducks in a line.  Youll do well.  

No Homo

confused2010's picture

nautanki saala :)

seriously why don’t you consider try with one of the many prep providers that have set up shop in the recent past. You may not get a job of your choice immediately given the bad job market. This could keep you going till you get a better job.

You have time til the deadline for level III registration. keep the hunt on and take a call in a few months time.

Good luck.

pupdawg82's picture

Why there is no scope for CFA in India? Isn’t number in test takers jumped exponentially in recent past due to candidates from India, China and over all Asia? You would think that chartholders are in demand there and hence increase in test takers…


itera's picture

replace “pikachu” with “CFA exam”

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

dudesama's picture

Best of luck !

MAY THE FREE MARKET FORCES BE WITH YOU

Babsfrey's picture

All the best….

Aether's picture

Good luck in your future endeavors, buddy.

NANA Hachiko's picture

It’s interesting how CFA candidates have so much passions and emotions toward the program.

it is only an education program (i wouldn’t even call it a professional program since many people can be charterholder and not be a professional anything), don’t dwell too much into it, and yes, giving up is not a bad thing because there are so much more in life you can do!

Anyway, good luck with all your endeavours, and i am sure someone will work for you! ^_^

no name's picture

NANA Hachiko wrote:

it is only an education program (i wouldn’t even call it a professional program since many people can be charterholder and not be a professional anything), don’t dwell too much into it, and yes, giving up is not a bad thing because there are so much more in life you can do!

like dating NANA

Trying to help

sooraj's picture

pupdawg82 wrote:

Why there is no scope for CFA in India? Isn’t number in test takers jumped exponentially in recent past due to candidates from India, China and over all Asia? You would think that chartholders are in demand there and hence increase in test takers…

Yes charterholders are in demand.. But you become a charterholder only if you have experience right? During 2004-2007 anybody who cleared these exams were given a job. Now thats NOT the case.

Good luck Vicy!

Best regards,

Sooraj.

confused2010's picture

Job market is bad . It is tough for those who have passed all three levels but do not have the requisite experience. however there are those who have passed all levels and have experience but chose not to enrich the CFAI coffers. Thye simple state they have passed all three levels and are considered equivalent to charter holders.

gringo_bob's picture

Good luck Vicki

Don’t think of it as quitting, think of it more as taking a break from the programme and focusing your time on other endeavours.

If you did L1 Dec - L2 June on the bounce I’m sure you’ll be fine to pick up L3 at a later date.

I have to say, I’m going to miss your posts in the build up to the 2014 exam.  Your ‘Oh my god, I’ve only done 3 full read throughs, 6 million qbank questions and 36 full mocks, i’m so going to fail’ posts made me smile.  I’m not taking the piss, I genuinely liked your posts for level 2.

confused2010's picture

I have a feeling Vicky will be back and  will register for Level III.

Digitalrebel's picture

My experience - when i took up the CFA i had decided only to do Level 1 & 2 and leave Level 3 till a suitable time. At the time i took up the course i was working as buy-side Corporate Treasury Manager in India and I could apply learnings of level 1 & 2 to my work. Level 3 was 50% Portfolio management and had very little direct relevance to my job as India market buy-side fixed income is quite under-developed. However once I switched jobs and started managing a US fixed income investment portfolio out of India i saw that the Level 3 curriculum was exteremely relevant even though i was on the buy-side. So if you are on sell-side in India or buy-side US focussed portfolio then the qualification makes sense.

I think you can try and start working in sell-side India and then take up and complete your level 3. You have crossed the hard part i.e. Level 2, so you can comeback anytime in future to complete it. My litmus test was that if you do not use or refer to the curriculum every day after you pass the exam, then you easily forget what you studied and the qualification is not really worth all the effort and personal sacrifice one puts in to pass the exam.  

RobRoy's picture

If the job market is crap in India, try out other places, Singapore, Hong Kong, many cities in Europe.

Best of luck with your career, I had hoped we battled out Level 3 together since I think we passed Level 1 & 2 with arif and in the same timeframe.

panos.kollias's picture

Vicky don’t break the momentum :) You will obviously pass level 3 and you’ll get to say that you passed all levels at the minimum possible time frame! Furthermore it’s always better to get rid of hurdles early. You never know where you might end up and whether you’ll have the same energy and time.

Good luck whatever your final decision is.

"We're talking about a man who's satisfied Maris - something that's still on my 'to do' list."

The Righteous Hacksaw's picture

Listen, his choice is the right one at least for the time being.  He needs to focus on getting a job in finance now.  He can spend the next 6 months doing only that and then start level 3 if it makes sense then. 

No Homo

NANA Hachiko's picture

panos.kollias wrote:

Vicky don’t break the momentum :) You will obviously pass level 3 and you’ll get to say that you passed all levels at the minimum possible time frame! Furthermore it’s always better to get rid of hurdles early. You never know where you might end up and whether you’ll have the same energy and time.

Good luck whatever your final decision is.

I disagree, there are many people who come back after taking a break and there is no shame or disadvantage - GIVEN HER SITUATION.

if you are not fully committed and enthusiastic about the program, it’s highly unlikely you will be motivated to study and do well on the exam, so yes, it SEEMS LIKE it’s just another exam, big deal, just write it and move on, but as a L2 passer yourself, it’s not JUST one exam is it? What if she tries L3 and fails, then she is obligated to retake it, while being burnt out.. and it’s just a vicious circle!

The Righteous Hacksaw's picture

There is a lot of momentum to be built up between levels 1 and 2 due to the overlap of valuation and financial statement analysis.  

But there is way less in common with level 3.  The level 3 curriculum is much different and forgetting what you learned in levels 1-2 won’t matter.  I have no idea what the free cash flow formula is.  I can’t even remember the inventory turnover ratio off the top of my head. M

No Homo

lakhpat's picture

I am from India and I can understand your suituation. I guess you are from non commerce background, so I am making this statement. 

First remember you will never get any proper core job immediately. You need to try through another way. Join a multinational company in their corporate finance/ treasury/ audit. Once you prove your mettel, you can always ask the company to move you to another department.

Most of the people in India want to join service sector, give a try in manufacturing sector also. Trust me, you will learn a lot. Try any company that gives experience in accounting knowledge, grom there you can easily move to any financial institution. If possible move to southern states, there are lots of oppurtunities.

pokhim's picture

laters

JACT's picture

Same line of thought…as a stepping stone you can look at places like Bloomberg, FactSet, CapIQ etc.  I know a lot of people who have used it as a bridge.  You will get transferable skills and I know the work experience will qualify you for the charter.

Anyway good luck to you.  Followed a lot of your posts before.  You definitely seem to have dedicated a lot of time, emotion and mental bandwidth to the program so far and if you deploy those resources elsewhere you may get a good break.

december4thplease's picture

NANA Hachiko wrote:

It’s interesting how CFA candidates have so much passions and emotions toward the program.

it is only an education program (i wouldn’t even call it a professional program since many people can be charterholder and not be a professional anything), don’t dwell too much into it, and yes, giving up is not a bad thing because there are so much more in life you can do!

Anyway, good luck with all your endeavours, and i am sure someone will work for you! ^_^

Is four years of work experience in a related investment field not “professional?” Maybe you dont have to be professional anything to pass all three exams, but to hold the charter, you most certainly do.

NANA Hachiko's picture

december4thplease wrote:

NANA Hachiko wrote:

It’s interesting how CFA candidates have so much passions and emotions toward the program.

it is only an education program (i wouldn’t even call it a professional program since many people can be charterholder and not be a professional anything), don’t dwell too much into it, and yes, giving up is not a bad thing because there are so much more in life you can do!

Anyway, good luck with all your endeavours, and i am sure someone will work for you! ^_^

Is four years of work experience in a related investment field not “professional?” Maybe you dont have to be professional anything to pass all three exams, but to hold the charter, you most certainly do.

Well that’s kind of my point, let’s say you want to be a doctor, you need to study WHILE apprenticing at a hospital, and being an accountant you have to be sponsored by an audit firm… for the CFA program, there is no such concrete programs where once you have completed your studies you are qualified to be a “professional”.

Even if you accumulate sufficient hours to meet the work experience requirement set by CFAI, honestly speaking, how many people, and how many of those hours, are truly related to the program to be called professional hours?

I’d say less than 50%?

pupdawg82's picture

^ Program itself is too tough and if they start approving membership for only those who are currently working in relevant fields, CFA charter would lose it’s appeal. They have to little flexible on that and hence they have added Accountant, Software Developer etc in valid title or experience.

itera's picture

pupdawg82 wrote:

^ Program itself is too tough and if they start approving membership for only those who are currently working in relevant fields, CFA charter would lose it’s appeal. They have to little flexible on that and hence they have added Accountant, Software Developer etc in valid title or experience.

Exactly, and too much revenue given up. you can’t limit the Charter to specific fields.

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

lxwarr30's picture

itera wrote:

replace “pikachu” with “CFA exam”

I just decided that Itera is the best troll I’ve seen in a long time.

vicky_cool400's picture

I will give exam now after getting job. My employer will reimburse fees if i pass

Delete this thread moderator

Gordon Gecko's picture

Vicki, this is like the 3rd thread in which you’ve stated you were leaving the exam and/or the forum. For the love of god, please stop this nonsense, this is a study board not a f*cking help line.

80’s style

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