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Study hours ( months) to pass level 1 with finance academic background?

Hi everybody, 

I’m an 26 years old Italian and I’m planning to take the exam in June 2020. I studied in Italy both for my bachelor and master degree both in finance, graduated with the max score last year.  Basically, during my studies I’ve seen all the topics of level 1, except for ethical and professional standards. Currently I’m working in consulting, but I would like to change career and get into banking, private equity or investment funds. Do you have any advice for me? How long do you think I need to study to pass the exam? Am i doing the right choice startiing this long path?

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mancio wrote:

Hi everybody, 

I’m an 26 years old Italian and I’m planning to take the exam in June 2020. I studied in Italy both for my bachelor and master degree both in finance, graduated with the max score last year.  Basically, during my studies I’ve seen all the topics of level 1, except for ethical and professional standards. Currently I’m working in consulting, but I would like to change career and get into banking, private equity or investment funds. Do you have any advice for me? How long do you think I need to study to pass the exam? Am i doing the right choice startiing this long path?

1. Yes you are doing the right choice… 

2. Don’t know why would you move from consulting to banks? (though I am a banker and don’t like consultants :D) –> If you go, go for ISP or Unicredit!

3. Investment funds –> Go for Eurizon :D

4. You will need appx 300 h depending on your background, which I presume is pretty good so basically it would take less, especially given you are fresh out of college.

Thank you Toto_11 for your reply,

I’ll reply to each point: 

1: Great! I’m glad to hear that.

2: I want to change because on consulting the variety of the projects is too broad, but I want to focus on finance and investments. Moreover I think banking world can be more remunerative salary talking, am I right?

3: It would be cool but It’s not easy to get in, can the cfa be helpful to obtain and succeed the interview?

4: Nice to hear. So enrolling now to take the exam on june 2020, while working full time can be realistic, is it right?

1. One more thing to add - no charter/certificate whatsoever will ever give you golden ticket to sky high positions immediately, but, what is more important, it will lift you mentally and intellectually on levels where you will be well rounded and able to talk about finance on much higher level then an average person in a bank, for example.

2. I agree with what you said - consulting is about everything and about nothing; in banks 90% is about finance. Regarding the remuneration, i would consider it  very questionable (at least where i come from, consultants are far better paid then bankers, given they work in big 4). Investing is pretty strong nowadays in Italy, so working in Deals is always an option if you are in big 4 consultants, and you don’t necessarily have to move to a bank. 

3. back to nr. 1

4. It is very possible - I would be brave enough to say that at least 40% of people do it while full time employed, including myself. Hell, there are people with 2.5 children, who manage to do it.

I could talk about this all day, but: be determinate, be brave, organize yourself and what is most important be patient and commit your self to it if you are going to do it - nothing worthwhile comes easy and without dirt on itself..

Good luck and all the best!

Thank you for your messages you have been very clear, kind and exhaustive in your replies. 

Good luck and all the best!

mancio wrote:

Hi everybody, 

I’m an 26 years old Italian and I’m planning to take the exam in June 2020. I studied in Italy both for my bachelor and master degree both in finance, graduated with the max score last year.  Basically, during my studies I’ve seen all the topics of level 1, except for ethical and professional standards. Currently I’m working in consulting, but I would like to change career and get into banking, private equity or investment funds. Do you have any advice for me? How long do you think I need to study to pass the exam? Am i doing the right choice startiing this long path?

If your financial knowledge is similar to how Italy takes care of its finances, I’d say you should aim for a minimum of 1000hrs ;)

If you're the first out the door, that's not called panicking

laugh

yes