Hi guys and girls, I’m new to AA and have welcomed much advice for levels 1 and 2. Apologies for diverting the attention to myself here but I wanted to hear some views from you very smart people. I worked for a trade support role for two years straight after uni, left out of boredom and studied levels 1 and 2 on a full time basis. Since then I left england for australia and have worked since for the past few months after months of travel. I am now debating whether to leave my job in sydney (back office unfortunately) which I find very boring and study full time once again, insuring that I’ll pass the exam (if I can say that). So my question to you all is how many of you are thinking about leaving jobs (those who find theirs very boring) and to study this last exam on a full time basis? like I said, any help would be welcomed from people that are in the same boat thanks.
“how many of you are thinking about leaving jobs (those who find theirs very boring) and to study this last exam on a full time basis?” I would guess zero, or something close to that.
Hell no! The true satisfaction of passing CFA comes when you are juggling 10 things at a time.
Certainly not. At this point in most of our careers we are trying to accumulate marketable experience as well as credentials.
Dude, Forrest Gump could pass this test if he did nothing but study for six months…
swaptiongamma Wrote: ------------------------------------------------------- > Hell no! The true satisfaction of passing CFA > comes when you are juggling 10 things at a time. Right on. L3 is not easy, mind you, but to be w/o job in this economy?
CFA isn’t THAT important.
abacus Wrote: ------------------------------------------------------- > swaptiongamma Wrote: > -------------------------------------------------- > ----- > > Hell no! The true satisfaction of passing CFA > > comes when you are juggling 10 things at a > time. > > > Right on. L3 is not easy, mind you, but to be w/o > job in this economy? work experience means EVERYTHING. Companies are ATTRACTED to people WITH jobs who’ve credentialed themselves looking for a better job, not the unemployed. I think the logic is if you didnt get laid off in this market you are probably a decent employee so you’re worth hiring vs someone who did get laid fof. Its vicious LII candidate insight
Thanks for your insight guys, certainly something to ponder. Unfortunately this exam coincides with the end of my work visa in australia so its a question of exam or visa (ie working my nuts off in an attempt to get a work permit currently in a tough market). Your comments on credentials and marketability make perfect sense but with my current situation it’s a little complicated. I admire those who study on top of demanding jobs. I would like to say that the low pass rate is due to people not finding the time due to their jobs but during my full time study in london 75% of people in class failed the level 1 & it was a similar pass rate for level 2, so I don’t think the forest gump comment is totally valid. meeting with the manager is tomorrow, decisions decisions.
I’ve met ppl like this before… stop playing it safe and take some risks in your life…extend your comfort zone. I know another guy like you who has been studying for the 2010 level 1 since last june …I told him to man-up and write in dec…but he’s got no balls…have a feeling you’re the same type of dude.
a_thinking_ape Wrote: ------------------------------------------------------- > So my question to you all is how many of you are > thinking about leaving jobs (those who find theirs > very boring) and to study this last exam on a full > time basis? A friend of mine did that after Level I. He ended up not showing up for Level II because he felt underprepared and then couldn’t find a job for over a year. He became very discouraged and quit CFA program. Especially, in this job market I would not suggest quitting a job.
Also, giving up your job to study also places more pressure on you to pass - imagine being unemployed for a 4 months in order to study and then failing the exam? Talk about a waste of time.
Also, if you ever tell anyone that you quit your job to study for the CFA exam, I doubt that they will ever be able to take you seriously…
What everyone told you is correct. Resume reviewers may give someone a few points for the CFA but not enough for the massive hit you’re going to get for having gaps in your employment history. In fact, as someone who reviews resumes often, I believe the pattern is: Grad School/CFA while working = go-getter, committed to improving himself, good time management. Grad School/CFA instead of work history = professional student, doesn’t want to work, impractical. I bet I am not the only one who sees it this way.
I left my employer in mid March to study for Level 2. I knew I wanted to leave anyways and was already sending out resume’s etc. I also figured might as well leave a few months early to study and have a decent explanation reason for my gap in employment ( i.e why i left) I passed on first attempt. and even though it took me few more months than expected to find another job, like everything else in this world, things usually tend to work themselves out and I found the exact job I wanted to be in. Those other months after the exam i didnt find work i took 2 amazing trips (both on line of credit) which were trips i wouldnt be able to take now until retirement. Now i’m struggling with Level 3, but i have 4 weeks vacation and plan to use 3 of them for studying, plus that stress of not liking my job is no longer there and it makes studying that much more easier " if i fail, it’s ok, i already have the job i want etc…" Just dont word it as " i quit to study", word it as the job was very tedious, monotonous, and frustrating. Even if I wasnt studying, the stress of the job was taking a negative impact on me, i just figured i might as well leave earlier than expected and use that time to study.
I guess there are pros and contras to everything. But I believe that looking for a job WHILE having a respectable job DOES give you a huge edge over someone of equal qualifications but unemployed. In the mind of a potencial employer it makes you look as if you’ll work for them only if they can beat your current employer, so it automatically introduces some balance in the you vs. them aspect of things. I am currently looking for work while being employed, and I have yet to find something, so I can’t be too confident about my theories, but I DO get some feeling of confidence calling headhunters/recruiters and being able to say: “I am currently working @ ABC as a XYZ”. Don’t know, just my 0.02. Plus on another note, how long can you possibly need to study full time for a CFA exam ? Anyone who is serious about it can pass any level with 2 months MAX of full-time studying.
"work experience means EVERYTHING. Companies are ATTRACTED to people WITH jobs who’ve credentialed themselves looking for a better job, not the unemployed. I think the logic is if you didnt get laid off in this market you are probably a decent employee so you’re worth hiring vs someone who did get laid fof. " Hi CPA beatsCFA, I was laid off last year-later part of the year and I failed the exam-in the band 8. This year I’ve been sending out resumes but there is nothing so far. As per your post in quotes above, I’m NOT AN DECENT employee-just mediocre. I beg to differ. I have achieved a great deal and I have a good wall street career. In this environment, you cannot have this kind of state of mind. If you get laid off tomorrow( I do not wish that upon you but can happen to anybody) if the company you work for goes under-nothing personal. WILL YOU STILL HAVE THE SAME ATTITUDE ? The question is now that should I spend time looking or just concentrate on the exam ? And if I did that and if I fail again? Any suggestions/view guys?
derswap07 Wrote: ------------------------------------------------------- > Sorry to hear about your unemployment. I agree that being laid off/not can happen to anyone. I know a lot of good workers who were laid off with their whole desks. I also know lazy people who didn’t get laid off because their companies were healthy. Anyway, you should obviously keep looking for jobs while studying. You can’t possibly be studying for as many hours a day that you would spend working full time…
Hello Mister Walrus, Thanks for your support. I would expect that from fellow 3 levelers. Some people have jobs which are dead end and they do it just for doing it. I’m not that type. It finally comes down to what you want to do - which is a bit too much to ask for right now. Following your advise, I will keep looking and studying. Hope for the best on both fronts. Thanks again.
As someone who has done a little hiring, I have to echo that employment gaps are significant red flags and you must be able to explain them well. “I quit to study for the L3 exam” would really dent your chances with me right away. However, if you were laid off, that is a different story. As has been said here, there are lots of good people getting laid off too. Sometimes it is just a luck/timing thing. If you are out-of-work, I would look for something else to do along with your studying that can help your resume, such as SIGNIFICANT volunteer work. It is the people that are successfully doing something like a finance masters (evenings/weekends), doing well in a real job, doing the CFA exams, and supporting a real family - all at the same time - that stand out as competent people who can really get stuff done.