I passed L1 in December, then just passed L2 and am debating whether to take L3 or not. I work in finance and have about 15 months towards work requirements right now. Next Spring though, I plan on leaving my current job and going to work for the family business in steel manufacturing. Needless to say, this would not allow me to finish the work requirements. To be honest though, I really find this stuff interesting. Just glancing at the L3 topics, there looks like there is a lot of cool stuff. Advantages of taking it: - I would complete the program and learn a lot of cool stuff about finance - If I ever went back to finance, I would be poised to receive the charter after another 2 years Advantages of not taking L3: - I would have a life next Spring - Saves me about $1000 Right now, I’m about 80/20 on not taking the exam. But I’d like to see what other peoples thoughts are.
Advantages of taking it: “- I would complete the program and learn a lot of cool stuff about finance” - L3 is 70-80% PM so pretty useful even if you wanna help your family/ friends with their financial affairs. “- If I ever went back to finance, I would be poised to receive the charter after another 2 years” - Yeah…but again wont you rather wanna get done with this and get a closure??..move on and live in peace and harmony!! Advantages of not taking L3: “- I would have a life next Spring” – True…but if you do take it in future, you WILL end up spending one nice spring for this anyway. “- Saves me about $1000” - r u freakin serious?? university undergrad course are $600-700 these days…cough up that grand dude…its worth it.
The disadvantages are nothing compared to the advantages.
lindalibinbin Wrote: ------------------------------------------------------- > The disadvantages are nothing compared to the > advantages. Agree.
Finish it, dude. Whether or not you go into the family biz or not, it’s a great thing to have on your resume. Let’s say you become CFO or division manager of the family biz and hate it, or for some reason NEVER join the family business - you go somewhere else with the CFA, you look like a qualified dude instead of perhaps the result of nepotism. Also, you’ve sunk plenty of time in at this point - marginal benefit vs. marginal cost of finishing is pretty damn high. I’d say stick it out.
I would say finish it already. You are almost done. It seems that you know your stuff by passing the other two exams without any problems…You never know…your experience in the family business might count. Making any capital investments? exploring business opportunities in the business? It also looks good in your business card…having the CFA…good thing to show clients you have excellent credentials. They will be impressed.
Take it. You won’t regret.
finish it. its useful knowledge and a huge help if you ever wanna get back into finance to have completed all 3 exams. you can get the charter whenever you get the experience – the exams never expire.
Finish what you started son.
If you work in finance in the family business, say CFO, etc, this may get you qualified.
Why did you start?
How long do you think, you will be in family business ? Are you sure you would be working in family business and in what roles ? If you are far from finance and getting investment clients, you don’t need to write CFA. What’s the point of having CFA when you are not going to use it anyway.
Are you south asian? Just a guess.
Well, if he’s Indian and owns a steel business, he might be one of a couple of very wealthy and famous families. We should suck up to him.
Save your $1000 and enjoy life. You only live once. There is no guarantee that you will pass L3 on your first try. Pass rates are dipping below 50% and that is for candidates who have passed L1 and L2. If you decide to go ahead and attempt L3, think about if you would take for a 2nd or 3rd time if you don’t pass. At this point you don’t have a sunk cost for L3 and it is a good time to bail.
getting the charter would make you respectable at your family business to outside trade partners, as you wouldnt just be “the boss’ son”
I bet there are so many people who wish they are in your position right now – passed 2 exams, has a family steel business to attend to. Anyway, back to your point, having completed the CFA (at least the program) I think will give you some weight or voice in managing a business – family or otherwise. Who knows, if your business is a listed one, won’t investors or stakeholders want to know that at least you are financially literate and able rather than someone who gets to the top through family connections alone? Just my 2 cent. P.S. purely me being a selfish level 3 candidate, given you are so good at the exams, perhaps you shouldn’t take level 3, in case you spoil the market by raising the bar…
Take level 3. Show up to the exam in your dad’s Ferrari. Do coke off your desk. Talk on your cell phone during the lunch break as loud as possible about how rich your parents are and how you barely studied for the test. Leave test early, go to ultra lounge playing house music, do more coke, order hookers. Call yourself a “Level 3 CFA.”
Impossible is nothing.
ChickenTikka Wrote: ------------------------------------------------------- > Take level 3. Show up to the exam in your dad’s > Ferrari. Do coke off your desk. Talk on your > cell phone during the lunch break as loud as > possible about how rich your parents are and how > you barely studied for the test. Leave test > early, go to ultra lounge playing house music, do > more coke, order hookers. Call yourself a “Level > 3 CFA.” ladies and gentlemen we have a winner…Chicken Tikka take a bow…