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Did not get the accounting promotion because I studied too hard on CFA

I work in public accounting firm, and the firm demanded a lot from me during the busy season. I did all the required hours but I did not do a lot of overtimes. I spent those hours into studying CFA level III. I started preparing CFA level III since January, and the course load as well as the overtime killed me. I have requested a week off using my own vacation time before the CFA exam, but the firm did not allow me to take the vacation because it was still technically busy season for the firm. I did reinforce my time-off request and I eventually got it. 

Luckily I passed the Level III with the first attempt, but I did not get the job promotion because HR believed I spent too much time preparing for the exam. But the fact was I did all the required hours with dedication, but I just opt not to take overtime to cater the toxic work environment. I did understand the firm’s position on this situation, however, the HR in accounting firm did not value the CFA designation, nor my personal eager to achieve a better person. 

Recently, I’ve been asking myself: if given me the same situation, will I choose to spend that much time to take the CFA? The answer is a definite “Yes”. I will be a CPA and CFA within short period of time, and I do intend to look for career more incline toward financial institution instead of in Public Accounting firm. 

I just need an outlet to express my current frustration, and find those folks who value CFA designation.

Cheers,

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Both you and your firm did the right thing. 

You knew you don’t wanna stay in public accounting, hence you chose to study for CFA and not let work getting into your way.

Your firm knows that too, so why would they waste a promotion on someone that’s not going to stay long? 

No hard feelings it’s all business, and over with it and move on. 

Thanks for the analysis, the true hard fact took me about a day to swallow and accept. Time to move on! 

Asianrepresents wrote:

Both you and your firm did the right thing. 

You knew you don’t wanna stay in public accounting, hence you chose to study for CFA and not let work getting into your way.

Your firm knows that too, so why would they waste a promotion on someone that’s not going to stay long? 

No hard feelings it’s all business, and over with it and move on. 

same opinion.

I have learnt it’s best not to tell everything you are doing to your employer to advance your career, share what will help you in your job.

you dont owe your employer everything..

It was a long shot, glad i made it.

Very true, however in my situation, in order to have time off to study, I need to tell the employer the reason why I need time off during busy season, or they will not let me off without valid reason. Thanks for the comment!

wowpravin wrote:

I have learnt it’s best not to tell everything you are doing to your employer to advance your career, share what will help you in your job.

tamiesurok wrote:

I work in public accounting firm, and the firm demanded a lot from me during the busy season. I did all the required hours but I did not do a lot of overtimes. I spent those hours into studying CFA level III. I started preparing CFA level III since January, and the course load as well as the overtime killed me. I have requested a week off using my own vacation time before the CFA exam, but the firm did not allow me to take the vacation because it was still technically busy season for the firm. I did reinforce my time-off request and I eventually got it. 

Luckily I passed the Level III with the first attempt, but I did not get the job promotion because HR believed I spent too much time preparing for the exam. But the fact was I did all the required hours with dedication, but I just opt not to take overtime to cater the toxic work environment. I did understand the firm’s position on this situation, however, the HR in accounting firm did not value the CFA designation, nor my personal eager to achieve a better person. 

Recently, I’ve been asking myself: if given me the same situation, will I choose to spend that much time to take the CFA? The answer is a definite “Yes”. I will be a CPA and CFA within short period of time, and I do intend to look for career more incline toward financial institution instead of in Public Accounting firm. 

I just need an outlet to express my current frustration, and find those folks who value CFA designation.

Cheers,

promotion to senior or manager?

Supposed to be promoted to Senior 

imthekingoftheworld wrote:

tamiesurok wrote:

I work in public accounting firm, and the firm demanded a lot from me during the busy season. I did all the required hours but I did not do a lot of overtimes. I spent those hours into studying CFA level III. I started preparing CFA level III since January, and the course load as well as the overtime killed me. I have requested a week off using my own vacation time before the CFA exam, but the firm did not allow me to take the vacation because it was still technically busy season for the firm. I did reinforce my time-off request and I eventually got it. 

Luckily I passed the Level III with the first attempt, but I did not get the job promotion because HR believed I spent too much time preparing for the exam. But the fact was I did all the required hours with dedication, but I just opt not to take overtime to cater the toxic work environment. I did understand the firm’s position on this situation, however, the HR in accounting firm did not value the CFA designation, nor my personal eager to achieve a better person. 

Recently, I’ve been asking myself: if given me the same situation, will I choose to spend that much time to take the CFA? The answer is a definite “Yes”. I will be a CPA and CFA within short period of time, and I do intend to look for career more incline toward financial institution instead of in Public Accounting firm. 

I just need an outlet to express my current frustration, and find those folks who value CFA designation.

Cheers,

promotion to senior or manager?

So, why you still working there then? Get the hell out dude. If they fail to see the value and utility in continuing education then GTFO.

¯\_(ツ)_/¯ It be like that sometimes.

YEA I know dude, I’m actively looking for other job opportunities, but meanwhile I still need to have salary to buy the bread for the family. Trust me, move is on the way :)

CEO10K-DAY wrote:

So, why you still working there then? Get the hell out dude. If they fail to see the value and utility in continuing education then GTFO.

That sucks bro.  If you don’t get a promo, at minimum, you should get explanation from your boss and not HR.  What does HR know about your work product?  More generally, did anyone at your firm pass CFA exam AND get a promotion?  This is a temporary setback, but to make it suck less, you need to be honest with yourself and learn from it.

op i’m sure you are much smarter than your peers/even your managers. don’t let this disturb you because this is natural when you are climbing up

Hey,

  So in our local office (a small to medium size office), nobody attempted CFA. The boss valued CPA (which I took as well) but not CFA. In his perspective, CFA is only a course that normal people could pass easily. What else can I say lol.

Malee wrote:

That sucks bro.  If you don’t get a promo, at minimum, you should get explanation from your boss and not HR.  What does HR know about your work product?  More generally, did anyone at your firm pass CFA exam AND get a promotion?  This is a temporary setback, but to make it suck less, you need to be honest with yourself and learn from it.

I know, that’s the wake up call I had to determine to change a new job and new firm.

imthekingoftheworld wrote:

op i’m sure you are much smarter than your peers/even your managers. don’t let this disturb you because this is natural when you are climbing up

Your boss sounds like an idiot. 

So you are an auditor in an accounting firm. I can relate, been there, struggled to get my accounting qualification during busy seasons over the years, but I did it! Now I am studying for my L3, and I am out of these firms currently, so hopefully I can nail L3 in June (started my own firm on the side though!).

Are you applying for the experience soon? Please let me know, I’d like to get some insights from you since we come from a similar background and I plan to get my experience approved before I attempt L3.

Hello, do you mean getting CFA experience verification? I do need to change a job in order to get valid experience for CFA, as my background is purely auditor now. So it’s gonna be a while before I apply for CFA experience verification. But keep in touch as we have very similar situation. P.s. what kind of firm are you thinking about having? I’m very interested to know :D

LadyMacbethStrategy wrote:

So you are an auditor in an accounting firm. I can relate, been there, struggled to get my accounting qualification during busy seasons over the years, but I did it! Now I am studying for my L3, and I am out of these firms currently, so hopefully I can nail L3 in June (started my own firm on the side though!).

Are you applying for the experience soon? Please let me know, I’d like to get some insights from you since we come from a similar background and I plan to get my experience approved before I attempt L3.

tamiesurok wrote:

YEA I know dude, I’m actively looking for other job opportunities, but meanwhile I still need to have salary to buy the bread for the family. Trust me, move is on the way :)

CEO10K-DAY wrote:

So, why you still working there then? Get the hell out dude. If they fail to see the value and utility in continuing education then GTFO.

Ya I’m mopping what you’re spilling. At least you’re in that “IDGAFOS” mind set. 

¯\_(ツ)_/¯ It be like that sometimes.

Look at your career from long term perspective. In short run letting go a promotion is definitely okay. If you are eager to switch your career into investments, it does not even matter. 

Scenario 1: the aforementioned 

Scenario 2: you get the promotion but fail to clear LIII 

Which makes you happier? There is always a tradeoff. 

Magina, the Antimage II Never ever give up!!

It’s funny that you brought out the scenario analysis. I was doing self reflection when I got notice that I did not get the promotion. And then I question myself: what if I got the promo now but did not clear LIII? I would not want to torture myself another year for the CFA prep, and I do have plan to have a family and enjoy my life and relocate. Thus, Scenario 1 is what I think I would choose when compared to scenario 2. Like you mentioned, I don’t even want to stay with Public Accounting firm (aka looking for career switch), so the promo does not play an essential part. I really appreciate your analysis. :)

Deal_Clincher wrote:

Look at your career from long term perspective. In short run letting go a promotion is definitely okay. If you are eager to switch your career into investments, it does not even matter. 

Scenario 1: the aforementioned 

Scenario 2: you get the promotion but fail to clear LIII 

Which makes you happier? There is always a tradeoff. 

tamiesurok wrote:

Hello, do you mean getting CFA experience verification? I do need to change a job in order to get valid experience for CFA, as my background is purely auditor now. So it’s gonna be a while before I apply for CFA experience verification. But keep in touch as we have very similar situation. P.s. what kind of firm are you thinking about having? I’m very interested to know :D

LadyMacbethStrategy wrote:

So you are an auditor in an accounting firm. I can relate, been there, struggled to get my accounting qualification during busy seasons over the years, but I did it! Now I am studying for my L3, and I am out of these firms currently, so hopefully I can nail L3 in June (started my own firm on the side though!).

Are you applying for the experience soon? Please let me know, I’d like to get some insights from you since we come from a similar background and I plan to get my experience approved before I attempt L3.

Audit experience does count, CFAI lists “Auditor” as an accepted  profession. But you need to word your experience properly, that’s why I asked you. I’ve started  a firm that provide accounting/consutling services. Just like any other firm.

Good to hear that! Then I’m a couple months away from getting all 4 year experience. Keep in touch, and I’ll let you know when I applied. MY what’s app is 9023713570 :)

LadyMacbethStrategy wrote:

tamiesurok wrote:

Hello, do you mean getting CFA experience verification? I do need to change a job in order to get valid experience for CFA, as my background is purely auditor now. So it’s gonna be a while before I apply for CFA experience verification. But keep in touch as we have very similar situation. P.s. what kind of firm are you thinking about having? I’m very interested to know :D

LadyMacbethStrategy wrote:

So you are an auditor in an accounting firm. I can relate, been there, struggled to get my accounting qualification during busy seasons over the years, but I did it! Now I am studying for my L3, and I am out of these firms currently, so hopefully I can nail L3 in June (started my own firm on the side though!).

Are you applying for the experience soon? Please let me know, I’d like to get some insights from you since we come from a similar background and I plan to get my experience approved before I attempt L3.

Audit experience does count, CFAI lists “Auditor” as an accepted  profession. But you need to word your experience properly, that’s why I asked you. I’ve started  a firm that provide accounting/consutling services. Just like any other firm.

tamiesurok wrote:

Good to hear that! Then I’m a couple months away from getting all 4 year experience. Keep in touch, and I’ll let you know when I applied. MY what’s app is 9023713570 :)

LadyMacbethStrategy wrote:

tamiesurok wrote:

Hello, do you mean getting CFA experience verification? I do need to change a job in order to get valid experience for CFA, as my background is purely auditor now. So it’s gonna be a while before I apply for CFA experience verification. But keep in touch as we have very similar situation. P.s. what kind of firm are you thinking about having? I’m very interested to know :D

LadyMacbethStrategy wrote:

So you are an auditor in an accounting firm. I can relate, been there, struggled to get my accounting qualification during busy seasons over the years, but I did it! Now I am studying for my L3, and I am out of these firms currently, so hopefully I can nail L3 in June (started my own firm on the side though!).

Are you applying for the experience soon? Please let me know, I’d like to get some insights from you since we come from a similar background and I plan to get my experience approved before I attempt L3.

Audit experience does count, CFAI lists “Auditor” as an accepted  profession. But you need to word your experience properly, that’s why I asked you. I’ve started  a firm that provide accounting/consutling services. Just like any other firm.

Does the provided number include the country code? It doesn’t appear in my Whats App. I’d like to be kept updated as I plan to send my experience in this coming period and get it out of the way before I attempt level three… I already have more than four years worth of experience 

Check your inbox :)

LadyMacbethStrategy wrote:

tamiesurok wrote:

Good to hear that! Then I’m a couple months away from getting all 4 year experience. Keep in touch, and I’ll let you know when I applied. MY what’s app is 9023713570 :)

LadyMacbethStrategy wrote:

tamiesurok wrote:

Hello, do you mean getting CFA experience verification? I do need to change a job in order to get valid experience for CFA, as my background is purely auditor now. So it’s gonna be a while before I apply for CFA experience verification. But keep in touch as we have very similar situation. P.s. what kind of firm are you thinking about having? I’m very interested to know :D

LadyMacbethStrategy wrote:

So you are an auditor in an accounting firm. I can relate, been there, struggled to get my accounting qualification during busy seasons over the years, but I did it! Now I am studying for my L3, and I am out of these firms currently, so hopefully I can nail L3 in June (started my own firm on the side though!).

Are you applying for the experience soon? Please let me know, I’d like to get some insights from you since we come from a similar background and I plan to get my experience approved before I attempt L3.

Audit experience does count, CFAI lists “Auditor” as an accepted  profession. But you need to word your experience properly, that’s why I asked you. I’ve started  a firm that provide accounting/consutling services. Just like any other firm.

Does the provided number include the country code? It doesn’t appear in my Whats App. I’d like to be kept updated as I plan to send my experience in this coming period and get it out of the way before I attempt level three… I already have more than four years worth of experience 

+1

Unless your boss values the qualification.