Hey everyone, just wanted to get some feedback. So I passed level one in December, and have been studying for level 2 since the beginning of January. The problem is that I haven’t registered yet, because I was completely broke and unemployed at the time. Now, I have started a new job 2 weeks ago, in equity research amazingly enough, and have the money, but don’t know if I should take the exam. I’ve gone through about 65% of the material from the CFAI books, excluding ethics, fra, and some of derivatives (which have some of the hardest concepts). My concern is that I won’t pass, this just too much s**t to remember. I’m the type of person that takes a long time to really “learn” something, I only passed level I on the second try and after doing over 2000 practice questions. Given 6-8 months I could definitely pass, but with 2.5 months left, I don’t know if I can do it. My job isn’t too demanding in terms of hours, but still hard as it is my first job out of college. I’m probably the youngest person in my company who has completed level one, so there’s no reason to rush things, especially since I’ve been working in ER for about 2 weeks. However, I would like to get a job at a BB sell-side a year from now and I figure CFA level II would help. Should I just enjoy the spring or should I go for it?
if you need to hear from others to make up the mind, might as well enjoy the summer and register early next time
if you are going to fail, then i strongly encourage you to sign up and help bend the curve for the rest of us who are planning to crush this thing.
go for it - at least you will know what to expect the next time - your employer should pay for it if you are in ER.
Your job should probably take first priority right now. If you cant put in a lot of time because of it then you shouldn’t bother. If they’ll give you a week off to study then maybe.
thommo77 is right. Ask yourself, why shouldn’t you do it? To enjoy the spring? ANd you have already gone through the majority of the materials. Give it a try, when you focus on practice questions you have a fare chance and the next opportunity will be in more than a year from now, don’t wait for that. Go for it and make it happen!
In my younger years I would say just sign up, cough up the cash and take the exam, at least you will see it to help you pass it the next round, if you don’t make it. What I realized now is the job you currently have is much more important than the speed at which you get your charter. Considering the early days of your new job will set your position/career momentum at the firm and this is when you make your many first business impressions with new people, if half your brain is gone while you are stressing over this exam, your new job could really suffer and not recover. Should your job performance reflects this double stress, where some people will think you can’t handle the job b/c they don’t know, and should you fail [b/c the probability of passing is so low - 65% against you] it won’t be worth it at all. If you don’t need to take on this additional risk, don’t take it now. L2 is very very deep. Do it next year once you get adjusted to working life, plus you will have more equity experience. Having gone through 65% of the material doesn’t mean much. Take practice exams on the parts you have gone through. If your practice exam scores are stellar, then keep trucking. It is very likely to go through all the material and then find out you can’t break 60% on the practice and have to go over it again, time permitting or be unprepared walking in the exam room doomed. Given the high risks n low probability of positive rewards, I would do it next year under your circumstances. But if you feel you can mustard it, to really have a decent chance be prepared to work every weekend, on weekdays after work and shed tears of blood. Good luck!
Take it next year, there’s no hurry.