Three weeks ago, I got the news that our fund is shutting down and I should look for a new job. This came as a bit of surprise since my boss constantly told me that he has his own money in the fund and he will not shut it down.
Been looking for a job for past 3 weeks but no such luck. Seems to get few interviews but its mostly with headhunters. I only had a one real interview so far but been told that hiring manager isn’t sure if he will be filling that position.
I have until end of June to look for a new job. The problem is my mind is occupied with job search/stress that I can’t seem to focus on studying. Seems to have more time now than before but I just can’t stare and read book for 10 minute without thinking about job and my families future. I have a wife and a two year old son whose health insurance will be terminated if I can’t find the job till June.
So far, I am done with schweser 4th book and still have one more book to read. I have signed up for Creighton bootcamp in may and I still have to do CFA EOCs. I can’t afford to go through this again next year if I fail this year.
Anybody in similar situation? any advice on getting my mind out of the gutter and focus on studying again?
Can’t be easy your situation. But think about it from what you can control, and what you can’t. Put the effort in to find a job, and it will happen. If it doesn’t you have tried your hardest. We are so close now that to drop the ball now would be criminal. Don’t blame failing on losing your job. Surely you will get a bit of a pay out, cut expenses, and get your head down. What can you family go without for a few months. Make it a must and not a want. You can do this.
I am always the last to put people down and tell them to quite, but I must tell you if you dont already have a very good amount of prep done, delay CFA.
Bettwen 300 hours spent studying for an exam, and 300 hours spent looking for a job online, visting companies, dropping CV, I think the job hunt will pay you better. Plus if you spend 300 hours and you are not in the proper mindset, it is going to be 300 wasted hours. It is just an exam, no need to stress yourself and jepordise your health and possible job because of it. CFA will be there next year, employers might be less eager to hire you after a year at home (been there).
Have been thro’ worse (due to coup and violent overthrow of the govt lost job overnight and any hope of completing the last part of course )…… and survived (starting anew got a job later and completed the studies in more adverse situation!) .
any advice on getting my mind out of the gutter and focus on studying again?
First and foremost : Don’t let the situation overpower you and make you feel either depressed /lost or stressed out. Once this happens your rational thinking will be clouded, and your decision making power as well as concentration will take a nose dive as hours tick by; moreover you will put your dependents in worse situation (the child may not know what is happening but believe me they understand much more than adults that Dad is not happy and all is not well by merely observing you!!). Have all the courage and determination at your command work for you to retrieve the unforeseen situation without losing focus (by just remembering that you could be in much worse situation than what you are in – you have at least till end of June to resolve your situation and there is every possibility you will come out of it by then!). These are the trying times when your mettle is tested and losing focus will aggravate rather than assist you in facing it.
Secondly, you know what your priorities are though it is not that easy but you have to (yes, you have to whether you like it or not) decide at least till 3rd June how much share of time, energy and effort each priority can reasonably get. At first sight it may undoubtedly seem that getting a new job is the top priority but if you think more logically ( i.e. “I can’t afford to go through this again next year if I fail this year…”) it is not so, as facing the challenge of L3 is of equal if not more of a priority for you. In fact till 3rd June your investment of intellectual effort and time (and money too) in your level 3 makes it more crucial specially when we all know planning and preparing for it again after a year may not be equally motivating or easy. So, divide your time among these two priorities after due deep thinking and once you have done so don’t let one activity encroach into another’s time allocation (it may not be easy but with strong determination and single-minded effort you can do so – though real inner strength of your character will be needed).
Finally, if you think you can handle both and once decided for it, don’t get diverted by people trying to discourage you by creating scare or saying, ”you can not resolve your problem by thinking of both at a time” – there will be many sympathizers to make you more nervous by exaggerating negative aspects of your predicament. Just keep in your mind that you only can help yourself and your family will support you to come out of the difficult situation you are in – no one else can. Decide and plan your activities at least till 3rd June without losing any confidence in your ability and competency and focus on it believing all the time that God will ensure your success if you don’t lose hope and have faith in Him.
You post this as if you have another optoin? Granted this is easy to say not being in your shoes, but seriously, what is in your control right now?
You can look for a job for 3 weeks, but that does not guarantee anything. Give yourself the best chance possible to pass this thing and then focus on your job search. Your family will not starve in 3 weeks, and surely you have some unemployment to get you by. Im not sure the two are mutually exclusive anyhow, there is only so much job searching you can do… I would put out as many applications as possible for a few hours each day, and then crank it out with the test for the balance.
Its tough to have to go through what you are going through, and I feel your pain, but as others have said focus on what you can. If I got laid off today, I would focus 100% on my exam and now that I had all day to study, you could bet your ass I would pass it. Do the same, then the next application you put out might just have those nice three letters at the end of your name.
You have to bear down and push through it. You have to find a way to do BOTH, look for a job and close out the CFA. As you said, you have the time, just make the most of it. Figure out what works for you and do that to the best of your ability. Even if it is only setting aside 2 hours a day for the CFA make it 2 quality hours every day.
I was laid off less than three months before L1. After sitting around in a funk for about three weeks, I shook it off and found a powerful determination to study and pass the exam. It was something that I could grab and hold onto while the $hit was hitting the fan in the industry (this was back in Sept-Oct '08).
Hopefully you can shake this off and also end up with a positive result. Good luck.
PS I ended up landing a new job about a month after taking the exam.
Yes, i lost my job this winter and subsequently lost about 3 months of studying because I couldn’t focus on anything but figuring out how not to do any damage to me or my wife’s lives. I stopped studying, found a temporary (and terrible) job, temporary health ins., asked my wife to get a third job in addition to her full time grad school, finished my MBA aplications, and only then was I able to concentrate on my study routine. Now, I’m way behind but have enough under my belt to make an attempt. If I don’t pass now, it will be much harder to do next year while in a very intense grad program.
Losing my job was the only reason I decided to conquer this beast. Lost my job in '08 and after months and months of looknig and eventually settling for a crap job I decided to hop back into this in 2010 after a 5 year hiatus from the CFA (failed level 2 in '05). So, use it as motivation.
Interesting story Big ML. I was sitting next to someone in Level I that failed it 15 years ago and was just coming back. It’s never too late to boost your credentials. Sometimes I feel like I’m way on the older side of the spectrum here but it’s those types of stories that give me some motivation to knock this mother out.
Damn 15 years ago… Almost a lifetime. I bet that person regrets waiting so long. Pass rates were much higher then, and there was less material to study