If you had a choice, as an Associate in M&A ( meaning u work till your eyes can stay open), what would u do in the following situation? While u have an MBA (with a nice big debt) , u feel that a CFA would be the icing on top of the cake that is your mba . Would look good on the CV and you’d get the charter because u anyways work-ex in Corporate Finance. Plus with a CFA you would be very much at the top of the competing pool and could move to the buyside pretty much at will. So you decide to register for the December exam.All of this is assuming the current date as March 15,2008. At the same time, out of no where, your ED decides to offer you a one week holiday in May. After recovering from the shock, you do some research and instantly decide to go to Thailand because c’mon, sun sea and sand, who doesn’t want to go there. And i mean after working such long hours, you can simply not drive the thought of a Mai Tai on one of Phuket’s beaches out of your mind You have slogged for one whole year and the bonus sucked. On top of that, Unfortunately you have recently made some massive expenses and you only have the money to either write the CFA i.e. $1K or go to Thailand $1.5 K. Under no condition can u afford both. MBA Debt and some other urgent expenses are making you feel the liquidity crunch even in your own life. Now, since the CFA registration date is 17th March, you can pay by CC which pretty much means the timing of the cash outflow will be the same as your vacation expense. Also, if you decide to postpone the exam to June '09 , It means you’ll be delaying the entire CFA process by one year, since you’ll write the L2 only in June '10 then, which is not really something you want to do. IF you write the exam in December and clear all levels by Jun’10 , you will have enough experience for the charter. What will you choose? Thailand or CFA? Remember that you are a Corporate Finance Associate and work very very long hours. And, CFA would look very good on your CV, since few people in your geography actually have a charter and big funds would be hungry for such an MBA + CFA + Corp fin experience. You have 1 day to decide since the last date for registration is March 17th and its already 15th. Kinda Stuck in this muddle I am.This is not a joke. And i really hate giving extra money for being late for registration.
What is the present value of the two options? Which one do you prefer? I’d go for the charter any time and find some nice vacation spot closer to home, then I’d make a jump for a job with better working hours.
Take the vacation… you sound burnt out already and the CFA will extinguish whatever life you have left.
i agree with wawa
I would do both. Here is how: Write a letter to your employer explaining the value add from obtaining a CFA designation. Position the letter only from the employers view and how this will help them. In the longer term this will help your employer better understand why you can not work the same hours as previously offered. This is because of the study commitment made by you and your employer to pursue the CFA. One major part of the letter should say, “Why the company should financially support my pursuit of a CFA designation.” I hope they give you the money. Go to Thailand. You will never forget or regret this choice, unless another Tsunami comes in while you are playing in the surf. Thailand is full of kind people who have a far better understanding of what real freedom and fun is. Thailand will reinvigorate your motivation.
Week in Thailand for only 1.5k dollars? OMG, take it in a heartbeat man!
I have a feeling this isn’t a purely hypothetical question. Anyway, the deadline for the June exam is March 17th, for the December exam it is the 15th of September. There is no reason why you can’t party in Thailand with ladyboys. Just remember to double bag it.
Thanks for the suggestions guys… I’ve taken the decision. and I am completely hating myself and this hyper competitive world right now.
And what was your decision?