Meaning, you put in the effort to pass I and II, so you might as well finish it, even if you are no longer part of the labor force?
I feel you, bro.
No longer part of the labour force? As in you’ve retired? Or what?
yup, at this stage passing L3 isn’t really going to make much difference career wise so the only motivation I’m relying on is getting this bloody thing over and done with. it’s so wordy i feel like I’m trudging through it, worried that schweser isn’t going to be enough
it was enough for me. If that’s all you used at level 1 or 2, I wouldn’t change the formula now.
If i started doing CFA L1 and L2 working as an investment analyst, and then by the time i passed L2 i moved onto another career (say i became an entrepreneur selling cosmetics), i would NOT be doing L3 “just to finish the program”.
I would rather use that time to develop my new career/ business, why would i want to study for CFA exam for fun???
or how about helping out your investment prowess on a personal level?
Not retired, just been unemployed for a long time now, with no breakthroughs. I’m just doing Level III now just in the slim chance it will help in the distant future.
Wanted to know if anybody else sitting for Level III is also unemployed.
Completely ridiculous to take the CFA exams just to help with personal investment process.
it’s like going to med school just to take care of your parents in case they get too sick to go see the doctors.
If you can’t find a gig, no harm in finishing L3. With all the free time, I’d think it’d be easier mentally. However, you should also plot a plan B. What if you can’t get anything even after L3? Maybe venture into another industry and burn the virtual charter with a blowtorch.
I’m an unemployed bum too Lockheed. Ain’t no shame in the game
@Aether and Stal:
Makes sense. Ain’t no shame… I actually signed up for an live L3 course, and the people come in, super serious, some dressed to the nines, who knows, LBO, M&A guys and girls finishing a hard day’s work, at this point, the other side of the fence sorta thing I guess… and I sit there with sweatpants and busted up sneakers, staring with tombstones in my eyes, and it makes me giddy for a few minutes, until I realize I’m more serious than any of these fkers in the room.
I’m way too serious. I gotta stop being too serious. It starts now.
I feel like I’m taking L3 just to finish the program. It doesn’t apply to my current job, so it’ll just be a future benefit. At least my company paid for it.
So you don’t think that studying the CFA has helped you at all in managing your own investments?
Thanks Greenie, just for some sections schweser seems a bit lean. Definitely going to do my main learning from Schweser and supplement that with the CFAI text and blue boxes if I don’t get it from schweser alone.
I felt that way a bit when I was doing L3 as my current role is a bit of a stretch (though I started in roles that were CFA related). That said, I think it adds credibility to my resume within the finance industry, even if I’m just on the corporate side and not some front office chief.
I feel better about it and the decision I made to finish now that it’s done compared to how I felt in April or May 2013. I actually have felt better about spending that time every day from whenever when I found out I passed.
Now that I have the Charter, it seems like I have more credibility when talking to FO types (which I deal with regularly) and it’s actually given me more confidence to pursue more advanced opportunities and maybe even an ER spot at some point in the future (though realistically it would have to be an ER role linked to my current industry, which is ok as its a high demand investment area right now).
It’s fun when I’m chatting to an analyst or banker (one without the charter) and they’re like, “whoa, you have the Charter? Right on buddy, huge accomplishment.” Each time I hear that I become a little more confident in my ability to play the game.
Keep on it and get it done. Good luck.
Yes but very little.
Like if i am looking for multi-vitamins in a drug store, would my phD in Chemistry help me pick something more effective? sure - but it’s like driving a ferrari to your kid to school, it does the job but it’s absolutely unnecessary!
Screw that, NANA. I’d drive my kid in four Ferraris if I can. Ain’t nothing wrong with being a baller.
In line with this…
it might not help you immediately but somewhere down the line, it will pay off.
People do respect the effort it takes to pass this level, some managers will put more belief in your application if you’ve completed it, it shows you have a combination of dedication and competence. I am quite sure I got this current job because I passed level 3. Keep pushing yourself, and be positive.
Maybe the phd helps you pick better vitamins which save your life, or allows you to determine which ones are placebo (junk investments). If you ask the pharmacist they might offer you advice that benefits them. For example the generic company that pays them to push the generic brand vs what might be the best for you. Yes the CFA might be overkill. Yes it might be crazy to do for the people not in the industry, but as others have said:
it shows dedication and perserverence
It might pay off later
Industry people respect people that have completed the charter
and for myself it has helped wtih my investing, so already its paid itself back. Now I have to try hard to finish this thing.
Regardless, everyone is entitled to their opinion and the fact that you mentioned using your time to build your business or other such pursuits is very valid.