No, I don’t know what you do for living GreenMan.
I think he gives nonsense advice for a living. Hopefully hedoesn’t give any financial advice. = P
Do you have to complete Level 3 to comment on how much more difficult it is that Level 2 or 1? Just the mere fact that I took it gives me at least SOME authority on its difficulty.
I never told anybody on how to pursue the CFA exams. I merely gave some food for thought–that if you can’t pass the first two times, what makes you think you can pass the third time? Just trying to save people some time and money and stress.
What examples did I give, other than the guy who took the test 21 times and my own experience? Of course that’s a small subset. Not meant to be a PhD-worthy cross-sectional analysis of CFA candidates.
And you’re telling me that I’m using a small subset? How many people do you know who failed two or more times and never finished? A little survivorship bias here?
I’m not really sure what it is you’re trying to say here, but I think you’re saying, “Those who study more guess less and pass more.” No sht. If that’s not what you’re trying to say, please elaborate more, because your post makes no sense.
To answer RobertUCLA’s question–I’m a tax accountant.
And to Whystudy’s point–I do give financial advice to people. And if one of my clients came to me and said, “I have tried thing X twice and failed twice. I think I’m going to do thing X a third time.”, I would advise them to think and come up with a plan (that differs from their previous two plans) before they throw more money and time at a project that has already failed them twice. I think that is good advice.
I think that to tell them, “Go ahead and do it again. And if you fail, just keep doing it until you die. After all, you will either succeed or die someday” would be very BAD advice.
GreenMan, why are you taking CFA if you’re a tax accountant? Is it even necessary in your field?
Greenman, you are pathetic.
You’re pouring salt in an open wound now, Rob.
Originally, I didn’t want to be an accountant. I wanted to be in PWM. When I was nearing graduation with my MSF, somebody said, “Hey–you’ve taken 24 hours of accounting–why not take two more classes and take the CPA exam?” So I did.
Then I got a job as a tax accountant (which I didn’t want), and actually wound up enjoying it. But by the time I realized that I enjoyed it, I was already past Level 2, so I figured I’d give Level 3 one good shot.
And it’s not necessary in my field. It’s not necessary in any field. But it does fulfill the “postgraduate education” requirements by SSVS-1 for a CPA to do valuation work, and it provides a framework for managing investments. A lot of accountants are starting to get their Series 7 and manage investments along with their normal tax work.
Sorry Greenman, didn’t mean to pour salt on an open wound.
Well for what its worth, try and network so you can break into the field you want. Good luck
Believe it or not (most finance people don’t), this is the field I want. I like my job and the people I work with. Hopefully in a few years, I can make partner and integrate my own investments/financial planning practice with the tax accounting practice.
Tax planning is HUGE! so much money to be made in this field, i don’t think you should switch jobs, in fact, tax planning offers better career potential and security than a lot of high finance jobs.
Good luck!
At this point I think slinging crack on the corner provides a better career potential and security than a finance job.
+1 to this!
Greenman, I like your approach, I’m doing this as well. I am a CPA/MBA/EA running a valuation/tax practice, and a lot of clients that sell their business’s are asking for AM. Thus I see the CFA as good continuing education to support qualified valuation and IM services, and I find it interesting because I trade a lot for my own investments.
Temperatures rising in this thread as results day nears. Relax people.
fck that! keep it going. This is like watching the lead up to an UFC grudge match. Hey greenman, call whystudy a tool and tell him to go back to his igloo >:D.
LOL when and where is the weigh in? I have a strong right hook
Define easy…
^It’s comparatively easy.
You’ll understand if/when you get to Levels 2 and 3.
I like alot of people opted to do the CFA as I wanted to learn, particularly if you have been working in the industry over the past few years it’s been a pretty tough time. It was my way of keeping myself busy.
Everyone has a different background, story to tell … it’s all about what you put in and having belief in yourself.
Hi Greeman,
Are you still going to quit if you don’t pass? As time passes you may change your mind?
I agree with green mans rule of thumb. Although it’s not s perfect rule it is a good one.
It’s missing another dimension: does your job require this charter? Will you actually benefit from it financially? Or are you just doing this for some other reason (to feel smarter)?
I believe a lot of candidates, especially Asians, believe that this charter will automatically qualify the, for a high paying finance job. They therefore pursue it throu three levels never to get a job in finance.
My rule of thumb goes like this:
fail twice and quit. If you can’t get the finance job that pays for this charter and requires it after level 1 then quit. It’s not gonna happen.