As others pointed out, you can’t just multiply the pass rates. That would give a rough estimation, but is definitely not the real figure.
Out of the 8 charterholders I know, 2 went 3/3, so based on this small sample the figure would be 25%.
who cares if you go 3/3 or it takes you 15 years, so long as you get your charter.
Blogger, as you’ve probably figured out by now, everyone that has previously failed one of the CFA exams is going to poo-poo the significance of going 3-for-3. So consider your audience carefully before announcing your awesomeness.
As to your question: The percentage of 3-for-3’s is going to depend heavily on the denominator that we use.
If we include only Charterholders (ie. people that have passed all 3 exams and acquired 4 years of finance experience) then I would say that a 3-for-3 rate estimate of 25% (or maybe a bit more) is probably reasonable.
On the other hand, if we include everyone that has enrolled in the CFA program (including folks that paid the enrollment fee but never actually showed up for the L1 exam), then the denominator will be much larger. And the 3-for-3 ratio will be vastly smaller: probably well under 5% – maybe even under 2%.
That’s an extremely biased way of looking at it. Only using the people who have passed as the benchmark means diddly. And even then, I highly doubt all Charterholders have a 3-3 rate of 25%.
We can all agree that the number is very low. No one knows what the actual number is, but you can continue to hypothesize about it if you want. I will be the first one to give props to everyone out there that went 3-3, I did not. Many of my close friends have. I don’t think that I am “poo-pooing” that accomplishment for one second, but there really is no number out there and I am pretty sure the CFAI wants to keep it that way. They want to de-emphasize it, so all of us that haven’t gone 3-3 continue to give them our hard earned dollars in pursuit of the charter.
Im just gonna come out and say it - going 3 for 3 will do jack shit for you except impress aspiring level 1 candidates. All that employers care about are the 3 letters after your name. Yes, you can choose to believe my interpretation is BS because i didnt go 3-3, although I should have, but thats a whole other story. The reality is that beyond bragging rights and trying to impress everyone in the forum with your nostradomus like knowledge, it is of no benefit.
I don’t care if I am the dumbest CFA on the face of the earth, so long as i get those 3 letters.
Wow, Mark, you are completely well adjusted and are not at all bitterly insane.
Bitter, maybe, insane, nahhhhhh.