Hi, I was doing marketing kind of job, and could not give up my passion in finance. So I took the L1 exam in the middle of work and passed it. I actually quit the job right after the test. Now I am facing another dilemma. should I find a job in Finance, gain some experience, and then move on to L2, which means I have to wait for another year. or should I study L2 full-time, pass the test, and then crack into finance? I assume that my odds on passing L2 is higher if I stay full-time studying. Given the difficulty level and limit time for preparation, I don’t think I can do both. it is either work or study. What do you say if you are in my shoes? Any advice will be appreciated.
I am actually facing the same dilemma.
I am facing the same dilemma a few days ago. Had 3 interviews lined up, which would have been a higher position than I had prior to quiting my prior job in Finance. I decided that if I pass L2, it will be smooth coasting from then on. Its a bit risky, yes because we both know we will have gaps on the resume, but employers may understand especially because of the difficulty of the test. So the decision for me was to hammer away and not wait a year. If you pass you are golden my friend… The power is yours… good luck
Do both. Not to be negative in any way… but I belive the majority of people here are working and taking the exam at the same time. If you do not pass this year you will be that much more prepared for next years exam.
A lot (most?) people here are working full time and studying for these exams - myself included. However, if you’re not working in finance right now and you think you can find a job you want soon, it would be harder because a) you’re working in a new industry and b) you are working your ass off because it’s a new job. That’s a tough situation. I think your dilemma is valid. Personally, I’d do L2 and then look for a job if that’s an option. You may get a better job with another exam under your belt and you’ll also have a lot more time to settle in since L3 (or L2 again) would be a year off.
Depends on what job you would get. If it is relevant and with good prospects, go for the job. I also had the same dilemma but until I figure out what to do, I started work. I think I am gonna try for L2 in June. In case of failure, you can retake it next year much more prepared. And importantly, there’s still risk to fail it even if you do not work. Thats even worse.
I realized that many employers do consider (negatively) the time gap in between your jobs because either they have no idea how much does it take to clear L II or they just don’t know what CFA is!! I think I’ll stick to my job -We need four years of work experience anyways- while I clear LII and LIII on the run. Regards