After passing level 2 recently and getting poor reponse from recruiters due to past experience i am thinking of dropping level 3 next year and look out for som other option . Market is very band and things looking uphill for me to break into finance,
Lets see what happens. Extrememy confused as if L2 doesnt get me a job this year in finance, then passing l3 also wont help much
I would devote all your energy to your career for the next 8 months or so. I don’t think you need to worry about level 3 if you don’t already have a job. Job First! Don’t even waste a second thinking about the CFA right now. You have already proved that you have the potential to pass level 3 by passing level 2. Any employer familiar with the program will know this.
That said, you should still consider taking the exam. But don’t worry about it now. Realistically, you dont need to start studying until well into January. Level 3 is not like level 2. There is way less to learn. The test is still a bitch to pass, but that really requires just a lot of practice at the end and not the months and months of studying that it takes just to get through level 2’s curriculum. You’re not there yet, so don’t worry about it.
CFA is not a magic pill for your career, so make sure to focus on your career. CFA is more like a steroid. Even if I took lots of steroids I still would not be able to compete in the olympics. You have to have the natural talent, work ethic, and background. CFA will just give you a slight edge over the other guys who have this. It won’t replace those things though.
Also try and think of ways to differentiate yourself from other applicants. In another thread, Numi, who works for a hedge fund, said that he wants to hear ideas from potential applicants (because that’s what his industry is about). Everyone is more or less qualified. So be the guy who actually thinks.
Actually my age(28) and past experience (non corporates) is a big issue. I had applied for 20-30 jobs and gave 1 interview. There HR and Finance manager were highly apprehensive why i want to change career after 5 years. They said how wil u adjust with people who are 4-5 years younger than you and at same salary and position.
Your previous experience will go waste.
Its true cfa level 2 passed got me the interview call but my past is hampring my future .
Look you’re always gonna get difficult questions in an interview and you are NEVER gonna be the perfect candidate - there will ALWAYS be issues. This question of “why switch now?” is such an obvious one that you should have been expecting given your profile. It’s unforgivable that you didn’t have a good answer to this ready. You clearly didn’t “think” this through.
In real life you need to think, not just memorize textbooks. So start thinking. If you don’t have a good response to obvious questions like this, then the guy interviewing you is gonna say, “Oh I have another automoton who is incapable of independpent thought applying for a job in finance because he heard it would pay lots of money. Furthermore, he hasn’t thought about anything else besides remuneration.” That’s not how you differentiate yourself from the other million applicants in India who are all ALSO CFA candidates and jobless.
Let it be a lesson to you, and anyone else who reads it. Next time, youll be better prepared. Don’t give up.
No i was actually somehow able to convince them i want to do this job since doing CFA i developed interest in valuation and hence looking for this profile. I also cleared three rounds and then they gave me an assignment to do comparisions of financial of big companies in a sector in 1 day.
I have sent the assignment lets see whether they like it or not …
But its really tough to change career. The company is very very curcumspect
Practice learning how to pitch a stock and send it to buy side. If you cant do that then you wont land a job in research or as buy side analyst. My firm interviewed over 20 people recently, some had the charter, some didnt. The person hired (not in CFA progeam) was confident and knew how to talk about a company.
If you are just looking for any job, maybe something in the accounting fields would be more suitable where there may be more demand. But I find myself agreeing with Hacksaw that focusing on the job > spensing a year memorizing contingent immunzation methods.
The problem is you’re look at each level as something independent as if you should get partial credit for each level. The designation is only truly useful and powerful once you complete all three levels and are awarded your charter. There is a huge difference between having on your resume “Passed CFA level 2” and “CFA Charterholder”
Vicky… I was in similar situation like you few years back, though i had exp in finance… I started with one of sell side equity research firm in mumbai. I was always keen in doing research and tracking stock and stuff ike that… I developed ths liking towards research coz durig my management course i alwayys got feedback from from alumni and profs saying things like " research is d top rated job", “highly paid job” and s%&£ like that… I worked for 6 mnths in that co and i realized i am not good at all with ths thngs… I struggled to write research reports . i started questioning my self if ths is what i really want to do… I got frustrtaed and resigned one fine day… I had cleared l1 by then and was preparing for L2… I could not find any job for 8 months and finally landed up with a job at half of my previous salary… Bt it was into Risk… I liked it … I loved working thr… Its been 4yrs now and i am completely satisfied with what i do… I skipped L3 to take FRM. Done wwith that… Now i am just trying to study for L3 , honestly it is not a necessity for me.i dont think it will help me in my current role… Point is … Find your interest and work towards it…in India CFA is like something which is over rated… Everyother guy wants to do CFA ( just like me when i registered for L1)… I dont know what your current role is… But if u have invested so many years in that role… Try finding how you can grow in your current role (provided if you find it intresting) Just my 2 cents… Gud luck