Hi all, I just cleared L1 this time…I have heard that L2 is very very tough…I am really confused if i should take up a job with L2…I prepared for L1 sitting at home…without a job!
Job > CFA
I would not have been able to pass L2 with a job. But then again most other passers do have a job…so its just me… And like mr_moose said… I already passed L2, and will pass L3 next year for sure and guess what, I think it is very likely I still won’t have a job in finance. I would like to lie to myself and say I will, but the world economy is not exactly helping So if you can get a job being the secretery of the secerety of a junior analyst. TAKE IT
If you can get a job…definitely get it and start early with L2 preperations…2-3 hrs a day of studying may be more than enough if you start around sept/oct
passing L2 without job is meaningless…remember that you need 4-yr working experience in related field.
Job takes priority over Level 2 in my view.
I am in the same situation…seeing people moan about not passing some level of the cfa exam while being gainfully employed in a relative field really irks me sometimes…i would rather be working lol.
Passed level II with a job from first attempt / no courses too. Level II is all about solving and finding the “right” method of studying. I did 500 hours at first based on schweser and i found out that i did lack a lot of information and i have weaknesses in major areas. So i hit CFAI books and tried to fill in the gaps and thank god i did pass. So all in all I’ve put 700+ hrs; however, trust me on this one when i say that 700 hrs and a full time job = NO LIFE whatsoever …
Get a job!!! It depends on your background but you dont need 700+ hours to pass Level 2.
I passed level 2 with a full-time job, a wife, and two kids under 3. I would study every night after the kids were asleep from 8PM to about 11. The key is to make a study schedule and stick with it.
I think the best situation would be to talk to your employer about all the benefits that come from studying CFA. If you gain your manager’s support you will be well placed to negotiate a bit of study time during work hours. My old manager failed CFA so he wasn’t very supportive… one of the reasons I quit…
Take the job 1000000%. For one you can’t fail a job, so if you study for a year and fail what do you have to show?
Better to have a job and fail L2 instead of vice versa…the goal isn’t to collect certificates!
Unless you are independently wealthy or can live off eating the curriculum, I would say Job trumps CFA every day.
Honestly who would you hire. An IB analyst/ ER associate with 2 years of experience or an unemployed person who’s passed Level 2? Is this really even a question?
eaber81 Wrote: ------------------------------------------------------- > I passed level 2 with a full-time job, a wife, and > two kids under 3. I would study every night after > the kids were asleep from 8PM to about 11. The > key is to make a study schedule and stick with it. +100
MissCleo Wrote: ------------------------------------------------------- > Honestly who would you hire. An IB analyst/ ER > associate with 2 years of experience or an > unemployed person who’s passed Level 2? Is this > really even a question? hehe no brainer
I passed with a full-time job and have a wife and four kids. That said, I failed on my first attempt last year, and my current job (research editorial) has periods of downtime when you are not expected to be doing any other work. So I used that time to study… The bottom line is if you really want this thing, you will find the time. It’s all about priorities. Amazing how much time can be crammed in for this exam if you are serious about it. For example, I must have listened to the entire set of Schweser mp3 files a total of about five times while commuting to work. You just have to get into the ‘zone’ with your study routine, at which point studying becomes automatic and ingrained in your habits. Getting into that zone is the tough part.
I work a full time job (around 50 hrs a week) and passed L2 on the first attempt. It is doable, but you won’t have much of a life for 5 or 6 months leading up to the exam.
I work full time at a Fortune 30 company as an analyst, go to MBA school in the evenings at a top 20 university 2-3 nights a week from 6p - 9p, and I passed CFA I after reading for 3.5 months and then reviewing for 2 weeks.