Level 2 - Life Advice

Hey all,

So I will be graduating this May and taking the Level I exam in June. I start my first job two days after the exam. My girlfriend of three years and most probably future wife will be back in school starting in August (3 hours away) and I know will be visiting her close to every weekend.

Here’s my question: What are your thoughts on taking 2 years to study for the Level II exam (assuming I pass L1)? A full year to study seems like it’s doable, but judging by the fact that I will be starting a new job and will be talking to my girlfriend and visiting her a lot when not at work, I feel like going for the Level II immediately would be incredibly stressful. I know the material changes every year, but not by that much, right? Cost factors aside, what are your thoughts on taking 2 years to take your time to study the Level II material in depth?

Yes, I know I’m getting ahead of myself, but I like to think ahead and try to envision a rough outline of the future.

Thanks everyone!

I wouldn’t do it. The material changes every year, so what you learn this year may not be applicable next year. (Most of the big stuff–discounted FCF valuation, pension plans, and swap valuation–probably won’t change much.)

Second, as long as you start early (September-ish) and stay diligent (3 hours per day, M-Th, and on the weekends when you don’t visit her), you should do fine.

But you have to actually study every day, or at least almost every day. But I don’t think spreading it out over 2 years is really the answer.

Honestly when I did L2 immediately after the December L1, I felt like it was a pretty big advantage to have the L1 material fresh in my mind. But I really wanted to crank out these levels and that’s not for everyone. In fact, I had a similar situation with my girlfriend of 4 years living 2 hours away, but we ended up breaking up a few weeks before the exam soooo…yeahhhh…

rayankh - Greenman hits upon the crux of the matter - there is a certain level of intensity required and it builds up naturally as you approach the exam - spreading it over two years seems like wasting your time away - it’s better to take it and fail and then retake.

Just my 2 cents …

Disclaimer: I just passed level 1 and am taking level 2 in June with a lot on my plate besides the CFA - the hardest part is just doing it every day - rain or shine …

Hmm, I guess it would make sense just to go about studying for what I can and take the Level 2 in a year. If I fail… then there’s that extra year I wanted, eh? :smiley:

I guess that’s the plan then. Let’s hope I pass Level 1 first!!