Need career advice

So it seems, that my tenure with the current employer has an expiration date (change of wind, dept wiped out). Am pretty devastated but… need to look into the future…

What confuses me right now are, among others, two issues:

  1. I was about to apply for the membership but am totally confused now as to which local society I want to go for.

First I chose one foreign society since they have a decent job database for members. I thought it would be a nice extra in my case. I used that database in the past and must say it is pure IM, so not so great for myself but from time to time there are chances (which never materialised for me). Travel to networking events (and there are plenty of) is largely out of question as abroad, expensive, etc.

The other possibility is to apply with the local society. It costs me less to nothing in travel expenses to attend the local events. But it is a smaller society and the database of jobs they offer is barely non-existent.

  1. Timing my job search around the CFA Level 2 exam. SHould I even consider taking the time off to prepare in my situation? I was pretty close (Band 9) this time but should I even bank on taking a 1-2 month off job search to focus. The upside can be decent, passing level 2 is valuable but I need money and the risks of a non-pass are high too.

I would be grateful for the insights.

I’m in the same situation. I’m studying and trying to job search, but both at the same time are sorta taking away from each.

If you can afford it I’d take the next months off to purely study, but treat it like your job and make sure you pass. Then on June 2nd kick the job hunt into gear.

^ I can appreciate this point of view, but from my perspective the amount of time it takes to find a job is non-trivial. Oftentimes you need to work your networks to even get leads, since opportunities are often unpublished. You should be handling your job search in tandem with your CFA studies, or otherwise prioritize your job search. You will have a huge gap in employment if you wait that long and not get a bit lucky.

I also would not stop job search for CFA studying. Every extra month unemployed or non relevant experience pushes you away. Passing cfa exams are not as powerful as people perceive

The next exam is 6 months away. If you are unemployed, there should be ample time for both a job search and studying. I don’t see why this is an either-or kind of thing.

Totally agree with Numi, Iteracom and Bchadwick. You should be able to do both as the closest exam date is like 5 months away, and if pressure is too much for you and you are having troubles with striking the balance, get a job first. Every month of unemployment seriously hurts your employment prospects and negotiaing power (it’s coming from a guy who passed all three levels of exam before taking up a job because of misplaced priorities and inflated expectations, and had to start at bottom at shitty pay because there was no relevant exp. on resume).

Thanks, everyone. After I stop working for my current employer, I will have 2 full months to prepare.

I find it very difficult to combine the job search with the CFA studies and I can explain why. While 50% of the material is useful for the jobs I aim at, and I will keep revising it before going to the interviews, there is always an additional twist with every targeted employer… And this takes an awful lot of time, I don’t know, maybe it is a regional thing and it is easier in other countries. I can certainly start with these 50% combining it with the job search and see how it goes…

I have already gained the CFA relevant experience, i.e. it is not confirmed yet, but I am pretty sure it will be. I would hate to start at an inferior position but the pressure is not as high as if I had no CFA-qualifying experience.

Money is an issue in my case though, I need a job the sooner the better.

Damn… I feel like I am cursed to never pass Level 2!

L2 is a beast.