Just thought I’d share a bit of my story and some real-world consequences of having passed all three levels. Sorry if this is in the wrong forum.
I started the whole process of becoming a CFA about 3 years ago by doing some research into the program, browsing through some of the material and reading the forums, but it wasn’t until about 2 years ago until I actually started to commit. For starters, I don’t have a traditional finance in background and actually majored in Real Estate and Construction with the intentions of working for a developer or REIT in Denver. My (now) wife convinced me to instead look for work in NYC which eventually led me to work for a commercial real estate financial services company. Through that position (in operations) I gained some exposure to the finance side of the business and eventually took the dive into the CFA program to help move my career into a different direction.
About half way through the program my company was subject to a hostile takeover which led to some restructuring. That disruption in the company, in addition to an MD and Director taking notice of my interest in the CFA program, eventually landed me in my current role which focuses on business development for the firm. Day to day I am working on raising capital for the firm, structuring JV’s and CLO’s and managing a number of different proprietary loan programs using balance sheet capital. I am key contributor to the company’s overall strategy and get involved with negotiating deals, creating appropriate hedging structures, and so on. None of this would have occurred (IMO) if I didn’t start the CFA program.
And finally–to my post’s subject–right after giving news of me passing L3 my manager gave me a small raise and took me out for drinks. I’m still waiting for them to respond to my reference requests (hahah) but I’m guessing the actual title won’t matter–just the fact that I passed. All-in-all the program was well worth it for me, but it sucked up a lot of my time and I had to make a lot of sacrifices in the process (as I’m sure everyone is keenly aware of).
And with that I am officially signing out. Good luck everyone!