So I’ve been in the process of making moves towards getting a new job that’s more relevant to finance. However, I don’t want to be learning a new job + longer hours during the crucial last study months of L2, so I gave myself a deadline to make a move before March. That means if it takes longer than expected to secure something, I would stop looking by mid-February and focus on the exam, then resume after June. However, I’m hesitant about doing this, since I’m anxious to leave my current position and begin accruing relevant experience (although the hours are great for studying). Has anyone had any experience with starting a new job during your study period? I had a very smart friend fail L1 because he had just gotten a promotion mid-way through his studies and the learning curve threw him off. Thoughts?
Uh, your job is more important than the CFA.
Agreed. Which is why I don’t want to start something unless I give it 100% - but since I’m registered to take L2 in June, I’m afraid this would also mean reduced quality study time. (Long hours/learning curve at a new job + crucial study months = bad exam outcome) My question is basically, do I pause the job search until I take the exam (I’m already employed), or have others been successful with the learning curve of a new position while effectively studying and passing.
depends on what the new job entails? i started my new job in jan as a buyside analyst while i was getting ready for lvl 2. Ending failing lvl 2 since i was putting more effort and time into my new job then passing the test. My advice is get a new job as soon as you can. CFA will be around next year and many years after that, but new job opening is much more uncertain
agree with ohai think of it this way man, if you want and/or obtain a better job and you are offered on you have no certainty that this will happen again in the future …when you’re ready, the timing is right, etc. However the exams are to take place and are scheduled to occur every year. Worse case with your potential new job you stop looking and or reject an offer. You pass l2, but you are either not employed or you can’t find something that is relative to the material, that you are happy with etc. You write level 3 and you can’t obtain work experience … You find and/or accept new employment, despite your best efforts you must retake level2 because it wound up being too much. Not to get all cfa’ish on you but it sounds like your payoffs are asymetrical
PallasAthene Wrote: ------------------------------------------------------- This happened to me last year. I got promoted mid-Feb 2010 and totally dropped the ball on Level 2 prep. I could only muster up 1.5 months of solid prep time and failed. Anyway, job pays your bills and CFA is one of those bills. Job 1st.
PallasAthene Wrote: ------------------------------------------------------- > Ok first of all, your logic is confusing. You are concerned that the responsibilities of a new job will detract from CFA studying. However, your question is whether you should continue your *search* for a new job in the months leading up to the exam. So the only way that these two statements connect is that you are certain that your job search will be successful during these months (i.e. job search = new job), which is not a good assumption. But anyway, the answer that most people will agree to is that if you should prioritize a good job opportunity over the CFA exam. You can take the CFA any year. However, good career opportunities typically do not come every year.
PallasAthene Wrote: ------------------------------------------------------- > That means if it takes longer than expected to > secure something, I would stop looking by > mid-February and focus on the exam, then resume > after June. However, I’m hesitant about doing > this, since I’m anxious to leave my current > position and begin accruing relevant experience > (although the hours are great for studying). I hear you man. Im in the same boat. My current role with this company ends this summer, so I am trying to secure a position that I plan staying with for at least the next 3 years. Its almost crunch time though. As gets closer to the exam, my search efforts will dicipate until after the exam. I think a job is more important to CFA, but at the same time the CFA is going to help open the doors that I want to walk through. Its kind of a catch-22. All I can do at this point is prepare myself the best I can for the opportunities that lie ahead. Once L2 is behind me the search is on like kong!
I got a new job last year and started around the end of March. I also had a 2 week trip to Europe with my family in the beginning of March. I really dragged my feet going into studying because I was too focused on finding a new job. Ended up busting my butt for May, but also had to travel for work in that time so couldn’t go 100% all the time. Got to the exam after a solid week of cramming and thought I completely bombed the test. well… i was kind of right. Ended up being band 10 with Alts being the only section <50%, and FRA the only big section 50-70%. I had to have been only a question or two away. At the end of the day though I wouldn’t have changed a thing (other then putting in more time on the front half of the studying). I hated my old job, and missing L2 the first go round was worth it to set me up in the position I’m in now. At this point in studying I’ve already covered about 8 study sessions and have covered my 3 weakest spots with weekly check ups on it. I ain’t lettin this bia beat me twice I’ll tell you that much.