Taking an extended leave of absense from candidacy

It’s been a while since I even visited this place. I suspect a few of you remember me, I’m probably new to most of you (though a few OP’s are familiar names) Just curious to how many of you are taking an ‘extended leave’ from the CFA program? After I failed LIII last year for the … uh… 4th time I decided it was time for me to throw in the towel for a few years and focus on other things. My wife gave birth to a healthy baby boy back in February. While I truly enjoy being a father, I can’t imagine sitting for the CFA while trying to raise a newborn. Hats off to those of you that have done it. It was only a few weeks ago that I feel like I was getting a handle on things with the little guy. So in the meantime, I’m at a career crossroads. I work as a consultant on the buyside with a vendor and while I have great contacts in the biz (some of my contacts have been involved with CFAI for decades) I’m not sure how much longer I want to work here. I’ve been at my job for over 10 years now and while it’s leaps and bounds different than what it was when I started, I’m not challenged enough. I’ve looked at businesses that are slightly outside the asset management industry but I’m not getting many bites. Also, I find it quite … interesting … that CFAI threw a survey at me asking why I didn’t register for LIII this year. I really let them have it. I’m sure I wasn’t the only one. Anyway, just venting. I know you guys are a good crowd.

Dunno what to say man. I know there’s a couple like you who for some reason keep running into problems with LIII. It’s obviously not an aptitude or work ethic problem as A) you’ve taken it four times and B) you managed to pass L I & II (in my mind, LII was the hardest). Just something about the format is messing with you, so I’m not sure what to tell you. It’s not an easy situation to be in I imagine, definitely a hard decision to make, whether it’s fruitless to keep pushing, but at the same time, wanting to finish. If you’re like me, walking away will gnaw at you a bit, but at the same time, we all understand the concept of sunk cost, and sometimes developing tunnel vision and obsessing on something like this can cause your life to pass you by (we only get one and they seem to fly by). Anyhow, I don’t know what to say, but best of luck with the decision and let me know if you need any CFA related help.

If it was me, I would just dump the CFA program. It seems like your pursuit of the charter will meaningfully affect your quality of life. However, the benefits of the charter are questionable at best. Anyway, good luck and hopefully, you will come to the right decision given your current circumstances.

Sorry to hear, CPierce. I always liked your posts, and clearly that much effort deserves some reward. Were you in a band that was close to passing last year? Were there particular topics that were really bad for you, either that you knew going in or that it turned out to be bad when you got your results?

C: Right now (less than 4 weeks to go) I am jealous of you. I am dying right now. I understand your frustration as it took me 4 times to pass level 2 and I felt no better walking out of the 4th attempt (maybe even a bit worse) than I did the previous 3. I guess my blind guesses were better the 4th time around. Keep throwing out the feelers on the job front. You never know what will happen. I have my current job as a result of a tennis match. The people I work with come from all over the map. Real estate development, banking, private equity and a navy SEAL. The harder you work, the luckier you will get. Good luck with the little one. I have 2 (older, 13, and 12) and it gets easier, trust me. At least until they get a license and a stoner buddy. I keep my fingers crossed.

Congrats on the kid. From there, I think having l2 would probably position you as well for the types of roles you’re looking for (not investment management) as passing l3, and if you’re getting into entry level am stuff it won’t be a dealbreaker. I’d sit tight and try to move to where you want to be. Focus on it buy and keep networking with those people when possible. Maybe try to look for people with similar profiles on linked in that have made the jump and try to meet with them to glean their insight.

I am a current L3 getting ready to take it my first time. If you dont mind, what was your ratio of Schweser to CFAI Text? And also, do you feel like you had enough time to prepare or did life get in the way?