Time Vs Working in the field

Guys i have a decision to make and i would appreciate some advice, quick! At my current job, i have a lot of time to study, i.e. i leave early and i have the rest of the day to read the material… etc. However, almost nothing is related to what im studying in CFA. I recently got a job in Investment Banking. The manager who interviewed me for the job made it clear that its a demading job and it requires staying at work for long hours. Yet, obviously my work shall be very much related to what im studying in CFA. Now im confused, whether to switch and be exposed, or stay where I am and clear the CFA then make my move. Some input is very much appreicated, specially from those who took lvl2 and knw the amount of dedication it requires…

I think you should take this job and forget about CFA. Think about this: why do you need CFA? Isn’t it just for a better career? If this is a job you’re interested and you wouldn’t want to switch after you finished all CFA exams, you should take it now and forget about the exam. What’s the point of taking the exam if you already get the job without it?

Usif I am sort of in the same boat with you. My job is too easy at times and I find myself with more time to study for the next exam. I am in the job market too and realize that it is possible that the next job I land may require more of my time. Like Chaucy1999 says if you decide to move into IB then I don’t believe that the charter will matter anymore. However if you plan to move back into asset management or something then continue with your studies. Good luck!

Take the job. I’m not working in the industry, but I’ve passed the CFA exams. Personally I’ve found it easier to pass the exams than to get the experience, so if you have a chance to get the job you want go for it. You can always return to the CFA program later, it’s not going anywhere.

I would say if possible, take the job, and see if you can also take the exam, lot of people in this board are full-time investment banking professionals and they do both; its a bit tough but I am sure its worth it. If you really think you can’t handle both at this time, I would suggest go for the job. Like JonnyDee pointed out, you can come back to CFA later (may be Level II in 2009 instead of 2008 after you have settled down in your job a bit and learnt all the rules of the game). Either way, best of luck! -ron-

Ditto. Take the job. The CFAI doesn’t pay candidates very much at all.

I often wonder why people here put career aside for CFA… it honestly doesn’t make sense. You need to go for the best job possible and then spend any second you’ve got on CFA. Not the other way around.

Yeah mate I dont know about that, I’d say the qualification will stand you in good stead for the rest of your days. Whats the rush to get in there and get experience? Once you have the qualification, you are going to do nothing but rack up experince. I say go for the qualification while you still have the inclination and worry about the experience later… or better yet, do both. PS: just passed level one in June. (working for 6 years though)

take the job. I work fpr an IB and work with people who have cleared all of the CFA exams whilst working some serious hours. It may take you longer to pass given the time constraints but at least you will be able receive your charter when you do because you have the relevant work experience requirements. Also, it gets significantly harder to enter the IB industry the longer you leave it so get in while you can.

Thank you guys, your thoughts are very insightful. I decided to take the job. As many of you pointed out, IB jobs aren’t easy to get. And, correct me if I’m wrong, but i have a feeling that once you apply what you’re studying, it helps you in your studies even though you dont have much time to crunch the material thouroughly. I’ll try my best to study for the exam (already registered for lvl2 08). I have the books and started going through them yesterday. I guess (& hope!) i have enough time to prepare even with a demanding job… yet i’ll have to kiss my social life GOOD BYE!

I-Bankers don’t have a social life… So if you plan on studying, you can kiss what little time you have left in the day (usually reserved for sleeping) good bye!! Just playin’! Congrats on the job, and BTW you’ll learn more on the job than you’ll ever pull out of the curriculum. Regardless if you choose to pursue the designation or not, you’re laughing! :wink:

I had a similar situation – I had a job I was bored with and started to study for L1, and about a month before L1 i got offered a better, harder, job that demanded a lot more time. I still passed L1 last june because i was almost done studying anyway, but I’m going to have a lot more trouble with L2 now that I am in a more difficult role. BUT, i think i made the right choice – career is more important than a test to help advance your career. I am now in the type of job I would have wanted the CFA designation to help me to get…

Glend… U made me pull my hair for a sec there buddy! =) & thanks ! Mike… I’m glad you’re doing something u like… I’m starting work next Sunday… I have mixed emotions, stress with a touch of excitement!

take the job and forget the cfa. experience is more important, you can always take level two later but employment opportunities are rare.