I know the CFA vs GMAT question has been asked repetitively on this forum, but my question is a bit more specific as to the timing, so please don’t hate.
I am aiming for starting MBA in September 2014. I will be taking the CFA Level 3 in June 2013 for sure. Now, should I study for/take the GMAT this Sep-Nov (giving myself 2-3 months to study for it) or right after the Level 3 exam in July-Sep 2013?
The basis for my question is I’m not sure if I should give myself from this September to study for CFA Level 3 or if starting the studies in Jan 2013 is enough to pass in June 2013 (obviously depends on my aptitude and varies for everyone, but assuming I have an IQ level that is the norm for people who pass the CFA successfully). At the same time, I don’t want to be cutting it close to admission applications deadline in Oct 2013.
i had the same condition 4 years ago , but i was going for a Phd. I focued on both till jan, then only CFA from jan to june , then the GMAT alone from june to october. (including my day work)
following this strategy i passed level1 , and got a good score on the gmat, the only risk is that u r just before the MBA deadlines which are in jan - feb for good schools.
I think a lot of people go for quantity of study time instead of quality of study time. I spent ten days preparing for the GMAT… (registration options that were available then were 10 days away, or many months away), spent pretty much every moment after work preparing for those days (using sample test software provided by my employer), and spent every moment of the weekend preparing. Walked out of the exam room with a 720 (96th percentile).
I think the freshness of the material and having it be the sole occupant in my brain at the time made it way easier. If I studied for months while doing other things, it probably would have consumed much more time, and been far less fresh in my mind on exam day.
Just a suggestion, everyone has different study methods and should use whatever works best for their style.
I think overall my scheduling was good, but had two issues. First, taking the GMAT in mid-December didn’t give me enough of a rest before I had to begin studying for Level 2, so I ended up pretty burned out and found it hard to ramp things up to study for Level 2. Second, this method put a TON of pressure on me to pass this year, because if I didn’t, I wouldn’t be able to take Level 3 again until after B-school. Thankfully, it all worked out well and I’ll be starting school in a few weeks!
If I could do it all over again, I’d have taken the GMAT at the beginning of November and started studying for Level 2 February 1. As others have mentioned, GMAT doesn’t even come close to comparing to CFA Levels 2 or 3. Granted, I’m a good test taker, but my GMAT preparation pretty much consisted of a month of CFA-style hardcore studying and I got a 750 (98th percentile). I don’t say this to brag but to stress that the GMAT requires far less studying (less content more how you think).
Just take the GMAT ASAP you feel ready for. You want to take this out of way. While responses here are positive on how easy it is, I know 3 charterholders who struggled in the GMAT. One scored a mediocre score after writing it 2-3 times and 2 others gave up. They all were pretty smart people (I guess). If this is what your long term plan is, get it out of the way.
I had a different story from most. I went to college for two semesters, dropped out, then joined the military. I finished my bachelor’s as I was getting out.
After a couple of unsuccessful retail finance jobs, I decided I wanted to go back to school. (JP Morgan’s analyst jobs said “MBA preferred.” BTW–when they say that, they should add the caveat that “MBA from University of Phoenix need not apply.”) Slowly, I began to realize that my BA in Spanish, five years in the Marines, and zero business world experience wasn’t exactly the candidate that NYU and MIT was looking for, so I didn’t study for my GMAT–at all. I didn’t even know what to expect. I took it and made a 560–right at the national average.
ddrobinett, did you forget your ser & estar rules!!! Always use Estar for location!!! Also you used Era which is the imperfect form of ser when the imperfect subjunctive form of estar should be used. =) I was also a spanish minor. (Also Cuban/Spanish American)
Haha, or Jaja as in Spanish. I was just kidding anyway. I live in the Mid-west so I hardly get to speak spanish unless I am in Miami. It is easy to forget.
BTW–who studies for four months for a GMAT? Is that normal for all you smart, driven, Ivy League-and-equivalent types? I didn’t study for it at all. I literally went in with zero preparation. Same for my ACT. I scored in the 91st percentile for ACT and in the 50th percentile on GMAT. (When I took the GMAT, I had just gotten out of the military. My brain had atrophied.)
