Advice for those who did NOT pass today...

Greenman72 wrote:
Maybe one difference between Higgmond and I is the fact that he’s already put the CFA exam behind him. I, on the other hand, am entering tax season, have a pregnant wife, and I know that the test is not long after April 15. So maybe I’m just feeling more pressure than him right now.
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GreenMan, it’s understandable the pressure you are feeling. Good luck this June and congratulations on your new baby.
 
Fantastic post by Greenman. I am not surprised that people dont know how to respond, when all they are used to hearing is not to give up and pompoms and rah rah rah.
The CFA exam process - the minimum three or likely more exams - is a sadistic and painful test in short term memory. The value it holds is obviously because it is so difficult that only a few are committed (and/or talented) enough to see it through. It holds a lot of value as a result, no doubt. But it should not be a given that going for the deisgnation is right for everyone in every situation. I would venture to guess that nearly everyone who registers forfeits more life enjoyment as a result than comes back to them for using the designation the rest of their lives. It is a losing deal.
I did CAIA and CFA L1 so far, and I started at 30. I am 35 now. These exams have been a cloud over my life all these years. Greenman started at 29 and is 33 now, and it sounds like he feels the same. If I would have know then what the real cost was, I would never have taken any of these silly exams.
 
yodacaia wrote:
I would venture to guess that nearly everyone who registers forfeits more life enjoyment as a result than comes back to them for using the designation the rest of their lives. It is a losing deal.
…..
If I would have know then what the real cost was, I would never have taken any of these silly exams.
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I think this is quite an important point. As analysts we spend a lot of our time doing some form of cost/benefit analysis, yet we rarely turn it on ourselves. Is the 1,000+ hrs we spend doing the CFA really worth it? Some people then suppliment that by doing FRM, ACA etc. Are we keeping sight of the end goal, or just doing these things for the sake of getting the letters for our own ego?
Having read about all the sacrifices people make, and knowing what a pain studying for level 1 was, I’ve decided to take a break from CFA and focus on my career and try to enjoy life. Maybe i’ll take L2 in 2014, but i’m yet to decide whether the cost outweighs the benefit.
 
Greenman72 wrote:
Maybe one difference between Higgmond and I is the fact that he’s already put the CFA exam behind him. I, on the other hand, am entering tax season, have a pregnant wife, and I know that the test is not long after April 15. So maybe I’m just feeling more pressure than him right now.
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If it makes you feel any better, my wife was pregnant when I finally cleared L3. Perhaps that was the motivator that pushed me over the top as I knew there would be no way I would be able to put in the time needed the next year with an infant in the house.
 
people sometimes mistake an abundance of responsibilities for lack of motivation…sometimes it is quite the contrary. nothing demotivates more than idle hands and broken minds.
 
Alladin wrote:
people sometimes mistake an abundance of responsibilities for lack of motivation…sometimes it is quite the contrary. nothing demotivates more than idle hands and broken minds.
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more adversity greater the motivation
 
Alladin wrote:
people sometimes mistake an abundance of responsibilities for lack of motivation…sometimes it is quite the contrary. nothing demotivates more than idle hands and broken minds.
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Well said, Alladin. Well said.
Thanks for the congrats, everyone. But just so you know, my wife was pregnant when I took Level 2 the first time. I passed Level 2 (the second time around) with an infant. I am studying Level 3 with a toddler and a pregnant wife. I know I can’t do this again, so I’m studying everywhere I can find time.
Just FYI–when I started studying for Level 1, we weren’t even married yet. We had no kids. We rented an apartment, and I was a junior-level associate. Now we own a house (along with all the problems associated with owning a house), have our second baby on the way, and I am a manager (along with all the problems associated with being a manager).
Just food for thought, for those who don’t know how long this process will really take you. Just think–where will you be in four years?
 
Greenman, mind if I ask how old are you? I can see things happening with many others of similar nature. Life has to move on along with studies and everything.
 
I just turned 33 a couple of weeks ago.
Also, let me state–I’m tired of studying. I started a part-time MBA when I was 27. Started going full-time at 28. When I was in school, I took 12-15 hours per semester (9 is full-time in grad school). Right before I turned 29, I failed Level 1 of CFA. Finished MBA at 29, and immediately started CPA exam. Finished CPA exam in September, and went straight to CFA Level 1 in December. Did Level 2 six months later, at 31, and failed. Did Level 2 a year later at 32 and passed. If I pass Level 3 in June, I will be 33, and it will be the end of seven years of study/school/overtime.
 
Thanks for your detailed input GM. Much appreciated. Coming from someone who has infact gone through the struggle is worth taking into consideration. I happen to have a professional qualification too, ACA equivalent to CPA, I am 25 right now and I plan to get a Charter before I turn 30 but in the meantime I have similar plans for life, i.e getting married along with focusing on career / job. We must look at all aspects of life and how it affects our results. You have put things into perspective.
 
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