Anyone Thinking About a Break?

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ginandtonic

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So like many of you guy’s on this forum I am pretty confident about passing level II this time around (failed last year quite badly). Did well on mocks, put in the hours, PM section was maybe a bit tricky but still felt pretty straightforward overall. That being said, I really do not plan on writing level III for 2017 for a few reasons listed below;
(1) At this point in time I am really not interested in the material at all, and studying 300 hours for the exam is a huge grind. This was not the case coming out of undergrad.
(2) I feel like the short-term cost/benefit simply is not there. In my opinion possibly getting the charter next year versus getting the charter in 2-3 years will not make a significant difference in the long-term. To me it seems like the value of the charter is gained in the long-term, employers don’t care whether you have passed level II or any other level for that matter.
(3) I want to take the time to do things that are probably more worthwhile for me at this point. Some of it career oriented and some of it not.
Anyone else who wrote level II have similar thoughts? A lot of negativity surounding the charter at this moment (bloomberg article) and much of it is warranted. To summarize; 170,000 candidates, less than entusiastic recruiters. When you are in an oversaturated market like Toronto this is especially true.
 
It’s a personal choice. Everyone’s goals and circumstances are different. If you think you need a break, take one. The CFA program will always be here.
 
40 now. Taking a year off is tempting. If Level II / III were offered in Dec, I might do 18 months instead of 12. But 24 months feels a bit silly at this age.
But will definitely be spending a lot of free time outdoors till the fall.
 
No break. ¡Hasta la victoria siempre!
Regarding Bloomberg…Dogs bark and the caravan moves on..:)
 
Hi Ginandtonic,
Unfortunately I don’t feel as confident about passing level II, but I thoroughly enjoyed the material and if I have to, I don’t mind retaking level II and then level III, so no breaks for me.
But, I do understand were you coming from, I’m expecting a baby boy in September :) :) and I am stupidly excited about his arrival and naturally skipping a year has crossed my mind, but I know once you let one year off, things come up and you start delaying.
In your case, you said you struggled with the work. Which means if you found it a grind now, how would you feel getting motivated one or two years down the line. Also remember if you wait two or three years. The course material could have changed quite a bit, which just means the information you have learned in the last two years might not overlap as nicely causing level III to be a tad more difficult.
Personally I would commit and get it done, unless you feel heavily burnout and just won’t absorb anything.
Considering the negativity around CFAI, personally I think story was terrible. I think Bloomberg should retract the article and do a proper job. CFAI should get involved.
Good Luck
 
Genuinely feel like taking a break also. FIrst time doing level 2. think i passed but i was so nervous about it due to advice from charterholders that i gave it my all. stil feel physically and even more so mentally drained. in no rush to go back through this
 
Me gusta España. Me gusta Cuba. Me gusta La Hispano America ( esta es la única América que Yo amo ) No hablo bien el español. Comprendo un poco.
 
I would debate it, but if I pass L2 then L3 times up perfectly to my GF finishing her masters so that would work out well study-wise. Kind of just want to get it overwith and OP i think after a few weeks of relaxing you may think of it differently. I remember how burnt out I was after L1 but after a few months I was ready to go again.
 
I don’t know what they mean by employers not asking for a CFA (yeah, if you look at the economy overall, 95%+ would have no need for a CFA. Like why do you need a CFA to move boxes at Walmart. And knowing how statistics in real world work, that s probably what is happening), But from my personal experience looking at job postings, many put a CFA not only in a desired, but also in the required field. In some cases, I have also seem er’s asking for “at least Level II passed”. And I am talking about asset management specifically, any roles in AM (mostly equity as an asset class). So BBG and other stats have no clue what they are saying. Companies for which knowledge of the concepts tested in the CFA trully matter are pretty much througout asking for it. Even in Russia the certification is a “UUUUUGGGE” (c) advantage.
And the salary stats is bullshit - just as most of the stats in general. Do they look at ppl who end up not getting a job b/c they didnt have a CFA? Of course not. But it is a common sense that nowadays all else equal er’s will pick a person with a CFA. And there you go, at least $60k value of a certiicated. cause the other person would have to stay on wealthfare.
so stop believing these dumb stats and try to value the certificate for yourself. do grass roots research, look at the companies and roles you would like to apply to and see if they mention the CFA. if you want to be an analyst, I would guarantee that over a half would like to see you having the certificate (or even seeing you in the process of obtaiing it)
Cheers
 
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