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But it’s still better than not doing L1 I presume? I’ve gotten “why haven’t you done any CFA yet” questions during interviews.former trader wrote:
You can mention you passed L1 but it means zilch.
Well, greenie to see it on the other side, you don’t have to put when you passed L1, so if a hiring person asked, someone could say it was “recently”Greenman72 wrote:
Question - when you say “only completed Level 1”, do you mean “Completed Level 1 last year and haven’t taken Level 2 yet, but I’m intending to?” Or do you mean, “completed Level 1 six years ago, and never intend to keep going?”
If it’s the first, then there’s probably some value in showing that you passed Level 1. If nothing else, it shows that you’re not content to rest on your laurels, but rather, than you have some drive to continue to develop your professional skills.
However, if you never plan to take Levels 2 and 3, I wouldn’t put it on your resume. If I were a hiring director, and I saw that a guy passed Level 1 some time ago, but never passed Levels 2 or 3, I would immediately start wondering why not.
I’m not saying that any of these necessarily apply to you, but I’m sure you probably don’t even want to plan the seed in the hiring director’s mind.
- Are you too stupid to pass the rest of the exam, or are you just too lazy?
- Why did you start something and not finish it? Will you do the same at my firm?
- When the going gets tough, do you just quit?
- If you’re not capable of passing Levels 2 and 3, then how did you complete your “Top MBA”?Did your daddy buy it for you?
- Exactly how serious are you about being in finance, if you can’t/won’t take the test?
- Are there forces in your personal life (sickness, kids, girlfriends) that are keeping you from taking the test? Will they hinder your work performance too?
What responses from those that hadn’t passed CFA level 1 yet did you receive most positively?itera wrote:
Well, greenie to see it on the other side, you don’t have to put when you passed L1, so if a hiring person asked, someone could say it was “recently”Greenman72 wrote:
Question - when you say “only completed Level 1”, do you mean “Completed Level 1 last year and haven’t taken Level 2 yet, but I’m intending to?” Or do you mean, “completed Level 1 six years ago, and never intend to keep going?”
If it’s the first, then there’s probably some value in showing that you passed Level 1. If nothing else, it shows that you’re not content to rest on your laurels, but rather, than you have some drive to continue to develop your professional skills.
However, if you never plan to take Levels 2 and 3, I wouldn’t put it on your resume. If I were a hiring director, and I saw that a guy passed Level 1 some time ago, but never passed Levels 2 or 3, I would immediately start wondering why not.
I’m not saying that any of these necessarily apply to you, but I’m sure you probably don’t even want to plan the seed in the hiring director’s mind.
- Are you too stupid to pass the rest of the exam, or are you just too lazy?
- Why did you start something and not finish it? Will you do the same at my firm?
- When the going gets tough, do you just quit?
- If you’re not capable of passing Levels 2 and 3, then how did you complete your “Top MBA”?Did your daddy buy it for you?
- Exactly how serious are you about being in finance, if you can’t/won’t take the test?
- Are there forces in your personal life (sickness, kids, girlfriends) that are keeping you from taking the test? Will they hinder your work performance too?
The rest of your points I agree with
When I interviewed a bunch of people for equity research, I will ask if they are in pursuit of CFA, and if not, definitely will ask why. I think buyside it’s even more relevant (entry and approaching mid level).
At the senior levels above associate, it doesn’t really matter anymore,
If I’m interviewing somebody who put “Passed Level 1” on their resume. I’m gonna ask them how long ago that was. If they say, “Recently”, I’m going to ask them to be more specific. “Oh, like in December or in June?” And if they don’t answer it directly, then that will be a ding against them.itera wrote:
…you don’t have to put when you passed L1, so if a hiring person asked, someone could say it was “recently”
What’s odd is that a number of MS Finance programs state that upon completion you will be prepared for L1. That’s it, 1-2 years of your life and tens of thousands of $$ so you can take L1 of CFA.higgmond wrote:
Passing L1 proves that you “mastered” what you should have learned as a finance undergrad, plus a few other topics. If you don’t plan on going further in the program, that makes you no different than any other job candidate with a BS in finance.
They could lie though, and I’m 98% sure you wouldn’t bother writing to CFAI asking about when exactly they passed L1. And plus they could say family issue, fell ill, taken hostage by elves, etc.. and then what would you say?Greenman72 wrote:
If I’m interviewing somebody who put “Passed Level 1” on their resume. I’m gonna ask them how long ago that was. If they say, “Recently”, I’m going to ask them to be more specific. “Oh, like in December or in June?” And if they don’t answer it directly, then that will be a ding against them.itera wrote:
…you don’t have to put when you passed L1, so if a hiring person asked, someone could say it was “recently”
I think a better approach would be not to put it on your resume, but to state it in the interview, maybe as a question. “You know, I didn’t put it on the resume because I haven’t finished it yet. But do you think that to finish the exam would be looked at as a benefit to this company?” It gives you a talking point, and shows that you’re willing to put in some work to be successful.
I don’t have an MS Fin myself, but I suspect you are prepared for a bit more than L1 when you’re done.Lea124 wrote:
What’s odd is that a number of MS Finance programs state that upon completion you will be prepared for L1. That’s it, 1-2 years of your life and tens of thousands of $$ so you can take L1 of CFA.higgmond wrote:
Passing L1 proves that you “mastered” what you should have learned as a finance undergrad, plus a few other topics. If you don’t plan on going further in the program, that makes you no different than any other job candidate with a BS in finance.
True, but in my case, MS Finance also gets you a degree, which can be important if you need the actual diploma or college credits (as in, for the CPA exam).Lea124 wrote:
What’s odd is that a number of MS Finance programs state that upon completion you will be prepared for L1. That’s it, 1-2 years of your life and tens of thousands of $$ so you can take L1 of CFA.higgmond wrote:
Passing L1 proves that you “mastered” what you should have learned as a finance undergrad, plus a few other topics. If you don’t plan on going further in the program, that makes you no different than any other job candidate with a BS in finance.
You certainly don’t NEED to put it on your resume, there is nothing compulsory regarding your CFA status.ishkurti wrote:
I would not put that on the resume, for sure. And if the interviewer is a cfa charter holder, I’d just mention it if I was already registered, without reasonable interruption, to take level 2.
I feel if one deliberately has to make note of level 1 pass up, one does so because of the lack of solid credentials otherwise. Different thing to be asked about it or if the job requirements clearly state a preference for cfa exposure.
To those saying Level 1 is the hardest, meet Level 2. And on level 3, you also have essays.