I’ve read these message boards for years as a candidate and I never really felt compelled to post anything, but after passing Level 3 last year and earning my CFA, I thought I’d share my experience. I doubt I’ll check these boards much going forward (why would I?), but I was curious to see what people were saying just a few weeks left until the exams. It’s the 1st Spring I am study-free in years!
The CFA exams are brutal. I passed Level 1 on the 1st attempt, Level 2 on the 2nd attempt, and Level 3 on the third attempt. I have no secret sauce to share…just study hard and see what works for you.
I spent 6.5 years in equity research at a middle market investment bank and I have spent the past 1.5 years at a $2B aum long-only asset manager on the investment team. When I joined my current shop, my boss/PM made it clear that he wanted me to finish the CFA (I passed levels 1 and 2 at that point). I was the only one on the investment team without an IVY league MBA or CFA. My title was also “equity analyst” when all other analysts had the title of “senior equity analyst.”
As soon as I passed Level 3 and was awarded the charter, I talk to my boss and he gives me the title of “senior equity analyst” and a $20k raise (my base salary was already in the six-figures).
Bottom-line: I’m getting paid more as a direct result of passing the CFA! I interviewed with many other buy-side shops and experience is what they valued…not whether I had passed any level of the CFA. The hardest part was making the move to the buy-side from the sell-side. Most places I interviewed with (including CR Intrinsic/SAC, Surveyor/Citadel) ended up hiring folks with prior buy-side experience.
The CFA exams are brutal. I passed Level 1 on the 1st attempt, Level 2 on the 2nd attempt, and Level 3 on the third attempt. I have no secret sauce to share…just study hard and see what works for you.
I spent 6.5 years in equity research at a middle market investment bank and I have spent the past 1.5 years at a $2B aum long-only asset manager on the investment team. When I joined my current shop, my boss/PM made it clear that he wanted me to finish the CFA (I passed levels 1 and 2 at that point). I was the only one on the investment team without an IVY league MBA or CFA. My title was also “equity analyst” when all other analysts had the title of “senior equity analyst.”
As soon as I passed Level 3 and was awarded the charter, I talk to my boss and he gives me the title of “senior equity analyst” and a $20k raise (my base salary was already in the six-figures).
Bottom-line: I’m getting paid more as a direct result of passing the CFA! I interviewed with many other buy-side shops and experience is what they valued…not whether I had passed any level of the CFA. The hardest part was making the move to the buy-side from the sell-side. Most places I interviewed with (including CR Intrinsic/SAC, Surveyor/Citadel) ended up hiring folks with prior buy-side experience.
