Is it time to give up??

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hendriar14

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Congrats to those that passed! Felt like I had a decent shot coming out of the exam, but you just never know with this beast. I ended up with a Band 7. This is my second time taking the exam, the first time didn’t have adequate time to prepare. To give a little more background information, when I started this journey I had only one finance class in college and 2 accounting classes. I was a Marketing major so my knowledge starting this was very limited and I had to teach myself almost everything. I took level 1 and 2 four times each to get through them. The first attempts for level 1 and 2 were just dry runs as I didn’t give my self adequate time to prepare. Unfortunately it seems like this has somewhat been an ongoing trend with me. I was band 9, then band 10 (lowest pass rate in level 1 history 34% I think) and finally got through level 1. I eventually got through level 2, but it took my 4 fours. I’ve very determined, but also want to be honest with myself. Perhaps this is just not for me? Perhaps I’m just not smart enough to get through this beast? I know I’m just disappointed because the failure is so fresh, but I’m just not sure if I have this will to go on. I guess any thoughts or advice would be welcome. Again, congrats to those that passed! FML….
 
Actually - following up on this - is it worth pursuing this CFA. In my opinion I reckon the CFA is very similar to the CPA (not in terms of contents) but rather a designation that does not offer much in terms of salary and promotions.
Honestly I am already past the $200K mark in terms of salaries and I do not need the CFA for further advancements. Because any advancements now and the future would not be because of the CFA.
Reckon I should instead forget the CFA and pursue an MBA or something in Financial Techology?
 
I totally feel your pain, but I was on level 2 for three years (passed in year four) and finally passed Level 3 on my third attempt. My recommendation to move from Band 7 up to a pass is first to use the CFAI books to study and do practice problems from, but also to go to a Level 3 Bootcamp hosted by Marc Lefebvre. The materials you get in his class, if you drill them, will get you over the hump. See my post from today to see how long it took me.
 
wharoom wrote:
Actually - following up on this - is it worth pursuing this CFA. In my opinion I reckon the CFA is very similar to the CPA (not in terms of contents) but rather a designation that does not offer much in terms of salary and promotions.
Honestly I am already past the $200K mark in terms of salaries and I do not need the CFA for further advancements. Because any advancements now and the future would not be because of the CFA.
Reckon I should instead forget the CFA and pursue an MBA or something in Financial Techology?
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WOW, that is impressive with your salary, can you share with me a little bit about your current occupation?
 
wharoom wrote:
Actually - following up on this - is it worth pursuing this CFA. In my opinion I reckon the CFA is very similar to the CPA (not in terms of contents) but rather a designation that does not offer much in terms of salary and promotions.
Honestly I am already past the $200K mark in terms of salaries and I do not need the CFA for further advancements. Because any advancements now and the future would not be because of the CFA.
Reckon I should instead forget the CFA and pursue an MBA or something in Financial Techology?
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You make more than $200K and you’re still taking the CFA? Is your salary in USD or SGD?
 
In SGD - nothing amazing considering 37% goes into a savings/retirement fund. No I do not do anything amazing - typical banker.
But with the advent of financial technology and data analytics - I am trying to go into that direction.
Which is why I need I wanted to get this Level III out of my friggin way and move on with life.
 
hendriar14 wrote:
Congrats to those that passed! Felt like I had a decent shot coming out of the exam, but you just never know with this beast. I ended up with a Band 7. This is my second time taking the exam, the first time didn’t have adequate time to prepare. To give a little more background information, when I started this journey I had only one finance class in college and 2 accounting classes. I was a Marketing major so my knowledge starting this was very limited and I had to teach myself almost everything. I took level 1 and 2 four times each to get through them. The first attempts for level 1 and 2 were just dry runs as I didn’t give my self adequate time to prepare. Unfortunately it seems like this has somewhat been an ongoing trend with me. I was band 9, then band 10 (lowest pass rate in level 1 history 34% I think) and finally got through level 1. I eventually got through level 2, but it took my 4 fours. I’ve very determined, but also want to be honest with myself. Perhaps this is just not for me? Perhaps I’m just not smart enough to get through this beast? I know I’m just disappointed because the failure is so fresh, but I’m just not sure if I have this will to go on. I guess any thoughts or advice would be welcome. Again, congrats to those that passed! FML….
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This far in, and especially after all you’ve put into it, I would definitely not give up if you can muster the will to keep going. You’re on the cusp, don’t give up here.
“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”
Michael Jordan
 
If you have reached Level 3, you might as well get it done. At some point in future, if you move to buy side, might help a bit. In certain markets might come handy to raise capital. Most of my mates on the buyside have obtained the charter.
Data analytics and Fintech is another area. We an discuss that offline.
 
hendriar14 wrote:
Congrats to those that passed! Felt like I had a decent shot coming out of the exam, but you just never know with this beast. I ended up with a Band 7. This is my second time taking the exam, the first time didn’t have adequate time to prepare. To give a little more background information, when I started this journey I had only one finance class in college and 2 accounting classes. I was a Marketing major so my knowledge starting this was very limited and I had to teach myself almost everything. I took level 1 and 2 four times each to get through them. The first attempts for level 1 and 2 were just dry runs as I didn’t give my self adequate time to prepare. Unfortunately it seems like this has somewhat been an ongoing trend with me. I was band 9, then band 10 (lowest pass rate in level 1 history 34% I think) and finally got through level 1. I eventually got through level 2, but it took my 4 fours. I’ve very determined, but also want to be honest with myself. Perhaps this is just not for me? Perhaps I’m just not smart enough to get through this beast? I know I’m just disappointed because the failure is so fresh, but I’m just not sure if I have this will to go on. I guess any thoughts or advice would be welcome. Again, congrats to those that passed! FML….
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Do not give up now at Level 3. Perseverance pays. Having come this far, may be you need to push yourself a bit more (again depends on why you are doing this and the time you are willing to spend) and get across the bar. I attempted Level 3 in 2006 and now in 2016. A long gap. Wish I had completed in 2007 or 2008 or 2009. Just go for it and finish it off. My 2cents. Best wishes for 2017
 
i took a few years off between level one and two until i knocked both 2 & 3 out back to back but the first part took around 7 years….the chip on my shoulder wouldnt let me give up even though it has nothing to do directly with my career..so i feel good about it and you will too
 
KSTHANE
-If you don’t mind, do you have an email address you would share with me? I would like to get a few more of your thoughts if you wouldn’t mind humoring me.
 
Gersonides wrote:
hendriar14 wrote:
Congrats to those that passed! Felt like I had a decent shot coming out of the exam, but you just never know with this beast. I ended up with a Band 7. This is my second time taking the exam, the first time didn’t have adequate time to prepare. To give a little more background information, when I started this journey I had only one finance class in college and 2 accounting classes. I was a Marketing major so my knowledge starting this was very limited and I had to teach myself almost everything. I took level 1 and 2 four times each to get through them. The first attempts for level 1 and 2 were just dry runs as I didn’t give my self adequate time to prepare. Unfortunately it seems like this has somewhat been an ongoing trend with me. I was band 9, then band 10 (lowest pass rate in level 1 history 34% I think) and finally got through level 1. I eventually got through level 2, but it took my 4 fours. I’ve very determined, but also want to be honest with myself. Perhaps this is just not for me? Perhaps I’m just not smart enough to get through this beast? I know I’m just disappointed because the failure is so fresh, but I’m just not sure if I have this will to go on. I guess any thoughts or advice would be welcome. Again, congrats to those that passed! FML….
Click to expand...
This far in, and especially after all you’ve put into it, I would definitely not give up if you can muster the will to keep going. You’re on the cusp, don’t give up here.
“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”
Michael Jordan
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The moral is: you will pass on your 27th try.
 
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