Prospective Level 1 candidates - survey& personal thoughts

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Survey:

1. What industry (how long):
2. How old (if you don't mind):
3. What drove you to take level 1 exam:
4. Personal thoughts about sitting level 1 exam (for those who failed - myself included):

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1. Sell side equity research (research associate)
2. Turning 22
3. Peer pressure, career, was young and decided to do it
4. With regards to Q3, having failed it in June - I think it takes more than the reasons mentioned above to do it. I now think its more about commitment, drive, alot-of-studying-smart/hard, *time*. I was semi-devastated when I failed it; I almost passed (or so I think so). By the way, I was the first in my firm to fail.

Although I don't know how I am going to find time to study now that I am doing 80 hour weeks (3/4 of sat inc). I pray I dont get anymore big assignments. But then again - everyone who is in sell side research did it.

2007 - what a year. Your thoughts?
 
1. Financial Planner
2. 25
3. General interest in the subject matter, and desire to hold the highest designation in finance.
4. General thoughts, was very close to passing as well (3 areas abve 70 rest between 50-70), pretty sure FSA killed me...don't have a lot of accounting background. Gonna go back and grind through the accounting book until I know it inside out. I imagine if I can get FSA up over 70 I should be good to go (hopefully). Hard part is picking yourself up and starting over
 
1. Support for our Investment Management group but looking to get into Equity Research...maybe you can give me some tips on the search or any other advice.

2. 23

3. Originally it was to try and pull even or get ahead with the industry to make up for my average GPA in college but after I started it I found myself getting really interested in the material. I was unsuccesful in June, but I just looked at it as I didn't know the material as well as I should've known to be succesful in this industry.

4. I have to re-evaluate the way Im going to go about studying this second time around...but last time I just went through the material once so I think that was my first mistake...I will definitely try to get through atleast twice or more for my weaker areas.

Good luck to everyone!!
 
1. Commercial Mortgage Defeasance analyst on buy side US Treasury and CMBS Desk (but probably looking to change if L1 is a pass)
2. Just turned 23
3. Work for a small firm where no one else has designation. Few people (aside from RMs) in S&T and Commercial Real Estate Finance seem to have designation so I figured it would help me out. I have a true desire to be in banking. I figured CFA would help enable me to make the jump.
4. This is the first time I'm taking it. A few CPA and PM-in-training friends have taken it and I feel like I'm lagging behind if I don't take it. My current job enables me plenty of time to study so hopefully come December I'll have L1, a full year and a half worth of experience and comp. bonus. After that I'll be doing some REIT and/or lev/fin or Real Estate Cap Mkt. Syndication group hunting for something new and exciting.
 
1. What industry: Interest Rate Risk Management (Banking, 5 years)
2. How old: Wrong side of the 20's
3. What drove you to take level 1 exam: combination of boredom & Management pressure
 
1. Commodity Risk Management / Trading
2. 25
3. Desire to learn a fairly comprehensive "body" of financial knowledge for my own
personal investing and for a possible career-change. Having an exam cover the
material is probably the best way to motivate me to read and learn the material.
 
1. Research department (covering mutual funds)
2. 26
3. I wanted to further my education and this appealed to me more than an MBA (at least for now). Ditto on wanting to have the highest designation in finance, and hopefully it will open a few doors to me in the future.
4. First time for me (though I have already had one dream in which I failed! :-/)
 
1. Key Account Manager for a Mutual Fund Company (before that 15 years in the nonprofit world)
2. Other side of 35
3. We work with sub-advisor's for our funds (all of which have the CFA) and it is my ultimate goal to work with the gatekeepers at the larger firms who decide which funds their reps should sell, thus a CFA will help me exponentially.
4. Freaking out ... will I have enough time to study ... etc
 
1. Hedge Fund analyst
2. 24
3. Well for starters my boss is making me but aside from that if you want to be an analyst it seems to make sense to go for the best possible qualification out there. It's also helped enormously with my day to day job as its the only training i get.
4. Terrified. I just failed in June and having given up my life, family, and friends for four months it was a big disappointment. Wasn't that far off but just worried i haven't got the motivation to go the extra mile.
 
1. Energy - Saudi Oil to be specific.
2. 22
3. The challenge, the training, and work is a bit slow.
4. First attempt and I am really nervous. I just graduated in May 07 with a BS in Finance and Marketing so I hope this stuff rings a bell. Look forward in getting to know you guys, ask lots of questions, and maybe, maybe help answer one - if I can...

Best of luck to all!

alsa0044
 
1. What industry (how long): I work for a public company in the banking/investment management industry in an accountant/corporate finance role.
2. How old (if you don't mind): 30
3. What drove you to take level 1 exam: I took the CPA exam years ago and it helped me get where I wanted to be in my career. I'm looking to move out of accounting and more into a finance role. I'm also getting a masters in finance and I feel passing the CFA validates that education. if that makes sense.
4. Personal thoughts about sitting level 1 exam (for those who failed - myself included): I havne't taken it yet, but we'll see what happens. I'm trying to put the time in but I wonder if it will be enough.
 
1. College Student - Senior Finance Major

2. 21-yrs old

3. Not getting enough from my college classes - I felt that I wasn't being fully trained to be a good analyst. Plus it gives me a competitive advantage in job hunting vs. other Finance majors because I can list that I'm a level 1 CFA candidate.

4. December 2007 will be my first attempt. I live for this material. I want to learn as much as possible, and can't wait to pass level 1.

And for you older people: I don't have any advantage over you. Some may think because I'm a college student I have more time. Nothing could be further from the truth. In addition to studying CFA material, I have to study for classes, work 25 hours a week, and try to have a life.
 
1. What industry (how long): Not in the financial industry at the moment--aiming for ER

2. How old (if you don't mind): 24....I think i am geting olddddddddddddddd!

3. What drove you to take level 1 exam: prestige and the amazing opportunities once u are done.

4. Personal thoughts about sitting level 1 exam (for those who failed - myself included):
I am petrified of not making it. I think the fright will keep me on my toes
 
1. What industry (how long): Treasury Associate in some IBank....

2. How old (if you don't mind): Other side of 20s..

3. What drove you to take level 1 exam: Expand career options, worked at Big 4, for a few years, always knew I didn't want to go the CPA route. Oh, and because I love a challenge. Who says that women don't like finance....lol

4. Personal thoughts about sitting level 1 exam (for those who failed - myself included): Well, it was a lot easier than I expected. There wasn't anything on there that I hadn't seen or studied (just didn't study some of my weak areas hard enough). I focused too much on FSA (which I knew how to do) and too little in areas I had no real background in (Econ, Fixed Income). There are no surprises on this exam, all it takes is some hard work, discipline, and a big ole heap of fearlessness....(I had a horrible case of test anxiety and freaked out the whole exam, won't happen again) :-)



Edited 1 time(s). Last edit at Thursday, August 9, 2007 at 07:13PM by nycleh31.
 
Survey:

1. What industry (how long): Import/Export (Owner)
2. How old (if you don't mind):42
3. What drove you to take level 1 exam: Increase knowledge of finance, move into money mgmt.
 
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