Failed S63 last week, feeling lost and beat down. I do not know what to with my life
I took the exam and scored a 65%.
I feel like an absolute failure and I now have to juggle the retake with the mental health issues that come with failing it. I have passed the SIE and have to take the 79, so I am going to put the 63 on ice for the next 3ish weeks to go concentrate on the 79 so I will have only one exam to focus on if I pass.
Does anybody know how this will affect my career? I know most of you have taken and passed it first try but if you have any second hand experience what do you think will happen? Will my desk and the wider team be notified? Or will they only find out if I fail it again? Will this affect things like promotions, bonuses etc even if I am a good analyst?
I feel so lost and distraught, feels like I am in mourning and this pain is hard is subside. Even if I pass it again, I will always be self conscious as to how senior bankers see me, if they think i don't belong there and will look for any reason to fire me.
This is just a tiny blip. In the grand scheme of things, it means nothing. People do fail these things. No one will be notified except whoever you tell, and even if they were senior bankers really do not give a shit or think about this for promotion/bonus.
I would definitely reflect on how you are dealing with this and the value you place on banking/how others in banking view you. If you are really distraught over this minor thing banking is going to be a tough experience - you cannot be so afraid of failure in this career. Try to view it from a wider lens. If someone in your class failed would you think they are totally done for? Definitely not, you'd say oh, that person is smart, wonder what happened, guess they'll pass next time.
You can retake in 30 days. Get the 79 done (it is trickest of the three especially if you weren't a finance major, so put a lot of time into studying. Don't take the exam until you're getting 90% on the practice) and by the time you're done you will be ready to schedule the 63. Same thing, be getting at least 90% before you take it. No sweat.
You're a kind person thank you. I scored low 80s in the practice which is why I was kinda confident but for my score to drop to a 65 I am honestly dumbfounded.
I used Knopman for preparation and they said the practice was a bit easier than the real thing but did not expect that hard a drop in scores.
Do you recommend I stick to knopman or is there any provider you recommend over them.
Yeah Knopman is the best, far and away. They are also good to work with - tell them you failed, any questions you found really hard, and ask them where to improve. They will help you personally, and can likely even recommend a study plan. I know they have a 3 day study plan for the 63 because they used it with my bank.
Good news is Knopman has SO many resources it's ridiculous. Forget about the 63 for now, but for the 79 you can start with reading the book, and then watch all the videos (take detailed notes, watch them on a slightly faster speed if anything is going too slowly). Take all the chapter quizzes you can. Then take some larger practice quizzes and see what chapters you are missing on. Go back to those videos/notes until you're doing better. I would be getting 90% before you take it if you had such a large score drop.
Also I'm sure you saw the email they send a day or two prior but memorize the contents of that when you get it. They know what questions are coming up a lot and that last little email has a very high likelihood of showing up on the test.
Jesus, get a grip and study harder next time. This should light a fire under your ass and if it doesn't then maybe you are not cut out for this. You are going to have long nights, lost pitches, more rejection then you probably have ever faced before in the world of finance. If this, flips your world then, IDK what to tell you.
I'll rather deal with those issues than the dilemma I'm in right now.
If I have to leave my firm right now, I'll become homeless, I have no family that can support me. I haven't been in the game long enough to have a nest egg of a few thousand or hundred thousand to fall back on if things go awry. I have no network from the bull pens to get me a new job, if I fail again I lose my life. I see no way back on the corporate ladder after that.
Doesn't matter what your situation is it is time to Get tough and go do what you need to do.
FINRA had study guides on their website - do not walk into your next test with less than 100hrs study and having everything memorized off those guides. you did 100hrs then do 200hrs.
You only get one more chance, little Analyst 1. After that the bosses will hogtie you naked at the round table and eat sushi out of your butthole.
Before you move on to the 79, spend an hour trying to remember the questions on the exam that you just took, especially those that might have tripped you up. Write them down immediately. Chances are non-zero that those same questions will come up.
Just took the 63 and 79 over the last two weekends. I'd say if you have Knopman just grind practice problems (go chapter by chapter) until you're getting 85%+ in every chapter. I did about 1000 practice problems for each and even more for the SIE and felt like it was sufficient. You got this man!
The 63 is a pain in the ass, but not insurmountable. Focus on trying to understand the logic behind it. Honestly it’s a lot of understanding the exceptions e.g. you’re an agent or an IAR unless X. Memorizing isn’t going to help nearly as much as running through the practice questions and reading explanations.
Senior bankers will not view you negatively. As long as you pass, they will not care -- lot of reasons people fail tests.
Like you said, you're mourning for failing the test, which is fine -- but now after mourning, it's time to move on and focus on the task at hand -- passing your next test. Get those negative thoughts out of your hand, and just psych yourself up, get into a study routine, do the work you need to do and let the chips fall where they may. You've gotten this far -- and I'm sure deep down, you know that if you study hard, the odds are you're going to pass the test.
Focus on what you can control right now, which is studying for the next test, and try to stop worrying about the what-ifs.
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