Situation - Embarking on a 1 year MSc (Political Economy) at LSE this September, with 100% of the final grade coming from exams at the end of the academic year around May-June. - Passed CFA level 2 this year. The level 3 exam is on June 3rd 2017, basically at the same time as the MSc exams (but not on the same day).
Question Has anyone studied for (and successfully passed) level 2 or 3 while also undertaking a 1 year masters? The question here really is: is it worthwhile (for success in recruitment process) diving into level 3 and risk getting an 'average' MSc grade or should the focus purely be on getting the highest grade I can, and worry about level 3 after I graduate?
Context Without any relevant front office experience and not coming from a target school for my bachelor's (BSc Economics), I'm trying hard to add value where I can. I'm thinking about going through a self-study financial modelling course (like BITWS/TTS/WSP) but given my interest in the buy-side, rather than SS, I feel that this might not be a great use of time, and perhaps even a confusing signal to a BS recruiter. Alternatively, I considered studying for the CAIA level 1 for March 2017, which ties in with my genuine interest in working in HFs down the line, and the exam is timed so that it does not clash with university exams. Worth noting that i'm keen to engage in some extracurriculars while studying (as I have done extensively before), which holds me back from jumping into level 3. However, level 3 material looks ... dare i say... interesting!? so that is motivating me to go for it.
Apologies if this is wordy/confusing in any way. Any advice is sincerely appreciated!
I imagine level 3 may be slightly more difficult, but level 2 was certainly easier to study for during school than studying for level 1 while working, in my opinion. If you have up to 3 months of study time and previous experience in corporate finance/accounting, you should be fine. Go for it!
SB for the effort and drive
Take CFA Level 3 in Business School? (Originally Posted: 02/11/2014)
Hi all,
I'm a first-year at a top bschool going into IB at a great firm this summer. I've taken two levels of the CFA and am wondering if I should take the last level this summer.
If I do, I lose out on social time and travel before my summer internship (probably the most important thing in bschool making connections).
Can anyone comment on whether or not it is worth it to finish the CFA. I am interested in buyside/HF but I know the odds are against me as an Associate to think about those exit opps. Rather, I should concentrate on banking as a career more than thinking about exits.
What are your thoughts
You need four years of work experience to have the CFA - no rush.
I'm in grad school and have 4 years of work, but not directly related to investments
1.) The 4 year work requirement can be loosely related to investing. You don't have to be actually putting money to work. 2.) HF opps at a top tier firm may be off the table for you but other opportunities may still exist, such as at a mid size fund or smaller. 3.) CFA will be very valuable to more traditional AM shops, like mutual funds.
If you know you want to go to the buyside I would sign up for it, take it during the summer. Then during fall of your second year start interviewing for an investing job. If you can't get one of those out of the gates, a job in ER at a BB would probably be better than traditional IB. You'll be doing work closer to what it sounds like you want to do and leave a jump to the buyside more open.
I haven't been to B school so I have no helpful advice re: the networking you're missing out on. But, you're at school to get a good job, not to go make friends. You have 2 full school years and many years after to make friends and build relationships. If you ever need to connect with a classmate, you'll have their email and linkedin. Your classmates will be around for years, but jobs and career choices may not be.
I would suggest taking Level III in June after you graduate. You'll still have the rest of June 2015 and possibly July to travel and relax before the full-time grind starts. Unwind a bit this May before your IB internship. It's an intense 10 weeks. Interviewing as a Level III candidate for ER next fall is almost the same as having a CFA (passing Level II is a big milestone and employers know you have what it takes to get the CFA).
I didn't reach out to any HFs this fall but did a bunch of ER, IB and corpfin interviews for last summer. (Well, IB is a marathon process as you know.) My CFA didn't come up or matter at all. Same thing for the handful of full-time interviews I had this fall.
you pay loads for an MBA- the only reason is to network. Why would you waste that? I got my l3, ask the CFA guys if your experience is valid first. if it is might as well get your 3
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