CFA Level 1 alongside Masters. Doable or too difficult?
Hey guys,
I am starting my MSc Economics & Finance masters degree this September and have also been thinking about pursuing the CFA Level 1 qualification in the upcoming year as I am interested in investments and I believe it would be something that would further help me stand out when I look for graduate opportunities within IB/PE/AM or Consulting once I complete my degree.
My question is, do you think it would be possible to study for AND pass the CFA Level 1 exam alongside studying for a masters degree? Ideally, I would like to work a part-time job too for a few hours every week as well as getting involved in my university's investment fund society. Hence I was wondering if it would even be possible for me to succeed, or would I be completely overloading myself?
Would really appreciate to get some input from people with some knowledge on this.
People do it while working full time jobs. A masters is at best a part time job.
It's easily possible.
Edit: As other poster said, makes no sense to do for IB/PE. Only really ER/AM.
Thank you, really appreciate your input.
Have you maybe taken the CFA yourself? I was wondering about the level of difficulty of the L1 CFA. I have seen people say it is quite challenging, although I have also been told that if you have some undergraduate or postgraduate knowledge of economics/finance it is not too bad?
Its hard to disaggregate how tough it is with how long it is. I passed L1 with flying colours so it can't be that tough but it certainly is long. Not working FT definitely helps.
Studying an MFin and a CFA is I imagine like studying 1.5 things rather than 2 things.
Makes sense.
It sounds like it is definitely doable and I am leaning towards doing it. I know I may enjoy less free time however I want to utilise these 12 months of masters to get as much done as I can before I go into full time work. Thank you for your replies you have been very helpful in providing me with some insight.
Possible but does not make sense unless you want to go into wealth/asset management.
You will be way better off spending the same amount of time networking. Networking for 300 hours which, I think, is the average amount it takes to pass the exam could guarantee you a spot if you know what you are talking about.
Thank you for the advice, makes a lot of sense.
I am aware the CFA is more useful in Asset/Wealth Management. My main interests are in investments, hence ideally I would love to land a job within investment/asset management as an investment analyst etc. or in Equity Research. I would like to go down the route of PE later on in my career as I know it can be very challenging to break into as a graduate, however, I have heard it is possible with experience in asset management (or IB, but I'm not sure if IBD culture is for me...). The consulting route is also of interest, however I would probably go there only if I am unable to get a role in the roles/industries mentioned.
In terms of networking, I am aware how important it is when breaking into finance. I am doing my masters at a London university hence I am planning on utilising the location as much as possible through networking events etc.
I did L1 during senior year of undergrad, and I'm doing L2 rn alongside a masters program. UG and masters both in finance. To your question above, I studied ~118 hrs for L1 and thought that was pretty reasonable having been through a finance degree.
**Also, if you have your CFA done, you can get your CAIA by doing one exam. That’s a little more relevant for PE, but there’s obviously much faster ways to get relevant PE experience that don’t involve doing the whole CFA program to skip L1 of CAIA.
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