Advice needed: taking year off after graduation to study for CFA i-iii
Hi all! I am a history major at Dartmouth completing undergrad in 2 years (summa cum laude) because I chose to expedite everything by loading up max on my course load, and also by transferring some AP credits. I am looking to pivot into finance and am thinking about taking a full year off after graduation to study for the CFA from level i to iii. Would you guys say that it is worth having a year's gap of work experience on your resume to do this? Reason being is that I don't have any formal finance background and any relevant internships, and also need time to beef up my technicals. I am looking to recruit for PE analyst positions in China in one of the local megafunds there after that (I am native Chinese); in China apparently I have heard that one does not need IBD experience to recruit for PE. Will really appreciate any advice and inputs
Terrible idea. The CFA designation is a commodity. It won't set you apart. Get an internship and start earning.
I did think about this, but would be quite difficult to get quality internships anyway without any proper proof of a robust finance background.
Also am very keen on obtaining the robust finance education that self-studying the CFA may provide. Not doing it just for the certification; am actually interested in learning all the stuff. Also when networking and talking to prospective employers I think they can tell from the conversation alone whether you actually know your stuff and how thorough you went in learning everything, so I think that should compensate.
In China, additionally, I did think that the brand name of Dartmouth should make the taking of a gap year to do CFA forgivable, because in China if you graduate from an ivy league and go back you have a lot of leeway to do a lot of things and employers would still take you in as it's good publicity for them, so long as you prove that you have the technical skills necessary to handle the job position
Yes, it's a commodity....like gold.
I wouldn't take a year off. Take a few months to pass Level I. That's all you need to show people that you're serious about finance. Simultaneously beging applying for internships as well. Finish Level II and III when you have time later on in your career if at all.
For starters you can’t take more than two levels in a year.
Also, you’ll be wasting a lot of time waiting for the exams if you’re studying full time you’ll only need 2-3 months not the full 6. Most people take the CFA whilst working full time.
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