CFA Level I exam or LSAT?

Hello, monkeys.

Long story short, I was a medical student and it did not work out.
For the past few months I thought about trying to get into finance, but since I didn't major I have hit a wall. (I had an interview with a financial services company, but they ultimately wanted someone who majored.)
I was pretty much set on starting a review course for CFA Level I in January.

Today I had an epiphany. Finance is really an ill-defined career path, unlike law or medicine where you pretty much put one foot in front of the other and are guaranteed work. I am momentarily considering law again. (I am aware that there is a glut of lawyers (many of whom hate their jobs) but that is not really relevant to my post. My uncle was a Harvard- educated attorney and he might have been of some help to me -- if he weren't deceased. So, I have no real mentors with respect to my decision.

I'm really much more analytically-inclined than suited for law.

The problem is this.

  1. If I want CFA, I should take that exam. If I want law I should take the LSAT.
    I have to choose. I would love to study for and take both exams, but I can't see that happening, right?

  2. What else should I be aware of in terms of making this decision for either career path?

  3. What are the opportunities with CFA certification? (Level 1, even?)

  4. Down the road if I want entree into i-banking, is it possible from law, as I have heard?

I am posting in PE, since my friend in finance (who as it so happens wants to leave finance) says CFA is really only good for PE. (I realize I just did the opposite of what my attorney father said I should do and put my main points last. Sorry. Dad was in a really niche area of law so I can't follow him.)

 

If you have the GPA (unweighted 3.7+) then try to CRUSH the LSAT and get into one of the T6 schools. That's the only way it'd worth while. Unless you're okay with working regionally (think SMU Law for Dallas) but then you're going to be limited way more than a Vault 10 in a hub like NYC, Chicago or wherever.

You can go from law to IBD, but its just an upwards battle. You might be better off just trying to get the best job you can, crush the GMAT and then getting into MBA if finance if you're ultimate goal.

"It is better to have a friendship based on business, than a business based on friendship." - Rockefeller. "Live fast, die hard. Leave a good looking body." - Navy SEAL
 

Appreciate your reply. I'm talking to my friend in finance also. I would really like to work in finance, but I'm afraid I'm chasing a pipe dream since I didn't major. Med school was damned hard. I don't know whether I could handle MBA, but that seems plausible. Are there any great MBA admissions consultants whose brains I could pick about this? In your opinion since I left med school, would it hinder me getting into B-school?

 

If I may ask, why didn't medical school work out?

I'm presently in finance and considering doing the inverse and enrolling in a post-bac program to get the classes required to go to med school so I'm very interested and would be immensely grateful in your answer.

I think the CFA is much like the CPA, just in its beginning stages. Currently they do not receive any rights that are not granted to the public at large (to my knowledge) but I think this will change over-time.

 

@Jerry4332 Sure, you'll do fine. There were a few guys in my class who transitioned from finance. Of course you know, get into the best post-baccalaureate program you can. Barring that, perhaps also get a fellowship at the NIH. As for me, I'd rather not put that out there right now. Best of luck

 

CFA is a very hard exam, don't take it lightly. Having no finance background, you'll need to learn it all from scratch and master the material. Plus, you need to pass all 3 portions of the exam to earn the CFA designation. If you really want to get into finance, I would just get a certification from a school for finance and work an internship, then apply to better positions.

 
Best Response

Look, you have to do your research and figure out a career path before you start blindly writing exams. No, don't write both the CFA and LSAT, it's a waste of time and money and you don't need both or even either i some cases.

We can't make this finance vs. law decision for you, they are two very different careers and they are very different from your medical background.

My advice is if you decide to pursue finance that you firstly write your CFA level 1. Then test the job market and if you aren't having luck, then consider a graduate program in finance. This should be enough to get your foot in the realm of finance careers.

If you choose law, write your LSAT and attend law school as soon as possible.

I am certain you can leverage of your medical background in both of these careers to help you land a job.

To be honest you sound very unfocused and if I'm a recruiter and I see a guy that tried med school and then went to write his CFA and LSAT that would be a huge red flag for me because it tells me you're all over the map and aren't really sure what you want to do.

Set your path and pursue.

 

Just to play devils advocate here. It may be in someones best interest to keep their options open as they do not know what they are ABLE to get nor what fields may even be good/exist in the future. So obviously a recruiter wants someone like that - but let's not put down his dilemma here.

 

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