CFA® Rant
After a few really deep drunk thoughts this past week with my friends. I realised that:
1. Why the fuck do you have to keep renewing a membership to use the initials
Who here, cleared level 2 and what age are you in?
And for level 3 what age are you in?
How much is it to renew your initials or just a hassle?
You mean a hustle? This year 100 bucks dropping from 275
$525 / yr, no? How did I get such a raw deal?
Did you took x2.1 CFA exams using 2 IDs haha
Are you simultaneously renewing the local society along with CFAI? You know you can drop the locals after a year. They also vary pretty wildly in price. Philly costs half what NYSSA does. If work pays it's normally a pretty cheap membership though.
I am doing it for the sake of myself and get away from the MBA crowd. In my opinion I'd prefer a CFA over an MBA due to it being cheaper to get a certificate and it is more rigorous than doing a MBA which kind of like doesn't get deep on a certain subject but it is more like for a well rounded thing. Which I don't really think I need since I had expertise in those areas and I can always ask my friends who are professionals/get a professional to do it in my company. Do you agree?
I can appreciate your rant. It is expensive to renew each year. I guess the short answer is that the CFA institute needs money run its organization.
Me? 28. 26 for lvl 2. A boss and coworker nailed the 18 month route and both got it before 25. A friend didn't swing the whole thing until his mid 30s, but he failed each level the first time.
Is CFA level 2 goal by 19yo a hardo move.
Not even really supposed to be possible unless you don't abide by the rule of being in your final year of college to take the test or you skip a ton of grades and are finishing college as a teenager. I finished levels 1 and 2 at age 22 and feel like that's on the younger side
Additional drunk thoughts, why even take the test? Just use the initials. What are they gonna do?
Call your employer. Ostracize you. CFAI is about the most hardcore with that. Your employer can also look up if you have it on their site in about 30 seconds.
Damn he got a point tho
23 for level 2. 24 for level 3. My company covers the annual fee
Wow ok big guy. Do u also make $1m a year too?
My guess for that boss is maybe 750, but I could be low. I'm almost certainly not significantly high.
Is it always guaranteed that you will get a job and a good paying one if you have a CFA 1+ in America?
Absolutely not - CFA doesn’t really help all that much in getting a job in America.
Really? Cause I met a lot of people who's life greatly changed due to the CFA. And they even argue it is even better than an MBA if you have common sense of an MBA. MFin and MSc is nice too. Which one would you choose?
- MSc
- MFin
- CFA
- Ivy/OxB MBA?
That sweet sweet Princeton MBA 🤤
MBA is a big filter. Getting accepted to a T10 program is the hardest part. Then it’s easy. The CFA exams are challenging and require superior time management to study and work at the same time.
If you’re trying to get into PE or something, a top MBA is a better bet. CFA is for asset management. IB doesn’t care about CFA charters - so it all depends on where you want to go.
Also, for many people their career prospects don’t change greatly with the CFA charter if they are stuck in back office or IT - some never are able to make the jump. And in places like Toronto, they have so many CFA charterholders that the CFA is a minimum requirement just to interview.
May be in PE but on the buy side this would be false. It absolutely helps and CFA charterholders probably prefer to hire CFA charterholders.
Not a thing. CFAI beats the rules into you at each level: "There is no partial designation." "You can represent yourself as a candidate Only (and really only) if you have applied to sit or are waiting on results." The appropriate term would be level 2 candidate if you've passed lvl 1 and scheduled to sit for the next exam. Don't mess this up on a resume. HR might not catch it but if your potential boss has his charter you'll stand out like a sore thumb for it.
Is trying to finish CFA level 2 a bit too much at the age of 19? Who else did it at 17-19 and sat for the 18 yo min to take the exam?
You’re in IB though - why do you or your company even care?
Wasn’t in IB before
They know it’s a flow through cost to employers lmao
haha
I was below the 10th percentile for level 3 this past year...FML
and I passed l1 and l2 on my first tries.
How old are you may I ask Pizz?
Mid to late 20s
I'd rather that than what I did: Band 10 of lvl 3 my first time after doing the same for 1 & 2. If you're going to fail, fail by a country mile. At least then you're not guessing if that one question that you changed the answer on cost you an entire extra year of your life.
Did u eventually pass?
cleared L2 at 22. Booked for L3 next year.
U must be really smart
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