CFA - to do or not to do

I am looking for advice from anyone who has sat/ is sitting the CFA.

I am in Corporate Finance (FDLP) and hoping to one day move into corp strat/dev. I also want to do my MBA... Is it worth sitting the CFA?

P.s. if anyone has sat this qualification, would be great to know what you thought of it, how you studied, where the best information is etc.

Thank you!

 
Best Response

I passed Level I a couple years ago. For the right career track it is a great certification. I learned a lot and brushed up on quite a few things I learned in college/grad school. I used Kaplan Schweser books and online materials, along with official CFA book questions to study. All in all, it was about 330 hours of prep over the course of 6 months (tracked prep very consistently). If someone is going to take the CFA, I recommend this book (https://www.amazon.com/Direct-Path-CFA-Charter-Strategies/dp/1941074014).

For your situation, I do not think the CFA makes sense. The MBA is going to have a bigger payoff and probably require much less time than the CFA (although the MBA will almost certainly cost more unless your employer is picking up the bill). Also, the MBA is much more of a "sure thing" than the CFA which most people which start the program, myself included, do not finish.

 

It lays out everything from recommended materials, study methods (flashcards/practice questions/etc.), a study schedule, to actual test day recommendations. She left no stone unturned in how to prepare for the exam.

One of the most helpful things was that she recommended reviewing all the material twice. Once in depth, with the first review ending 8 weeks prior to the exam, then a second review in the 8 weeks leading up to the exam to focus up on weak areas. I recommend it, well worth the time and money.

Good luck with your prep! It's tough but with preparation it's not too bad.

 

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