Is it too late to start studying CFA®?
I plan on taking CFA® level 1 this year but started a new job and didn't get started as early as I'd like. At this point do you consider December to be reasonable or should I wait to sit for it in June?
For the lvl 1 I started on September and passed with >70% all on fields except one . Keep in mind though that I didn't work at that time and I put around 4 hours a day with 3 weeks doing only mock tests. Realistically if you have some familiarity with the concepts you need around 300 hours to pass it. Its definitely doable but you have to be dedicated
It is definitely doable, depends on your familiarity with some of the topics, but you should be able to get 200 hours in by December. I took L1 in December, started in August, but honestly didn't dive in very deeply until September. Oct/Nov will be the crucial months.
Plus, if you don't pass, you'll be able to take it again in June with an understanding of chunks of the material and a live test run under exam conditions
Very reasonable. 3-4 months is more than sufficient. Did all 3 exams while working and started studying generally in Feb/Mar for the June exams. Just be dedicated and committed. You need to be able to put hours into this exam and memorize the formulas. Good luck.
IMHO, the ROI on the CFA® is really low nowadays compared with how it was even a couple years ago.
I see it as the cost is mostly time. The test itself is relatively cheap and I come from a non target so my thinking was it could only help me. I plan to take GMAT next year and go for t-20 MBA.
there is really no need for both CFA® and MBA especially in S&T or AM (MBA is useless imo). If you plan on going that route just do all 3 levels, not just level 1 for your resume. For AM you'd be better off with a quanty MS or CFA or both than an MBA
would it hurt to have 3 levels plus mba? the MBA is for prestige/recruiting purposes.
At the end of the day CFA is credential that is still widely respected and recognized. Is it helpful? Depends on the situation but I agree that it can't hurt.
If your intention is to get an MBA and recruit through there to get into AM, I would suggest that you spend your year boosting your profile in other ways than the CFA. Getting from a T20 to a T10 school would your best way of increasing your odds of getting into an AM as you can recruit at more and better firms.
I was thinking that would boost my profile to help with my sub par gpa (3.2) but 3.7 major. What else would you recommend?
The charter is very valuable. Being able to write 'level 2 candidate' on your resume doesn't carry much impact. Something like 2/3 of people who pass level 1 still never get their charter.
I would agree that a decent portion of the answer depends on your background. I've heard lvl 1 called the "prerequisites" or "entrance exam." Be aware of the difficulty, however. Last I checked, >80% of people who enrolled for level 1 never ended up with their charter. (pass rate for lvl 1 is normally 40-50%)
The designation is also a lot more valuable along with relevant work experience. In the two years after I got my charter, working in the ass-end of retail finance, I saw virtually no benefit. Since I broke in, my salary has basically tripled.
do you mind me asking what you broke into from there? and did you get a MBA first?
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