I earned my CFA charter in 2014. Five 1/2 years later, I wanted to give everyone in the middle of studying and exam prep a look ahead. It is worth it!
Looking back here’s what helped me earn my CFA charter:
1. Prep classes with @NathanRonen CFA. He was at NYSSA at that time but has since moved on to start his own company (Chalk & Board). This guy is an amazing teacher, with a clear and direct communication style. I learned so much from him. I took classes with Nathan live in Manhattan – and this was worth giving up months of Sundays and driving an hour to get there. He’s a “show not tell” type of instructor and his style is to have students learn by doing. He will take you through question after question until you understand the concept completely and can apply it in multiple scenarios. It’s worth noting that these are questions from actual exams and the CFA textbooks. I also took some very useful exam workshops with him, in which he graded answers during the workshop. It’s clear that Ronen loves his work and sees it as a personal mission to mint new, competent Charterholders who really understand what they are learning. It’s wonderful that he’s available now on video courses now for those living outside the NYC area. It’s also been fun to watch how his boundless energy gets captured on a video screen.
2. Getting up early and studying every day. Working parents of young kids, I think you will relate to this one. My kids were little when I studied for the exams. In fact, my son was born between Level 1 and Level 2. I would get up at 4 am and study until everyone else woke up.
3. Doing all the End of Chapter (EOC) problems. FYI the Schweser review books (which I also purchased), while helpful in mastering concepts, did not help me nearly as much as doing the EOC questions.
4. Starting as soon as the curriculum was released for the next exam. I’m not sure someone who works as an analyst already would have to start so early. But as a financial planner, some of the material (especially in Level 2) was new to me.
5. Index cards. So many index cards. For key points and formulas. I still have all of mine. They took so much effort to make I haven’t been able to toss them nearly 6 years later.
Look on Amazon and you’ll see a few first-person accounts of the CFA exam process out there. The one that I like the most is Greg Campion’s CFA Confidential.
Earning the CFA Charter was like going to graduate school. Most people I know who hold the Charter studied for more than 300 hours per level. It will be helpful to figure out early on what your learning style is and how you plan to prepare. If you learn best with a teacher, use a test prep program that fits your style.
Best of luck!