My Name is Ali and I have been lurking on this forum for a more than a year now. A lot information has helped me make decisions and study for my CFA.
I am posting this thread to get some advice as I believe people who have taken CFA level 2 will be the best at this. Some of the points to consider are:
I will be writing my Level 2 in June.
I work 4 days a week as an accountant for a small NFP. The job isn’t anything interesting and my commute is average 2 hours one way.
There are no opportunities for me to grow in this company. However, the experince might count towards my Canadian CPA. I have been working here for more than 1 year.
I also have family business to take care off due to my fathers illness, I hope he will start looking after in a couple months. Therefore, I did not get much studying done as of now.
I will be enrolling in my CPA challenge exam, which isn’t too difficult, the exam will be held in may.
My background is Accounting major with minor in finance.
I failed level 1 once because below 50 in Ethics. ( My father was ill during that time too and I couldn’t put in much time)
Now, I really want to quit my job at the end of december and focus only on my education. But sometimes i feel, I should hold on until May, so atleast I can get some more experience that will count towards my CPA. I do not enjoy the work at all and I believe I will do a lot better with my studies without it.
What is your opinion on this? Am I killing myself and is Level 2 really that hard that i should quit my job?
Hard to follow all that. You’re studying for another exam as well during the same timeframe? How much time do you have to dedicate to the personal matters (family)? Are you able to study during your commutes or are you driving? Regardless, working only 4 days a week doesn’t seem so bad. If you think you can hit 300-350 hours to study for L2 without killing yourself then continue on.
But have to agree with itera. I would never quit a steady paycheck to take a CFA exam. You can always sit in 2017 if you really don’t have the time to devote to preparing.
what you are about to do is non sense.lets suppose you have the cfa,it would be very hard to switch career , even harder in canada ( biggest stock of cfas) and much more harder given your name in english speaking canada and much much much more harder in french speaking canada( from personal experience).
the best option is to mayb expand your father business.
in taht case i strongly encourage you to leave your job and finish the cfa.one cleared the level 3 even if your experience is not validated, i am sure you will find a wonderfull job with some 7 digit salary.
I think you have th option as well to attempt level 2 after a year or in 2017 or 2018 even. Complete your CPA first and no need to quit the job just for the sake of level 2 preparation. It would be better, if you can spare time for Level 2, otherwise stay with it.
Believe in yourself. Work out a plan that is feasible, and execute it with faith.
Your commute is an opportunity, celebrate it by immersing yoursel in your studies.
Frame things positively, as it will help with optimism, determination and commitment.
Everyone is different, but the CFA level 2 exam is a big deal, concentrate your efforts on getting that done. Perhaps sit for the CPA exam another time.
Good luck, and there are no right or wrong answers.
I would not give up my job to sit the CFA level 2 exam for the first time, as one should be able to pass it part time with dedication and concentrated efforts.
I had long commute when I was studying for the CFA 2 and I fully utlized that time to read through the material on the train/bus. Ended up with a sore neck but it was worth it imo.
A four day working week sounds pretty good to me. Sorry about your father, which might make it difficult to focus, but I honestly believe that TIME is the major factor to help you pass CFA. Luckily for you, you have that in abundance.
If I saw a CV where someone quit their job to study for the CFA I would probably chuck it out. One of the really impressive traits of someone with the Charter is the ability to study and work at the same time. it shows time management, efficiency and a real committment to the profession. If you quit it shows none of these things, and the missing years of work experience are a big negative.