^ You can only answer that question confidently in retirement.
I’m not a Charterholder, but I’m a Level 3 candidate and I feel compelled to answer this.
First, I am a CPA, so I have another highly respected designation that enhances my professional credibility.
Also, I live in a rural area with very few Charterholders here. The few that are here all say the same thing–they would not hire a local person and train them. They would rather hire an experienced Charterholder out of a major metro area and relocate them out here. And the companies that would train a person (usually in accounting) do not see any value to the charter.
I’ve said it said it before, and I’ll say it again–if your boss is not a CFA Charterholder (or a CFA exam flunkie), then he will not recognize the value of the charter. In fact, most people–even the highly experienced and educated ones, tend to ask, “What does CFA stand for? Certified Financial…Advisor?”
To sum it up, if I knew that I were going to be moving to this town with its relative lack of demand for CFA Charterholders, then I would NOT pursue the Charter. I have sacrificed too much time with my wife and daughter and caused myself too much artificial stress for a designation that has very little value, at least up until this point. And there’s no reason to believe that it will have more value later on in life, either.
If I were in a different city with different job prospects, then my answer might change. And my answer may change again after I finish Level 3 in a few weeks.(Right now, I’m really feeling the burnout of the Level 3 exam.) And it might change over time, if I find that there is real value in what I learned in the CFA program. But right now–the answer is no. If I could go back in time to four years ago, I would not take the exam.
Thanks Greenman. I always value your answers.
I’m 22 years old and just graduated from university last year with a BBA. Out of all the business topics, finance was definitely the most appealing. I like the subjects but I don’t know if I want to be serious about it or just want to make it a hobby. I’m sure I can past L1 since most of it is review but what about L2? L3?
Reading posts on the internet have really got me thinking. I feel like there are so many that are about regretting participating in this program. I rarely come across someone that says “yeah! The CFA program is great! It has helped me get my dream job!” (bit of an exaggeration).
I just don’t know if I’m willing to put in this much effort after reading other people’s opinions. I don’t want it to be a waste of effort because unless you pass all 3 exams, it’s really all for nought. The way I see it now is that I’m willing to fail once in total.
But what do I want to do? I just don’t know…
Would definately do this program all over again if given the chance. I have gained so much from joining 3 years ago. I only wish I had enrolled sooner. It wouldve given me more direction in terms of where I wanted to go in my career.
I work as a trader for an investment bank, so I dont have a formal background in investment analysis (Im more like a ‘shoot-first-ask-questions-later’ kind a guy). But I love investing and managing money for myself and several family members. This program was just what I needed to get a better understanding of portfolio management and investments.
Definately made some sacrifices along the way. Cut my honeymoon short for Lvl1 prep. Gave up a promotion because the business travel was clashing with last 2 months of Lvl 2 prep (didnt care much for the role, but the money wouldve certainly helped). Now spending last month away from family so I can focus 100% on my lvl 3 prep. (I have a very understanding wife!)
I’d leave my trading job for a buy-side investments role in a heartbeat. I dont know how soon or whether I would ever get that opportunity, but in the interim Im enjoying the education.