Thursday, August 16, 2012

CFA IS IT LATE FOR ME?

I meet many CFA candidates or wannabe candidates who ask me one question whether it is too late to start  for CFA designation? The root cause of people asking this question again and again is the first requirement for CFA a graduation. In India graduation is considered as a basic qualification today so when it is said that CFA is a graduation level designation people start thinking it as a pure academic based course to be completed along with an MBA. In India we have a mindset where a person is suppose to finish all his education before start working, but most important requirement of CFA is the work experience. It requires related field experience of 48 months before being eligible for the status.
              SO what is the right time to start for CFA? I think right time is just after getting a experience of 1-1.5 years after masters. It gives right perspective of goals and reality of industry has sunk in. This work also opens them the exact expectation to be made from CFA. CFA is not a magic wand which will open all doors for the charter holder, it boils down to the skills of charter holder how he connects and makes contact to move forward in the career.
                  Said this there are candidates whom I know started this course after their 30s. and complete it in5-8 years. so it is willpower that helps to complete this exam. There are people who tried to start just after 1-2 years of experience and couldn't complete due to marriage and family commitments. So if one wants to try for this designation they need to sacrifice a large part of their leisure time. As someone wrote in a post 350 hours of study per year constitute around 4% total time in the year. SO if we consider 30% time for sleeping and 40% in working it constitute around 30% of the leisure time of the year. One has to forget all weekend activities for at least 4 months, no parties, no outstation trips, no movie nothing. This sacrifice becomes too much for some candidates and they leave it in between.

Wednesday, August 8, 2012

I CRACKED IT FINALLY- Passed CFA level 3

Today sacrifice of my family and freinds bear fruits annd I passed last level of CFA today. Finally became eligible to receive Charter