Dec 14 CFA L1 study plan
So I'm planning on sitting the CFA Level 1 in December and wanted to get some views from people that have done it before what would be a good study plan going forward.
I did an undergraduate degree in finance and am currently studying for the ACA as well, so the content shouldn't be that new to me.
The one complication I have is that I will be sitting the ACA Technical Integration papers in early November, about a month before the CFA. As such that will take up a fair bit of my time and I will probably not be able to give much, if any, time to the CFA in October.
I have however taken 2 weeks vacation before the CFA so that during that time I can go all out on the cramming.
My thoughts were that throughout the summer I would be doing low to medium intensity studying as well as doing practice questions (from my ACA experience I have seen that doing questions is a much more useful way of studying than simply reading theory), then take a break for about a month as I focus on my ACA exams and then after those are over, go into hardcore CFA mode.
Does this sound like a feasible plan that might get me past the first stage?
I did an undergraduate degree in finance and am currently studying for the ACA as well, so the content shouldn't be that new to me.
The one complication I have is that I will be sitting the ACA Technical Integration papers in early November, about a month before the CFA. As such that will take up a fair bit of my time and I will probably not be able to give much, if any, time to the CFA in October.
I have however taken 2 weeks vacation before the CFA so that during that time I can go all out on the cramming.
My thoughts were that throughout the summer I would be doing low to medium intensity studying as well as doing practice questions (from my ACA experience I have seen that doing questions is a much more useful way of studying than simply reading theory), then take a break for about a month as I focus on my ACA exams and then after those are over, go into hardcore CFA mode.
Does this sound like a feasible plan that might get me past the first stage?
Why are you doing the ACA and CFA? - You should do one or the other depending on your field of work and career ambitions.
They are both very hard to do, and will be next to impossible to complete at the same time if you're also working (which I imagine you are if you're doing ACA)
They are both very hard to do, and will be next to impossible to complete at the same time if you're also working (which I imagine you are if you're doing ACA)
(edited 9 years ago)
Original post by 7M33R
Why are you doing the ACA and CFA? - You should do one or the other depending on your field of work and career ambitions.
They are both very hard to do, and will be next to impossible to complete at the same time if you're also working (which I imagine you are if you're doing ACA)
They are both very hard to do, and will be next to impossible to complete at the same time if you're also working (which I imagine you are if you're doing ACA)
But if I do both then that will make me that much more superawesome. I know that this is a common combination. The fact that you're surprised about this makes me think that you're experienced in neither.
Am I wrong?
Original post by snakesnake
But if I do both then that will make me that much more superawesome. I know that this is a common combination. The fact that you're surprised about this makes me think that you're experienced in neither.
Am I wrong?
Am I wrong?
Wow. How up yourself are you?
I work in a department where the graduates all do the CFA whilst I myself am set to do the ACA - due to other circumstances. So yeah I might know a bit about professional qualifications.
Point is that qualifications are done to support the business and are there to supplement your career rather than drive it (unless you're in audit)
Doing the CFA won't help you in places where the ACA is relevant, and doing the ACA won't help you in places the CFA is relevant. It will look impressive on your CV if you pull it off, but I think you're underestimating just how bloody hard these exams are. Yes it might be a common combination - but people don't do them at the same time. Most often people who have done the ACA will do the CFA if they've moved into a work place that deems it relevant, vice versa.
If I were you I'd focus on picking my path and choosing which qualification is better suited to that path. You only really need one, you don't get a pay rise or anything for holding both qualifications.
(edited 9 years ago)
Original post by 7M33R
Wow. How up yourself are you?
I work in a department where the graduates all do the CFA whilst I myself am set to do the ACA - due to other circumstances. So yeah I might know a bit about professional qualifications.
Point is that qualifications are done to support the business and are there to supplement your career rather than drive it (unless you're in audit)
Doing the CFA won't help you in places where the ACA is relevant, and doing the ACA won't help you in places the CFA is relevant. It will look impressive on your CV if you pull it off, but I think you're underestimating just how bloody hard these exams are. Yes it might be a common combination - but people don't do them at the same time. Most often people who have done the ACA will do the CFA if they've moved into a work place that deems it relevant, vice versa.
If I were you I'd focus on picking my path and choosing which qualification is better suited to that path. You only really need one, you don't get a pay rise or anything for holding both qualifications.
I work in a department where the graduates all do the CFA whilst I myself am set to do the ACA - due to other circumstances. So yeah I might know a bit about professional qualifications.
Point is that qualifications are done to support the business and are there to supplement your career rather than drive it (unless you're in audit)
Doing the CFA won't help you in places where the ACA is relevant, and doing the ACA won't help you in places the CFA is relevant. It will look impressive on your CV if you pull it off, but I think you're underestimating just how bloody hard these exams are. Yes it might be a common combination - but people don't do them at the same time. Most often people who have done the ACA will do the CFA if they've moved into a work place that deems it relevant, vice versa.
If I were you I'd focus on picking my path and choosing which qualification is better suited to that path. You only really need one, you don't get a pay rise or anything for holding both qualifications.
I don’t really agree with the points that you make.
I want to get into:
- IBD/Corporate Finance
- Equity research (buy or sell side)
Currently I’m in audit and this is not what I want to do with my life.
I’d say that having the ACA and CFA would definitely help me in places such as equity research/asset management which I’m interested in. Maybe a bit less in IBD.
I want to do the CFA so as to give myself an advantage over all those other newly qualified ACA’s I’m competing against. So many job ads that I’ve seen list the CFA as a positive prerequisite or say that someone part way through it would be an advantaged candidate.
I’m already almost done with the ACA so there is no more choosing to do there. I want to do the CFA on top of this as I want to move into finance instead of be stuck in accounting/audit. More knowledge and qualifications is more power.
I don’t really see what you’re trying to get at here, I asked a very specific question and you seem to be discouraging me. I have made up my mind, I only wish to seek advice on a very specific issue, not to debate the decision.
(edited 9 years ago)
The other poster is correct in that ACA will not help you where the CFA would, and vice versa. The smart thing to do before wasting money and effort would be to get your ACA and move to CF/IBD/ER, which is very do-able. Accountants only do the CFA if they have failed to network their way in. I think your efforts would be better spent completing your ACA and working on exit opportunities. A top MBA with the ACA would also put you in a good position.
Original post by Tokyoround
The other poster is correct in that ACA will not help you where the CFA would, and vice versa. The smart thing to do before wasting money and effort would be to get your ACA and move to CF/IBD/ER, which is very do-able. Accountants only do the CFA if they have failed to network their way in. I think your efforts would be better spent completing your ACA and working on exit opportunities. A top MBA with the ACA would also put you in a good position.
An MBA is too expensive for me, no way I'd be able to afford that any time soon. Plus it would force me to take time out from work.
A lot of the jobs that I'm interested in have the CFA listed as an advantage or ask you to be willing to undertake it. As such I see myself having it as more and more of a necessity. If nothing more then at least something to set myself apart from all those other candidates who will be applying for the same CF/IBD/ER jobs and who also have ACAs. Otherwise I don't see my chances of getting into an analyst role to be that great.
I do plan on moving to CF/IBD/ER anyway but I feel that having done at least L1 of the CFA would give me a bit of an edge there.
I don't consider myself to be much of a networker, as such I'm not relying on that to get me in somehow because I know it won't. I have to compete based on merit, not connections.
More than half the stuff the CFAI forces you to memorise and regurgitate isn't even relevant for the job. ACA is a strong qualification, why do you want to spend more time and money doing something won't necessarily help you.
Job adverts don't mean anything, especially with the amount of crappy recruiters around these days. Unless they have a specific candidate already in mind, requirements can be stretched and sometimes thrown out the window.
Are you at a big 4 currently? You must have some former colleagues who have made the move, talk to them. You are downplaying the importance of networking, there are plenty of jobs floating around that aren't advertised anywhere, or only advertised through a preferred agency.
Anyway, it seems like you have already made up your mind and aren't really asking for advice, you're just waiting for someone to agree and reassure you.
Level 1 isn't too bad, but don't be so complacent. ACA is not really going to help you except in FR&A. Accountants typically struggle with Portfolio Theory, Economics and Ethics.
Job adverts don't mean anything, especially with the amount of crappy recruiters around these days. Unless they have a specific candidate already in mind, requirements can be stretched and sometimes thrown out the window.
Are you at a big 4 currently? You must have some former colleagues who have made the move, talk to them. You are downplaying the importance of networking, there are plenty of jobs floating around that aren't advertised anywhere, or only advertised through a preferred agency.
Anyway, it seems like you have already made up your mind and aren't really asking for advice, you're just waiting for someone to agree and reassure you.
Level 1 isn't too bad, but don't be so complacent. ACA is not really going to help you except in FR&A. Accountants typically struggle with Portfolio Theory, Economics and Ethics.
Original post by Tokyoround
More than half the stuff the CFAI forces you to memorise and regurgitate isn't even relevant for the job. ACA is a strong qualification, why do you want to spend more time and money doing something won't necessarily help you.
Job adverts don't mean anything, especially with the amount of crappy recruiters around these days. Unless they have a specific candidate already in mind, requirements can be stretched and sometimes thrown out the window.
Are you at a big 4 currently? You must have some former colleagues who have made the move, talk to them. You are downplaying the importance of networking, there are plenty of jobs floating around that aren't advertised anywhere, or only advertised through a preferred agency.
Anyway, it seems like you have already made up your mind and aren't really asking for advice, you're just waiting for someone to agree and reassure you.
Level 1 isn't too bad, but don't be so complacent. ACA is not really going to help you except in FR&A. Accountants typically struggle with Portfolio Theory, Economics and Ethics.
Job adverts don't mean anything, especially with the amount of crappy recruiters around these days. Unless they have a specific candidate already in mind, requirements can be stretched and sometimes thrown out the window.
Are you at a big 4 currently? You must have some former colleagues who have made the move, talk to them. You are downplaying the importance of networking, there are plenty of jobs floating around that aren't advertised anywhere, or only advertised through a preferred agency.
Anyway, it seems like you have already made up your mind and aren't really asking for advice, you're just waiting for someone to agree and reassure you.
Level 1 isn't too bad, but don't be so complacent. ACA is not really going to help you except in FR&A. Accountants typically struggle with Portfolio Theory, Economics and Ethics.
Of course not everything will be relevant. Even with the ACA the three tax exams I've done are largely irrelevant for my work as well as large parts of the rest of the curriculum. This will always be the case, as such I don't see how the CFA is different.
Yes I am at a Big Four and I do know some people in TS/CF and have been talking to them. I must say that they are generally more enthusiastic about the CFA compared to the sentiment I've seen on these boards.
Yes I have made up my mind. My original question was never "should I do the CFA", I did a separate thread for that. It was about my study plan which is using the assumption that I will be undertaking the qualification.
I have no intention of being complacent, I know that professional qualification exams require lots of work. However I've never really seen myself as an accountant, as such I want to do a qualification that sets me apart so that I don't go through life with the "accountant" label on my head.
So ask your colleagues for advice instead of a forum with anonymous teenagers. You come across as having a huge chip on your shoulder. people in TS have the option of doing either ACA or CFA, so doesn't that moot your point of both being necessary? Is your big 4 willing to sponsor you? Tbh I don't know what the rush is, just make it easy for yourself, finish the ACA and get a future employer to pay for the CFA, i've seen it happen plenty of times. Have you ordered your study materials yet? Doing both exams on top of full time work is a bold goal.
Original post by Tokyoround
So ask your colleagues for advice instead of a forum with anonymous teenagers. You come across as having a huge chip on your shoulder. people in TS have the option of doing either ACA or CFA, so doesn't that moot your point of both being necessary? Is your big 4 willing to sponsor you? Tbh I don't know what the rush is, just make it easy for yourself, finish the ACA and get a future employer to pay for the CFA, i've seen it happen plenty of times. Have you ordered your study materials yet? Doing both exams on top of full time work is a bold goal.
This.
Original post by Roronoa
Thought I'd jump in and give my two cents. I'm inclined to disagree with this answer.
I'm a part qualified ACA trainee for a Big 4 in FS audit and I have seen many seniors leave my firm to go into IB/M&A. They did the CFA Level I and have all told me that it got them interviews. They also felt that the knowledge learned from just doing the CFA Level I greatly complements the ACA if you're working in financial services.
If you can do the ACA and CFA that makes you a very attractive candidate for equity research and M&A roles. Whilst it isn't necessary, you will stand out if you're applying for positions in IB and the knowledge learned from the CFA is complementary if you work in FS. If you look at the syllabi for both the ACA and CFA you can see why.
I'm a part qualified ACA trainee for a Big 4 in FS audit and I have seen many seniors leave my firm to go into IB/M&A. They did the CFA Level I and have all told me that it got them interviews. They also felt that the knowledge learned from just doing the CFA Level I greatly complements the ACA if you're working in financial services.
If you can do the ACA and CFA that makes you a very attractive candidate for equity research and M&A roles. Whilst it isn't necessary, you will stand out if you're applying for positions in IB and the knowledge learned from the CFA is complementary if you work in FS. If you look at the syllabi for both the ACA and CFA you can see why.
You missed the point, the guy wants to do them both at the same time.
Quick Reply
Related discussions
- Bayes (Banking and International Finance) vs QMUL (Investment and Finance)
- Please Help! Seek input on University selection for Finance
- Do I have the profile for a top PhD in Finance in the US?
- Apply for Big 4 audit and (potentially) quit regional valuations team?
- Can I get into good European B-school in Msc Finance with poor grades in graduation?
- MSc applied economics vs investment and finance
- University of Liverpool or Queen Mary University ?
- Bayes vs Manchester vs Nottingham vs Cranfield MSc in Finance- International student
- Help with university selection please
- Atas delay timeline 2022-2023
- Trek To The End Of Year 13 ❀◕ ‿ ◕❀
- Further Maths Vectors Help
- Finance Msc decision
- MSc Economics and Strategy for Business from Imperial College
- vectors
- Confused between choosing a uni
- 1st Yr's road to a First at good RG, and start PhD, at 19, despite ADHD/ASD/BED
- C1 WTF moment type of question
- How to get started on the CFA Program?
- LSE waitlist
Latest
Last reply 1 minute ago
JK Rowling in ‘arrest me’ challenge over hate crime lawLast reply 3 minutes ago
Civil Service Fast Stream 2024 - Applicants threadLast reply 3 minutes ago
Loughborough or Cardiff for architecture?Last reply 3 minutes ago
Accenture Degree Apprenticeship 2024Last reply 9 minutes ago
Official University of Edinburgh Applicant Thread for 2024Last reply 11 minutes ago
Jaguar (JLR) Degree apprenticeships 2024Last reply 12 minutes ago
Official: King's College London A100 2024 Entry ApplicantsMedical Schools
1013
Last reply 12 minutes ago
TFL Apprenticeship Scheme 2024Last reply 14 minutes ago
Official: University of Manchester A106 2024 Entry ApplicantsMedical Schools
1255
Last reply 20 minutes ago
Official Dental Hygiene and Therapy (Oral Health Science) 2024 Entry ThreadDentistry
2836
Trending
Last reply 1 week ago
How open is consultancy/finance to me after an engineering degree apprenticeship?Last reply 4 weeks ago
should I get a summer internship for 1st year psychology?Last reply 1 month ago
Best psychometric assessment provider?-AssessmentDay vs Jobtestprep vs GraduatesfirstPosted 2 months ago
Alvarez & Marsal 2024 Restructuring & Insolvency Graduate SchemeTrending
Last reply 1 week ago
How open is consultancy/finance to me after an engineering degree apprenticeship?Last reply 4 weeks ago
should I get a summer internship for 1st year psychology?Last reply 1 month ago
Best psychometric assessment provider?-AssessmentDay vs Jobtestprep vs GraduatesfirstPosted 2 months ago
Alvarez & Marsal 2024 Restructuring & Insolvency Graduate Scheme
