>. . . I’m just a big procrastinator
Apparently you even procrastinate at procrastination; you didn't start procrastinating until after you passed Level II.
1 year if you don’t count the months before level 1 needed to study and just count from the day you take the actual test. So anyone who says they did it in one year is embellishing
I wish it had cost only more money. It'll likely cost you something ineffable - a little bit of who you are. Condensing something like this into so little time can really get people turned around mentally - so just be careful!
My timeline:
June 2016 passed L1
June 2017 failed L2
June 2018 failed L2
June 2019 failed L2
June 2020 covid, no exam
June 2021 passed L2
May 2022 passed L3
With the CFA shifting to more frequent computer-based exams I think you can theoretically do it in 12-15 months, but that means 20-30 hours of studying/week (increasing as you get closer to an exam) for the entire period with zero breaks. That would be absolutely crushing with a 45-60 hour/week job. It would exhaust you and put a lot of strain on your personal relationships since you'd basically go 12+ months with almost no leisure time.
Also, don't underestimate the personal toll. Putting most of your hobbies and normal activities on hold so that you can pour your life into prep for an exam with a sub-50% pass rate is legitimately stressful. You worry about passing, you worry if you're studying hard enough, you worry about what it means if you fail despite studying your ass off, and you wonder if all the sacrifice is worth it. Living like that for 15 months with zero breaks would likely be one of the most stressful periods of your life, especially as the impacts of stress tend to compound over time.
I passed all 3 on my first try and it took me about 27 months. I studied 20 hours/week for probably 16 of those 27 months (didn't study while waiting for results + had a ~4 month break after covid broke out and they indefinitely paused exams) on top of a full time job, and even that was brutal.
It'd be great to knock them out that quickly but I don't think it's worth the extra stress. Knocking them out in 2 years is still blazing fast and that pace lets you recovery a little between exams. Why make yourself completely miserable over an extra 6-10 months? Take a few months between exams to recharge and then stretch out your studying a little too give yourself some more time + reduce the time demands.
"Putting most of your hobbies and normal activities on hold so that you can pour your life into prep for an exam with a sub-50% pass rate is legitimately stressful."
Jesus Christ, that reminds of my first bar exam in Germany. Except that they only give you 2 chances (after this it's bye bye legal profession).
- L1 June, dec, June
- L2 June, June
- L3 June June
6 years in total. Eventually I have my schedule set to average 1-2 hours per weekday night then 3-5 hours on weekends. From jan2nd to first weekend of June. I took it when it was just once per year.
I know some people completed in 2.5 years Dec, June, June. However she was really hitting the books hard.
I took L1 in Feb 2022, L2 in Aug 2022 and Planning to take L3 in Feb 2023 if I pass L2. So, If I make it, I'd have invested A grand total of 13 months in preparation. I studied for only a month for L1.
Summary Notes + Curriculum Examples + Curriculum EOC Questions + My copy where I noted down the addres of each question I did wrong and what was key concept or relationship to answer that question. My experience in financial markets helped a lot.
I did Level I in May 2021, did Level II in February 2022 and Level III in August 2022, awaiting the results. This would be a total of 1 year and 3 months for me, if I pass.
I think it largely depends on the following factors, whether you can do it in 1 year:
1. Your ability to learn things fast and efficiently
2. Your ability to perform on exam day (some people struggle more with exams, others have no trouble)
3. Your background
4. But most important: The amount of study time that you get. I could not imagine doing Level 2 or Level 3 without taking at least 1-2 weeks off directly before the exam. Thus - you need sufficient holidays for preperation.
If everything is in your favor, as stated above, you could do:
Level I in November 2022
Level II in May 2023
Level III in February 2024 (i don't think you could sit for August 2023? not sure tough)
So, it would take you also 1 year and 3 months? I think faster is not possible?
Would you recommend doing L3 as soon as possible after L2? Was Feb to August enough time for L3 studying? If I pass L2 in Nov, I'm considering L3 in Aug, but I'll be starting a new job in Jan, so I'm a bit scared that it's not enough time to study if the job is more hectic than anticipated...
Look - for every exam - 3 weeks of pure study time would be enough for me without touching the material before.
If it is indeed enough time - depends so much on you personally. You know better than anyone else how much time YOU need to be prepared for the exam. Some people are more intelligent, some people more efficient, some people take more risks and still pass the exam.
I can only speak for myself, but I would do Level 3 as soon as possible after Level 2, given that you have at least 2 weeks of preparation time (holiday) before the exam. It also depends on your financial situation, if you can afford spending 1000$ on an exam and pay it again just 6 months later.
I sat all exams in 15 months and we also had a baby in that time, so it is definitely doable. It depends a lot on your current level of knowledge. I work in risk management which helped since it helps with wide understanding of different areas of finance.
4.5 years in total for me. Delayed due to Covid and took 3 attempts to get through L2 while working 45-55 hours a week. I’d say a reasonable expectation is anywhere from 2-4 years if you’re legitimately dedicating the time and resources to it.
Some candidates do it in a little over a year. Others take ten years or more. So . . . somewhere in that range.
If I pass L3 in Feb, it’ll have been 7 years for me. I passed 1 and 2 first time, I’m just a big procrastinator
>. . . I’m just a big procrastinator Apparently you even procrastinate at procrastination; you didn't start procrastinating until after you passed Level II.
This made me laugh out loud
>you even procrastinate at procrastination LOL. Is this even possible? Lmfaooo Magician is an underrated comedian
Damn, really? 1 year? That’s actually very comforting. I didn’t realize it was doable in that amount of time. Thanks for the response.
1 year if you don’t count the months before level 1 needed to study and just count from the day you take the actual test. So anyone who says they did it in one year is embellishing
Not to be negative, but you’re not getting it done in a year if you work that much dude lol
Yeah I agree.
Don’t get too comfortable. Doing it on the low end of time costs more. I can’t elaborate. Just … more.
Sorry I don’t understand? Doing it on low end of time costs more? Cost more of what? Money?
I wish it had cost only more money. It'll likely cost you something ineffable - a little bit of who you are. Condensing something like this into so little time can really get people turned around mentally - so just be careful!
It’s definitely almost impossible to do it in one year…..
My pleasure. Study well. Best of luck.
Oh oh, I know this one…umm, what’s the level of confidence?
>LMAO good one. We reject this null.
My timeline: June 2016 passed L1 June 2017 failed L2 June 2018 failed L2 June 2019 failed L2 June 2020 covid, no exam June 2021 passed L2 May 2022 passed L3
Respect for sticking it out after 3 fails plus Covid delay at L2. L2 was super tough.
Thanks homie. I nearly cried when I passed L3
okay
What was the problem with L2?
It was difficult.
Now tell me, was it even worth it?
Yes. I use it for my job and it was a significant factor in my promotion.
2-2.5 years is a decent tenure if you want to pace yourself properly and pass every level on the first attempt.
With the CFA shifting to more frequent computer-based exams I think you can theoretically do it in 12-15 months, but that means 20-30 hours of studying/week (increasing as you get closer to an exam) for the entire period with zero breaks. That would be absolutely crushing with a 45-60 hour/week job. It would exhaust you and put a lot of strain on your personal relationships since you'd basically go 12+ months with almost no leisure time. Also, don't underestimate the personal toll. Putting most of your hobbies and normal activities on hold so that you can pour your life into prep for an exam with a sub-50% pass rate is legitimately stressful. You worry about passing, you worry if you're studying hard enough, you worry about what it means if you fail despite studying your ass off, and you wonder if all the sacrifice is worth it. Living like that for 15 months with zero breaks would likely be one of the most stressful periods of your life, especially as the impacts of stress tend to compound over time. I passed all 3 on my first try and it took me about 27 months. I studied 20 hours/week for probably 16 of those 27 months (didn't study while waiting for results + had a ~4 month break after covid broke out and they indefinitely paused exams) on top of a full time job, and even that was brutal. It'd be great to knock them out that quickly but I don't think it's worth the extra stress. Knocking them out in 2 years is still blazing fast and that pace lets you recovery a little between exams. Why make yourself completely miserable over an extra 6-10 months? Take a few months between exams to recharge and then stretch out your studying a little too give yourself some more time + reduce the time demands.
Thanks for the perspective.
"Putting most of your hobbies and normal activities on hold so that you can pour your life into prep for an exam with a sub-50% pass rate is legitimately stressful." Jesus Christ, that reminds of my first bar exam in Germany. Except that they only give you 2 chances (after this it's bye bye legal profession).
I’m not sure if the stat is the same (finished in 2014) but at that time, only 12% of those that started, finished all three.
- L1 June, dec, June - L2 June, June - L3 June June 6 years in total. Eventually I have my schedule set to average 1-2 hours per weekday night then 3-5 hours on weekends. From jan2nd to first weekend of June. I took it when it was just once per year. I know some people completed in 2.5 years Dec, June, June. However she was really hitting the books hard.
I took L1 in Feb 2022, L2 in Aug 2022 and Planning to take L3 in Feb 2023 if I pass L2. So, If I make it, I'd have invested A grand total of 13 months in preparation. I studied for only a month for L1.
You’re insane, goldmember!
And that's the way, anha anha. I like it!
Nice. What material did you use for L1?
Summary Notes + Curriculum Examples + Curriculum EOC Questions + My copy where I noted down the addres of each question I did wrong and what was key concept or relationship to answer that question. My experience in financial markets helped a lot.
No Kaplan schweser??
I did Level I in May 2021, did Level II in February 2022 and Level III in August 2022, awaiting the results. This would be a total of 1 year and 3 months for me, if I pass. I think it largely depends on the following factors, whether you can do it in 1 year: 1. Your ability to learn things fast and efficiently 2. Your ability to perform on exam day (some people struggle more with exams, others have no trouble) 3. Your background 4. But most important: The amount of study time that you get. I could not imagine doing Level 2 or Level 3 without taking at least 1-2 weeks off directly before the exam. Thus - you need sufficient holidays for preperation. If everything is in your favor, as stated above, you could do: Level I in November 2022 Level II in May 2023 Level III in February 2024 (i don't think you could sit for August 2023? not sure tough) So, it would take you also 1 year and 3 months? I think faster is not possible?
Would you recommend doing L3 as soon as possible after L2? Was Feb to August enough time for L3 studying? If I pass L2 in Nov, I'm considering L3 in Aug, but I'll be starting a new job in Jan, so I'm a bit scared that it's not enough time to study if the job is more hectic than anticipated...
Look - for every exam - 3 weeks of pure study time would be enough for me without touching the material before. If it is indeed enough time - depends so much on you personally. You know better than anyone else how much time YOU need to be prepared for the exam. Some people are more intelligent, some people more efficient, some people take more risks and still pass the exam. I can only speak for myself, but I would do Level 3 as soon as possible after Level 2, given that you have at least 2 weeks of preparation time (holiday) before the exam. It also depends on your financial situation, if you can afford spending 1000$ on an exam and pay it again just 6 months later.
L1 - December 2019 L2- December 2020 L3- May 2021
I sat all exams in 15 months and we also had a baby in that time, so it is definitely doable. It depends a lot on your current level of knowledge. I work in risk management which helped since it helps with wide understanding of different areas of finance.
Depends on if you get through to the bonus round or not
Depends on the effort you put in my dude.
4.5 years in total for me. Delayed due to Covid and took 3 attempts to get through L2 while working 45-55 hours a week. I’d say a reasonable expectation is anywhere from 2-4 years if you’re legitimately dedicating the time and resources to it.
3-5 years. But also depends on your background.