I just passed my CFA Level I February 2021 exam. I’m 22 years old and currently in 4th and final year at university and will start working at JPM as a WM Analyst this 1st of June. Now I’d love to take the CFA Level II exam in February 2022, but know it’s extremely hard. My plan would be to start in September (and study for 5 months), but I’ve heard of people who have planned that exam with 8 months of preparation and failed twice. Also I don’t know if I’ll have enough time after/before work. Do you think I should take the CFA Level II on another date (and if yes, which) or that I should go for it next February?
Congrats dude! Not just on the CFA exam result, but graduation and starting at JPM, some people really do get it all huh 😁
- 5 months is not impossible but for me personally, a little risky. I would ideally shoot for a Aug start at least.
- “People failed twice after 8 months study” etc is anecdotal data so not particular useful for reference. We’ve had experiences where candidates have tried for 6 years to pass CFA Level 2, to people who passed it by studying for two weeks.
- Starting work can be a tough experience and you would be working hard to leave a good impression. You’re right to be concerned about work and if you had to choose you should prioritize work.
- The downside of postponing though, is that many people end up not bothering with it again and just stopping at L1.
My opinion is that there is no harm in trying and see how it goes. I postponed my plans for CFA L1 because I had just started work then, and regretted it to be honest, because my first year was when I had the most time and my work hours were the least!
Thank you so much for your response. Yes indeed, I am very happy for how things are turning out for me, I feel blessed and very grateful!
I understand what you are saying. Right now I have three options:
- Go for it and take CFA Lvl II exam in February 2022.
- Take the exam in August 2022 instead.
- Wait much more and take it in February 2023
I would dismiss option three from the start.
Regarding the other two, I could start studying in August instead of September and study for 6 months for Feb 2021. However, I am worried about number 1 as I think I should make a good impression at work from the start. Studying for CFA Lvl 2 might compromise this.
If I took the August 2022 exam, I would have more time to prepare for it and will be more used to work. Probably the chances of passing will be higher. However, I will have to wait a bit longer and it might be better to do it earlier as I might remember the concepts from CFA Lvl I better.
What do you think about this?
If I had to recommend one approach, just from what you’re telling me about your situation, I would recommend going for Feb-22.
- Yes, you want to start with a good impression at your job, but a good point raised that you’re also likely to have more time at the start of your job.
- If you fail Feb-22 you can still make Aug-22. I personally think the cost of registration and materials is worth the gamble but again, your choice.
- Also likely underestimating how hard it is to get back into the CFA exams after a year or so out of it. Aug-22 is 1.5 years from now. The inertia is real.
Let us know what you’ve decided when you do!
Yes I agree, I think I will go for Feb 2022 as I could still make it to Aug 2022 if I don’t pass on the first try.
Thanks for putting things into perspective for me, you have been very helpful.
By the way, I tried finding you on LinkedIn but was unable to. Here is my URL code in case you would like to add me:
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