r/CFA

I feel like over these past few months of studying and stressing I’ve come to recognize some of the names on this thread.

This community has been really helpful as I don’t know anyone in my stage of the CFA. These test are isolating and it’s hard to find others that understand.

Sorry to be a cheese ball but this has been so helpful.

I wish you all the best tomorrow!

Part 1 is here

Just wanted to write a part 2 to provide some updates and answer some more questions to hopefully help people who are having a hard time breaking in or transition in their early careers.

In my part 1 post, I talked about how the CFA designation helped me get interviews as I wanted to switch careers into FP&A.

The update is here: I got the job as a Financial Analyst after doing a final round with the CEO. The interview was more like a pleasant chat where we talked about the market and a little bit of everything. My experience in investment research was a bonus as the CEO was genuinely interested in that industry. Was also able to negotiate the salary so I had a significant pay increase.

I think this personal experience reiterates the value of the CFA designation that my part 1 post mentioned. This program is meant to help people in their early careers to advance. And it does exactly that.

Many people overestimate the value of the CFA charter, thinking it’ll get you any jobs or the next big promotion, and get disappointed when they fall short of expectations. This isn’t a CFA issue, it’s an issue of delusion.

In my opinion, the CFA curriculum helps a successful candidate develop an effective learning framework to benefit from for their entire life, and also helps the candidate standout for entry level jobs many related fields. These 2 things aren’t something you can buy with money. So the thousands of dollars and hours are most definitely worth it. Even in this day and age.

CFA is a great course but at some point it is also a cash cow for the institution. The fees don’t really justify what they offer. There is no competitor for the CFA institute with the same brand value.

In essence we are paying just for a piece of paper that has our score. At least college offers a structured course, a place to learn, access to teachers and collaboration with other students.

Every day that goes by, I feel more pessimistic. I left the exam feeling very good, but with each passing day, I’ve started feeling worse.

Just want to know if everyone is feeling the same.

Good luck to everyone tomorrow.

Hey everyone,

I could really use some honest advice from people who’ve either made a similar switch or are already in finance.

Here’s my background:

BS in Statistics

MS in Project Management

~7 years of work experience across Sales, Accounts, and eventually Branch Manager

At 34, I decided to pivot into Finance seriously.

So far I’ve:

Enrolled in a Master’s in Finance and Risk Management (University of Florence, Italy)

Attempted CFA Level 1 in Feb 2026 (scored 1530, missed the MPS ~1600)

Planning to retake CFA Level 1 in August 2026

Considering doing FMVA + Bloomberg certifications alongside

My goal is to break into roles like:

Financial Analyst

Risk Analyst

Possibly portfolio/risk management long term

But I’m starting to question:

👉 Am I doing the right things, or just stacking certifications without strategy?

👉 Is switching into finance at 34 realistically achievable?

👉 Will CFA + FMVA + Master actually make me competitive, or is experience still going to be the biggest barrier?

👉 Should I focus more on practical skills (Python, financial modeling projects, internships) instead?

I do have a strong quantitative base (statistics) and some exposure to accounts, but no direct finance role yet.

I’m willing to put in the work — just don’t want to waste time going in the wrong direction.

Would really appreciate:

Honest reality checks

What you’d do differently in my position

Thanks a lot

Am I stupid ? Couldn’t do anything productive today, sipping a beer in a bar alone, I feel my heart beating from my shirt, and what did I try to do ? Download the verification letter…

Has anyone here passed L1 in 2-2.5 months? I started preparing for the may attempt a month ago (due to some prior commitments) and now I feel it's almost impossible and I might have to defer (I really don't want to). Can anyone give me any advice if they cleared L1 on a similar time crunch.

I Registered For CFA Level 1 Cancellation On April 1st

Now Due To Exams Clashing On November I Want To Cancel The CFA Registation

As Per CFA Program With In 14 Days We Can Cancel The Registration With Full Refund

How To Cancel The Registration ?

Immediately Help Required

Thank You

Let’s say I pass level 1 May 2026 exam. Which level 2 exam date does everyone recommend registering for? November 2026 seems to close and May 2027 seems to far. Curious to hear thoughts. Thanks !

Hello, I have attempted CFA L1 2 times already and planning it for 3rd time in FEB 2027.The first attempt was in Aug 2024 and second was in Aug 2025. But the mistake I made in second attempt is to thought I could do it on my own. I scored 1560 in Aug 2025. Currently doing a temporary job for 15k month. I lack funds this time, idk whether should I take a loan and give it,or wait till I get a stable job then do it. I don't want to waste my time doing this temporary job. If you have any guidance for loan pls reach me out. I have 0 clue. My heart just say I could clear it this time, idk whether the decision is right or wrong. What should I do pls help for guidance.

Thank you

May 2026 attempt. I completed the syllabus along with a round of revision. Despite this however, I'm having a hard time keeping a grasp over all 10 topics. Any tips for this last month would be really helpful. I've been looking for full length mocks as well. Thanks!

I'm a sophomore majoring in Financial Analysis. I've finished Economics and FSA (actually, I think I don't remember too much) and I plan to register for the November 2026 exam. Currently, I'm studying Quants and it's a disaster (I never felt this way when studying Economics and FSA)

But I don't know if I'll have enough time to prepare for the November exam (I can dedicate about 4 hours a day to CFA.) If I don't take the November exam, I'll have to wait until May 2027 because I have an important event in February 2027. Plus, English is not my native language, and I only understand about 60-70% of the content in the book, so it takes me more time. What do you guys think?

Hey guys,

I'm studying for my CFA I and was wondering if these Q-bank questions (the ones on canvas on the practice section per module) are accurate test questions for the exam. A lot of them seem to be kinda very specific to small details in the module. Are these questions just good prep to understand the material or are they the questions I should be drilling for the exam (or both)?

Thanks

What are the pros and cons of pursuing the CFA program (all levels), regardless of one’s educational background? I'm well aware that it comes with global reputation.

I’d also like to understand the career trajectory after clearing all three levels. What kind of roles and opportunities are typically available and their pay scale?

Better if someone can briefly explain the career opportunities after clearing each individual level and their respective pay?

For people in Canada.

​I am currently seeking some career perspective from the finance community here in Canada.

​I currently serve as a Senior Specialist within a Product team at an investment firm. My core responsibilities involve managing internal website and for funds facts, prospectus and other form updates, coordinating product launch meetings, and ensuring all operational requirements (forms, page updates, etc.) are executed from a product perspective. I previously worked with same fimr in Client Services.

​I have completed CSC. I am now considering pursuing the CFA designation and would appreciate your insights on the following:

​Role Alignment: Given that my current role is more operational/product-focused rather than pure research or portfolio management, how much value would the CFA add to my daily performance and long-term trajectory in Product Management?

​Career Progression: For those who transitioned from Client Services or Product Operations into higher-level roles, was the CFA the primary catalyst for that move?

​Salary Expectations: What is the realistic average starting salary for a CFA charterholder, or the typical "bump" one might see when moving into a post-charter role?

Thanks

I have my level 1 exam on May 13th and I still have 8 topics to complete. Right now, I've only completed Quants and portfolio management. I think I don't have enough time to finish the entire syllabus and have 7 to 10 days for revision. How can I make sure I get everything done on time?

I’ve read that the membership screen updates a few days before the test results. My membership still shows as regular member. Was this fixed? Or does this indicate I just failed the L3 exam?

Could someone give me a sanity check on this Portfolio Construction reading?

End of Module 6.01 defines effective spread as using "the midquote price at the time of the trade."

At the bottom of the same page, though, it says that the "effective spread provides a more general estimate of the cost of trading. It uses the midquote price (the average, or midpoint, of the bid and the ask prices at the time the order was entered) as the benchmark price."

Which one is it? Intuitively, the definition later on for Implementation Shortfall suggest that one is based on midpoint at order entry, since it's supposed to capture all implicit and explicit costs. By process of elimination that means the Effective Spread is based on the midpoint at execution, right?