There is No CFA Work Life Balance...

[@jeetthakkar087]

I'm so glad that you made this video AJ !!!....This is EXACTLY what I've been going through for the past 2 years (just turned 22 btw)...I'm a L3 candidate (Aug 22) and cleared both L1 and L2 in Feb 21 and Nov 21 respectively....So obviously my goal is and always has been to get that charter without ever seeing failure....And it takes a LOT of sacrifice that has to made to be in that top 7-8% (statistically speaking)... but the one question I keep on asking myself is - '' HOW BAD DO YOU WANT IT? ''...And the answer always is - '' WHATEVER IT TAKES! ''

[@straighttalks-ajsrmek323]

You got it man. "When you want to succeed as bad as you want to breathe, then you will be successful."

[@jeetthakkar087]

@@straighttalks-ajsrmek323 Thanks man... Appreciate it!

[@WellnessAlchemist1]

@@jeetthakkar087 update? howd exam 3 go? did you pass and are you now a charterholder or in the process of becoming one?

[@fergusoncherry1342]

I disagree. I think you can do it the unhealthy way like you prescribe, but I think you will do better incorporating some exercise and social events into your life. Even just a 30 minute run after studying makes a big difference or spending time with friends over the weekend after you studied for a few hours. I think not taking care of yourself is the worst thing you can do during the marathon of the CFA. My schedule: wake up at 5am study 5-8 work 8:30-6:30, workout, eat dinner relax then in bed by 9. Over the weekend study 4-6 hours in the morning then hangout with friends/workout in the afternoon making sure not to stay out too late. Just takes discipline.

[@straighttalks-ajsrmek323]

That schedule does sound efficient. But how many total hours will you get in?

[@fergusoncherry1342]

@@straighttalks-ajsrmek323 depends when you start in 3 months you’ll get 300 hours in 6 you’ll get 600

[@Chessmapling]

Like others I disagree. I passed L1 and L2 above 90th percentile, and I still had a social life, slept, and worked. The secret is long-term consistency, and actually studying without distractions. I took maybe a week off total over 7 months for both levels. Otherwise I was practicing/learning without distraction.

[@straighttalks-ajsrmek323]

But do you think most candidates can also pass with your schedule? Or are you above average?

[@Chessmapling]

@@straighttalks-ajsrmek323 I believe they can. Rather than it being a difference of intelligence, I think it's a difference in mental fortitude. I mentally struggled no doubt, but anyone who is goal-focused can do it.

[@jameswong5535]

You must be a genius, try level 3?

[@Chessmapling]

@@jameswong5535 not a genius, just someone who stuck to a schedule and didn't waver

[@jameswong5535]

@@Chessmapling it shows that you are disciple. Having gone through the CFA program myself, I do think that people who made it has special qualities: determination, discipline and GRIT! Good luck my friend.

[@Yasharghami]

CFA program is not something ordinary. Hence, your life cannot be ordinary with this program. Pure logic.

[@straighttalks-ajsrmek323]

Yep.

[@jameswong5535]

Right on!

[@aniketjadhav6220]

Yup, totally sacrificed my social life. But that's where priorities come by. A famous quote from a famous Anime, Fullmetal Alchemist says " Humankind cannot gain anything without first giving something in return" and it holds true for everything in life.

[@jameswong5535]

Good one AJ, totally agreed. Only those that went through….. how shall I say it? Level 1 = marathon Level 2 = Rock climbing Level 3 = swim a long long distance If anyone can balance his/her life well, that is a surprised. Good one AJ, that is how it really was, at least for me.

[@straighttalks-ajsrmek323]

Thanks, James.

[@davidbrunik9998]

Mental health problems are NO JOKE. if you genuinely feel like you are losing your will to live, quit this immediately and start doing something fun.

[@journeywithmbali]

I know you are not trying to scare us, but shuu... I can't help but be nervous about the commitment it takes to pass. I am a mom and wife.I specifically have struggled with doing 3 hours per day. This made me miserable because I would make the perfect study plan. Only to fall behind. So my new plan has been dedicating 1h30 daily and doing 8 hours on Saturdays(my husband takes care of our child, while I take the day to study) and 5 hours on Sundays. This allows me to have some time with my family during the week and a little time with them in the weekends. Not sure if it will work, but it's better than nothing! FYI, my exam is only in Aug though.

[@straighttalks-ajsrmek323]

Hi Mbali, You're right I'm not trying to scare anyone, but I also want to give realistic expectations about how much studying it takes to actually pass all 3 levels. Studying with kids (especially as a mother) would be so difficult! You sound like an extremely strong person and I am impressed by your work ethic! That study schedule sounds great to prepare for an August exam. Best of luck!

[@jameswong5535]

Good motivation, best advice, sign up with Mark Meldrum. The beautiful tip is, listen to his vdo and understand them, if you are stuck, email for help. It is way better to have him coaching you. This will save time.

[@mikecogan5428]

its worth considering the ~300 hour numbers people like to throw around produce the ~40-50% pass rates. Divide the quoted hours for your level by the historic pass rate. Level 1 - 303 hours/0.43 = 705 hours of study time needed Level 2 - 328 hours/0.45 = 729hours of study time needed Level 3 - 344 hours/0.54 = 637 hours of study time needed

[@straighttalks-ajsrmek323]

EXACTLY

[@jameswong5535]

Mike, you passed all 3 already?

[@mikecogan5428]

Two down, one to go. Friday, Sept 2nd.

[@WellnessAlchemist1]

@@mikecogan5428 update?

[@austinblades3602]

I respectfully disagree. Passed CFA 1 and 2 on the first attempt, both times working out, playing video games, reading, seeing friends. It's 300 hours (approx.) not a 24/7 commitment. To your doctor analogy, that's in contrast to my friends who are finishing their residency. In both cases, do people operate as you're describing, yes. Is it something you should recommend, no. It's definitely possible to have balance and succeed in this program. If anyone has any questions, please reach out.

[@straighttalks-ajsrmek323]

You're right its not 24/7. But I do think its 13/7 (when you include your day job) and you still need to sleep!

[@y5jeyfuyf]

okay, people do over hype their achievements and tend to hide LITTLE things that mattered the most & most importantly there can be entirely different purpose of completng a program between 2 candidates besides just passing and then there are persnoality differences too but generally there is a reporting bias and people only want to listen and say good things about them not to mentiond education and family background, job issues etc etc there are many many factors

[@jameswong5535]

You must be a genius

[@dac8939]

I did CFA and CAIA simultaneously. Just negelected real world investing in stocks/real estate and social but kept up 4 times gym a week.

[@kem964]

Failed level 1 once, level 2 once, level 3 twice. Worked full time, had a relationship and was actively trading on the markets. So yes, some sacrifice is needed if you want to pass the exams quickly.

[@yukiwang6177]

I completely agree. I thought I was not that smart like other candidates, so I had to spend lots of time on studying lol. The reason why I sacrificed is because I just want a better career with this credentials. Thank you, AJ, for pointing this out. You make me not feel alone when feeling stressed and sacrificed a lot for this exam. I’m still working on level 3. Hope all the hard work will pay off one day!

[@jameswong5535]

Good luck, only those that went through will understand, a few years ago I was feeling exactly the same as you do Yuki, do keep up the spirit, there is a bright light at the end of the tunnel, pretty sure you can do it!

[@seanmccann6972]

I disagree. I put in about 450 hours for level 1 and passed. I was able to exercise and have a social life while doing it. I think how early you start is an important factor and being consistent. I started about 6-7 months prior to the exam date.

[@arlanta1]

I disagree. I put in 630hs of studying. I gave up my social life almost entirely but I did not stop working out daily, nor did I give up anything else. If there is a will, there is a way. Took the CFA lvl 1 in february and I feel like it was easier than expected. We will see what happens

[@straighttalks-ajsrmek323]

But if you study a lot and still work, did you give up sleep? Or something else?

[@jameswong5535]

Wait until you get into level 2 and level 3 my friend, it is a new perspective in life. I passed level 1 and I thought I worked really hard. I was in for a big surprised! I hope you look up MARK MELDRUM, his resource has been really really helpful!

[@arlanta1]

@@straighttalks-ajsrmek323 Hi, AJ. I gotta point out that I work from home in a bank, and have a home gym. A normal weekday for me would go like this: wake up at 8.30, study 1 hour, start working at 10 AM unitl 6 PM. From 6 to 7 eat something while I listen to a podcast, watch anime or whatever. 7 to 8.15 study, 8.15 to 9.45 work out, and 9.45 till 11.00 study. I would go to bed at 11.30. And repeat. On the weekends I would study like 6hs each day. Btw, thank your for your content.

[@straighttalks-ajsrmek323]

@@arlanta1 Ah I see, nice setup!

[@PS-hi9os]

exactly right, you should still have time to yourself because tbh you don’t even need that much study.. not dissing you, you probably wanted to prepare. But i don’t see why someone would need to sacrifice their life with so many hours just for level 1.it might not be the course for that person who genuinely needs that many hours. You’re right, if there is a will & a way you should still have a life!

[@62294838]

I don’t understand how what AJ said is so difficult to grasp. Basically, he was simply arguing that u can’t have a life which what u would otherwise be living in a hypothetical scenario where u don’t do the CFA. It is simply fact. U do one thing or another. And if it takes effort to have a healthy life-style without the CFA , then doing the CFA is going to cost your healthy lifestyle due to the trade off, which otherwise won’t be a trade off without the CFA. Of cuz, if u assume there’s no cost to do a Healthy study/work life balance, then by all means continue whatever style of living u are happily living atm. It’s As simply as that. I expect better for all u smart people.

[@catalinajaramillo7097]

In my experience do it in your twenties, when you don't have a serious partner, kids and a lot of responsibilities at work. In 2019 I had a good study plan but then I had to travel every month for business and obviously failed.

[@y5jeyfuyf]

i quiete agreen but i disagree with the point that you should only focus on CFA program while on a program. There should be sufficient time to learn programming and coding. Because it helps in polishing your ability to ask better questions and forces you to apply knowledge which is one step ahead of solving MCQs. After all whats the point being an analyst when you cant makesomething with your hands in the first place.

[@Brooklyn.tees.1]

I respectfully disagree. I also think promoting for people to not eat as a way to lose weight can be a dangerous recommendation. Giving this type of advice can have serious consequences to someone’s health. My suggestion for people looking for a solution would be to have a plan, groceries can be delivered, there are food services, and many more options rather than just not eating.

[@gregorybainathsah7284]

Man, this video hit me right in the feels. Everything you said was accurate. I guess the only way nót to let this happen to you is by taking the same workload, but spreading it over a longer time span (~1 year for each exam)

[@straighttalks-ajsrmek323]

Yes, that could work!

[@Benyp7]

I’m sorry AJ, but you are completely wrong here. It is definitely possible to balance work, diet, exercise and a social life alongside your studies on the condition you are STRUCTURED AND ORGANISED. Of course, you are going to have to make sacrifices along the road at some point considering you are going to need to average more than 300 hours prep time for each level but that does not mean you have to absolutely give up any of your other life goals or interests. Diet and exercise have been proven to to be huge contributors to stress and health levels and I would argue maintaining a healthy lifestyle will help contribute and fuel your success in studying for CFA. Please do not try and scare candidates like this video does. Instead advocate for organised study programs and teach people how they can work towards their CFA in a healthy, balanced manner!

[@austinblades3602]

Agreed. There's a balance to be had in between the extreme examples here like "travelling the world" or "working out 4 hours a day" like he's suggesting. I've found balance in this program, and have succeeded because of it, not in spite of it.

[@straighttalks-ajsrmek323]

What kind of schedule are you thinking? Literally how could you get enough hours in the days to do all of this?

[@Benyp7]

@@straighttalks-ajsrmek323 if you start studying towards your exam 6-8 months in advance you are looking at 9-11 hours on average per week. That’s one dedicated day on the weekend and then maybe 1 or 2 weekday evenings. That leaves you with more “free time” than study time. As you get closer to the exam you’re naturally going to ramp up the study time but as you get closer, motivation should get you through that and it will be maybe a last month sprint. There is clearly enough room to balance your life out with other interests or simply just rest and decompose. Whatever you want. Suggesting that you should be studying every single day outside of work hours is silly and actually kind of toxic.

[@straighttalks-ajsrmek323]

@@Benyp7 Oh ok, I see where you are coming from. So my premise here is to give yourself a very high chance of passing, rather than the average chance of passing which is very low right now. So you would need to do far more hours. I typically say 500+ in my videos. I should have mentioned that again here. So for 500+, 9-11 hours per week wouldn't get you there.

[@straighttalks-ajsrmek323]

@@AnalystExpress 50-60

[@PS-hi9os]

tbh only reason i don’t have much time is because i’m cramming before an exam but if you’re studying well in advance you should have time. if. you need THAT much study then it’s probably not the course for you. but that’s my opinion regarding CFA.

[@shrexoxo9272]

CFA is something that you should be doing, but that should not become the only thing in your life. A doctor once told me- what's the use of living this life, if you don't have 1 hour for yourself.

[@straighttalks-ajsrmek323]

I agree! Good point

[@loxty38]

Work as a Director in an investment firm did CFA Level 1 qnd pass in the top 10% during Covid. Definitely gave up on sleep LOLOLOL - I do work alot as well. I believe that everyone have their own circumstance.

[@i123456987654]

Yeah, doctors like trauma surgeons don’t really have work life balance but that’s something that we need to change...we need to normalize work life balance

[@straighttalks-ajsrmek323]

Totally agree. Especially after passing the tests. Its just that balance happens to be less effective for passing CFA exams... haha

[@FinancialAnalysisTJ]

I 100% agree with this. My wife is a doctor and I’ve known her since her second year of medical school. Her work life balance has never been stable until recently as she has graduated from residency. I’m going through CFA level 1 and will have likely put in more than 500 hours before this writing this test. Again, I haven’t had a good balance during this time either (especially as I try to build a KZbin channel and keep my job haha)

[@jameswong5535]

Look up Mark Meldrum if you have not yet seen his vdo, trust me, a big big help!

[@yuxichen8661]

I'm working and studying ...... And not just studying for the CFA, but Python as well, because my boss demands it...it's just crazy exhausting.

[@straighttalks-ajsrmek323]

Yea that's nuts! It sounds like your boss doesn't know what it takes to pass the CFA exams.

[@kevinb4978]

I am with you. Everyone has to pick and choose according to their values, but there is no way around serious sacrifice when accomplishing anything worthwhile. I working in Public Accounting and I think the constant "work/life" propaganda is doing more harm than good. They oversell it to the Gen Z recruits/lateral hires/mothers returning to work, but the firms often cannot live up to the promise because of the nature of the work/industry. I see this causing many to quit and look for greener grass-but I am not sure they're going to find it. Green grass is not free, nothing is. I always appreciate your practical/ realistic view on things during these idealistic times - thanks AJ!

[@NicBob89]

Dude… My current schedule… although this has changed throughout levels and jobs… but I also tried to apply it when studying for my degrees, FRM and CQF while working 10-12 hours a day. 5am-5:30am on the treadmill with the iPad on it playing some MM lectures 5:30-6:00 eat + shower and change )food is usually 3 whole eggs/ just buy some egg whites and mix 2 whole eggs and make an omelette… if you are lazy to cook have a protein shake and oats. 6-7:30/8 MM Qs 8-16/17:00 work (chicken wraps for lunch - airfryer/Uber eats ), can snack on a protein shake or something 17-21/22:00 you can study any time during here… and eat something relatively easy to make (steak in an airfryer/ order a wrap from Uber eats) On weekends - replace the work with studying… Record study time and maintain 3 hours EFFECTIVE time per day and where you are short, add in extra time on weekends. Don’t ever touch alcohol. Don’t sleep too late. No TV or Netflix. Stay away from any sweets or anything with sugar - it screws with your concentration (that includes bread/ pasta - try get potatoes/ rice instead) Push away extra work. If you get migraines/ headaches as I am prone to, it’s probably because you are not sleeping enough… take some paracetamol (doesn’t give you gastritis, which I’ve had a few times, like aspirin) and try catch up on sleep on the weekend but try sleep early and start the routine again and just get everything in before it’s too late in the evening. Use all your annual leave that you can for time before the exam. Try cancel family events/responsibilities as much as possible - there might be the odd occasion (try make this very rare) where you have to wake up super early and plan your nap in the day. … exercise is proven to improve focus and learning - I threw in some weight training this morning. I’m lucky because I work from home, so I can get some time in between work in quiet periods. You can get thrown off once or twice if you get sick… but you need to try get back into it. Whatever works to get you in a routine that forces you to do the time. I use my schedule and try build on it every day. It’s easy to get thrown off the routine and fall into putting on a lot of weight and being unhealthy and when you are at that point - especially right before exams (1 month), it’s quite typical to just focus on studying and pushing like 6-8 hours a day if possible, for as long as you can get leave. The hardest thing about studying for CFA is work… there are some projects that I’ve been on where I’ve had to put in 132 hours of overtime in 2 weeks… yes… that includes that nice public holiday time you would usually get… I’ve failed a few times… sure, but I know what the reasons are and I’m back to studying for lvl 3. I just treat it as part of life and something I have to do until I’m done. People usually become very despondent after failing a level and then either just give up or they try again once more but don’t put in as much effort… the trick is to not think of it as a burden, but rather just as a normal part of your life and that if you had the time available, you would be using it to study something else anyway/ work extra hours. Oh… and I’ve lost 8kgs so far after I had put 20 on from my last attempt and I’ve been on track with my hours and understanding the content waaay better.

[@straighttalks-ajsrmek323]

It does sound like you have a really good schedule there. How many total study hours will you hit?

[@NicBob89]

@@straighttalks-ajsrmek323 Effective hours of around 300 at a minimum and 450 at a maximum - given the 105 days of study time afforded to level 3 students for the rewrite, I will try push for an extra 100-150 hours in the last month because it is easier to get time in from Mock exams and I will be on leave and have built up momentum. What I mean by effective time is that I keep an excel sheet and time myself on focused study time, then aggregate this into a summary sheet. I do not believe that the 300 hours rule applies in all situations - for example, in my case, I am rewriting and have therefore previously read all the content through Schweser, completed the Schweser qbank 2-3 times and did all the mock exams etc. Even though the curriculum has changed slightly, the concepts are the same and this does not require as much learning. This does not mean that if I studied 300 hours previously failed and then write again, that I only need to put in 100 hours... I actually do need to repeat the content. However, there is also a big difference between 300 hours of study time for a full-time student and for a student that works a complicated job with a lot of context switching, especially where the person with the job has other responsibilities like family (children, a wife, frail parents). The quality of the study time spent by someone working full time needs to be discounted by a factor because of context switching. To best approach this, it makes sense to count only "effective time" where this context switching is taken into account. Additionally, the learning rate of people is simply just different - depending on the topic they are studying and the general knack that person has for studying and how actively they are approaching the material. My colleague passed level 1 with only 10 days of studying for the exam... he had just written his bachelors degree, where nowadays many universities actually use CFA material within their curricula and then he took a bunch of concerta and studied like mad, but he is also extremely sharp and able to get through large volumes of material in a short amount of time.

[@jameswong5535]

Given how long you write n stuff you stay away from, does not sound like you have much of a balance at all, but hey, whatever works for you.

[@NicBob89]

@@jameswong5535 😂 you might be right… I think for me it’s just a balance of health, sleep, work and studying that’s important… I am also flexible on these rules to an extent… so I might watch an episode of Vikings on the weekend… and there is always room for improvement… like staying away from KZbin!

[@Fercoppelia]

Agree 100%! Miss the funny end joke tho...

[@straighttalks-ajsrmek323]

Yea I need to bring the jokes back! Haha

[@matthewgerich7649]

Get a skipping rope. Pick it up and jump for 10-15 mins and get a slow cooker. Probably the only way to make it work. Get used to stew lmao

[@kristinadill5548]

so good boy

[@gflei7181]

Sorry AJ, but you need to gain some perspective. Please stop trying to justify the sacrifices you may have incurred during your CFA Candidacy. It doesn’t mean your way is the only way. You are biased. Stop the fanaticism and please start trying to be more objective (I’m actually a fan of yours, but sometimes you seem to exaggerate and be too subjective).

[@jameswong5535]

How did you do for your CFA level 1 - 3? Did you have a balanced way of life?

[@mikecogan5428]

Folks really blowing this out of proportion. He's talking about a mindset that tilts the odds in your favor. He's recommending living on fast food and intentionally going FAR the other way.

[@dinomichael1487]

This is nonsense.

[@shrexoxo9272]

Lol, this man is based, haha.

[@darshitshah7095]

How much money do you make ???

[@shrexoxo9272]

Lol

[@shrexoxo9272]

200 rs & 40 Paisa

[@allprolemontonz8448]

CFAs with one to four years of industry experience can expect to earn a median annual salary of approximately $68,383, whereas those with five to nine years of experience will typically earn an average of $87,732. All this for middle class pay....

[@darshitshah7095]

@@allprolemontonz8448 Isn’t it too less !!!

[@TheRealGazelle]

I've always wondered, how could people be happy when they don't have a good career or income. Imagining myself not having a specialist degree and not having any bragging rights on what academic and career accomplishments I've gained would definitely destroy my self worth and will to live. Past the age of 30 (I'm 21 and doing BBA 2nd year. Plan on doing CFA level 1 then 4 year job then level 2 and 3 Then I'll let the lord decide what I deserve) if I ever find myself Working in a retail, a simple entry level job (the one's you could get right after the 12th grade) or being a shopkeeper or even a School teacher would destroy my Happiness as I know that I wouldn't be able to say, "Oh yes, I'm engaged in X Profession" and feel proud of that as it's something almost anybody can get into so what's so special about me? The only way where I can do a simple job with a simple way and still live my life is if I can have accomplishments beyond that. Like being a superhero. But that's not possible. I realized that I'm one of those people whose self worth is only determined by their Professional Status, Financial Set Up, Income Range and Sources and Social Worth. Anything below that will crush me. That's why, in 10th grade, I had done alot of research and realized that the CFA Charterholder Title and the Subsequent career opportunities, Income Range, Bragging rights, Dignity and Respect is great in my country. So, if I want to feel good about myself, I have to do this