150,000 Financial Services Employees To Find Out Saturday If Last 4-6 Months Of Their Lives Were Worth It

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To most of the world, June 7th is just another summer Saturday. To those sitting for the Level I, II, or III CFA exams, it's the day that determines if months of sacrificing their personal and professional lives-- and in many cases, general standards of hygiene-- in exchange for study time paid off. For those taking I and II, successful performances will dictate if they buy the books for II and III, or slink back to their old test prep rooms as if nothing happened. Those who pass III will be one step closer to mecca.

CFA Institute, the global association of investment professionals that sets the standard for professional excellence, announces that 148,927 candidates from 179 countries have registered for Level I, II and III CFA exams, to be administered on June 7 worldwide. This weekend candidates will take the next step towards earning the CFA charter, the mark of excellence within the investment profession, in a commitment to uphold the highest standards of investment practice and to serve investors and the global economy.

Nearly 150,000 Aspiring Charterholders to Sit for June 2014 CFA Exams this Weekend [UKYF]

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Financial Services Employee Living In Relative Squalor Takes On Adversity And Wins

Back in February, Bloomberg ran a deeply distressing story about financial services employees whose lives had been turned upside down as a result of bonuses being slashed last year. There was a guy who who was forced to sell two motorcycles in order to keep his labradoodle and bichon frise in the $17,000/year lifestyle they'd grown accustomed to. Another had to turn down an offer to attend a wet tee-shirt contest in New Orleans. One man had to start shopping at Fairway and buying discounted salmon. All harrowing, to be sure, though none could quite compare to the story of Andrew Schiff, whose situation we wouldn't wish on our worst enemy. Schiff had almost too many woes to mention but they included having to scale back his Connecticut summer house rental from four months to one; the pressures of paying private school tuition for two kids; traffic (“Schiff was sitting in a traffic jam in California this month after giving a speech at an investment conference about gold. He turned off the satellite radio, got out of the car and screamed a profanity. ‘I’m not Zen at all, and when I’m freaking out about the situation, where I’m stuck like a rat in a trap on a highway with no way to get out, it’s very hard,’ he said”); and living in a smaller Brooklyn duplex than he wanted. "I'm crammed into 1,200 square feet," he told Bloomberg. "I don't have a dishwasher. We do all our dishes by hand. [I want] 1,800 square feet...three bedrooms, maybe four." But what we want and what we can have are often two very different things, and when one is hovering around the poverty line, it's difficult to imagine a way out of cramped quarters and washing the dishes in a sink, like some kind of hobo. Sometimes, though? Miracles happen. The director of marketing for broker-dealer Euro Pacific Capital Inc. has purchased a condo at 35 Woodhull Street in nearby Carroll Gardens for $1.23 million, according to city records...Besides more space, the four-bedroom, three-bath condo has “a huge private terrace off the master bedroom” and “jaw dropping views of Manhattan and the harbor.” There are 10-foot ceilings, “rich walnut wood floors,” and built-in speakers with an iPod deck, according to the listing. But what of the kitchen? Well, as Mr. Schiff and Ms. Barnes relax to the lulling whir and gurgle of their new dishwasher[!!!], they can gaze with pleasure at the stone counters, glass-tiled backsplash, Shaker cabinets, Liebherr and Bosch appliances and a Bertazzoni range. Lest anyone get too excited, though, Schiff would like to make it clear that the new digs are far from luxurious and actually quite similar to tenement house-living, pointing out to the Observer that the condo is "a walk up...about 50 yards west of the BQE." Andrew Schiff Finally Buys Own Brooklyn Apartment on Measly $350,000 Salary [NYO] Earlier: Nightmare On Wall Street