Liszt's Ballade No. 1 is a virtuosic and highly dramatic work that unfolds like a complex narrative, employing a wide range of emotional expression and technical demands. Its intricate structure and passionate outbursts make it a cornerstone of the romantic piano repertoire.
The immense technical demands, including wide leaps, rapid arpeggios, and the need for masterful control of dynamic and textural changes, present the greatest challenge.
Ballade No.1 is rated Henle level 8 of 9 — concert repertoire, roughly diploma level.
You should be comfortable at Henle level 8 — meaning you can already play level 7–8 pieces cleanly. Learning it one level early is possible as a stretch piece, but more than that usually leads to months of frustration.
A typical performance of Ballade No.1 lasts about 11 minutes.
Ballade No.1 is available as free public-domain sheet music on IMSLP — the score is linked directly from this page.