Your light level will remain the same. Ibam.not sure about the leveling system if you arent lvl 34. But if you are, exp will change your character level but your light level which is average of your armor, weapons, class item, possibly artifact and ghost's lights, will be determining your atrach and defence power. You can stay level 40 with blue rare armor but your light level will be lower. So, you won't be doing much damage as a 34 with higher light level can