What makes CFA significant?
Becoming a Chartered Financial Analyst is a huge deal.
- The CFA Charter is a professional domain that showcases your expertise in financial analysis and security valuation.
- The Charter is a credential of the CFA Institute created for the financial and investment professionals that have completed its program.
- The candidates must give at least 323 hours to prepare for the Level 1 CFA.
- There are three different levels of the examinations.
Important highlights of the CFA program
Before you start looking for options to pursue CFA, here are a few important things you need to know:
- The CFA exam is offered multiple times a year, giving sufficient time to the candidates.
- You must be a graduate and at least possess a bachelor’s degree or should be in your final year of bachelor’s to appear for the Level 1 CFA exam.
- The cost of the exam varies depending on where you take it. In the United States, the cost of the exam ranges between $3000 and $4000.
- The CFA exam is scored on a scale of 0 to 100 and the passing score is generally more than 70%.
- The CFA curriculum covers various topics, including ethics, investment analysis, asset valuation, and portfolio management.
- To pass the CFA exam, you need to have a strong understanding of financial concepts and be able to apply them to real-world scenarios.
6 Realistic Reasons You Should Pursue CFA
Despite such difficulties, why exactly is a CFA program ideal enough for you to pursue?
Well, here are a few key reasons that might help you decide to ultimately pursue CFA.
1. Better job opportunities
Even though nothing on your resume guarantees you a job, CFA can positively impact finding job opportunities for you.
Employers from professional industries like JP Morgan, HSBC, or Morgan Stanley, actively seek CFAs.
As the domain is very well respected, about 90% of employers prefer having a CFA professional in their investment management firms as compared to somebody else with other financial qualifications.
The CFA charter adds authenticity to your resume. As it gives you a wide understanding of asset management, investment analysis, and other important fields of finance, there’s a lot of scope for you in this field when it comes to learning and earning.
2. Global Recognition + Global Demand
The CFA charter is also a globally recognized career option in the world of finance. This is because the need for finance professionals is alike in almost every country.
Surprisingly, there are over 190,000 CFA charter holders in over 160 countries, with an annual growth rate of 6% for 2012-2022.
One of the best things about CFA professionals is that they also enjoy international career sustainability. People across different countries want them alike, making it easy for them to switch from one place to another.
In the same way, if you’re planning on moving to any European country, having the CFA charter earned somewhere else is still favorably recognized by European employers.
3. A post-graduate-level knowledge of Finance
By now, you already know how difficult CFA exams are to pass.
And there’s a reason for that.
The difficulty level in CFA exams allows you to thoroughly understand every important financial concept which you can further use to solidify your career in this field.
Acquiring a successful certification of CFA puts your knowledge to the test and is a strong indicator of your intelligence in the field. This kind of knowledge is the same as a graduate level in Finance or related fields.
The essence of CFA is that even though it’s difficult, it’s very well worth the effort.
4. Diverse career options
The CFA program isn’t just limited to investment banking or such domains.
Rather, a CFA program is going to open doors for plenty of other opportunities for you as well.
With the growing financial landscape across every country, the options for CFA professionals ahead are also immeasurable.
From Fintech to managing personal and corporate portfolios, there are dozens of career options for CFA professionals. Because of the demanding curriculum of the course, your hiring options are going to be better as charters are well-prepared for all kinds of demanding roles ahead.
5. A faster career growth, through networking
Not just in India but across the world, there are millions of other candidates preparing for CFA exams just like you.
The alumni of these exams have a strong connection with the students pursuing it currently, making it easier for you to connect with them and learn from their experience.
You can find a variety of CFA groups that are willing to learn and share knowledge with each other.
Being part of such clubs and groups can not only increase your network but can also increase your chances of cracking the CFA exam due to the knowledge and experience involved in these groups.
6. Equal to and cheaper than an MBA
The difference in pursuing either CFA or MBA completely depends on your goals.
If you want to build a strong career in finance, the CFA certification is the right option for you.
On the other hand, if you want to pursue a career beyond finance or just switch industries, MBA is also an option.
Not to mention, a lot of people have done both.
However, where you can draw the difference is that the CFA Level 1 exam is comparatively cheaper as compared to MBA. Where an MBA program can cost anywhere from 70 to 100 thousand dollars, all levels of the CFA exam will only land up to $10,000.
Conclusion
Although CFA isn’t everybody’s cup of tea, the students that pursue it usually end up reaping more benefits than most other students.
What matters is how well you are prepared and how willing you are to sacrifice for this domain.
If you are looking for a free course where you can start your preparation for the CFA Level 1 exam, we at CFI Education have got you covered.
Our platform offers a completely free CFA level 1 training program through which you can start your preparation from your home at no cost.
