Five Reasons Why You Should Pursue A CFA® Charter

Five Reasons Why You Should Pursue A CFA® Charter

Financial certifications are a great way to enhance your C.V and help you progress in your career in the financial industry. Earning a CFA® charter is a globally recognized certification for financial analysts and investment management that will give you an edge in the job market.

The CFA curriculum is challenging and rigorous, and you should dedicate at least 300 hours of study for each part. In addition to passing all three CFA exam levels, the CFA Institute indicates that you should put four years of work experience in a relevant role and adhere to their code of ethics.

However, the hard work is worth it because the charter gives you a deep understanding of financial topics, including portfolio management, financial analysis, derivatives, stocks, bonds, and ethics. This financial knowledge is critical if you want to pursue a career in corporate finance, such as an equity analyst, corporate financial analyst, research analyst, portfolio manager, and chief financial officer.

If you consider enrolling for the CFA program, here are five reasons you should take that first step.

CFA is the international gold standard for finance and investment professionals

If your goal is to advance your career in finance or investment, earning a CFA designation is an excellent investment. You enjoy global career mobility since it is recognized internationally as the gold standard for investment and finance professionals. There are more than 167,000 CFA charter holders all over the world.

The qualification is the same for all candidates globally. Consequently, your CFA charter is recognized by employers regardless of where you earned it.

Earning a CFA designation will enhance your financial career

A CFA designation will enhance your career in the financial industry whether you are already employed or want to make a change. The most popular career choices for CFA charter holders according to the CFA institute are;

  • Financial advisors
  • Risk managers
  • Relationship managers
  • Corporate financial analysts
  • Research analysts
  • Portfolio managers
  • Chief level executives

Additionally, the CFA designation complements other professionals who specialize in financial services and want to broaden their expertise in the field. As a CFA charter holder, you can work with international companies such as Ernst & Young, Citigroup, JP Morgan Chase, PricewaterhouseCoopers, Bank of America, Wells Fargo, among others.

In addition, since you can work in several roles with a CFA charter, you can earn more than candidates without the charter. According to Payscale, the salary scale ranges from $64,000 to $255,000 annually in the United States for individuals with the CFA designation. However, years of work experience and bonuses influence the salary you earn.

CFA enhances your knowledge in finance

The CFA exams are hard to pass because the curriculum equips you with extensive graduate-level knowledge of finance. Consequently, having a CFA designation indicates that you have the in-depth financial expertise and technical skills that potential employers need. Additionally, the CFA Institute regularly updates the learning material to ensure that it remains relevant.

CFA level I curriculum is broad and covers all relevant areas in finance. As the candidates progress to level II, the curriculum is more specialized and in-depth. Level III requires candidates to combine topic areas and have the skills to apply this knowledge to real-life situations.

CFA charter holders have unique networking platforms

The CFA Institute offers the program globally, and as a result, there are more than 164,000 CFA charter holders from164 countries. In addition, CFA societies present a unique opportunity for you to network with other CFA charter holders.

Additionally, CFA charter holders enjoy higher salary increments compared to non-holders. An internationally recognized designation also gives you a better chance of working for global firms with better pay.

The CFA charter is affordable

When deciding whether to choose an MBA or CFA, the cost of the course is one of the primary considerations. Although you need to pay for both courses, pursuing a CFA charter is relatively cheaper than earning an MBA. In addition, the cost of an MBA is higher if you choose an elite business school.

If you purchase premium exam prep packages, you can spend approximately $12,000 for a CFA program. On the other hand, the approximate average cost of tuition to earn an MBA is at least $80,000. Therefore, the choice you make will depend on your career goals.

The effect of earning a CFA or MBA on your future salary is also a consideration. The average salary of a CFA charter holder with at least five years’ experience is $72,000, while that of a business school graduate with similar experience is $57,000. Professionals with both certifications earn an average of $87,000.

How do I become a CFA charter holder?

The first step is to enroll in the CFA program from the CFA Institute website. To enroll in the CFA professional course, you should hold a bachelor’s degree or an equivalent or be in the final year of your undergraduate studies. You are also eligible to register for the CFA program if you have at least 4,000 hours of relevant work experience or 4,000 hours of the combined university and professional experience.

Secondly, you should sit for and pass all three levels of the CFA exams. Ensure that you have a valid international passport and live in a participating country to sit for the CFA exam.

If you want to start your journey to attain a CFA charter, contact and enroll in our study packages. You will access a vast library of study materials to help you prepare for your CFA exams. In addition, our online study notes and video lessons will help you assimilate the most complex concepts.

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