Like we said, CFA Institute has a global network of over , investment professionals. The CFA charter is recognized by regulators, universities, and certification programs in at least 30 countries and territories.
A CFA charter is considered niche in the larger business world compared to the MBA, which addresses a broad array of topics with less depth. Getting your CFA charter allows you to gain analytical skills and expertise in quantitative methods, economics, financial reporting, investments analysis, and portfolio management.
The direction and growth that the charter provides to financial career by establishing your credibility among top employers explains why you should pursue CFA exams. CFA charter is one of the most well-known professional qualifications in the world of finance.
It offers career mobility to the charterholders and irrespective of the country from where they have earned their charter, it helps them to be recognized favorably in the hiring process of financial services firms worldwide. CFA Institute has a global network of over , charterholders. It offers access to unmatched career prospects and networking opportunities.
Global recognition as the gold standard in the areas of investment analysis is one of the most important reasons why graduates as well as professionals from all over the world pursue the CFA exams. The cost also depends upon the study materials that are purchased and the number of attempts that one has taken to clear the exams. The reason why many finance professionals pursue CFA is because it does not require the candidates to quit their jobs.
The CFA charter is one of the most recognized professional qualifications in finance in the world. The great thing about this global recognition is that CFA charterholders enjoy better international career mobility.
For example, if you are planning on moving to Asia, having the CFA charter earned somewhere else would still be favorably recognized by Asian employers in their hiring process. It is the exact same qualification, and candidates are earning their charters all over the world. Currently, there are more than , charterholders worldwide in countries. A cost effective certification that will give you global recognition and a deep understanding of finance.
My rationale are as follows:. And yes, this also applies to the CFA charter. Nothing you can put on paper is a sure fire way of landing a job. Getting hired is a multi-stage process. Your CV and networking skills gets you the interview, and the interview is what gets you the job. No amount of CV padding is going to replace interview skills so you need to address all steps to successfully score the job you want.
Most of these surveys do not remove the effect of work experience either, which is one key driver of salary increase over time. The operative word here is "may. There are a number of financial fields in which having the charter is a substantial plus.
The obvious one is investment management. As the investment industry continues to become more competitive and more commoditized, it will become almost imperative for any credible investment manager to earn the charter. Outside of investment management, there are a number of other professions in which charter holders will benefit considerably:. Beyond this list, there are a number of professions in which having the CFA Charter helps, but where it is not a career roadblock if the financial professional does not have it.
The CFA charter is not a guaranteed path to riches and glory. Before taking the plunge, carefully consider several drawbacks to earning one. Becoming a CFA is a huge investment in time—a minimum of hours per year over three years. You will sacrifice time with family and friends and the pursuit of hobbies you enjoy. And after committing all that time, there is no guarantee that you will earn the charter.
While this factor may not be a major consideration, it is worth pondering. A level I candidate will pay a one-time program enrollment fee plus an exam registration fee. There is also the cost of the books and study programs you'll have to buy.
Altogether, you should expect to spend several thousand dollars each time you attempt the exams. The CFA is not a panacea for an ailing career. If you're enrolling in the program to jump-start a stalling career, you may want to look at other reasons your career is not moving forward first. Perhaps before investing inordinate amounts of time and a substantial amount of money into building your pedigree, you might choose to improve your soft skills , such as work ethic and political suaveness.
The difference between the two numbers is a result of the impact of cash bonuses and equity or profit-sharing. To become certified, you must pass the three-level CFA exam, build up work experience before, during, or after the program, submit several letters of reference, and apply to join the CFA Institute.
By most accounts, the three-level CFA exam is challenging to pass. Both the CFA and the MBA are valuable to financial professionals looking to develop their expertise, bolster their reputation, and advance their careers. Possessing both can give an individual a leg up as well. Financial professionals who work as money managers and registered investment advisors are especially keen to get a CFA.
A variation of the good old-fashioned cost-benefit analysis may be the best way to decide whether or not to undertake the program. On paper, plot out the costs versus the benefits of becoming a CFA.
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