For people who are interested in a finance career and are looking for certifications that will provide an in- depth understanding of financial concepts and offer global recognition, CFA designation is the right choice. The program comprises of three levels of exams and requires four years of relevant work experience in order to be eligible for becoming a CFA charterholder. Getting the charter may seem to be a demanding process but the boost it gives to your career makes the hard work worthwhile. It will open a world full of opportunities before you. Therefore, if you are wondering why pursue CFA exams, following benefits may help you take the decision:.
Reason 1: Better Job Prospects
While nothing on your resume guarantees you a job (even the CFA charter), the charter will boost your finance credentials. People in the industry know the time and discipline it requires to become a CFA charterholder. Earning the charter demonstrates your work ethic, analytical abilities, and ethical grounding to employers.
The CFA charter is not the golden ticket to landing your dream job; however, it will give you deep knowledge in the areas of investment analysis, asset management, and ethics. It will also speak volumes to your credentials and work performance. Firms that focus on the “buy side” (investing institutions like mutual funds, pension funds, and insurance firms that buy large portions of securities for money-management purposes) prefer CFA charterholders to MBAs. And that’s powerful motivation to ask how do you become a CFA.
Reason 2: The CFA Charter is Affordable
While an MBA can cost over $100,000, the CFA charter only costs between $2,400 and $12,000, depending on when you register, what study materials you buy, and how many exams you end up taking. For a professional qualification, that is quite a bargain. You also don’t have to quit your job, unlike some full-time MBA programs. While hectic, it is manageable to study for the CFA exam while you work.
Reason 3: Career Advancement Opportunities
Completing the CFA Program allows you to become a CFA Institute member, which is a global network of over 135,000 investment professionals. That’s a pretty impressive club to join for the networking opportunities alone. The charter prepares you well for a variety of investment-related jobs, such as portfolio manager, risk manager, and research analyst. Seven percent of CFA charterholders even go on to be chief-level executives.
Reason 4: The CFA Charter is Globally Recognized
Like we said, CFA Institute has a global network of over 135,000 investment professionals. The CFA charter is recognized by regulators, universities, and certification programs in at least 30 countries and territories. You’ll gain unmatched career resources and relationships, as well as access to jobs around the world that require a CFA charter or candidacy.
Reason 5: Real-World Expertise
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. This set of skills and knowledge you will develop as you become a CFA charterholder will serve you well throughout your career.