Home > CFA® > Why Pursue the CFA Designation?

Why Pursue the CFA Designation?

Deciding on whether you should pursue the CFA designation is a tough choice for many people. Most people who do pursue the CFA designation already have a master’s degree in Finance such as an MBA degree and they take up the CFA charter in order to enhance their career.

A CFA designation can significantly enhance your career prospects and compensation. All the major employers demand CFA charterholders for senior positions in securities research and investment management. In some cases, it is also required for Financial Advisor roles. Many financial institutions have also started demanding CFA charterholders for mid-level positions. Sometimes all the CFA knowledge may not be necessary for performing your job. Even then, the CFA charter is a prestigious credential and it enhances your worth and credibility as a financial professional.

The key positions that benefit from a CFA Charter are: Portfolio Manager (21.7%), Research Analyst (14.5%), Chief Executives (7.0%), Consultant (5.4%), Relationship Manager (4.5%), Risk Manager (4.2%), Financial Advisor (4.1%), Corporate Financial Analyst (4.0%), and Investment Banker (3.8%) – Source: CFA Institute.

The CFA designation is recognized worldwide with over 100,000+ members. Once you get your CFA designation, you get access to a distinguished global network of finance professionals, which you can leverage to your advantage.

As any professional certification, the CFA credential shows that you have achieved a certain level of proficiency in a specific domain of knowledge. In terms of knowledge enhancement, it complements the MBA degree because in your MBA, you broadly learn about managing business and important finance topics. The CFA curriculum is focused on the investment industry and can provide you an in-depth knowledge on the subject.

Not everyone completes their CFA journey. Many people do not pursue all three levels because of various reasons such as work pressures or other responsibilities. It is a tough exam and requires a lot of dedication and time commitment. According to the CFA Institute, it takes four years, on average, to complete the program. For each exam, you require six months of preparation with a minimum 250 hours study time, that is, about 10 – 15 hours per week. With or without a busy work-life schedule, the exams are not an easy task for most people.

Even though the CFA Charter is extremely difficult to obtain, it provides tremendous benefits for professionals in the investment industry. Before you commit yourself to pursuing the designation, you should understand your current situation and do research on how the CFA charter will benefit you. You should also weigh your strengths and weaknesses and assess your career goals and ambitions.

Article contributed by Finance Train – The goal of Finance Train is to help you learn about anything in finance. Checkout the CFA Exam Preparation Supplements offered by Finance Train.


Categories: CFA®
    January 17, 2011 at 5:39 am


  2. Hari prashanth
    January 29, 2011 at 2:40 am

    He means the CFA from http://www.cfainstitute.org

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