How CFA Charter will land you Job with higher salary and growth prospects

International standards and certifications are considered as a benchmark for professionals who want to expand their career. The Chartered Financial Analyst (CFA) certification is the most recognized certification in the financial analysis domain. It is an accreditation exam that tests candidates on their competence, knowledge, and understanding of financial statements. This ensures you get hired with higher pay and better job prospects.

The demand for chartered financial analysts continues to rise throughout the world, because of growing transparency in market transactions and increasing merger activity among public companies. Getting a CFA charter can open doors to a lucrative career in investment analysis or related fields such as accounting or law.

Read on to know more about why getting CFA Charter is important and how you can achieve that sooner than later:

What is CFA and why you should get the accreditation?

Chartered Financial Analyst (CFA) is one of the most reputable and sought after financial analyst certification. The CFA institute, the governing body of CFA, is the world’s largest association of investment professionals. The institute also sets the standards and requirements for the CFA charter. CFA stands for ‘Chartered Financial Analyst’.

In simple terms, CFA is a professional designation that certifies the expertise in finance and investment. It is a globally-recognized certification that proves your expertise in financial analysis, equity research, and portfolio management. CFA charterholders work in varied roles and industries such as investment management, equity research, equity sales, hedge funds, or in financial planning and analysis. You will find CFA charterholders working in commercial banks, credit unions, and insurance companies. CFA is a registered trademark of the CFA Institute.

Why getting CFA Charter is important in today’s time?

The financial and investment landscape is undergoing a major transformation, with technology and digitalization revamping the way businesses operate. Different regulatory changes across industries and growth of new investment channels like Robo Advisory has led to a steep increase in financial analysis and research.

CFA charterholders are expected to play a pivotal role in this new landscape. They will be equipped to not only understand the financial statements but also be able to interpret them to forecast the future of businesses. They will also be skilled to identify new trends and developments in financial markets and advise clients on their investment options. CFA charterholders can earn a salary that is on average $100,000 per year. Many employers offer signing bonuses and other benefits to attract the best talent.

How to become a CFA charter holder?

The CFA program is a rigorous and challenging process. You will have to practically immerse yourself in the world of financial analysis and research to pass the CFA Level 1 exam. The process is as follows: You will be expected to have a bachelor’s degree in any subject to apply for the program. The minimum prescribed duration is three years. However, the time may vary depending on the institution where you are studying.

You will have to take up a position as a financial analyst or investment analyst during the summers before you attempt the Level 1 CFA exam. This will help you familiarize yourself with the real-world challenges. You will have to be above the age of 19 and below the age of 32 years to apply for the program.

Pros of getting CFA accreditation

CFA is a globally recognized and reputable certification. Most employers expect the CFA charterholders in the post of financial analysts. CFA charterholders earn large salaries (on average $100,000 per year). Full-time job opportunities are available with signing bonuses, other benefits, and a promising career path. CFA holders are expected to be skilled to interpret financial statements, forecast the financial future of businesses, and identify new trends in financial markets.

CFA charterholders are expected to play a pivotal role in the new financial landscape. Technology and digitalization have revamped the way businesses operate. Regulatory changes and growth of new investment channels like robo advisory has led to a steep increase in financial analysis and research.

Cons of getting CFA accreditation

The CFA program is a rigorous and challenging process. You will have to practically immerse yourself in the world of financial analysis and research to pass the CFA Level 1 exam. CFA is a costly program, and the requisite investment will vary depending on your study pattern and approach. You will need to find a balance between studying and earning to fund your education.

CFA charterholders have to pass the Level III exam and have to work in a relevant industry for two years. Only then they can be designated as a Chartered Financial Analyst. CFA charterholders are expected to have an in-depth knowledge of accounting and finance, risk management, portfolio management, corporate finance, economics, statistics, and corporate finance.

Final Words: Is getting CFA charter worth your time and effort?

If you are an aspiring financial analyst or want to pursue a career in investment analysis, CFA is one of the most respected and sought after certifications. Earning the CFA designation is a long and challenging process. You will have to practically immerse yourself in the world of financial analysis and research to pass the CFA Level 1 exam.

The process is as challenging as it is rewarding. CFA charterholders earn large salaries and are expected to be skilled to interpret financial statements, forecast financial future of businesses, and identify new trends in financial markets. If you are looking to kick-start your career as a financial analyst or planning to switch to investment analysis, CFA is the right certification for you.