Becoming a chartered CFA (Certified Financial Analyst) is a time consuming and difficult process. To become a CFA, you must complete certain educational and work experience requirements and pass three separate grueling exams.
It generally takes at least four years and usually longer to achieve a CFA charter.
So why do people choose this path? People decide to take this arduous journey because the benefits of being a CFA can far outweigh the hard work and dedication it takes to become one.
Getting your CFA charter requires a lot of hard work, great dedication, and hundreds of hours of study and preparation prior to the exams.
Excellent time management skills are also required to keep track of your study hours and ensure you meet the strictly scheduled registration and CFA exam dates. The exams themselves also require extensive knowledge, skills and determination to pass.
In addition to passing the exams, passing the charter requires additional work experience, educational qualifications, adherence to a code of ethics, and references.
All of these traits and actions work together to prove to yourself and others, especially prospective employers or clients, that you have a strong work ethic and commitment to your career.
Being able to add the CFA acronym to your title and resume is an advantage that many don’t realize the importance of until they have it.
The CFA designation is akin to the MD (Doctor of Medicine) or the PE (Professional Engineer) in the financial industry. That kind of prestige is hard to pass up and hard not to be very proud of.
A huge benefit of the strenuous CFA adventure is the financial boost it can provide. Studies show that having a CFA increases your chances of earning a better income more than any other certification or degree.
While having your CFA and MBA seems to lead to the highest salaries overall, having just your CFA was still largely more profitable than having an MBA degree without a CFA.
In addition, going through all the steps of the CFA program is generally less expensive than pursuing a master’s degree and allows you to maintain a full-time income while gaining work experience, unlike many master’s programs.
Having your CFA also seems to increase your chances of selection during the application phase and promotion later in your career.
The CFA charter holder is more specialized than an MBA and employers tend to rate that quality quite positively.
The CFA suffix to a name gives such a beneficial impression that many employers need it for the upper echelon positions and many MBA programs now even include CFA courses to help achieve the charter as an end goal.
These factors prove well how important a CFA is for financial trading.
One of the key benefits of getting a CFA is access to a vast network of potential employers and the top names and influencers in the business.
The charter is a deeply accepted and recognized indicator of proven competence due to its highly intensive and rigorous nature.
It is also one of the most widespread indicators of financial capacity, sanctioned and favored in more than 20 countries worldwide.
The international and eminent contact possibilities alone make the CFA predicate worthwhile.
Getting your CFA may be one of the most difficult tasks you will ever undertake, but the gains far outweigh the difficulties.
Your CFA charter can make you feel more rewarding, help you gain a good reputation, be much more profitable, take you to greater heights and connect you to some of the best and farthest corners of the world. the financial sector.
With all these options, it would be your loss not to go for your CFA!