Why is becoming a CFA charter holder important

Why get a CFA certification? The benefits and why the CFA program is important

The CFA designation is the most widely known and respected qualification for finance and investment professionals. Let’s see what’s in it for you!

1. The CFA is the most prestigious designation in finance and investment

First, if your goal is to invest professionally, then you are already aware of the reputation of the CFA Institute (CFAI) and its charterholders. No other professional designation carries the same weight for asset managers and other financial industry participants. A CFA designation provides the most value for research analysts and asset managers. These professionals are involved in portfolio management, pension funds, hedge funds, and fund of funds. Finally, they may also work in private banking and financial advisory.

Professionals outside of the typical finance roles are attracted to the CFA because it allows them to broaden their knowledge. Even more importantly, this designation helps them stand out from their peers. These professionals include accountants, auditors, lawyers and senior management in operations. Financial firms are seeing the value of having CFA charterholders in other areas outside their trading desks.

2. The CFA curriculum fills the holes in your knowledge of finance

If you’ve made a decision to aim for a long-term and successful finance career, taking the CFA exam and studying the curriculum is an excellent way to ensure you have a strong knowledge base and top-notch technical skills. The CFA program is designed to cover everything. And I mean everything that is directly or indirectly related in the finance and investment field.

3. The CFA charter provides unique networking opportunities

There are over 154K CFA charterholders around the world in 165+ countries, and the number is growing faster every year. Not only can CFAs be found in all major cities around the world, but CFA societies are now present in more than 70 countries. The number of CFAs is impressive, and it also gives you an unparalleled network that you can leverage for your career. There are job postings from CFA societies with companies specifically looking for charterholders. Although, the success of landing this type of job is much higher if you are actively networking within the society.

Also, unlike the accounting qualifications that are more geo-specific (e.g., ACCA in UK and CPA broadly in the US), the CFA charter is truly global. When your work takes you from Mumbai to New York or from London to Singapore, the value of your CFA designation remains the same.

4. You can waive licensing requirements as a CFA charterholder

Because the CFA charter is globally recognized, some countries have waived part or all of the requirements as licensed professionals, mostly in the field of investment and trading.

5. CFA certification is the ticket to work for major investment firms

While no finance or accounting qualification can guarantee that you’ll land a job, getting the CFA designation is a big help. With this designation, you’ll have a very nice inroad to securing a job with some of the biggest players in the finance field. Many companies will only hire CFA charterholders in their investment divisions; if you aspire to work in these companies, the CFA designation will give you a distinct advantage in your interviews.

6. CFA charterholders enjoy higher salaries

Part of the reason that CFA charterholders enjoy higher salaries is that many are hired by global financial institutions. And it’s no secret that these institutions tend to pay at a premium. But even if you work in a boutique firm or for small specialty hedge funds, as a CFA, you will be given better projects and consequently better pay. (So long as the firm values the CFA charter, of course.)

According to the last CFAI salary survey run before they ceased to perform them given the numerous factors that may affect the salary level across members, CFA charterholders enjoyed a 54% salary premium.
Once you’re ready to take that fateful step, we will be here to help!

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