Certified Financial Analyst (CFA): A Bumpy Ride To Rapid Success
A CFA is determined to be a champion at his craft, whether it’s security analysis, portfolio management, business report or any other service.
Due to this many students are now getting into this field.The investment professionals with a CFA put in a significant amount of time and effort to improve their skills and knowledge for their clients. This comes as a great comfort to most investors – especially if they are mainly professionals who want advice to manage their financial affairs.
Daunting Course Of Study and Eligibility.
Having a CFA is a bit of a hard deal because it’s a difficult course of study. Let me briefly explain the amount of hard work a CFA puts in to complete this course successfully.
Sincere commencement is a prerequisite for success. This program requires extreme sincerity and motivation to achieve the ultimate goal.
To become eligible for the title of Chartered Financial Analyst, according to the CFA Institute, a candidate must be prepared for:
- 3 levels, each with a 6 hour examination at the end.
- 6 to 8 months for the preparation of the exam, at 10 to 15 hours per week.
- At least 4 years of professional experience in investment for the completion of the course.
Employment Options For CFAs
CFA is a global profession and more than 100 countries around the world are allowing professionals to get this certification. A major percentage of CFAs go to the buying side which includes Mutual funds, Client wealth manager advisor, banks, insurance companies, Hedge funds and foundations etc, while a lower percentage become Investment bankers. Other industries include research firms, government institutes and education. A Chartered Financial Analyst with less than one year of experience has a median salary of $51,046. A CFA with more experience has a salary range from of $63,898 to $147,260.
A CFA exam is a stressful process because not only is it a test of intellectual abilities, but also of stamina, diligence, resourcefulness and determination. It is designed in such a way so as to demonstrate one’s commitment to becoming a CFA charterholder. Studying to become a CFA might be difficult, but the financial rewards in the end are worth it.