There are a variety of business analyst paths that you can pursue based on your interests and aspirations to enter and grow in the finance industry. For the purpose of this blog, we will be focusing on the Chartered Financial Analyst® designation (CFA).
The CFA designation is a cost-effective certification that is acknowledged worldwide and will offer you a holistic understanding of investment management. Here are five reasons why you must consider advancing your career through this highly valued distinction:
1. Better Job Opportunities
Although there isn’t one sure shot to guaranteeing a job, the CFA charter will definitely boost your attractiveness in comparison to a non-CFA charterholder. The CFA charter requires a considerable amount of discipline and commitment which is one of the reasons why employers demand for it as it demonstrates work ethic, analytical skills, and moral value to employers.
By demonstrating your profound understanding within the range of financial speculation and financial administration, it speaks volumes in terms of your understanding and work execution. Firms that center on the “buy side” incline towards CFA charterholders as compared to MBAs. Some of the top employers for CFA charterholders, according to CFA Institute are:
Ernst & Young
JP Morgan Chase
2. Reasonably priced
While an MBA can cost over $100,000, the CFA charter costs between $2,400 and $12,000, depending on when you enroll, what materials you purchase, and how many times you appear for the exams. This is quite a steal in terms of cost despite being a gold standard for investment analysis evaluation. Furthermore, you don’t need to quit your job like certain full-time MBA-programs either.
3. Professional Growth Opportunities
Completing the CFA Program offers you the chance to be a CFA Institute member, a worldwide network of over 135,000 venture experts. It’s known to be noteworthy as it helps members engage with one another for future job prospects and receive first-hand industry insights. Along with preparing candidates for varied investment-related occupations, such as portfolio or risk manager and research analyst, it has also helped about 7% of CFA charterholders to be chief-level officials.
4. Worldwide Recognition
As mentioned earlier, CFA Institute encompasses a worldwide network of over 135,000 venture experts which not only shows how valuable it is worldwide but how rare the charter is as well. The CFA charter is recognized by controllers, colleges, and certification programs in at least 30 nations and regions. It will not only help you achieve unmatched career assets and connections but will also help you apply for occupations around the world that require a CFA charter or candidacy.
5. Practical Expertise
The charter is considered specialty within the commerce world compared to the MBA, which addresses a wide cluster of topics with less profundity. Receiving the CFA charter permits you to pick up explanatory skills and expertise in quantitative strategies, financial matters, budgetary reporting, investments investigation, and portfolio administration. The acquired set of aptitudes and knowledge throughout your CFA Program journey will serve you well all through your career.
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