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The Chartered Financial Analyst (CFA) is an internationally recognized designation earned by investment professionals. The CFA charter demonstrates mastery of financial analysis and security valuation. However, as prestigious as this course is, it is equally difficult to qualify for its exam. According to the CFA institute, candidates must at least give 323 hours for the preparation of the Level 1 CFA

Yet, even after so many difficulties, there are millions of candidates who prepare for this exam, and in this blog, we will discuss the reasons why this can be a great career option for you as well. So, let’s get started without any delays.

What is CFA?

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The CFA exam is one of the most difficult exams in the world. It is a three-level test that covers a wide range of topics in finance. To pass the exam, you need to have a deep understanding of financial concepts and be able to apply them to real-world scenarios.

The CFA exam is not easy, but it is worth it. The credential can help you advance your career and to increase your earning potential. If you are thinking about taking the CFA exam, here are some things you need to know:

  • The CFA exam is offered multiple times a year, giving sufficient time to the candidates.
  • You must be a graduate and at least possess a bachelor’s degree or should be in your final year of bachelor’s to appear for the Level 1 CFA exam.
  • The cost of the exam varies depending on where you take it. In the United States, the cost of the exam ranges between $3000 and $4000.
  • The CFA exam is scored on a scale of 0 to 100 and the passing score is generally more than 70%.
  • The CFA curriculum covers a wide range of topics, including ethics, investment analysis, asset valuation, and portfolio management.
  • To pass the CFA exam, you need to have a strong understanding of financial concepts and be able to apply them to real-world scenarios.

If you are thinking about taking the CFA exam, be sure to do your research and understand what it will take to pass. The CFA Institute offers a wealth of information on its website, including a breakdown of the curriculum and practice questions.

Reasons To Pursue CFA

We hope that by now, you are well-versed in the CFA program and its different features. Now, let’s discuss the main reasons for pursuing this popular finance grade.

1. Prestigious Course in Finance

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The Certified Financial Analyst (CFA) credential is a prestigious certification in finance that is held by many of the top professionals in the industry. Earning the CFA designation requires passing comprehensive exams, which test candidates on their knowledge of investment analysis, portfolio management, and securities valuation.

The CFA credential is highly respected in the financial industry, and those who hold it are typically seen as industry experts. The CFA curriculum is constantly updated to reflect the latest changes in the market, so CFAs are always up-to-date on the latest trends and developments.

2. Great Career Options

If you are looking for a career with a lot of potential, you may consider becoming a CFA. CFAs are finance professionals who have earned the prestigious designation from the CFA Institute. There are many reasons why becoming a CFA is a great career option.

The first reason is that CFAs are highly sought after by employers. Because the CFA credential is respected, companies know that CFAs have the skills and knowledge to do the job well. In fact, according to a recent survey, 90 percent of employers said they would prefer to hire a CFA for their investment management firms than someone with other finance qualifications.

Another reason to become a CFA is the high salary potential. The average salary for a CFA is $115,000, but salaries can range from $50,000 to $350,000, depending on your experience and position.

Finally, CFAs enjoy many benefits and opportunities that other finance professionals do not. For example, CFAs have access to exclusive job postings, networking events, and continuing education opportunities.

So, if you are looking for a rewarding and lucrative career in finance, becoming a CFA is a great option.

3. In-Depth Knowledge of Finance

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The CFA designation is a globally recognized certification that provides a great foundation of knowledge in finance. Earning the CFA charter demonstrates a high level of competence and commitment to professionalism in the field of finance. The CFA program is rigorous and covers a wide range of topics, from investment analysis and portfolio management to financial reporting and ethical standards.

The knowledge gained from the CFA program is invaluable for those working in finance or aspiring to work in finance. The CFA community is large and highly respected, and the designation opens up many opportunities for career advancement.

4. Network With Top Professionals & Grow Your Career Faster

As we’ve already said many times, CFA is not just an exam that anyone can crack with some hard work. Instead, it is among the toughest exams and takes sheer effort and financial knowledge to be a part of CFA’s prestigious communities. 

This is why there are only a very few professionals who have cracked this exam. Becoming a part of this group means a lot of perks for you. First, you can instantly network with some of the sharpest minds in the world and share your knowledge with each other. This helps you understand more complex terms in the finance industry that will help you in your career. 

Through this networking, you can also leverage your career as these professionals have connections in the top companies, and it may benefit you as well. So, there is a lot in the networking part for you if you are preparing to become a CFA in the future.

5. Worldwide Recognition

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Although CFA is a popular program in the west, people seem to doubt if their certification would hold the same value in the east as in Asia. Well, it does hold the exact same respect and value in every corner of the world.

You can easily land a good job for yourself anywhere with a CFA certification. Currently, there are only 175,000 CFA charter holders globally, and this creates a lot of demand for these professionals. As the CFA exam is headed by the CFA institute across the world, there is uniformity in the exams and the value of its credential. Hence, people seem to value any CFA professional irrespective of their nationality or race.

6. Good Return on Investment (ROI) & Cheaper Than an MBA

Appearing for the CFA Level 1 exam is much cheaper and more affordable for a candidate who wants to pursue a career in finance in comparison to MBA. On the one hand, where an MBA program can cost anywhere around $100,000, you can become a CFA for a very cheap price.

Even after all three exams, your exam fee will land up to around $10,000, which is a very good ROI considering the high salary packages offered to the CFA charter holders. Hence, it is always the better option to opt for CFA than an MBA program.

Pro Tip

If you are looking for a free course where you can start your preparation for the CFA Level 1 exam, we have got you covered. Our platform offers a completely free CFA level 1 training program through which you can start your preparation from your home at no cost. After going through this course, you’ll be able to answer How to prepare for the CFA Level 1 exam.

Check out our additional courses as well if you want to pursue a career in finance other than CFA.

Wrapping Up

Lastly, it is very important to understand the complete structure of the CFA exams before actually making your decision. There is no doubt that CFA is a tough exam to crack, and if you don’t have the time to invest in this program, it is better that you take some time and then start with your prep. Overall, CFA is a certification recognized throughout the world, and it can surely take your career path to the next level.