Benefits of pursuing CFA program on your career path

If your interest lies in the core finance and you want to soar high then CFA might be the ideal course for you. CFA is one of the most acclaimed specialisations in the area of finance, though it is often equated with an MBA, however, CFA focuses on the core Finance whereas an MBA has management in its core. It is one of the toughest examinations to crack and the passing rate varies every year, however, it is generally between 40-45 percent.

A CFA certified candidate is very much sought after by big consultancies and firms and even a fresher can earn between $150,000-200,000 if you're in the USA and INR 6,00,000-8,00,000 in India.

What is a CFA Program?

The Chartered Financial Analyst (CFA) Program is an expert certification offered universally by the American-based CFA Institute (formerly known as the Association for Investment Management and Research, or AIMR) to the professionals. The program covers an expansive range of topics like investment management, financial analysis, stocks, bonds and derivatives, and gives a generalised understanding in the area of finance.

CFA is a huge organisation with more than 100,000 professional and regional societies around the globe as its members. CFA Institute's main goal is to lead the investment calling internationally by setting the most astounding benchmarks of ethics, education, and professional perfection.

Before applying for a CFA certification program, a candidate must meet one of the accompanying instructive necessities. He/she should have four years of expert work understanding, a four-year college education or be in the last year of the four-year college education program, or a blend of expert work involvement and instruction totaling four years. For the undergraduate qualification, the bachelor's program must be finished before enlisting for the Level II exam. The CFA charter is considered a standout amongst the other financial jobs and is broadly viewed as the best in the field of investment analysis.

Three Levels

Post-enrollment, the candidate must pass each of the three levels of the CFA program in consecutively.

Level One Exam

The CFA level one examination is held twice per year in June and December. Knowledge of the candidates is examined across these topics- ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, and portfolio management and wealth planning.

Level Two Exam

The level 2 exam is conducted once every year in June. The examination is centered around the valuation of various assets and emphasizes the application of investment tools and concepts in contextual situations. The questions asked on Financial Reporting and Analysis are typically based on International Financing Reporting Standards (IFRS).

Level Three Exam

The level 3 exam is held once every year in June. It centres around effective wealth planning and portfolio management requiring the candidate to synthesize concepts and analytical methods in the entire curriculum.

After qualifying, the candidates have to take up CFA membership and strictly follow the strict Code of Ethics and Standards of Professional Conduct as laid down by the CFA Institute.

Why should you join the CFA Program?

1. Overall Recognition:

The CFA Program is the most by and large known and respected investment accreditation on the planet. Held across 180 locations around the world. There is no time limit for completing the program and you can take n-number of retakes. Alongside, your exam scores are legitimate all through and don't terminate like that of GRE and GMAT.

2. Practical Skills:

The CFA Institute is known for its outstanding integrity for more than seven decades. The curriculum is reviewed and new relevant things are added each year to keep the students updates about the best practices, frontier concepts, and lessons to deal with the dynamic and complex nature of the global investment profession.

3. Helping in Career Building

If you are in a job and want to upgrade yourself to get a better pay, position and other benefits, pursuing the CFA program can add value to your career, especially if you are from a finance background. You can easily pursue the CFA course, for it is a self-study program.

CFA Program revolves especially around the practical and fundamental investment knowledge which is a prerequisite for many career choices. Professionals who are already into Finance and Investment can gain deeper insights into their fields with the help the CFA program. This can add a value to their career path.

How much will you spend?

The fees to be paid for pursuing the CFA program can be divided into three levels.

a) CFA Enrollment Fee

This is a one-time expense of $450 while enrolling for the course when you apply for Level I exam. You don't have to pay again for Level 2 and 3.

b) CFA Exam Fees for Registration

This CFA enrollment expense is the equivalent for every one of the three levels, yet it differs relying upon when you desire to take the exam. If you apply 9 months prior, you will get a discount.

CFA early enrollment charge: $650

General application: $950

Late enrollment: $1,380

c) Curriculum Fee

The expense of digital books is incorporated into the exam fees, however, if you happen to make a hard copy of those ebooks, you will have to shell an extra amount of money.

Adding all the expenses it can be between $2,400 to $4,590 for taking the program.

Even though the course might be a tough nut to crack, however, you are successful it will usher a golden period in your career. You will be earning a salary that most people dream of and be a part of the elite circles while working for best companies around the globe.