Clearing the CFA level 1 or even the subsequent levels can prove to be good challenges, but the benefits you would reap will make this venture quite worthwhile. All the doubts that you might have had before applying for the CFA would perish. You would surely have sleepless nights and lose the fun on your weekends to prepare for the exam. But you would soon forget these when they earn the CFA charter. You would have a pool of opportunities before you.
To earn the CFA charter, you need to pass each exam. Three levels stand between an aspiring candidate and the CFA charter. It is not possible to earn the designation without completing 48 months of work experience. Some of the advantages of being a CFA are listed below:
1. A shining CV with a more attractive pay package
A person going through the CFA exam would indeed go through excellent education. Not many people can claim to be a CFA, and it stands out in the CV. Thus, you would be more confident in an interview. With the qualification, if you work in a company that understands it worth, you would earn an attractive salary. However, you need to keep in mind that you need your work experience matters too. It is not about your theoretical knowledge, but what you can do in practice. Working hard and smart always benefits you in the long run.
2. Time and cost-effective
If you want to get into investment banking, the CFA qualification is the right choice. With proper online learning and the perks of the CFA certification, you would be equipped very well. It is very suitable for individuals who do not have the time or resources to go through the entire MBA program in top-tier universities. It is not really possible to equate or compare the two courses; the CFA charter would more benefit certain career paths. Stockbroking, portfolio management, and investment banking are definitely among those sectors.
3. Better job prospects and growth
The CFA societies and charter holders worldwide can help you access better resources that will boost your career prospects. Job opportunities are explicitly posted for charter holders. If you are part of these societies, it will boost your networking opportunities, and you can work in your dream position. Charter holders are suitable for areas like hedge funds, asset management, equity research, or fixed income. The CFA course focuses hugely on portfolio and financial management, among other investment scenarios. The firms value the knowledge base and offer preference to charter holders compared to other candidates.\
4. Credibility and respect from the industry
It is known that the CFA institute is quite prestigious and the qualification is valued in the finance industry. People understand that the intense process of the exams prepares them well. Thus, when the charter holders enter the institute, the path before them becomes clearer.
Qualifying the CFA proves beneficial in more than one way. In addition to these, you would find plenty of reasons to become a CFA.