5 Benefits of Becoming a CFA Charterholder - YouTube

obtaining a CFA Charter is a notoriously challenging process that requires

extensive theoretical knowledge and practical experience in the field of

Finance however in most cases the value of earning the CFA designation outweighs

the cost of fees and time spent on exam preparation having said that let's see

the five major benefits of becoming a CFA charterholders benefit number one

you earn a globally recognized professional designation the CFA Charter

is probably the best globally recognized professional qualification in the field

of Finance this means that once you earn it you get a higher chance of finding a

job at any company no matter where it is located as we shall see later many top

companies all around the globe valued the CFA qualification and choose to work

with CFA charterholders secondly to become a CFA charterholders you need to

undergo intensive training in a number of areas one of the requirements to earn

the designation is to pass three quite difficult exams covering a broad variety

of topics such as economics quantitative methods financial reporting equity and

fixed income alternative investments portfolio management corporate finance

and derivatives to that end you will have to go through a rigorous exam

preparation even highly qualified professionals with a lot of professional

experience risk to fail if they don't prepare well historically pass rates

have been under the 50% mark as per the CFA Institute records so no doubt the

CFA exams are quite tough but this is actually one of the best things about

them the more you learn the better prepared you are right moreover

obtaining the CFA Charter is cost effective the price you pay for

obtaining the CFA Charter is relatively low compared to more expensive and

time-consuming alternatives such as MBA programs for example overall to get the

CFA qualification you have to pay several thousand dollars for

registration fees and learning materials moreover you don't need to quit your job

to study for the exams most people prepare while working full time in

contrast a full MBA program can cost you a lot of time as well as tuition fees

and living expenses of $100,000 or even more

we shouldn't forget that the CFA Institute offers scholarships for

students professors and other candidates who cannot afford to pay the full

registration fee for the program the fourth benefit of becoming a CFA

charterholders is that you get more career opportunities it is a well-known

fact that the biggest banks in the world such as Morgan Stanley Bank of America

Barclays and Goldman Sachs employ a high percentage of Chartered Financial

Analysts this is also valid for many big private equity and asset management

firms while obtaining the Charter does not guarantee you a job in any company

it definitely makes your resume more attractive another benefit you get by

earning the Charter is that you join a global network of around 170,000 top

industry professionals there are approximately 170 locations in

the world where you can meet members of local CFA societies they organize

various events to help you expand your professional network and keep up with

your continuing education that said by receiving the CFA Charter you improve

your chances of getting a higher salary in general when occupying the same job

positions Chartered Financial Analysts receive higher salaries compared to non

CFA charterholders the CFA Institute estimated that in 2018 professionals

with a bachelor's degree and the CFA designation earned around 163 thousand

dollars on average while professionals with a bachelor's degree who were not

CFA members earned about half as much the results covered different

professions that can be practiced by CFA charterholders however it is important

to note that compensation depends on other factors such as an employer size

and strategy various economic conditions and quite importantly an employee's

performance needless to say to get the maximum

salary for your job position you need to be an outstanding worker to sum up

holding the CFA Charter is a true testament that you have extensive

theoretical knowledge and practical experience in the field of financial

analysis portfolio management and investments the qualification is

globally recognized so you can easily apply for a job at top companies and

compete successfully with other it's