5 Benefits of Becoming a CFA Charterholder

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 out weighs 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 charter holders. Secondly to become a CFA charter holders 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 more over 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 charter holders 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 charter holders 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 charter holders 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 upholding 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 others.

So those were the 5 Benefits of Becoming a CFA Charterholder.

Wish you all a happy learning.

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