For any graduate of finance or accounts, what comes potentially as the next step for a career-oriented option is the CFA exam. The CFA exam is challenging, extensive, and requires complete dedication to clear all three levels.
However, what makes CFA an important designation is that it offers a plethora of job opportunities and career flexibility. Moreover, the CFA exam supports both online and offline examination options, which is convenient for candidates. There is also Cfa online course available for preparation for the three levels.
It is recommended that candidates should roughly invest 300 hours for cfa preparation. The CFA designation is, however, not a regulatory requirement for a career in finance but the Cfa exam topics are designed to give an overall idea and knowledge of the finance discipline.
Eligibility for CFA:
Candidates with a bachelor’s degree are eligible to appear for the CFA level 1, 2, and 3 exams. The CFA credential boosts the career and gives a hike to the salary package. Let us check out the career options available after the CFA charter designation.
● Investment Banker: Most CFA candidates are keen to explore the investment banking career as it gives a great career boost and salary hike. Besides, there is a lot to explore in this career. Investment bankers perform various valuation methods and provide financial recommendations to expand the business and raise capital. They are equipped with exceptional financial skills and deep knowledge of economics concepts. The communication skill, networking, persuasiveness, and tenacity that they develop make them valuable assets to any business and are much in demand.
● Portfolio Manager: A portfolio manager manages the fund’s assets, develops and implements investment strategies, and manages day-to-day portfolio activities. A portfolio manager with the ability to develop ideas and exceptional research skills can make a difference in the career.
● Market research Analyst: A market research analyst would gather the knowledge and analyze the ongoing market trends from different sources to prepare a report on the same for the client along with recommendations. The market research analyst profile has a plethora of responsibilities, such as managing budgets, interviews and surveys, managing the data team and the data assistants, preparing recommendations based on collected data, interpreting data for the client, monitoring the data collection process, collecting the data and assimilating statistics, and also designing the questionnaire. With the completion of the CFA, one can apply for this job profile.
● Risk Manager: A risk manager is entitled to analyze, manage and control the risk elements of a business and determine the potential loss. They undertake the responsibility to manage liability programs, gather risk data, along with mitigating the risks if required. The most important skill for a risk manager is negotiation and diplomacy as it is required to prepare a risk management policy and for that negotiation with other departments is mandatory. A sharp analytical mind and excellent communication skills come in handy in this profile along with the CFA designation.
● Private Banker: Private bankers provide personalized financial services such as banking, investment, tax management, etc. to individuals and businesses. A private banker should be able to analyze financial information, create and implement recommendations, understand the banking and financial systems, and the ability to build a rapport with the clients to build trust.
● Consulting: Most candidates who are currently in the profile of consulting pursue CFA for career advancement and to gather more knowledge in the financing sector. Consulting is already a satisfying career and has the prospect to rise and develop in the long run but with a CFA designation, they are entitled to better approaches and financial hikes.
It is a well-known fact that CFA has great earning potential and with its acceptance across the globe, one can get varied career opportunities. Besides, the above-mentioned career options a CFA designation can also open doors for careers such as data scientist, accountant, auditor, chief investment officer, investment consultant, investment strategist, private wealth manager, etc.
Moreover, the CFA designation also appeals to the top recruiters and brings along prospective career opportunities. This is because the Cfa exam topics are designed to provide the candidates with an in-depth knowledge of the various financial concepts and prepare them for a career in finance.
Final Word:
With these varied career options available, it can be said that CFA is the door leading to the career of your dreams. However, it should be understood that before you make yourself mentally prepare for the CFA exams you must be having a goal before you or a career option that you are looking forward to achieving.
Moreover, you should enrol in a Cfa online course before appearing for the exams which will help in the preparations and final revisions. Although CFA is considered to open a wide range of professions in the financial and investment career. But if you are one of those who are not really into these professions, there is always another option of teaching. Teaching is regarded as high value and also interests some as you can help with the cfa preparation of others.
