Understanding CFA before you take the plunge
You might easily find someone in the finance world who is either getting ready for the CFA or has already taken a step into it. Not always do they have a good idea of what they are getting into. So, what is CFA and why should you pursue this course? The CFA is a finance course offered by the CFA Institute. It has been specially designed for those finance professionals who want to excel in the fields of portfolio management and investment analysis. Here are some of the things that you would want to know about the charter.
Passing the CFA is no child’s joke
A lot of people feel that fulfilling the educational requirement is a huge step in earning the charter. This financial analyst course is considered as the gold standard in its domain and the pass rate for the entire course stands around 10%. So, it is easy to guess that it is too much of a commitment. Earning the charter is a grueling process. Before you set down to earn the charter, make sure that you have weighed the pros and cons and you are sure that the charter would benefit you. You will need to pass all the levels, have the necessary work experience and submit two or three professional reference letters.
The CFA levels have different difficulty levels and timings
In case you are thinking about the CFA registration, you need to know that levels have different timings. CFA level 1 is held in June and December every year. Levels 2 and 3 are held only once a year in June. The pass rate of level 1 is around 43%, for level 2 it is about 45%, and about 56% for level 3. In order to get the charter, the candidates need to go through all the exams. An average of 300 hours of study is required for each level. This required amount increases with the levels.
How can the charter benefit you?
The CFA charter obviously has an educational benefit. You would learn a great deal and you would be able to add a lot of credibility to your CV. You can take coaching from a CFA course in Delhi in order to learn the knowledge and skills you would be required to deliver in your role. It might increase your salary or even help you put yourself in front of other candidates without the CFA charter. It might not be the ticket to financial paradise, but it will certainly put you in a favorable position.
CFA enrolment will not come cheap in terms of time and money
Even though the cost factor is not huge, but it is certainly worth considering. Even though it costs much less than an MBA, it would cost quite a lot. Also, it would take you around 3 years to prepare for the exams, clear them and earn the charter. However, you would be able to work on your job and prepare side-by-side. It would be useful to make use of the lockdown to prepare for the exam.
These are some of the things you need to understand before you apply for the CFA.
