Getting the CFA Designation: Is It Worth It?

Is becoming a CFA Charterholder worth it and does it require a lot of work?

Most finance professionals would agree that because of the breadth, depth and difficulty of the exams, the CFA designation is still the gold standard​. Also, what used to be a “nice to have” has now become a must have. ​In fact, the job market is flooded with job descriptions that will list the CFA designation as either a requirement or an "asset" for the job candidate.

There are more Charterholders now then there were a few years ago but the demand for them has also increased dramatically. CFA Charterholders are no longer just sought-after for investment management roles. The competencies developed through the three exams makes them suitable for a variety of roles in areas like strategy, operations and technology.

"For me, completing the CFA program helped propel my career and hone in my analytical skills. Additionally, the process was a great character-building experience; failing levels 1 and 2 multiple times after coasting through university was humbling and taught me how to study. Also, the fact that it was so difficult to obtain only reinforced why it was worth pursuing." indicated Joseph Lutfi, CFA, Senior Manager and Investment Counsellor at RBC Royal Trust and Lecturer McGill University.

Here are some tips for new candidates:

1. Start studying early, study often and do as many practice questions/exams you can get your hands on.

1. If you have trouble with study discipline like I did, make a schedule, team up with other candidates and/or enroll in a prep program.

3. Prepping for the CFA exams requires a lot of time, energy and dedication.

1. Lastly, be honest with yourself. Simply reading the material is not studying.

Good luck!

 

Text provided by McGill University