The finance industry continues to be one of the most exciting and varied job segments in most developed countries. Plus, if you’re passionate about the career path you’ve chosen, there are plenty of chances for growth and success.
One such career path is that of a CFA (Chartered Financial Analyst), where you get to help businesses and individuals make profitable investments. Of course, you’ll have to advance your investment knowledge and have solid communication and people skills (among others).
So, if you are a finance professional looking for exciting work opportunities and enjoy investments, here are a few vital steps to take to become a CFA:
1. Enrolling in the CFA Program
To start your journey toward becoming a Chartered Financial Analyst, you first have to enroll in the CFA program (before even registering for the Level I exam). To do that, you must meet a few conditions, such as being a bachelor’s graduate and at least four years of full-time work experience or higher education (or a combination of the two).
Candidates must also own an international passport and live in a participating country. Plus, you must be able to take the exam in English.
2. Studying for Your First CFA Exam
If you are accepted, your next hurdle is passing all three levels of exams. Each of these exams focuses on some specific aspect of the world of investment, such as portfolio management, equity investments, professional standards, and so on.
However, you need to be prepared to invest time and effort in these exams because it’s not easy to prepare. You should also try looking for reliable resources and tools, like the ones available at crushthefinancialanalystexam.com, to help you improve your study. Just keep in mind that the CFA Institute says that the average candidate spends about 322 hours preparing for each exam.
3. Obtaining Work Experience
The requirement to be a CFA charter holder also includes 48 months of “acceptable work experience.” This means working in financial and investment areas that touch on corporate finance, trading, or similar positions. The good news is that you can start working even before taking the exam – as long as you have the required work experience, it doesn’t matter when you take the exams (as long as you pass them).
Also, keep in mind that you’ll need a broad range of skills to become a successful CFA (not just finance and investments). Since you’ll be in direct contact with customers, you also need to know how to communicate with and charm your clients.
4. Submitting Reference Letters
Passing the exams and acquiring the required work experience are but the first steps of your journey to the top. However, if you use this time wisely, you can easily get what you need for the following stage – reference letters that attest to your skills and professional character.
These will come from people you’ve worked with, so work hard to create a solid network of supporters. Also, recommendations from current charter holders are quite impressive, so aim to get at least one of those.
5. Applying to Become a Charter holder
Once you’re here, your journey is coming to an end! All you have to do now is submit your request (and a payment) to the CFA Institute, and you should have an answer in about four weeks. If your submission is approved, you are officially a CFA charter holder!
Wrap Up
Overall, the path to becoming a Chartered Financial Analyst is pretty challenging, but if you take the time to prepare well for the exams and put in the work, no hurdle will be too high. So work hard and start building your support network!
