After completing a CFA program, a candidate can get a plethora of job opportunities in the financial beat. Know all about career after CFA here.
Career After CFA Programme
Career after CFA: CFA charter holders are equipped with skills to work at senior and executive positions in risk management, asset management, investment management, and more. The CFA credential can boost an individual's career exponentially along with the rise in the pay package.
Chartered Financial Analyst, also known as CFA is one of the most sought-after courses for aspirants interested in the finance fields. Candidates with a bachelor’s degree can enrol for a CFA course and appear for Level 1, 2 and 3 exams to become charter holders. The three levels of the CFA exam revolve around the fundamentals of investment tools, asset valuation, portfolio management, and financial planning.
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With a boom in the investment industry, finance professionals work closely with clients to make investment decisions, invest their money, manage their portfolios, and provide financial services. The scope of these services includes trading, asset management, and regulating financial systems as per the laws. Holding a CFA charter shall prepare candidates for various career options in the investment industry.
Q: Is there an age limit to appear for CFA?
There is no specific age limit for candidates who wish to take the CFA exams. The CFA Institute, which administers the CFA Program, does not impose age restrictions on candidates. The CFA Program is open to individuals from a wide range of educational and professional backgrounds, and candidates can pursue the CFA charter at any age, provided they meet the educational and work experience requirements.
However, it's important to note that to become a CFA charterholder, candidates must meet the following minimum eligibility criteria, which do not include an age requirement:
- Candidates must have a bachelor's degree from an accredited institution or be in the final year of their bachelor's degree.
- Candidates must have four years of qualified work experience in the investment decision-making process. This experience can be obtained before, during, or after taking the CFA exams.
- Candidates must agree to adhere to the CFA Institute's ethical and professional standards.
Q: How many times can one give CFA Exam level 1 in one enrollment?
Q: Which degree should I pursue after 12th if I want to do CA CFA and MBA in future?
Employers value the designation of CFA for functions in every finance industry sector, including portfolio management, analysis, personal wealth management and consulting.
Career After CFA: Job Profiles
CFA charter holders can be considered for multiple job profiles in the investment and financial industries. With the job roles revolving around the investment sector, here are some of the job profiles one can get after completing the CFA programme.
Portfolio Manager
Portfolio managers are financial professionals who are involved in making investment decisions. A portfolio manager is typically a client-based advisor working with individuals or businesses to manage investments. Job roles of a portfolio manager include:
- Implementing investment strategies to meet client goals
- Construction and management of portfolios
- Making decisions on what and when to trade investment securities
Many portfolio managers work within financial institutions to reduce tax burdens and recapitalise revenue. While a few portfolio managers work for individual clients to help them meet their long-term financial goals. Key skills required to become a portfolio manager includes:
Q: Can I apply for multiple CFA exam levels at once?
No, you can only apply for one CFA exam level at a time. The institute does not allow candidates to apply for multiple exam levels simultaneously. You will need to complete and pass one level before moving on to the next one. However, if you have already registered for an exam and would like to reschedule or cancel your registration, you can do so by visiting the CFA Institute's website and following the instructions provided.
Each level of the CFA exam builds upon the knowledge and skills acquired in the previous level. This sequential approach ensures that candidates have a strong foundation before advancing to more complex topics. It's important to note that you must meet the specific eligibility requirements for each level and pay the applicable exam registration fee for each level separately. So, to progress through the CFA exam, you need to pass each level one at a time, starting with Level I.
Q: Can I get a refund if I decide not to take the CFA exam after applying?
The CFA Institute has a refund policy in place for CFA exam registration fees. However, the refund amount and timing of the refund can vary depending on when you withdraw your registration. If the candidate withdraws the registration before the early registration deadline then, they may be eligible for a refund of the application fee except the processing fee.
If the candidate decides to withdraw the registration after the early registration deadline then they will be eligible for a partial refund, but the processing fee may be higher than for early withdrawals. The condition here is that the standard registration window should be still open.
If the candidate withdraws the registration after the registration window has closed, then they will not be eligible to claim a refund of the CFA application fee. The withdrawal deadline and refund policy for each exam window are typically published on the CFA Institute's official website and in the exam-related materials.
In some cases, if the candidate cannot take the exam in the registered window, they may have the option to transfer their registration to a future exam window. This option may be available for a fee, and the availability can vary by location and exam level.
Q: What is the eligibility criteria for appearing in CFA?
Candidates appearing for the CFA exam must fulfil the following eligibility criteria:
- They must hold an international travel passport
- They should live in the participating country since CFA institutes are not operational in some countries
- They should have at least 3,000 hours of qualified work experience or a combination of education and work experience for a total of four years.
- They should either be in the final year of the bachelor’s degree or have completed the degree
- They should pass the English proficiency test for reading comprehension and to formulate answers related to complex financial scenarios
Q: Does CFA require Mathematics?
Mathematics is covered in some of the Chartered Financial Analyst course material. The positive aspect is that most of these concepts just require basic math with an understanding of statistics and algebra. Therefore, you need to have your calculator ready before you appear for your CFA exams.
Q: Can I directly apply for Level 2 CFA exam without qualifying Level 1 exam?
No, you cannot apply for the CFA Level 2 exam before completing and passing the CFA Level 1 exam. The CFA Program has a strict sequential order. This progression ensures that candidates have a solid understanding of the foundational concepts covered in Level 1 before advancing to the more complex and specialised material in Levels 2 and 3.
- Investment strategy and process
- Execution and construction of a portfolio
- Risk management and performance measurement
Portfolio management is one of the primary job roles considered by CFA charter holders.
Also Check: Career as Financial Analyst
Risk Analyst/ Risk Manager
Businesses employ risk analysts or risk managers to reduce negative effects caused by events of risks including natural disasters, operational risks, or financial risks. Risk management professionals implement techniques or precautionary measures from future risks. Risk analysts are the individuals analysing future risks, while the risk managers implement techniques to reduce any unforeseen situation.
Key responsibilities of risk managers/analysts include:
- Interpreting data related to risk using Risk Information Management Software (RIMS)
- Evaluating the potential negative effects of future risks
- Identification of practices that would contribute to increasing financial risk
- Compiling reports to communicate the findings to stakeholders of the business
- Evaluating techniques to support the collection and interpretation of risk management data
Research Analyst
CFA charter holders can consider job positions in research analysis within the investment industry. Two major research analysis roles in the investment field include credit analyst and equity analyst. The roles and responsibilities of research analysts involve professionals to collect and evaluate data about investable securities/ companies and build earning models. In addition, research analysts conduct valuations and recommend the same to portfolio managers and/or clients.
Skills required to become research analysts include:
- Data analysis
- Industry and company analysis
- Financial analysis
- Financial modelling
- Valuation
Also Check:
Investment Banker
Investment bankers are professionals having the financial services industry expertise involved in the activities of raising capital, mergers, acquisitions, etc. These professionals lend their services to startups, established organisations, or governments. In return, investment bankers expect a fixed fee or a commission. An investment banker is a key player helping in the growth of an organisation. Job responsibilities as an investment banker include:
- Raising capital via:
- Book Building
- IPOs
- Prospectus Drafting
- Investment Meetings
- Selling or Issuing Securities
- Private Placement of Capital
- Mergers, Divestitures & Acquisitions
- Organisation Restructuring
- Hedge Fund, Mutual Fund, & Pension Fund Advisory Services
A CFA program provides complete knowledge of financial markets required to become an investment banker.
Also Check: Career as Investment Banker
Private Wealth Manager
Private wealth managers as the name suggests are the professionals helping investors of high-net-worth or ultra-high-net-worth in investment management and financial planning. With the fintech industry's growth, private wealth managers' role has considerably increased. These professionals can help individual investors in the analysis of the complexities of financial markets. These individuals also help families in managing their portfolios. Services of a private wealth manager include:
- Portfolio management
- Estate and retirement planning
- Taxation services
Key skills required to become private wealth managers include:
- Financial planning
- Communication skills
- Emotional intelligence
- Business development
- Relationship management
Also Check: Career as Wealth Manager
Alternate Career Options After CFA
Besides the careers mentioned above after CFA, candidates can also consider following career paths after completing the CFA program:
- Data Scientist
- Chief Investment Officer
- Investment Consultant
- Investment Strategist
- Accountant/ Auditor
Career After CFA: Salary
The table below mentions the average salaries of job profiles typically considered after CFA.
CFA Salary in India
| Job Profile |
Average Annual Salary* |
|---|---|
| Portfolio Manager |
INR 12.4 LPA |
| Risk Analyst/ Risk Manager |
INR 12 LPA |
| Investment Banker |
INR 17.5 LPA |
| Investment Officer |
INR 5.6 LPA |
| Research Analyst |
INR 4.9 LPA |
| Data Scientist |
INR 14.4 LPA |
| Private Wealth Manager |
INR 12 LPA |
| Investment Strategist |
INR 12.7 LPA |
| Investment Consultant |
INR 7.6 LPA |
| Accountant/ Auditor |
INR 4.4 LPA |
Source: ambitionbox.com
Career After CFA: Top Recruiters
Some of the top recruiters of CFA graduates in India are J.P Morgan and Co, The Goldman Sachs Group, HSBC, etc. The table below mentions the pay ranges of the CFAs by the employers:
| Recruiters |
Salary Package (in INR) |
|---|---|
| JP Morgan and Co. |
INR 7 LPA to INR 12 LPA |
| The Goldman Sachs Group Inc. |
INR 3 LPA to INR 16.5 LPA |
| HSBC |
INR 3.4 LPA to INR 23 LPA |
| Crisil |
INR 2.5 LPA to INR 9 LPA |
| Credit Suisse |
INR 10 LPA to INR 40 LPA |
| TATA Sons |
INR 9.8 LAP to INR 44 LPA |
| Deloitte |
INR 6 LPA to INR 30 LPA |
| Aditya Sun Life |
INR 13 LPA to INR 25 LPA |
| Bajaj Finance |
INR 4 LPA to INR 12 LPA |
| KPMG |
INR 4 LPA to INR 20 LPA |
| EY |
INR 6 LPA to INR 35 LPA |
| PWC |
INR 5 LPA to INR 20 LPA |
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Student Forum
Anything you would want to ask experts?Answered a month ago
Here are some practical tips to help you perform your best on the CFA exam.
- Financial Statement Analysis: Questions on this topic are based on International Financial Reporting Standards (IFRS) unless otherwise noted. If a question references U.S. GAAP, this will be explicitly stated.
- No penalty for g
A
Contributor-Level 10
Answered a month ago
Follow the steps mentioned below to learn how to fill out the CFA application form
- Visit the official website of the CFA institute
- Click on the application link or copy https://login.cfainstitute.org/LoginApplication.
- Create a login account with the candidate’s email ID.
- The candidate will be asked to e
A
Contributor-Level 10
Answered a month ago
CFA Charter Holders have the distinct advantage of applying their skills in several professional roles. They can work in areas like wealth management, hedge funds, fixed income, insurance and equity research.
A
Contributor-Level 10
Answered 2 months ago
The CFA exam is conducted in the computer-based test mode across various test centres. The students appearing for the CFA exam must carry their CFA hall ticket to the centre to gain entry at the CFA exam centre. Along with the admit card, students should also carry a valid international travel passp
Contributor-Level 10
Can you share some tips to prepare for CFA exam?