In today’s business environment for a better footing and climbing up the corporate business world a specialization in MBA is a must. But if you want to gain a better edge and acquire more features in your hat for a unique proposition of your career structure with a more specialized field, a qualification in CFA will certainly prove beneficial.
A CFA designated person is viewed and regarded as one of the highest levels of the investment management fields are presided to have more in-depth knowledge about the investment industry, ranging careers from a portfolio manager to a research analyst which is required in hedge funds and also in private equity firms.
Getting through the exams is a hard nut to crack. It is not at all simple accomplishment; the study toward it takes a few years concentrating and giving time of at least three to six hours a day to get out with flying colors.
Who are more appropriate enough to get a CFA qualification
If you are into finance or an investment professional manages money for a living are the most appropriate person who can think of getting this degree. Furthermore, if you happen to be a research analyst in finance and corporate, you may be working as a CEO for an organization or as an independent consultant or a risk management specialist and of course an investment banker can further enhance their career prospects by adding this feature in his cap. This qualification provides a mark to all the institutional practitioners and also who are working independently.
Why opt for CFA
There is a vast demand for CFA professionals, mostly in mutual fund companies as portfolio managers. As the demand for this type of professionals are high, the prospect is huge and overwhelming. Salaries go double or sometimes further more than that if you even are an entry level candidate. If we can figure out an example an entry level analyst can earn around $50,000 while a senior portfolio manager draws about $500,000 plus other incentives. It’s truly a cherry on the cake making it appealing and profitable.
Cost involved to become a CFA
There are three levels in the CFA curriculum and can be only studied through the CFA institute practiced by your own. You have to study from your own. Once you have registered for the examination , the syllabus of that particular level is provided to you through net or hard copy or both. This also will include a mock exam.
CFA competitors can anticipate to use around $3,600 on course materials, organization, and exam enlistment expenses. A CFA applicant ought to hope to retake no less than one exam, which means paying that exam’s enrollment expense twice. There is no restriction to how many exams many a candidate can take.
If you are opting for preparation assistance programs from other institutes, that will further escalate your cost. If you happen to involve and take help from these institutes and spend around $ 1,000 per level, a candidate can easily pass out all the three levels at a total expense of $7,500.
You can complete this course in a period between two to five years. On an average it takes around four years to complete. There is no specific time in part of the institute to finish the coursework and take the exam.