CFA Qualification for Finance Professionals:

Drawbacks and Benefits of CFA Course

It is common to come across a financial professional enthusiastic about enrolling in the chartered financial analyst (CFA) course. There are instances when they are unaware of what they are going into. They might not know exactly how the charter would benefit or harm them or how long it will take.

No doubt, obtaining the CFA certification is a difficult procedure, so before deciding to pursue it, think about what it would take to get there, how it will advance your career, the drawbacks, and whether the advantages outweigh the disadvantages. 

The goal of every certification program is to advance a person’s profession. Indeed, the CFA certification course is nothing less. The benefits of taking the CFA course are higher. Furthermore, there are additional advantages to this certification program.

Let’s examine the advantages of taking a CFA course for financial professionals. 

Great Career Opportunities

The CFA certification course is worth pursuing due to its better work chances and career perks. Candidates with a track record of earning CFA licenses are highly sought after by numerous elite consulting firms. If you are concerned about spending a lot of money on classes to advance your professional career, take the CFA certification course. More job opportunities than you could have dreamed of will be available to you. The shareholders primarily invest in companies working on investment analysis, asset management, mutual funds, and other buying practices. 

Manageable with Work

You will be happy to hear that you can prepare for the CFA registration without having to quit your job or remain unemployed. How you will manage the coursework and the employment, however, is entirely up to you and your plans. Furthermore, to obtain the charter, the necessary job experience is required. You can thus work and prepare at the same time.

Global Exposure

In more than thirty nations and territories, the CFA qualification is recognized and valued more highly. An MBA is not valued in some countries, but the CFA qualification is. As such, you can apply for positions abroad as well. Moreover, the CFA course will provide you with a network.

Start your Portfolio Management Company

The CFA program produces investment specialists prepared for the future. You get the technical training and resources necessary to help you finally start your own business. After working in the sector for a few years, a lot of seasoned CFA charter holders go on to become consultants or provide independent portfolio management services. The comprehensive training that teaches you how to operate freely and effectively is one of the finest advantages of becoming a CFA. When the time comes for you to be your boss, it works to your advantage. 

The Disadvantages of Earning a CFA Certification

The CFA charter does not promise wealth and fame. Be sure to weigh the many disadvantages of earning one before committing.

The CFA Course Duration

A significant time commitment is needed to become a CFA, including studying for and sitting for the tests as well as putting in the minimum 4,000 hours of experience over 36 months.8 You’ll give up engaging in your favorite pastimes and spending time with loved ones. Furthermore, there is no assurance that you will obtain the charter despite devoting all that time.

The Cost of Registration and Enrollment

Even though it might not be a big deal, this is something to think about. A one-time program enrollment fee and an exam registration fee are required of level I candidates. Additionally, there will be a registration fee for Level II and III candidates. The price of the study guides and books you’ll need to purchase is another. Every time you take the examinations, you should budget a few thousand dollars overall. 

No Fix Career After CFA Certification

The CFA is not a panacea for a failing profession. If your job is stagnating and you’re enrolling in the program to kickstart it, you might want to consider alternative reasons why it’s not progressing first.

The Final Word

To determine whether a CFA course is good for you or if you should proceed with the program, a cost-benefit analysis in a modified version might be the most effective method. Check out the advantages and disadvantages of becoming a CFA on paper. As your profession evolves, your choice might too. If you don’t get promoted after five years, it might be more worthwhile to get the title.