As per the CFA Institute, a record 21,883 candidates registered for CFA Exam held in June 2018. Overall, India is the third largest in terms of the number of candidates registered after China and the United States. This clearly showcases the increased demand for skill sets like Investment Analysis, Portfolio Strategy and Asset Allocation. Let's take a closer look at the CFA (Chartered Financial Analyst) Exam.
Eligibility for CFA Exam
A Bachelor's (or equivalent) degree or final year students of bachelor's program are eligibile for CFA exam. However to appear in Level II, you are required to complete the Bachelor's degree.
Work Experience requirement:
4 years of work experience (related/unrelated)
> A combination of work experience and education that totals atleast 4 years (part time does not qualifies) and the 4 year should be before the enrollment.
Candidate must have an International Travel Passport and well versed with English language.
Exam Pattern and Other Related Details
The course is divided into three levels:
- Level I: Basic knowledge level
- Level II: Concepts application level
- Level III: Methodological and conceptual level
This online examination is conducted in two parts of 3 hours session for each level. One can give the next level examination only after passing the previous level.
The examination fee for each level is between Rs. 78,000 - Rs. 1 Lakh. Level I Exam is conducted in June & December while Level II and Level III exams are conducted in June only. The exam fees includes the course material as well as practice tests.
One can register for the CFA examination here: CFA Exam Registeration.
Students can explore the following career options after clearing the CFA Exams:
- Asset Manager
- Investment banking - M&A
- Portfolio manager
- Equities manager
- Risk manager
- Corporate banking manager
- Financial advisor
- Relationship manager
- Financial strategists
A fresher can expect anything from 5 Lakh to 12 Lakhs per annum depending on the level of CFA cleared. Experienced candidates can easily draw a salary of 15-20 lakhs per annum.
Value of the Course Abroad
CFA certification is accpeted worldwide. The average salary of a CFA holder in US is 100,000 USD (Rs. 70Lakh) annually. In UK, average annual salary is £28,350 (Rs. 26Lakh). It also attracts good salary in countries like Singapore, Australia, etc.
Who Should do CFA course?
CFA program is specifically for those who have a keen interest in finance sector. The candidate should be ready to understand the nuances associated with deals, investment planning, portfolio/fund management, studying the financial strategy of the company, etc.
CFA course focusses more on improving one’s skill sets and makes one aware about the real financial world and is, of course, a glory to one’s resume.
The career scope for CFA is validated across investment companies, mutual funds, banks, insurance companies, financial consultancies to name a few