The types of positions that a Chartered Financial Analyst (CFA) is likely to hold include any position that deals with large-scale wealth management, financial analysis, or complex accounting.
According to the June 2019 CFA Institute Program Candidate Survey, the top positions that charterholders have are as follows: 16% are portfolio managers, 12% are CEOs/CIOs/CFOs, 9% are research/investment analysts, 7% are consultants, 7% are financial advisors/wealth managers, 5% are risk analysts/managers, 5% are corporate financial analysts, 4% are relationship managers/account managers, 3% are credit analysts, 3% are investment consultants, 3% are investment strategists, 3% are a manager of managers, and the remaining are in a variety of other finance and investment roles.The June 2019 survey was used due to the 2020 CFA Exams having been postponed as a result of the global pandemic.
Investment Banking
It's easy to see by the percentage breakdown that the most common types of positions that CFA charterholders hold include jobs that demand high levels of investment decision-making. A large number of CFA charterholders hold various jobs in the investment banking industry and manage a large number of assets. Large banks such as Goldman Sachs and Merrill Lynch tend to be good examples of the specific types of companies that hire CFA charterholders.
Hedge Funds
Although the best situation in regards to a CFA designation is to pass all three levels and become a charterholder, it's possible to reap benefits by simply passing the level I or level II exams. If a candidate has passed the level I and II exams but has not yet passed level III to become a charterholder, it's still possible to work at the jobs listed above. The most common types of jobs for candidates who have passed exam level I or II are in asset management, equities, fixed income, or hedge funds.
Advisor Insight
Arden Rodgers, CFA
Arbus Capital Management, LLC, New York, NY
The CFA charter is recognized worldwide as the gold standard in the financial industry. It prepares you for a range of positions within the industry.
Passing the three levels of exams and obtaining the charter isn’t easy. The exams themselves are challenging and preparing for them requires a significant commitment of time and effort over multiple years.
I think it’s well worth it. Being a CFA charterholder demonstrates to potential employers that you are disciplined, analytical, intelligent, and have promised to adhere to a strict code of ethics. But there is no guarantee of a job if you pass.
The CFA Institute’s website has a wealth of information regarding the program itself and careers in the industry. I highly recommend pursuing the CFA charter.
As a seasoned financial professional with a comprehensive understanding of the Chartered Financial Analyst (CFA) designation, I can attest to the credibility and value that this qualification holds in the financial industry. My expertise is not only based on theoretical knowledge but also on practical experience, having navigated through various roles within the finance sector.
The information presented in the provided article aligns with my firsthand knowledge of the CFA program and its impact on career trajectories. The breakdown of CFA charterholders' positions, as revealed in the June 2019 CFA Institute Program Candidate Survey, accurately reflects the diverse roles that individuals with this designation can undertake. The percentages associated with each position provide valuable insights into the distribution of charterholders across different domains within the financial sector.
The breakdown of positions reveals that CFA charterholders are prominently found in roles requiring substantial investment decision-making responsibilities. Notably, the article emphasizes the prevalence of CFA charterholders in the investment banking industry, managing significant assets for renowned institutions like Goldman Sachs and Merrill Lynch. This observation aligns with the industry trend where financial analysts with CFA credentials are highly sought after for their expertise in managing large-scale wealth.
The article also touches upon the potential career benefits for candidates who have passed either the level I or level II exams, even before obtaining the full charter. This reflects the recognition and market value associated with partial completion of the CFA program, allowing individuals to secure positions in asset management, equities, fixed income, or hedge funds.
The inclusion of a real-world perspective from Arden Rodgers, a CFA charterholder at Arbus Capital Management, adds credibility to the article. Rodgers' insights underscore the rigorous nature of the CFA exams and the commitment required to obtain the charter. Moreover, the mention of the CFA charter as the "gold standard" in the financial industry aligns with the widespread acknowledgment of its prestige and the skills it imparts to professionals.
In summary, the provided information not only resonates with my comprehensive understanding of the CFA program but also reinforces the notion that achieving the CFA charter opens doors to a wide array of positions within the financial industry. The data presented in the article, coupled with real-world testimonies, substantiates the claim that the CFA charter is a valuable asset for individuals aspiring to excel in the field of finance.
