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.
FAQs
Typical Jobs for CFA® Charterholders*
What jobs do CFAs have? ›
The most common professions for those who hold the CFA designation are portfolio managers and research analysts, followed by a smaller percentage who work as chief executives and consultants.
What position is a CFA? ›
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.
What does a chartered financial analyst do? ›
What Do CFAs Do? A chartered financial analyst, or CFA, has received a CFA certification from the CFA Institute. In general, a financial analyst makes decisions on how to spend money to maximize profits, be it through stock market investments or mergers and acquisitions (M&A).
What is the position of a financial analyst? ›
What is Financial Analyst? Financial analysts are responsible for a variety of research tasks to inform investment strategy and make investment decisions for their company or clients. These roles are data-intensive and require strong mathematical and analytical skills.
Which CFA has highest salary? ›
C. Average CFA Salaries in India Based on Job Title
- Junior Analyst: ₹6 lakh to ₹10 lakh per annum.
- Investment Banker: ₹10 lakh to ₹30 lakh per annum.
- Portfolio Manager: ₹18 lakh to ₹40 lakh per annum.
- Chief Investment Officer: ₹40 lakh to ₹1 crore+ per annum.
India's top employers for CFA's
| Recruiters | Salary Package (lakh per annum) |
|---|
| EY | Rs. 6,00,000 - 35,00,000 |
| Bajaj Finance | Rs. 4,00,000 – 12,00,000 |
| PWC | Rs. 5,00,000 – 20,00,000 |
| KPMG | Rs. 4,00,000 – 20,00,000 |
11 more rowsCFA vs CPA Exam difficulty
Both are challenging and require gaining skills and knowledge in complex topics. However, the CPA Exam generally requires less studying - around 80 to 120 hours per section compared to 300 hours per section of the CFA Exam, and the CPA Exam also has a higher pass rate.
Is the CFA harder than the bar? ›
Considering their pass rates—approximately 50% for the CPA exams, around 13.5% for candidates completing all three levels of the CFA exams, and roughly 70% for the Florida bar—statistics would suggest that the CFA credential is in fact the hardest.
Is a CFA or MBA better? ›
Career aspirations: While there is certainly overlap in how business school graduates and charterholders apply their expertise, MBA programs are generally ideal for professionals who want to pursue management positions in any industry. A CFA designation suits professionals dedicated to working in the finance industry.
The CFA charter is one of the most respected designations in finance and is widely considered to be the gold standard in the field of investment analysis.
Is CFA a big deal? ›
According to the CFA Institute, this credential "is the professional standard of choice for more than 31,000 investment firms worldwide."1 It can be especially helpful if you don't have an undergraduate degree in finance, economics, or accounting, and your goal is a job or career in the finance industry.
What is the difference between chartered financial analyst and financial analyst? ›
Key Takeaways: A CFA (chartered financial analyst) specializes in financial analytics. A CFP (certified financial professional) specializes in financial planning. Both certifications require the candidate to pass one or more exams and pay fees.
What are the different types of financial analysts? ›
The three primary types of financial analysts are equity analysts, credit analysts, and quantitative analysts. Equity analysts analyze stocks, credit analysts evaluate creditworthiness, and quantitative analysts use math and statistics to develop investment strategies.
Who is above financial analyst? ›
Three or four Analysts are led by a Senior Analyst, who is in charge of a specific product. The Senior Analyst then reports to the FP&A Manager on their respective product. The FP&A Manager is at the top of the pyramid and reports directly to the CFO.
Do you need a CFA to be a financial analyst? ›
Do you need a CFA to be a financial analyst? No. Financial analysts do not need the CFA credential to work in the field, but employers may prefer individuals with certification. Candidates with a relevant degree alone can qualify for entry-level positions.
Which job is best after CFA? ›
Careers after CFA
- So what career path could you choose if you become a CFA? Here are the top picks:
- Portfolio Manager. A portfolio manager is a person who makes investment decisions on the behalf of other people or organisations. ...
- Research Analyst. ...
- Investment Banker. ...
- Financial Advisor. ...
- Risk Manager. ...
- Chief Executive.
Yes. CFAs typically earn a substantial amount of money. Per the CFA Institute, the median annual salary for a chief investment officer is $177,000 with a base salary of $126,000. Keep in mind that the average pay can differ greatly due to a variety of factors, such as location, experience, and finance speciality.
Do CFAs get paid more? ›
CFA charterholders often earn higher salaries compared to other finance professionals who do not hold the designation.
