The Rising Demand for CFA Professionals: Trends and Insights for 2024
admin 22 Apr, 2024 The CFA exam is a difficult one to crack. But once you clear this finance course, its benefits outweigh the struggles. The low pass rates and difficulties of pursuing CFA should not dampen your spirits. You must seek the help of an online training institute and prepare for the CFA exams so that you can crack all three levels on time. You must remember that since the three levels are great hurdles, even when you complete Level I, your effort is recognized, and you will be given credit. Even after completing Level I or Level II, there are good job prospects.
CFA Eligibility Criteria
- A bachelor's degree,
- Four years of relevant work experience.
Part-time work does not count, and you have to meet the four-year requirement before enrolling.
CFA Exam Pattern
The CFA exam pattern varies across the three levels:
- Level I, consisting of 240 multiple-choice questions focused on investment tools,
- Level II, featuring 120 multiple-choice questions centered on asset valuation,
- Level III has both item sets and multiple-choice questions about portfolio management.
CFA Exam Dates: 2024
Please review the dates for the CFA exam in 2024.
CFA Level I
- 19–25 February 2024
- 15–21 May 2024
- 20–26 August 2024
- 13–19 November 2024
CFA Level II
- 22–26 May 2024
- 27–31 August 2024
- 20–24 November 2024
CFA Level III
- 15–18 February 2024
- 16–19 August 2024
Jobs After CFA in India and Worldwide
The CFA designation commands significant respect in the finance sector in India as well as on the global front. You can secure employment in numerous significant finance domains, including
- Portfolio Management
- Corporate Finance
- Investment Banking
- Equity Research
- Consulting
- Asset Management
- Private Wealth Management
- Insurance
- Risk Management and the like
You can fill important job positions in the finance industry once you get the CFA certification. Some of the job roles are:
Portfolio Manager
After considering clients' risk appetite, you need to manage their funds and assets and assess their return on investment. You also need to pay attention to diversifying your asset allocation.
Wealth Manager
You need to examine your client’s financial situations, frame personalized investment policies, and provide continuous investment advice to optimize their wealth and assets.
Equity Research Analyst
This is another option. You have to conduct in-depth research on industry-specific equity stocks and assess their investment potential and future value.
Credit Analyst
This is another fantastic job opportunity. You have to assess the creditworthiness of individuals or organizations and make decisions regarding their extension of credit.
Investment Manager
You will be responsible for researching and shaping investment opportunity scopes, designing financial models, and predicting future investment trends. You will also need to prepare reports accurately for stakeholders.
Finance Manager
From preparing financial reports to finance models, you need to do data mining and cleansing, conduct research, and tackle everything that will enhance the health of the organization you work for.
Risk Manager
You need to have a commendable grip on risk measurement and management. Identify risk, frame risk strategies, monitor risk, and provide recommendations as part of your job role.
As you can understand, you have diverse career options once you obtain a CFA charter. There is much demand for CFAs in India. You can specialize in different areas of finance and make significant contributions to the industry.
Salary
- Level 1: INR 9.8 lakh,
- Level 2: INR 13.5 lakh,
- Level 3 (cleared): INR 17.5 lakhs and
- Level 3 cleared; charter pending; INR 20.7 lakhs
- Charterholders: INR 44.4 lakh.
After the Level 3 charter, the average CFA salary in India is INR 44.4 lakh.
CFA Aspirants Should Know About the Top Investment Trends
Since most CFA aspirants join the investment segment of the finance industry after cracking the exams, they should be aware of the prevalent trends. The investment industry is changing for the better with the digitalization of assets and sustainable finance becoming mainstream. If you have already checked the revised curriculum of CFA Course 2024, you will find that the CFA Institute has brought about the changes keeping in mind the evolving needs of the investment industry, adding that practical edge.
Alternative Investments: Gaining Limelight
New content has been added to the “Alternative Investment” segment of the of the CFA course 2024, and rightly so. Investors are interested in alternative investment options. So, with the addition of new content to the CFA curriculum, you get a better focus on how to tap the potential of alternative investment in wealth management. If you want to try your hands at the wealth management segment as an investment professional, you should be clear about the diversification quotient of an investor’s portfolio. The ratio of alternative investments is gradually increasing, making way for better jobs in wealth management.
Digital Assets are popular.
Digital assets are in demand, and despite the volatile nature of cryptocurrency, young investors want to bank on digital assets and tokenization. The cryptocurrency market is expanding at a faster rate, and when you join the job world, you need first-hand knowledge and expertise in digital assets to effortlessly cater to clients' investment needs. Apart from the CFA course materials, you should read articles and know about digital asset management if you want to get a good job in the investment industry after completing the CFA.
Newer Technology, New Investment Goals
AI, big data, and machine learning are changing the face of the investment industry; the faster you accept the change and update yourself on its workings, the more valuable you become as an investment professional after completing CFA. AI takes over the heavy load of regular data mining work. Human minds, with AI's active assistance, must engage in extensive investment analysis. So, when you join the job role as an investment Manager or Analyst, you will have to make deft use of AI to accelerate your tasks and smooth the operations.
Sustainability Factor
Investors want to make investments that have a positive impact on environmental sustainability. So, as a CFA, make sure you are well-aware and practice sustainable finance to meet their expectations.
Make Your CFA Preparation Rock-Solid with NorthStar Academy!
When you visit a reputable online training institute like NorthStar Academy, you don't have to cling to facts such as the difficulty of the CFA exams, which could potentially lower your confidence. You need to put in quite an effort, time, and money to be a charterholder. Let’s accept the facts, but don’t just dwell on them. Hand in hand with the amiable educators at NorthStar Academy, you have to find ways to study hard and make the most of the world-class course materials, interactive sessions, and more to pass the rigorous levels of the CFA exams.
Why NorthStar Academy?
- Expert faculty who are industry practitioners.
- Comprehensive study materials from official learning partners and exclusive materials designed by NorthStar Academy’s educators increase your knowledge acquisition.
- Practice test papers, mock exams, and revision tests help track your progress.
- Personalized mentoring ensures you are on the right track.
- Impressive pass rates.
- You get career guidance, resume-building assistance, and job placement services.
FAQs
- Is CFA demanded in India?
There is good demand for CFA in India. The financial markets in India are growing rapidly. Thus, there is an emerging need for CFAs.
- Is CFA a good career option?
Yes. When you become a CFA, you will find many positions in different industries to work for. You can have a global presence as a business leader, working in different job roles of your choice.
- In which country are CFAs in demand?
The UAE, Hong Kong, and other Southeast Asian countries highly value the CFA designation. The US is the country of origin of the program. Thus, it values it a lot. Australia is another country that offers great opportunities for CFA members.
- Do Big 4 firms hire CFAs?
The Big 4 firms place a high value on globally recognized certifications like CFA or US CPA. We strongly recommend obtaining this type of certification to increase your hiring prospects at Big 4 firms and enhance your income.
Conclusion
With the investment industry evolving and newer job roles emerging, you have reason enough to study CFA now. Leaving aside the difficulty of the exam, consider how you can get a good job and touch global shores with the CFA certification added to your resume. NorthStar Academy has some of the industry-leading mentors and instructors on board who let you go through rigorous study sessions and mock exams by planning things for you based on your potential.
You can take free demo classes to get a sense of the quality of academic assistance you will receive from NorthStar Academy. The mentors' guidance and tips for CFA exams enable you to absorb knowledge and hone your skill set for the best outcome. The live interactive classes prove beneficial for you.
If you need any clarification, please contact us via WhatsApp. We are here to help you conquer your exam fear and increase your chances of clearing the different levels of the CFA program at a faster rate.