In the financial world there are a number of designations you can hold that will open the door to great career options. Chartered Financial Analyst or CFA jobs are just one of these possibilities, but provide a great source of potential income as well as an exciting array of potential working environments. CFA jobs are on the very high end of the pay scale as well as the prestige in the financial industry, and thus charter holders are in very high demand around the world.
Most CFA jobs are as financial analysts, although it is possible to become a financial analyst without achieving the CFA designation. Those who do hold this designation are likely to make a lot more money as well as get the more senior level positions. CFA jobs are so prestigious because they require a great deal of effort to attain, an effort that not everyone is willing to put forward. In order to become a Chartered Financial Analyst, you must first hold a Bachelor’s Degree in any subject (although something in the financial industry would be advised). You must also have at least three years of related experience working in the financial industry. Finally, you must pass three exams in order to receive the title of CFA.
Because there are fewer people able to complete all these steps than there are people interested in or even working in the financial analysis market, CFA jobs are considered to be top level and offered to the people who have truly put in a great deal of time and effort to expand their knowledge of the financial arena and prove that they are the best of the best by passing all of the necessary exams.
Most CFA jobs are with what are known as institutional investors. This means a company or an individual that is not a bank but trades securities at large enough levels to be given better commissions and have fewer regulations by which they must abide. They are therefore able to take greater risks and often have very high profits – but also risk and can absorb great losses. CFA jobs at this type of company are usually as financial analysts. There are also other CFA jobs outside this majority, some of which are with broker-dealers and the rest in government positions or with universities.
CFA jobs are highly lucrative positions, which is not surprising considering the amount of knowledge and skill that is required to obtain such a position. Even entry level CFA jobs have a median salary well into the seven figures range, close to a half million dollars a year. Experienced Chartered Financial Analysts in the right position can make over the half million mark every year easily. CFA jobs are therefore very highly skilled and very highly paid, among the highest paid if financial jobs anywhere.
Anyone interested in CFA jobs should first ensure that they will even qualify to take the exams, and then take some time to study and prepare. Once you successfully obtain your Charter, you can expect a long and very lucrative career.