Is it worth it to earn the CFA® designation?

Most finance professionals would agree that, due to the breadth, scope and difficulty of the exams, the CFA designation^® remains the gold standard. What was once a nice-to-have is now a necessity. In fact, the job market is awash with job descriptions that make the CFA title a must-have.^® an asset, even a requirement.

Admittedly, there are now more CFA titleholders on the market than ever before.^® than a few years ago, but demand has also risen dramatically. Graduates are no longer only sought after for investment management positions. The skills acquired in preparation for the three exams enable them to take on a variety of roles in areas such as strategy, operations and technology.

"As far as I'm concerned, completing the CFA program will have helped propel my career and sharpen my analytical skills. Not to mention that the process helped forge my character. I failed Levels 1 and 2 several times after what I thought were easy university studies, which humbled me and taught me to study harder. What's more, the fact that the title is so hard to obtain shows that it's worth the effort," points out Joseph Lutfi, CFA, Senior Director and Portfolio Manager at RBC Royal Trust and lecturer at McGill University.

Here are some useful tips for candidates:

1. Start studying early, review the material often and do as many practical exercises (questions or exams) as possible.
2. If you have discipline problems like I do, set up a schedule, team up with others or sign up for a preparation program.
3. Assume that preparing for CFA exams requires a great deal of time, energy and dedication.
4. Finally, be honest with yourself. Simply reading the material does not constitute proper preparation.

Good luck!

Text provided by Mc Gill University