CFA stands for Chartered Financial Analyst, this is one of the hardest charters to obtain, it takes a lot of work and dedication and it takes at least 3 years. While this may seem like too much effort to many people, it is a highly respected charter and will open many doors for you and your future career. There are similar charters that you can obtain if you think that a CFA might be too difficult for example, Masters of Business Administration has a lot of cross-over with the content you need to know to obtain your CFA. As there are similar qualifications you need to be sure that you’re choosing the right one, the CFA is the hardest but don’t worry if you’ve just started and are just realizing this as you can find cfa level 1 study material online which is a great help. It is however the hardest for a reason as it is the most utilized, we’ve found 6 common job opportunities that would see your CFA charter and be happy to take you on board.
A Research Analysts main role in their job is research, this is something that whilst studying for your CFA you have a lot of practice in. By the time you obtain your charter, you’ll have massively improved your research skills and will know how to be an effective researcher, this makes research analyst the most common job that people with a CFA go into. The research usually goes towards reports on securities, this can be for in-house or client use, but either way, there is a lot of overlap between this role and skills you’ve developed during the years you spent obtaining your CFA.
Corporate Finance Analyst
A Corporate Finance Analyst is the 2nd most common job that people who have obtained a CFA go into. It is estimated that approximately 13% of people who have a CFA currently work as corporate finance analysts. A corporate finance analyst is a very well-paid job and is perfect for anyone with a CFA as it involves supporting management in a business by providing them with accurate and up-to-date financial information. They are also involved with other things you’ve learned, like ensuring taxes are paid correctly.
Whilst accountants have their own professional qualifications that they strive to achieve, whether it is with CIMA, ACCA or ACA, many people who obtain a CFA end up working as an accountant alongside the people with the actual accounting qualifications. This is allowed as there is a lot of overlap between the CFA and the accounting qualifications, they are so similar that sometimes a CFA is seen as a non-traditional route to accounting. There are 2 types of accounting, financial accounting and management accounting. Whilst you will be qualified to do both if you’re considering a job in accounting make sure you are aware of the difference.
A risk analyst has a lot of responsibility attached to it, but if you’ve obtained your CFA then you’ll be qualified to deal with this. The main role of a risk analyst is to evaluate all finance-related documents in a business and to evaluate the current position of the external environment. After evaluation, they use this information to help their clients understand how risky a potential business decision is. Often companies hire permanent risk analysts who are always there to advise management, or sometimes people free-lance and have clients approach them for a one-off decision.
This is seen as a similar job to a Corporate Finance Analyst, so it would utilize your skills from your CFA but there are several differences. The main role of a credit analyst is to determine if something is creditworthy, this is from individuals to companies to securities, due to the nature of the job they usually work for investment banks.
This is another job that is quite similar but with a different main focus, their job is to do with buying and selling investments. This again would utilize your CFA as it involves studying trends in the economy, evaluating company performance, and compiling reports.