Do you need a CFA to be a portfolio manager?

Question

Zippia Team · Accepted Answer

No, you do not need a CFA to be a portfolio manager. However, having a Chartered Financial Analyst (CFA) certificate does help to provide a financial theoretical background that can help you better understand the financial markets.

Because of this, more and more companies are seeking out candidates who have a CFA, but it's not a standard requirement in the industry.

Many employers require portfolio managers to hold one or more financial analyst certifications. The most prominent certification in the field and the most in-demand by employers is the CFA certification.

This designation is open to any financial analyst with a bachelor's degree and four years of work experience in finance or accounting. To earn a CFA certificate, you must pass a series of 3 exams.

It takes about three years to complete the certification once you begin. Many employers also name the Certified Financial Planner (CFP) designation, awarded by the CFP Board, as optional.

Having a CFA is arguably more important before you become a portfolio manager as it provides a level of competency for hiring managers to assess young and inexperienced candidates. It improves a candidate's chances of getting hired and further advancing your career to a portfolio management position.