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This question is about finance analyst certifications.
Is a CFA certification worth it?
Yes, a chartered financial analyst (CFA) certification is worth it. Becoming a CFA is extremely time-consuming and difficult, but it is worthwhile for certain career paths and often leads to higher salaries and more growth opportunities.
There are many different paths that a CFA candidate can choose to pursue. The most common is portfolio management. Over 45% of CFA candidates plan on pursuing portfolio management.
Many are already portfolio managers, but some want to switch from risk management or buy-side research. The average salary for a portfolio manager is $107,000 annually.
Holding a CFA is beneficial for research analysts and a requirement for many higher-paid research analyst positions. The average salary is around $84,000 annually. Some may choose to pursue a job in portfolio management.
Consultants often hold CFAs. Consultants can work in various settings and have a ton of growth in their positions, as they can begin as junior consultants and work up to partners. The average salary for a consultant is $72,000 annually. This varies greatly depending on experience and certification, such as a CFA.
Holding a CFA, regardless of career, can be extremely lucrative. On average, someone who holds a CFA has a 15-20% higher salary than someone in the exact position without a CFA.
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