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This question is about chartered finance analyst.
What is the career path for a CFA?
The career path for a chartered financial analyst (CFA) includes jobs as a research analyst, portfolio manager, and consultant. Becoming a CFA is extremely time-consuming and difficult.
It can take four years of education, six months of exam preparation for each exam, and over 300 hours of studying, but it is extremely worthwhile for certain career paths.
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 also extremely beneficial for research analysts. Often, holding a CFA is required for many higher-paid research analyst positions. The average salary is around $84,000 annually. Some research analysts may eventually 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 holding 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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