My CFA Charter is On My Wall: Now What? 36% of Respondents Say “Change Firms”!

As the dust settles after the CFA exam results and newly minted CFA charterholders begin to plan their careers, it's fascinating to examine their mindset regarding promotions in the coming year. While obtaining the CFA charter is often seen as a significant milestone that should open doors to advancement opportunities, these survey results suggest a mix of aspirations, uncertainties, and strategic moves among recent charter recipients. Understanding this range of sentiments can help managers, recruiters, and the new charterholders themselves navigate the evolving landscape of career development in the investment industry.

Poll Results Recap:

• Already promoted: 6%
• Make manager aware: 17%
• Change firms: 36%
• What promotion??: 41%

Interpreting the Data: A striking revelation is that only 6% of new charterholders have already secured a promotion. This minority might have been set up for advancement before completing the program, or they operated in firms that strategically support employees in their CFA journey. While this percentage is small, it highlights that some firms actively recognize and reward the CFA achievement. For those fortunate few, the charter seems to have aligned with existing corporate career tracks.

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On the other hand, 17% of respondents intend to “make their manager aware” of their interest in upward movement. This group suggests a proactive yet cautious approach: they are planning to negotiate internally, remind their superiors of their enhanced qualifications, and position themselves for upward mobility within their current firm. They may be confident that internal recognition will follow now that the CFA credential is in hand, and they aim to lay the groundwork for promotions rather than searching elsewhere.

The most surprising statistic might be the 36% who indicated an intention to “change firms.” This is a strong number—more than a third of new charterholders are considering a move. Typically, earning the CFA charter is seen as a credential that increases one’s attractiveness in the job market. The desire to switch employers suggests that many may feel undervalued in their current roles or see better opportunities elsewhere. They could be lured by the prospect of fresh responsibilities, higher compensation, a more dynamic corporate culture, or an environment that better leverages their newly certified skill set. Companies currently employing these charterholders might take note: failing to provide career progression paths can lead to attrition of freshly minted talent.

The largest response category—41%—responded with “What promotion??” This could be interpreted in several ways. Some individuals may be feeling disillusioned, uncertain, or simply not focused on promotions yet. The CFA journey is rigorous; passing all three levels demands years of dedication. Upon completion, some may need time to reflect on their career trajectory and figure out their next step. They might not yet see a clear promotion path, or they could be in roles or firms where promotions are not well-defined or commonly discussed. Another angle is that some new charterholders may be pivoting their careers entirely—exploring roles that make better use of their new skills, thus making the concept of a traditional "promotion" less relevant.

Contextual Considerations: These results must be viewed in the broader context of the investment industry’s shifting landscape. As firms adapt to technological innovation, ESG considerations, and the evolving regulatory environment, traditional promotion models may be less straightforward. Younger professionals, including new CFA charterholders, often consider factors like work-life balance, remote opportunities, and firm culture alongside pure job title advancements. The notion of a linear, hierarchical career path may be giving way to a more flexible, skills-based progression.

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Insights and Implications:

• Communicate Opportunities Internally: Managers should proactively discuss advancement options and career pathways with staff to retain talent.
• Recognize the Credential’s Value: Employers that acknowledge and reward the CFA charter will likely enjoy better employee engagement and lower turnover.
• Be Prepared for Attrition: With over a third of new charterholders eyeing a move, firms must address underlying reasons or risk losing investment in newly skilled employees.

Rethink Career Progression Models: The high “What promotion??” response indicates a need for clearer, more innovative promotion structures that resonate with the modern financial professional.

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