So You Received Your CFA Charter, Now What? Advice from Your Predecessors

After three rigorous exams, maybe 1000+ hours of study, missed family events and late nights and early mornings, you’ve made it. Your huge charter is hanging on the wall. Your family and friends have reacquainted themselves with the look of your face. The people in your office still taking exams regard you as kings and queens. But what else has changed?

We wondered what today’s charterholders focus on in their careers. So we took a poll to understand how CFA charterholders apply their exam knowledge in their daily roles. The results reveal valuable insights into the practical benefits of the CFA credential and offer guidance on how professionals can maximize these advantages.

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Here are the six key points derived from the poll and four actionable steps to enhance the use of CFA knowledge.

What New CFA Charterholders Focus On:

1. Credibility in the Workplace (33%):

A significant portion of respondents (33%) value the credibility that the CFA credential brings in their professional environments. The CFA designation is a mark of excellence and is recognized globally, which helps in establishing trust and authority among colleagues and clients.

2. Analysis and Allocation (38%):

The most prominent application of CFA knowledge is in analysis and allocation, with 38% of respondents highlighting this. The CFA curriculum’s emphasis on financial analysis, portfolio management, and asset allocation equips professionals with the skills to make informed investment decisions and manage assets effectively.

3. Locating Essential Information (10%):

Although a smaller percentage (10%) of respondents highlighted this, the ability to efficiently locate and interpret essential information is a crucial skill. The CFA program’s focus on research and data analysis enables professionals to sift through vast amounts of information to find what is most pertinent.

4. Learning How to Learn (19%):

Nearly one-fifth of respondents (19%) appreciate the meta-skill of learning how to learn. The CFA exam process itself, with its extensive study requirements and complex material, teaches candidates effective study techniques and disciplined learning habits that are transferable to other areas of professional development.

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How to Maximize Your Outcomes with CFA Charter in Hand:

1. Leverage Your Credibility:

Use the credibility that comes with your CFA designation to take on leadership roles, mentor junior colleagues, and influence decision-making processes within your organization. This can enhance your career trajectory and impact.

2. Enhance Analytical Skills:

Continuously refine your analytical skills by staying engaged with CFA Institute publications and other financial research resources. Apply these skills to real-world scenarios to keep your knowledge fresh and relevant.

3. Develop Information Literacy:

Strengthen your ability to locate and interpret essential information by practicing with various financial databases and analytical tools. This will improve your efficiency and accuracy in research and data analysis.

4. Commit to Lifelong Learning:

Embrace the learning habits developed during the CFA exam preparation by setting aside time for ongoing education. Attend workshops, enroll in courses, and participate in webinars to keep your knowledge and skills up-to-date. As we see with the new Practical Skills Modules, constant upskilling is necessary to even keep competitive in today’s investment management workforce.

5. Professional Development and Growth:

Beyond the poll options, the CFA credential often catalyzes continuous professional growth. It encourages lifelong learning and staying updated with the latest trends and developments in the finance industry. Attend conferences and keep up with trends in your local society’s educational events. CFAI publishes the latest research into markets, asset management, and economic trends in both the Financial Analysts’ Journal and the blog the Enterprising Investor.

6. Global Networking:

The CFA designation opens doors to a global network of finance professionals. This network can be invaluable for career advancement, knowledge sharing, and gaining diverse perspectives on financial issues. In our work we talk with many candidates who pursue the CFA charter primarily because of the global mobility it affords. Networking at conferences, through volunteering with CFAI, and through the Membership Directory opens you and your career to worldwide opportunities.

The insights from this poll underline the diverse ways in which CFA exam knowledge can be applied in daily professional life. By focusing on these key areas and implementing the suggested action steps, CFA charterholders can continue to derive significant value from their hard-earned credentials.

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