Does the world of business, investment, and finance interest you? If yes, you must be aware that CFA is the most prestigious tag you can achieve in this domain. Millions of aspirants around the world are sweating it out to clear the coveted exam. However, only a select few get a chance to see their names in the Hall of CFA fame! You could either slog it out yourself or seek the guidance of experienced CFA level 1 prep providers to make sure you do not leave anything to chance.
The major reason so many people want to complete the CFA charter is the unlimited growth possibilities it offers to the individual. Here are the jobs you could hope to grab after you’ve got the esteemed title.
Career opportunities after CFA
- Portfolio Manager: If one had to describe the job profile of a portfolio manager in simple language, it is this – to make money for the client. This is done after thoroughly analyzing the market trends and the general economic condition prevalent at the time. Portfolio managers need to deeply understand economics and the capital market in order to generate high returns. Studying economics comprehensively is a must to be a successful portfolio manager and the CFA level 1 economics curriculum is designed to do just that. The earning potential of portfolio managers is sky-high depending upon their performance and expertise. Margaret Franklin, the CEO of the CFA Institute, is one of the most popular portfolio managers in the world.
- Chief Investment Officer: The work of a CIO is critical. He must build the investment plan and finalize the policy to decide how the client’s assets would be allocated. A team of managers work under the guidance of the CIO and they are under his direct supervision. Successful CIOs generate incredible returns for their clients. Howard Marks, the co-founder of Oaktree Capital Management, for instance, has generated long-term returns of up to 19% on the funds he managed. The decision of asset allocation is the most important aspect of a financial firm’s business. A capable person at the helm of affairs can greatly enhance the reputation of the firm whereas an incompetent CIO can significantly tarnish its image. CIOs ensure that the investment policy and asset allocation guidelines are followed to the hilt.
- Equity Research Analyst: Equity research involves studying the overall market trend. The analyst must study the charts of listed companies with the help of technical indicators and conduct a fundamental analysis of the business after going through the data provided in the company’s annual financial statements. They analyze various financial ratios such as the price-to-earnings ratio (P/E), debt-to-equity ratio (D/E), return-on-equity (ROE), and earnings per share (EPS). CFA aspirants must be well versed with these terms. The assets would generate returns only based on sound research and hence, the job of an equity research analyst is considered so prestigious. They predict buying and selling opportunities in the market which allows firms to risk their client’s money. The analysts at Hindenburg Research successfully predicted the downfall in Adani stocks after their research time found inflated figures in the company’s financial statements.
- Financial Advisor: A financial advisor or consultant’s role is to create an optimum financial plan for their clients. They go through prospective clients’ income and revenue statements and advise them on how to invest their wealth in the market. They also take investment decisions on their client’s behalf. Financial advisors also help their clients save tax on their income by suggesting appropriate channels to invest their wealth that are legally sound. High net-worth individuals and government agencies often hire the services of a reputed financial advisor to streamline their financial portfolios and generate active returns on idle assets. Kevin Freeman, after completing his CFA charter in the 1990s, went on to manage assets worth billions of dollars. He also offers consulting services to the US government and its agencies.
- State Treasurer: A state treasurer oversees the general financial management of the state. They are professionals who have a masterful knowledge of economics and finance. You could hope to land this esteemed job when you clear the CFA exam. The CFA level 1 economics covers all the aspects of economics and prepares you for future job roles like that of a state treasurer. The job includes the preparation of annual financial budgets to be presented before the House as well as the allocation of funds in suitable investment channels. The role of a state treasurer also includes preparing various financial reports and making near and long-term projections. Only the most experienced of people are hired for the position as the funds to be managed are huge. They ensure that the state funds are utilized properly and are sufficient to cover the operational needs of the state.
Conclusion
There is a reason CFA is such a distinguished financial title. Many who cleared the exam have reached the zenith of their financial career. If you have what it takes to manage funds worth billions of dollars one day, then CFA is the right path for you. However, the task is challenging as the competition is intense and you would do well to join online classes of CFA level 1 prep providers. These prep providers provide you with all the necessary study materials and practice tests to handle the exam with ease.
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