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These are the jobs you can do with each level of CFA qualification

If you have done or are doing the CFA qualifications leading to the CFA Charter, you may be
wondering what you’ll be equipped to do once you’ve passed each of the three exams.

Fortunately, therefore, the CFA Institute has clarified this. Earlier this month, they sent us the following statement:

Each level of the CFA exam is designed to provide candidates the opportunity to demonstrate the degree to which they have mastered the concepts necessary to perform competently at a certain level in the investment profession. Passing Level I indicates the candidate has attained the knowledge, skills and abilities to perform competently in positions such as Assistant Analyst; passing Level II indicates the candidate has attained the knowledge, skills and abilities to perform competently in positions such as Asset Valuation Assistant; passing Level III indicates the candidate has attained the knowledge, skills and abilities to perform competently in positions such as Assistant Portfolio Manager.

Clear now?

Comments (26)

Comments
  1. Really?

  2. Um, what’s the difference between “assistant analyst” and “asset valuation assistant”??

  3. Clear yes but it is a joke! CFA institute does really over-emphasize the weight of a simple degree…

  4. What load of complete nonsense. This web site is for bored out of work recruitment morons.

    Retiredyoungandrich Reply
     
  5. And yet none of Warren Buffett, George Soros, Bill Gross, Peter Lynch or Paul Tudor Jones are CFA Charterholders. Can the CFA Institute explain how they acquired the concepts “necessary to perform competently”?

    The CFA is a self-important and at times irresponsibly ideological qualification, made difficult by the mixture of a large volume of information with excessively pedantic questioning. How much tuition in investment insight can be gained from a process that makes candidates pick one multiple choice answer?

  6. I am an MSc in Finance Graduate, 9 months unemployed, sat for Level 1 CFA exams. Am i going to find a job if i pass the exams? HAHA of course not, then i have to sit for the Level 2 and then Level 3…… It is an industry to make money from desparate young graduates.

  7. Bravo Lorenzo, but it seems anyone worth his NaCl needs this qualifcation to gain an entry level gimp position at a decent asset manager

  8. CFA is for people with an employee mindset. Great businessmen don’t collect degrees and other qualifications, they jump into deep water and use their creativity to get ahead in life.

  9. complete BS

    MBA PhD CFA TWA IBM UPS DHL Reply
     
  10. “Fortunately, therefore, the CFA Institute has clarified this”

    Ohhhhh Iam so grateful …….Thank God the CFA exists

  11. @ Lorenzo, Bill Gross is a CFA charterholder.

  12. Engineering graduate, kind of MSc Financial Maths drop out, been working for a decent firm a year now, no CFA, no plans of CFA, and this article makes me wonder how much truth is in the words…

    I agree @Lorenzo, CFA can’t give you edge, brain, competance etc, but all these would give you CFA, you decide which is important.

    All the best to everyone.

  13. what’s the difference between “assistant analyst” and “asset valuation assistant”??

    $50.00 It seems that an analyst is not able to value – so how is this person going to analyse?

    Does the Charter mean that they received a (US) Congressional Charter?

    Out of curiosity, are certain US PhD’s awarded as a result of passing exams only?

  14. These qualifications aren’t worth the paper there written on anymore.

    I agree with @Lorenzo, I’m thinking there are plenty of competent people out there without this so called qualification who can quite easily go in and do the job 10 fold better than some of these incompetent plonkers who seem to think as soon as I get a CFA qualification I’m made without putting the hard yards in.

    The system sucks methinks.

  15. So now it is official: the CFA is a qualification for assistants.

    There is one remaining question: do you have to wear a skirt and high heels?

  16. Why are people so negative about everything? If the CFA is so easy, sit it. If the CFA is BS and you are too entrepreneurial or business-minded to collect certificates, why are you on efinancial? Why are you evening considering working for someone else?

    Possibly the most arrogant, narrow minded and terrible website on the internet; promoting all that is terrible about the financial sector and never promoting anything that is positive about the industry. An to pre-empty any replies, I look on this site very rarely to have a little chuckle before I hit my 7 figure salary job tomorrow…well, none of us don’t kick ar5e do we!

  17. is there any Scope for new CEMAP qualified in today’s market from the job point of view.

  18. Bill Gross holds the CFA. Bill has also an MBA from ASM, Uni California, and apart from his many honours, Bill knows Economics and with an impeccable insight in international politics and macro finance

    It is the anecdote amongst Economists: “The CFA is the ordinary accountant’s best cross-over suit into the mid-range investment suite”

    I wish not to offend accountants; they are enormously essential, inasmuch as their profession is a machiavellian one and only few ever excel in it. Not every accountant -with or without CFA designation- is suited in investing

    In the daily commercial reality, it makes little difference if one makes the money either with or without the CFA logo. As long as one makes the money

  19. This is brilliant, so everyone has taken their swords out against the CFA, how many of you have cleared all your exams? I think you all should hold your guns till you are capable enough to comment and those who are capable enough don’t waste your time writing stuff on such petty things. We have a long way to go compare ourselves to any of the traders mentioned above, so why don’t we concentrate on our jobs and accept that CFA is just some additional insight for freshers, if we all know all that’s required, why bother to study for it. In the field of uncertainty, not everything can be taught. I have cleared all the levels but that doesn’t make me an expert investment professional, so all you kids before you get too cocky, accept that life is not fair and get used to it.

  20. Firstly apologies for my factual error – Bill Gross did indeed gain the CFA. It is tricky in research to prove a negative. I ask to substitute Bill with Jack Bogle, David Dreman, Philip Fisher, Benjamin Graham, Carl Icahn and Jesse Livermore, and hope the point stands.

    Secondly, to some of the criticism of criticising the CFA. Bharat’s assertion that unless you’ve passed all levels you should not comment is illogical and false. I have never been a politician but still concern myself with politics. It is also unnecessarily disrespectful to refer to fellow posters as “kids”, and doesn’t make you look very pleasant.

    Questionable too is that it is “insight” for freshers. It is rather a voluminous “gospel” of technical information, which later turns out in an “unfair” world to have been overly detailed and of little help for making money. It claims of itself to be “required” for investors, and masquerades as “fact” rather than just the prevailing received wisdom.

    Because it is difficult no-one seems to ever think about it in context. This helps to perpetuate the intellectual fraud at the heart of the investment industry – that persistent outperformance is uncertain and

  21. …rare.

    Was the final word that dropped off the post.

  22. …rare!

  23. Body of knowledge of CFA covers just some basic theories and practices in the industry, which is essential for investment professionals. You can choose not to take the exam and the designation, but you cannot ignore or be unaware of the Body of knowledge, to claim yourself as an intelligent investor. Before any comment, better learn a bit about the Body of Knowledge first. CFA is a title worth efforts to earn, be you already a star or just a beginner. It teaches you relevant investment knowledge which is hard to find in MBA programs, and itself at least an evidence of academic outstanding.

  24. I want a CFA refund. I have passed all 3 exams and I still cannot get a job coupled with two undergrad degrees and other professional qualifications. CFA is a a cheap option but my money would have been better spent at a reputable institution and gaining a real post grad qualification. It seems like the CFA now sponsor efinancialcareers. Soon only CFA Chartertholders will be able to post to this forum.

  25. @Bharat

    I am well ahead in academic and professional qualifications that actually teach you something to need a CFA. But as I had some spare time, I did the multiple choice testsb to kill some time while I was waiting for some information. Except for the specifics in US law and regulation, the answers I gave without study and going in cold, were 98% percent correct. There were some where my interpretation of the wording was ijncorrect. Otherwise, the multiple choice made it easy.
    You will not find this level of ease in the ACA or ACT/MCT, and especially the CQF exams.

  26. It is interesting to see the alternative opinions to the usual hero worship of the CFA designation. I’m not sure of any degree in the world that guarantees a job or success at anything. You still have to put in the work and smarts required to excel. My sense is that the CFA is a recognition that a person has some basic knowledge. I think it would be silly to think that the designation is the only route to success in the investment industry. Inspite of that, i think it is an extremely useful process to go through. The amount of study required is surreal though! I’ve always thought it was ridiculous but still I have sat for and passed Level 1 and will do same for the other levels as well. I do not expect that it can significantly improve my income, but then again that’s not I’m doing it. I’m finding knowledge gained immensely useful

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