The most common positions held by CFA® Level I holders
In 2016, eFinancialCareers analyzed the CVs in its database to identify the positions held by candidates who had passed the various levels of the CFA® exam. They were able to identify ten areas of activity; here are the five most important:
• Asset management: 15%
• Accounting and finance: 13%
• Equities: 8%
• Risk management: 6%
• Interns at finance firms: 6%
Based on these figures, if you have successfully completed Level I, the positions most likely to be offered to you are:
• Deputy Accounting Manager
• Investment product analyst
• Intern
• Investment administrator
• Junior equity research analyst
• An accountant
Can one be sure of obtaining a new position after the CFA® level I?
One thing to know is that statistics don't tell us whether the CFA® Level I exam had any impact on hiring. If you search forums like analystforum.com, Quora, and Reddit to find out if passing Level I helped someone get a job, you'll get a wide range of different answers.
Some will tell you that Level I qualifications won't be valued any more than your studies or experience. Others, on the contrary, will tell you that it will significantly increase your chances of finding a good finance job with a competitive salary. Those who claim it played a key role in their careers explain it in two ways:
- Having Level I was a decisive factor when it came to choosing between them and other candidates with equal skills.
- They already had experience in finance before obtaining level I, but this allowed them to gain perspective and be more relevant in their decision-making, which translated into a revaluation or a change of position within their company.
Why are there so many different opinions? The answer to this question depends on how respondents approached their job search, the difference in expectations of each individual, and how they capitalized on this achievement.
How will CFA® Level I help you in your job search?
Those who found employment in finance after successfully completing Level I applied the same determination to their job search as they did to preparing for and passing the CFA® exam. They used the same techniques: good organization, rigor, and effective tools.
Using your network is also essential: use your personal contacts, join the CFA society in your region or country, attend trade shows or conferences, and spend hours on social media.
Starting this year, you can request your digital badge from the CFA® Institute to display proof of your success in the Level I exam on social media.
It is also important to work on your image and presentation; the CFA Level I qualification provides you with very solid knowledge in financial markets, but you must succeed in showcasing it by knowing how to sell yourself!
One last piece of advice: don't stop there.
Blogs and forums agree on one point: you won't be able to reach the same level of competence and the same positions if you stop at level I. The eFinancialCareers study shows us that the chances of progressing in asset management companies and banks increase with each level passed, with better prospects for CFA® holders.
Being a CFA® certified professional doesn't guarantee you'll find a job, however, your chances of career advancement increase dramatically. Finding the ideal position that's right for you will also be much easier!
Source: Kaplan Schweser