This is probably one of the most important questions to be addressed. Generally, a CFA should be considered as a credential that will add additional value to your knowledge and skill set. Attempting CFA levels and clearing them should not be taken as the ultimate and only means to find a cushy job in finance. CFA charter holders are indeed preferred in finance roles due to their level of knowledge, but it is not the only factor an employer looks into before hiring an employee. Thus the CFA program should only be a tool in your box, not the entire toolbox.

CFA is for those who:

• Want to broaden their knowledge;

Across the 3 levels of CFA, you will dive deep into a lot of subjects that will help you broaden your base and understand key concepts. You will learn new and exciting things across subjects that will seem difficult at first but will make you smarter and more knowledgeable.

• Would like to advance in their careers:

A CFA charter holder is strongly preferred for core finance jobs, especially in senior roles.

• Have patience and persistence;

The curriculum is heavily based on practical knowledge supported by deep theory. This is why it is so difficult to clear all 3 levels in the first attempt and the reason behind the exceedingly amount of time taken to earn your charter.

• Would like to be a part of a distinguished community;

CFA charter holders are a different breed altogether. To be a part of a community of people who are experts and have excellent knowledge along with experience in the financial field is a major plus point. The networking potential is enormous and the scope to learn is immense; not to forget the quality contacts you will make if you become a part of this community.

CFA isn’t for you if

• You can’t commit;

The CFA curriculum undoubtedly requires a strong commitment from you. An average of 6 months and 300 plus hours are needed to clear the exams, and such discipline is only possible if you devote the time and discipline to CFA. Preparing for CFA will probably not let you do the things you enjoy, like working out, spending time with friends, or going to the movies. That’s something you will have to consider before enrolling in the program.

• You have a strict schedule;

This one is more for working professionals or people who are employed. Having a job means spending a third of your day, if not more, working. Managing a full-time job along with other important commitments can fill up your schedule and not leave you time for quality study. It's important to first analyze your schedule and see if you can commit a specific part of your day towards preparing for your CFA.

• You’re following the crowd;

It’s quite common to see that an individual is only doing the CFA program just because others are doing it or they have been told to enroll in the program by their teachers or parents. Following the herd will not be beneficial for you in the long term or the short term. You must see if doing the CFA program aligns with what you want, your strengths, and your plan for the future.

• Rote learning is your style

If you are used to memorizing concepts, you will find the examinations very difficult. On the other hand, if you have understood the concepts and their application well, the examination will be relatively easy for you.

Conclusion

One must also remember the level of difficulty of the examinations. The CFA examinations are primarily based on testing your understanding of the concept and how well you can apply it in real-world scenarios. You will attempt questions in the form of multiple-choice questions which will be application-based.