Your job ambitions are a major determining factor in determining whether the CFA level 1 is worthwhile because most candidates take it for career reasons. Is CFA level 1 worth it? can be even harder to answer if you already hold an alternative professional qualification, such as the ACA.
The CFA level 1 is a strong indicator of knowledge and a signalling tool to potential employers as to the drive of an individual. However, just a portion of the finance industry, not all, is likely to recognise and value the credibility and respect you gain as a level 1 holder. For instance, the asset management, equities research, investment strategy, and buy-side industries place a high importance on the CFA qualification.
Where are you in your life and career right now?
CFA level 1 is typically taken by people between the ages of 20 and 30.
If you fall into this category, you can use your newly acquired knowledge on the job right away by studying for and passing the CFA level 1 after gaining some valuable work experience at the junior level. This will boost your confidence and credibility as you advance to the mid-manager level, where job promotions are more important.
Can the CFA Level 1 help me change careers or get a new job?
In other words, the CFA level 1 by itself won’t help you change your profession, but when combined with active job searching and extensive networking, it can.
No qualification in the world will guarantee you employment; networking and interviewing skills are what you need. A motivated individual won’t struggle with these soft skills, but I’ve observed many others who continue to try to avoid them and hunt for workarounds. There’s none.
You must have the ability to persuade others that you are the best candidate for a position if you want to get a job or shift careers. Your academic prowess is attested to by your CFA qualification. However, you must be skilled at networking and interviewing if you want to land the position.
The CFA level 1 requires time and effort, and there is no assurance that it will enhance professional chances
There is a lot of debate around “is CFA level 1 worth it?” because of the amount of upfront work needed and the lack of a return on investment.
You just need to put in the time if you want to pass the CFA examinations; it has nothing to do with your financial situation. And that makes people question if it’s worthwhile a lot. However, the fact that you retain the masters-level financial information you learn from it may be the very reason it is worthwhile.
