Many people entering our career (financial and stock management) believe that it is necessary to enter the stock market to make money, or a very large capital to be able to invest independently.
This essay will develop in detail a very practical, effective and profitable tool for all those interested in the world of finance. We are talking about a CFA certification for its acronym in English “Chartered Financial Analyst”.
What is CFA ?. Chartered Financial Analyst.
The CFA is an institute that certifies and endorses you as a financial analyst worldwide, this means that you can assess the risk, profitability and future of a project of any company anywhere in the world since it does not matter your nationality or where you have certified If you have this recognition you have it worldwide. This is because this organization is the best worldwide to obtain this specialization.
Why obtain this certification?
There are just over 150,000 people with this title in the world, and currently in Mexico there are few people with levels 2 and 3 of this certificate. Which means that the competition worldwide is very low, and in Mexico it is almost nil.
In addition, this has an enormous profitability, for the same reason, the lack of people with this capacity, different companies in the world, in addition to offering a very attractive financial reward, they are willing to pay all the necessary expenses to take the analyst to their company..
UPAEP will soon be one of the few assignments of this organization, the career director of "Financial and Stock Market Administration" confirmed that upon obtaining this certification it will NOT be necessary to accredit the AMIB exam since this certificate endorses the same qualities that it endorses the AMIB.
Why be an analyst?
The risk analyst is the one who has the last word and the complete decision in the elaboration of a project, the analyst is the innovator's right arm, since without him he would lose resources in a drastic way in case the smallest detail be wrong. Simply put, the correct execution of correct projects will depend on analysts.
At the time of being accredited in this certification you not only have the ability to say "yes" or "no", you also have the ability to identify and modify any detail of the project that harms its development, thanks to the fact that we are trained in various areas of finance and not only in numbers.
Requirements to certify CFA
Remember that the certification consists of 3 levels, so every year the exam is done for each level, for this you must have:
- 100% English: Remember that it is a worldwide certification, it only applies in the English language. Pay the exam: The exam costs just under 1500 USD. Have four years with relevant experience in finance. Have a university degree.
Really the requirements are not so demanding, making the accessibility to this exam easier. Of course, it does not return to the exam easier since only 43% of people accredit this certification.
Other certifications
There are other options to obtain a certification, among them the CMT for its acronym in English, chartered market technician, this certifies you as an expert in technical analysis.
The CMT certificate requires passing three exams, the first exam costs around $ 250 and $ 300 USD depending on the date it is paid, the second and third exam varies between $ 450 and $ 550 USD. If all these tests are passed, the CMT certified person will have to pay a membership of $ 350 USD per year. And with this, when you are appointed CMT, you will be able to work mainly in the administration of investments and hedge funds.
Another not very well-known is the FRM, for its acronym in English, Financial Risk Management, this certificate allows you to check the knowledge of the participant who is concerned with risk management in general.
The requirements of this, are somewhat different from the one mentioned above, since this asks you for at least two years of relevant work experience, and it must be kept in constant study since every two years an exam is carried out to verify that it continues to be updated on topics risk in general.
This, unlike the two mentioned above, only has 2 exams to obtain certification. Exams range from $ 350 to $ 650 each, depending on the dates you pay.
conclusion
Analyzing the current employment situation in Mexico, we are convinced that a certification of the aforementioned, can be a great alternative to be able to have a greater probability of being hired by a large company, since certificates, unlike a master's degree, take less time and are usually less expensive.
The CFA is the most complete certification, therefore, the most recommended and the best paid, if the plans of a graduate of a finance career are to work abroad, the ideal is to be certified as a CFA, since for example If you only have the AMIB, in countries like the USA it is not as well known, however, if you have at least one of the CFA levels, you would be at the level that any other person in the world who has this level of certification.
It only remains to say, that if we compare the cost-benefit a certification gives you greater added value than a master's degree, although the ideal would be to have both a master's degree and a certification, if you do not have the opportunity to have both, the recommended thing would be Having a CFA certification, since it does not depend on the prestige of a university, is less expensive, requires less study time, pay in a job is higher since a person with CFE is considered more layers and therefore has a higher acceptance in companies.
References
bbva. (July 12, 2015). ECONOMIC ANALYSIS Jul 12, 2015 What is a CFA or Certified Financial Analyst?.
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CFA institute. (). CFA Institute is the premier global association for investment management professionals. Recovered from
Edwin, R. Renta, F.. (). 5 certifications to be a finance expert.. Financial Market Analysis Unit- National University. Recovered from
