Unlocking Financial Analyst Certification

Financial analysts advise customers on how to manage money to make a profit. They may recommend investments, study business trends, and analyze historical financial data. In addition to offering a varied list of daily tasks, it’s also notable that the US Bureau of Labor Statistics (BLS) expects the job market for financial analysts to grow 9 percent from 2023 to 2033, which is faster than the national average of 4 percent [1]. 

Becoming a financial analyst typically requires you to earn a bachelor’s degree in business or a related field. Pursuing additional credentials can also help in your career path. Discover some popular financial analyst certifications that could help you succeed in this job. 

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Popular certifications for financial analysts

Employers may recommend or require you to have certifications to improve your chances of advancing in your career. Explore the types of financial analyst certifications you can have on your resume.

Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) certification tests your understanding of investment tools, portfolio management, wealth planning, and more. Passing the three exams that make up the CFA process shows you understand the complexities of the evolving investment industry and can increase your professional options in the industry.

The CFA Institute oversees the certification process. It estimates that completing the exams takes three to four years. The organization predicts 300 hours of study per exam.

The CFA program exams are one part of several pieces you need to become a CFA Charterholder. In addition to passing the exams, you need to have qualifying work experience and complete the membership application, which includes professional references.

Requirements: You must have a bachelor’s degree. Alternatively, you can be within 23 months of completing your degree to take Level I, and within 11 months of completing your degree to take Level II. You can also qualify without a degree based on work experience hours or a combination of work experience and education completed within a specific time period. You must meet the requirements for professional conduct and hold a valid passport.

Cost (US): The cost starts at $990 for the Level I exam, though prices can be higher. You must pay for each additional exam level. The CFA Institute estimates that it costs between $2,550 and $4,800 to complete all three levels of certification. [2]

Financial Modeling & Valuation Analyst (FMVA)

The Financial Modeling & Valuation Analyst (FMVA) certification shows your proficiency in financial modeling. The preparation program for an FMVA includes modeling, budgeting, forecasting, and other topics in accounting and finance. The certificate can be a good option for workers in the fields of investment banking, private equity, and equity research.

Requirements: None

Cost (US): $497 to $847 [3]

Chartered Alternative Investment Analyst (CAIA)

The Chartered Alternative Investment Analyst (CAIA) certificate covers alternative investments such as private equity investing, buyouts, venture capital, and other types of investing. You must take the certification exams during specific testing windows, so it’s important to be aware of when the exam is being offered.

You can become an affiliate member of the CAIA Association once you pass the Level II exam. Full membership requirements include a bachelor’s degree and professional experience in addition to passing the Level II exam.

Requirements: No requirements to take the exams

Cost (US): $1,795 for the standard registration Level I exam and $1,395 for the standard registration Level II exam. Retaking the exams costs $795 [4].

Certified Public Accountant (CPA)

To become a Certified Public Accountant (CPA), you must pass the four sections of the CPA exam administered by the Association of International Certified Professional Accountants (AICPA). The exams take a total of 16 hours. CPAs are licensed by the Board of Accountancy in the state you want to practice in, so it’s important to know the particular requirements of your state.

Requirements: At least a bachelor’s degree. Other requirements can vary by state, such as the number of educational hours, age, or residency.

Cost (US): Varies by state

Who can get a financial analyst certification?

Anyone who aims to work in financial analysis and meets the certifying body’s requirements can pursue financial analyst certification. That said, it’s important to take some time and research the topics and requirements of different certifications that can be useful to a financial analyst before you decide which certificates are right for you.

Remember to take into account considerations such as whether you meet the requirements to take the exams, whether you have the time to study for the exams, whether you can cover the costs, and other factors that can affect how successful you may be.

How to get a financial analyst certification

Follow these steps to help you decide which certifications are right for you and how to obtain them

1. Choose the right certification.

It’s important to factor in each exam’s requirements, including time allotted, costs, and how it fits with your career, to determine the options that best fit your professional goals. Review each certification and consider the specializations and their relevance for your professional future.

2. Review certification requirements.

Some certifications have different requirements based on education, experience, or other professional factors. Others may have no requirements. Check each of the certifications you’re considering to make sure you meet the requirements.

3. Enroll in training programs.

Training programs can help you focus on specific topics and information that are part of the certification exam process. Some institutions offer training programs as part of their certification processes.

4. Create a study plan.

Develop a detailed study plan for each certification based on your particular needs. Consider including time to review questions and have practice sessions.

5. Register for the exam.

Each certification has its own exam registration. Learn the details for each exam and consider the cost of the exam and where and when you can take it. Some exams have specific testing windows, so consider whether you have time on your calendar to set aside for the specific dates.

Career opportunities with a financial analyst certification

A variety of financial professionals, including financial and budget analysts, may require or benefit from a financial analyst certification. Certification could help you get a job in fields involving financial analysis, including banking and financial management. Some of these financial positions and their median annual wages include:

• Financial analyst: $99,890 [1]

• Financial services sales agents: $76,900 [5]

• Budget analyst: $84,940 [6]

• Personal financial advisors: $99,580 [7]

• Financial manager: $156,100 [8]

Prepare for financial analyst certification on Coursera

Financial analyst certification can be a valuable credential to help advance your professional goals. Consider preparing for your path by building a solid foundation of knowledge and developing in-demand skills that can help you along the way. 

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