cfa-exam-dates-2017

CFA Exam Dates 2017

The Chartered Financial Analyst (CFA) exam is comprised of three different tests – Level I, II, III – that have to be passed in sequential order (i.e. – first test needs to be passed in order to take the second). On the first Saturday in June of each year, all three exams are offered. Additionally, the Level 1 exam is offered also offered in December. The following dates are approximate deadlines for the 2017 CFA exam.

Test centers are located around the globe. Learn more about which test center you’ll be assigned to.

Official Exam Days in 2017  

  • June 3, 2017 – Levels I,II,III
  • December 2017 – Level I only (official date to be determined)

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chartered-financial-institute

Chartered Financial Analyst Institute

The Chartered Financial Analyst Institute is a global non-profit organization of financial and investment professionals all across the world. Headquartered in Charlottesville, Virginia, the CFA Institute administers the CFA Program and also publishes the Financial Analysts Journal. The not-for-profit institute awards investment professionals the Certified Financial Analyst (CFA) and Certified in Investment Performance Measurement (CIPM) designations.

The Chartered Financial Analyst Institute has more than 142,000 members from 159 countries. Every chartered financial analyst institutemember must abide to the Code of Ethics and Standards of Professional Conduct.

History of the Chartered Financial Analyst Institute

Formed in 1925, the CFA Institute was originally formed as Investment Analyst Society of Chicago by investment analysis. During that time, similar organizations were formed in major cities including New York. In 1947, the organizations merged as an umbrella company called the National Federation of Financial Analysts Societies (NFFAS).

In 1959, the professional members voted to form the Institute of Chartered Financial Analysts (ICFA) due to the need to provide CFA certifications.  In 1963 the first CFA exam was offered and a year later took on the three exam style that is present today.  The NFFAS later became the Financial Analyst Federation (FAF).

In 1999 the NFFAS and the FAF merged to form Association for Investment Management Research (AIMR).  5 years later in 2004, members of the AIMR voted to change its name to CFA Institute to strongly associate itself with the CFA charter they issue to financial professionals.

The CFA Institute is located in 73 countries worldwide..  More than half of the members are located in the United States and Canada.

Cities with the largest members are;

  • New York: 10,945 members
  • London: 9,500 members
  • Toronto: 6,289 members
  • Hong Kong: 4,399 members
  • Boston: 4,526 members
  • Chicago: 3,377 members
  • San Francisco: 2,767 members
  • Los Angeles: 2,003 members

Visit the official website of the Chartered Financial Analyst Institute.

chartered-financial-analyst-salary

Chartered Financial Analyst Salary

A Chartered Financial Analyst salary is based on several factors including years of experience, job type, industry, region and more. Like many of professional salaries, it is difficult to determine an individual’s expected salary. We can, however, find the average CFA salary found on sites that collect salary data.

Average Salary for a Financial Analyst with a CFA Charter

Professionals who complete all three CFA Exams are more likely to earn a higher paycheck. According to Payscale, the average certified financial analyst salary in the United States is $58,022. Again, there are many factors involved in this figure.

Based on national averages, the following is a salary range for professionals who hold a CFA charter;

  • Salary: $44,820-$91,977
  • Bonus: $6,848
  • Commission: $7,000
  • Profit Sharing: $1,500
  • Total Pay: $60,168-$107,325

Data as of 11/25/16.

Chartered Financial Analyst Salary by Job Type

Below is a snapshot of the salary ranges for professionals who have obtained Financial Analyst Charter. This is according to Payscale, a company that collects salary data.

 

As you can see, the range is pretty broad based on the job type.  Below is a further breakdown based on schools, companies, cities and gender. You can do your own due diligence with the specific information based on your scenario at Payscale.

cfa-charter-statistics

chartered-financial-analyst-overview

Chartered Financial Analyst

The Chartered Financial Analyst (CFA) Program is a globally recognized curriculum offered by the CFA Institute. The graduate level program is aimed for financial & investment professionals to further their knowledge and skill level. The program focuses on investment analysis and portfolio management skills along with other investment information you need to succeed in the real world. In order to earn a CFA charter, a candidate must pass three in-depth exams and meet other professional requirements.

The demand for a CFA charter has become more desired by professionals in the industry and organizations who hire them.  As of December 2016, the CFA Institute has about 142,000 members in 159 countries worldwide including; United States, China, India, Canada, United Kingdom, Hong Kong and Singapore.

Passing the Chartered Financial Analyst Program can springboard your career as a financial analyst due to its reputation and the real world knowledge you will attain through the curriculum.

In order to become a CFA Charterholder, the following requirements must be met

  1. Possess a bachelor’s degree from an accredited institution or have fours years work experience in an approved financial setting. You may have a combination of education and work experience to meet this requirement but it must be approved by the CFA Institute.
  2. Complete the CFA Program and successfully pass all three, 6 hour exams administered by the CFA Institute.
  3. Become a member of the CFA and apply for a membership with a local CFA member society.
  4. Accept and Follow to the CFA Institute Code of Ethics and Standards of Professional Conduct.

The CFA Exams

The CFA Program consists of three exams that are offered select test centers across the world.  The 3 exams are known aschartered financial analyst Level I, Level II and Level III; these must be passed in sequential order.

All exams are administered on paper in a single day, (2) 3 hour sessions. 

  • Level I Exam: consists of multiple choice questions
  • Level II Exam:  composed of item set questions
  • Level II Exam: composed of item set and essay questions

Benefits of Becoming a CFA Charterholder

The CFA Program targets investment knowledge; unlike a school program where the study is broad. Professionals who are seeking to become a charterholder do so because they are just entering the field, they want to become more marketable, or are changing career paths.  A Chartered Financial Analyst salary tends to increase once the exams are completed.

The following are just some of the benefits a CFA charterholder possesses;

  • Global Recognition
  • Career Advantage
  • Practical Skills
  • Community in Industry

Learn more about the CFA Program if you are looking to get started.