I'm concerned that after clearing all 3 levels of CFA what If my work experience does not qualify to get the Charter?

CFA General
#1

Currently, I have 3 years of work experience in Revenue Management in the Hospitality Industry. I have complete knowledge of finances, budgeting, auditing and accounts for the Hospitality Industry and wish to pursue the CFA in 3 years.

I’m concerned that after clearing all 3 levels what If my work experience does not qualify to get the Charter?

#2

Pass all the tests, eat all the pizzas, catch all the Pokemon.

#3

Written correctly, a fast food worker could qualify. It’s all about phrasing.

#4

I see you are a charter holder as well. My work as a Revenue Manager involves more of accounting and finances for the company, like audits, balance sheet, cost control, budgeting etc. Has nothing to do with investment or the capital markets at all. Do I still have a chance? I would like to know from others as well, especially charter holders who do not have any investment or share market related experience.

#5

First off, you need 4 years of experience. And then, at least 50% of the time needs to be involved in the relevant activities.

For the experience to count as relevant, it needs to cover two major tests. It needs to:

  • Demonstrate how you conduct independent analysis that impacts investment decision-making for institutions or individual clients; and
  • Indicate how your duties produce a work product that informs or adds value to the investment decision-making process.

While it may seem to you that your work is not relevant to investments or capital markets, that is probably not true at all. All your work products sound like they add value to the investment decision-making process. For example, your C-suite guys rely on analyses/budgets prepared by you to monitor their revenues/costs in order to guide them to make appropriate investment decisions in the course of operation of the company. Audit reports enable investors to rely that financial statements provide true and fair view of a company’s financial position and performance, in order to guide them in which company to invest, and in which not to.

You can check the CFA institute page @ https://www.cfainstitute.org/en/membership/join/work-experience to see some examples on appropriate and inappropriate wording. There is also a self-assessment page where you can input the relevant facts of your job and the test results will tell you whether it is likely your role will be counted or not.

#6

+1

Bookmarking this for when I apply for the membership (hopefully end of August!)

#7

You are not alone. There are Hundreds of such candidates, if not thousands. Many candidates pass Level 3 exam but still are not eligible for the Charter. They need to complete 4 years of relevant work experience. Passing CFA Level 3 can help some candidates to break into some investment roles and gain the relevant experience to receive their Charter later.