How to be a CFA in South Africa
Becoming a Chartered Financial Analyst (CFA) is a great way to become a respected and sought-after financial analyst in the world of finance. Achieving the CFA designation through rigorous study and research will demonstrate to potential employers your knowledge and experience in the field.
Chartered Financial Analyst CFA program is designed to empower professionals, undergraduate and graduate students who seek a career in wealth management, financial planning and investment management. The program is recognized globally and offers opportunities for Charter holders to seek employment everywhere in the world.
In this blog post, we will be exploring the requirements, steps, and resources needed to become a CFA in South Africa.
Who is a Chartered Financial Analyst (CFA)
A chartered financial analyst (CFA) is a globally-recognized professional designation given by the CFA Institute, (formerly the AIMR (Association for Investment Management and Research)), that measures and certifies the competence and integrity of financial analysts. Candidates are required to pass three levels of exams covering areas, such as accounting, economics, ethics, money management, and security analysis.
How to become a CFA in South Africa
Are you interested in becoming a CFA in South Africa? If so, you’re in luck! With the right education and dedication, you can make it happen. Here’s what you need to know to get started on your path to becoming a CFA in South Africa.
1. Get an Education
The CFA Institute requires that all CFA candidates have at least a bachelor’s degree. This doesn’t necessarily have to be in finance, but it’s recommended. This will give you a better chance of passing the CFA exam and having the necessary knowledge to be a successful CFA.
2. Complete the CFA Program
The CFA Program consists of three levels, each of which is designed to test different aspects of financial analysis. Each level requires its own set of exams and requires a certain amount of work experience. The first two levels are generally easier than the third. After passing all three exams, you’ll receive your CFA designation.
3. Gain Experience
In order to be a successful CFA in South Africa, you’ll need to have experience in the field. This can be gained through internships and jobs in investment banking, asset management, and other related fields. The more experience you have in the industry, the better.
4. Get Licensed
Once you’ve completed the CFA Program and have the necessary experience, you’ll need to become licensed in South Africa. This requires a few steps, including completing the CFA Institute’s licensing process and submitting a portfolio of your work to the South African Financial Services Board (FSB). Once approved, you’ll receive your CFA license.
5. Find a Job
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Once you have your CFA license, you’ll need to find a job in the field. You can search for positions in a variety of industries, including banking, asset management, and consulting. You may also be able to find an internship in one of these industries.
Enrollment Criteria and Requirements for CFA Program
To become a CFA candidate, you must enroll in CFA Program and register for the Level I, Level II and Level III exam. In order to enroll, you must meet all of the qualifications listed below.
- Posses a bachelor degree certificate a college/university.
- Have an International traveling passport.
- Be prepared to take exams in English.
- Meet the Professional Conduct Admission criteria.
- Live in a participating country.
Schools offering CFA program in South Africa
- International Business Training College IBTC.
- CFA Institute.
- Spectrium Graduate School Of Business
- College of Chartered Accountants.
- Financial Training Institution South Africa.
- South African College Of Business.
How much does a CFA earn in South Africa?
A Chartered Financial Analyst (CFA) with 1-4 years of experience earns around R524,023 based on 22 salaries, whiles a Chartered Financial Analyst (CFA) with 5-9 years of experience earns around R616,976 based on 13 salaries.
Final words
Becoming a CFA in South Africa is not an easy process, but it can be incredibly rewarding. With hard work and dedication, you can become a Chartered Financial Analyst in South Africa, and enjoy the professional and financial rewards that come with it.
