How to become a CFA® Charterholder
Here is everything you need to know to achieve the CFA charter, from enrollment criteria for the CFA Program, to applying to become a CFA Institute member.
What is a Chartered Financial Analyst®
Chartered Financial Analyst (CFA®) is a professional designation that shows you have a strong understanding of advanced investment analysis and real-world portfolio management skills. You build this knowledge by completing a 3-part exam (the CFA Program – Level I, Level II, and Level III).
You also need to complete qualifying work experience and become a regular member of CFA Institute in order to be awarded the CFA charter.
How to become a CFA Charterholder
Pass your CFA exams
All three exam levels of the CFA Program need to be completed, plus the Practical Skills Modules.
Complete work experience
Qualifying work experience is required to enroll for the CFA Program Level I exam and apply for membership.
Apply for membership
This enables you to use the CFA credential, as well as giving you access to exclusive benefits.
Step 1: Pass your CFA exams
To become a CFA Charterholder, you must first register and enroll in the CFA Program and pass all three exam levels.
- Level I tests your knowledge of foundational financial terms, concepts, and formulas
- Level II assesses how you analyze situations and come up with solutions using the knowledge you have accumulated
- Level III interrogates how you integrate concepts and apply knowledge to real-world scenarios
There are also Practical Skills Modules (PSMs) that you’ll need to complete. These have been designed to help you apply your knowledge to real world scenarios that you might encounter in the investment industry. There are different topics you can choose from at each level, ranging from Financial Modeling and Analyst Skills, to Python, Data Science and AI. Find out more about Practical Skills Modules.
Step 2: Complete work experience
You can carry out your work experience before, during, or after you participate in the CFA Program, but you need at least 4,000 hours (completed over a minimum of 36 months).
Qualifying work experience enables you to apply for Charterholder membership, which allows you to use the CFA designation. For your work experience to qualify, it must either be directly involved with the investment decision-making process or producing a work product that informs or adds value to that process. Take the work experience assessment to see if you are ready to apply for membership.
Step 3: Become a Member of CFA Institute
To be a Chartered Financial Analyst® (CFA®) and use the designation, you need to become a member of CFA Institute. This demonstrates your ongoing commitment to upholding the highest standard of ethics in the investment industry.
To apply for Charterholder membership, you need to have passed all three levels of the CFA Program and carried out at least 4,000 hours of relevant work experience, completed in a minimum of 36 months. You also need to supply 2-3 professional references as part of your application.
To reflect the range of experiences investment professionals have, there are other membership options available for people who have not completed the CFA Program. However, you won’t be able to use the CFA designation unless you meet the criteria outlined above.
Explore the CFA® Program
Whether you’re considering the CFA Program or already registered as a candidate, we have information and resources to help you navigate the next step.
