Some would argue that as an organization that is almost 50 years old could quickly become obsolete in a world where new products, principles and guidelines are being introduced every month (or so it seems). I would personally argue that the CFA Institute and the CFA program is as relevant as it has ever been, both for current and potential candidates.
Reasons Why The CFA Is As Relevant As It Has Ever Been
–The program tests two main things; dedication and knowledge of finance basics. I think both are and will always be considered highly important for almost any type of work in finance.
–Perfect Introduction For Non-Finance Backgrounds: A decade ago, almost anyone on Wall Street had studied finance but as things get more complex and depend more heavily on IT, all kinds of other scientific background people are making their way. Programmers, physic and math majors and all kinds of other backgrounds are making their way to Wall Street but with little to no finance background. No matter what you end up doing, knowing the basics is critical and the CFA can be exactly that to those candidates.
–Reputation: While much of the financial industry’s reputation has been tarnished by frauds, misleading products, and other scandals from the past few years, the CFA title has been able to keep a solid reputation in the industry.
–Unique Way To Stand Out Around The World: Unless you have studied at an elite university, your best shot at standing out and being able to get a great job anywhere in the world is by holding a CFA title. It is known and recognized and since the exam is the same, its value is still formidable.
–Job Opportunities: In the end, holding the CFA is not only great for your resume but it will also help you get better contacts (both by mentioning it and by going to CFA activtiies organized by your local chapter. Also, most local chapters have job listings only available to their members which can include a lot of jobs you would have never known about.
Do you still consider the CFA relevant and if so, in what ways?