If you're nearing the end of your IMC qualification, or if you finished it a little while ago, you might be thinking about a move to the CFA Program. Here’s how to do it.
CFA is widely known as the gold standard course in the sector, and can unlock opportunities for career progression around the world.
Firstly, here are some things to consider before making any decision.
What is the difference between IMC and CFA?
For many learners, IMC is their first step into the investment profession. It provides an excellent foundation into the core areas of portfolio management, research analysis, front office investment activities, relationship management and risk management.
CFA is a big step up and is widely seen as a way for candidates to distinguish themselves from their peers. It’s a way of demonstrating their commitment to a higher standard of excellence. What’s more, it’s a globally recognised qualification unlike the IMC which is a UK specific qualification.
To start CFA, you’ll need a Bachelor's degree, or you’ll need to be completing the final year of your degree. Alternatively, you could have four years of relevant qualified work experience, or have a combination of both.
Progressing to CFA after IMC
Once you’ve completed IMC you can go on to do CFA Level 1 and progress to become a CFA charterholder. CFA is considered a much harder qualification to achieve, but the rewards are well worth the effort. From a higher salary to global job opportunities.
The good news for you is that IMC covers 30% of the curriculum of CFA Level 1 including key areas such as ethical and professional standards, quantitative methods, financial statement analysis, economics and portfolio management.
It gives you a solid starting point for CFA and you can feel confident knowing that there is some common ground you’ve already encountered.
How long will it take to move from IMC to being CFA qualified?
Although there are no exemptions, it typically takes candidates 3-4 years to complete all three levels of the CFA Program.
How much does it cost to move onto CFA?
Prices start from £820 for a Distance Learning study package for Level 1. This pricing is subject to change.
Can I get my employer to pay for my qualification?
Yes. We recommend speaking to your Manager to find out whether your employer is willing to pay for your course.
Do you offer payment plans?
Yes we do. Find out more about how we can help you to spread the cost by paying monthly.
How hard are CFA exams?
The CFA exams are demanding, and increase in difficulty as you go through the syllabus. We’re confident that when you follow your study plan as part of a Kaplan study package, you’ll increase your chances of exam success. We provide high quality Schweser materials designed by our own CFA experts that know the syllabus inside out.
What are the pass rates?
We’re not able to share the pass rates of our students which is in line with CFA Institute guidelines. However, we have had tens of thousands of CFA charterholders that have passed their exams with Kaplan Schweser since we started teaching the qualification in the 1990s.
Could I earn more with a CFA qualification?
The other thing to consider is where you want your career, and salary, to go. If you’re wanting a large salary with most doors open to you, then CFA is the way forward. You could be looking at a salary of over £90,000* dependent on experience and your role.
So should I do CFA?
In the end, it’s entirely up to you, but there are some things to consider. CFA will take up a lot of your free time, so you’ll need to consider if you can really commit to it. With over 300 hours of study per level it will require dedication and hard work.
What next?
Find out more about CFA and our regular information sessions.
*Source - https://www.cfainstitute.org/en/programs/cfa/charterholder-careers