Including those related to finance, such as banking, securities, insurance, funds, stocks, etc., as well as related certifications such as auditing, law firms, etc. What are the different directions and focuses of each certificate?
At present, there are four main financial certificates with high gold content: CFA (Chartered Financial Analyst)
), FRM (Financial Risk Manager), CQF (International Quantitative Financial Analyst), CFP (International Financial Planner).
In order to let everyone see the true nature of these certificates and figure out which certificates are worth spending time preparing for, let me analyze them for you.
1. CFA – Chartered Financial Analyst
Every year, many people denigrate the financial industry and then belittle the certificates in the financial industry. As the most well-known CFA in the financial field, it is inevitable that it will become the target of public criticism.
CFA is an exam held by the Chartered Financial Analyst Institute (CFA Institute) in the United States. It is divided into 3 levels. You need to pass the exam step by step each year, and finally submit work experience for certification by the association before you can become a certificate holder. Objectively speaking, due to the impact of the epidemic, jobs in the financial industry have shrunk and salaries have declined. However, it is against this background that more emphasis is placed on the professional strength of candidates. Obtaining the CFA is the best way to prove your professional and technical level, and the CFA certificate will also bring you high-quality network resources.
There is bread and butter, and there are great opportunities in the next ten years. I’m afraid you won’t be able to catch it when the rally comes. Before the opportunity comes, I suggest you first take a CFA certificate. This certificate is one of the top ten valuable certificates published by the People’s Daily. It can play a big role in your career planning – whether you want to change jobs externally or join internally. A certificate is indispensable for salary. After all, there are so many experienced people, and the only way to widen the gap is through higher professionalism.
2. FRM——Financial Risk Manager
Some candidates will be dissuaded by the high exam fees and long exam cycle of CFA, so you may consider taking the FRM exam first.
FRM is an examination organized by the Global Association of Risk Managers (GARP Association) and focuses on financial risk management. FRM has only two levels and can be completed in one go, and the cost is much lower than CFA. Passing the FRM exam can make you a professional elite in the field of risk control. Many risk control departments of domestic commercial banks and large securities firms/funds explicitly require applicants to hold FRM certificates, which shows its value.
3. CQF——International Quantitative Financial Analyst
When I introduced the CFA certificate before, I gave it the title of “the most well-known”, but it is not the most difficult. So
The most difficult certificate in the financial field must be CQF. Many friends are not familiar with this certificate because it is very niche. There should be no more than 500 holders in China. He is the Taishan Beidou in the field of quantitative finance – the examination organized by the Quantitative Financial Analysts Association led by Paul Wilmott (equivalent to John Hull’s position in financial engineering). Only after passing the CQF series of courses can you be eligible to take the exam. If you pass the CQF exam, you will basically have the level of a world-class financial engineer. The only disadvantage of CQF is that the examination fee is too high. It costs about RMB 80,000-100,000 to pass the exam. If your job is related to quantitative finance and your company can reimburse the exam fee, you may consider it.
4. CFP——International Financial Planner
CFP is mainly aimed at positions such as private account managers in banks and investment consultants in securities firms. Through the study of CFP courses, you can pass the exam.
Students can master methods to help clients with asset allocation and financial planning. CFP will also involve some financial products and simple financial engineering, but they are not very difficult. If you are determined to engage in financial management business but are afraid of the difficulty of CFA and FRM, you may consider CFP.