You shall pass

Last week results for the Chartered Financial Analyst (CFA) level 1 exam were published and 39% of the approximately 23,000 candidates passed. Successfully completing the CFA program is often seen as being proficient in a broad range of finance topics and being disciplined. Before the covid-19 pandemic the CFA program gained popularity with the number of level 1 candidates increasing 68% from 2014 to 2019. But this popularity waned with the number of candidates dropping 48% from 2019 to 2022. A possible explanation is mobility restrictions in Asia especially in China, where the CFA program was very popular. However, potential candidates might have felt that the CFA program had lost its relevance in today’s working environment. And it seems the CFA Institute also felt this, as they have announced a major overhaul of the program which will take multiple years.

Source: CFA Institute, 2023.