Canada has the second largest number of CFA,s representing 13% of total charterholders worldwide. The designation and resulting network are firmly established with 11 CFA societies and 14 testing centers throughout the country.
Are you or do you plan to build your career in the finance and investment field? Take a look at how you can join the community.
The number of CFA charterholders increased rapidly in the 1990s and stabilized after the turn of the century. After that, the number of newly awarded charters tends to correlate with the business cycle.
Update: 831 charters were awarded in 2014
Canadian jobs that may require the CFA designation include the following:
* As former bankers, we don’t think investment banks necessarily ask for CFA designation, but the fact is that 5% of CFA in Canada (and 4% of CFAs worldwide) are i-banking analysts.
** Preferred but not necessary.
Similar to the US, the most popular job among CFA in Canada is portfolio management representing 22% in total. There are a lot of research analysts representing 10%. The rest are high-level professional and senior management jobs within the finance and investment community.
The process to become CFA in Canada is no different from the rest of the world, but given the large number of Canadian candidates, the institute makes it easier for us by providing many testing centers.
The first thing you should do is join the CFA Institute and start the CFA program. Check out the review materials and prepare for the Level I exam, which is held several times a year.
The pass rate of Level 1 is very low, but the reason is mostly due to the low entry barrier and the number of “casual” exam takers. For those who have knowledge of the industry and are serious about getting the designation, the first level of the exam isn’t that hard.
Once you pass Level 1, you can register for Level 2 and then Level 3. The levels have to be done in sequence. On average, it takes a successful candidate 4 years to complete the three levels. Once you are done with the exam, there is the last requirement of working experience that you need to fulfill. It is generally not an issue, but it takes time — 4 years of full-time experience is required. You can accumulate the experience before, during, or after the exam.
The CFA designation has long been established in Canada. Therefore, there are enough candidates to support the many centers available throughout the country.
If you are a Canadian candidate residing outside of your home country, check out other CFA exam locations here. You are free to choose a testing center anywhere in the world.
CFA Societies in Canada
If you would like to know more about the CFA and how to enter the CFA program, check out our page on frequently asked questions or on how to become a CFA.