Nithin Kumar Reddy Dec 09, 2025

How to Become a Certified Financial Analyst: Step-by-Step Guide

To become a Certified Financial Analyst (CFA), you need firm foundational knowledge and a relevant qualification. The demand for CFA professionals in the financial industry is rising every day. According to the CFA Institute 2025 Graduate Outlook Survey, finance remains the most desirable career choice among students and fresh graduates, which reveals the high demand for the profession. There are more than 200,000 charterholders across 160+ markets worldwide, from CFA, and still the profession remains highly valued by employers. So, attaining a career in the ever-evolving finance industry is both rewarding and reputable.

To become a CFA, you must undergo a strict qualification process that includes attending three level exams, acquiring work experience, and attaining a CFA membership.

If you are a student or professional in the finance industry who is aspiring for a financial analyst certification, this blog will guide you through the 6 steps to becoming a financial analyst, the required skills, career options, and the various certifications of a CFA.

Popular Financial Analyst Certifications

There are various finance certifications that you can choose according to your skills and interests. Let’s explore some of the popular financial analyst certifications, their eligibility, exam structure, and duration.

Chartered Financial Analyst (CFA)
Certified Financial Planner (CFP)
Certified Management Accountant (CMA)
Financial Risk Manager (FRM)

Certification	Eligibility	Exam Structure	Duration
Chartered Financial Analyst (CFA)	Bachelor’s Degree Or 4000 hours of relevant work experience	Level I: Basic concepts of investment tools and ethics Level II: Application of investment tools and asset valuation Level III: Portfolio management and wealth planning	2.5 to 4 Years
Certified Financial Planner (CFP)	Bachelor’s Degree Or 6000 hours of relevant professional experience	One comprehensive exam (6 hours)	12–18 Months
Certified Management Accountant (CMA)	Bachelor’s degree in any discipline 2 years of continuous professional experience in management accounting or financial management	Part 1: Financial planning, performance, and analytics Part 2: Strategic financial management Each part has a 4-hour exam with 100 multiple-choice questions and 2 essays	12–18 Months
Financial Risk Manager (FRM)	No formal education requirement 2 years of relevant work experience required for certification	Part I: Foundations of risk management, quantitative analysis, and financial markets Part II: Market, credit, operational, and integrated risk management Exams are held in May and November.	1 to 2 years

CFA stands out as the most significant compared to other certifications. Here is what sets it apart.

Global Recognition
Comprehensive Financial Expertise
High Ethical and Professional Standards
Earning Potential
Rigorous Qualification Process

6 Steps to Become a Certified Financial Analyst

If you are a financial analyst aspirant, here is your step-by-step guide to becoming a certified financial analyst.

Earn a relevant bachelor’s degree
Choose your specialisation
Prepare for the CFA exam
Gain practical experience
Keep yourself updated on financial news
Apply for a CFA membership

1. Earn a Relevant Bachelor’s Degree

You must first earn a relevant bachelor’s degree from a recognised university. Obtaining a degree in finance, economics, commerce, or business administration is the best option, even though it is not mandatory. Related fields like engineering, mathematics, and statistics are also relevant. These fields can impart deep foundational knowledge, which is an additional benefit while preparing for qualifying exams.

2. Choose Your Specialisation

You must determine your area of specialisation based on your skills and interests. The early decision can help you plan your long-term career strategically. The financial analysis is a broad sector where you can find various specialisations, including.

Investment & Portfolio Management
Risk Management
Corporate Finance
Financial Planning & Wealth Management
ESG & Sustainable Finance

Let’s find out which financial analysis specialisation fits your skills and interests.

If you are someone who enjoys analysing markets and investments, investment and portfolio management offer the best opportunities.
If you are a detail-oriented professional with strong analytical skills, then risk management or corporate finance can be your cup of tea.
If you want to work with clients in managing their finances, financial and wealth management can be a good fit.
If you are enthusiastic about sustainability and ethical finance, then ESG and sustainable management are an ideal option.

3. Prepare for the CFA Exam

Initially, you have to understand the exam structure of CFA. There are three levels in the CFA exam, as we discussed earlier. Level one consists of basic concepts of investment tools and ethics. In level two, you have to apply investment tools and asset valuation. Portfolio management and wealth planning come under level three.

The CFA exam is a rigorous qualification test. It requires a strategic and systematic study plan. Here are some tips to ace the test.

Schedule a 6–9 month study plan for each level
Learn from official CFA Institute resources
Join training programs or study groups for guidance
Practice regularly and consistently with mock exams and question banks
Prioritise the Ethics and Financial Reporting sections

4. Gain Practical Experience

You have to gain relevant practical experience to achieve a qualification and grow your skills. Begin with internships and entry-level roles in the finance industry, like banking, investment management, or corporate finance. You are required to acquire a minimum of 4,000 hours, over at least 36 months of work experience, to attain the CFA membership.

5. Keep Yourself Updated on Financial Developments

The financial industry is constantly growing and updating. You must keep yourself updated to enhance your professional credibility and strengthen your knowledge. To keep up with the relevant and newest financial developments, you can practice the following.

Read authentic and credible sources like Bloomberg, The Financial Times, and Reuters.
Update with economic reports, market trends, and policy updates
Participate in CFA Society events, webinars, and finance communitiesApply for a CFA Membership

A CFA membership is mandatory to signify your professionalism, ethical standards and financial expertise on a global level. After all three levels of exam and the work experience, you have to apply for a membership from the CFA Institute. After getting approved, you can be a certified financial analyst.

3 Skills You Need to Become a Financial Analyst

Analytical Skill

You require great analytical skills to become a financial analyst. Analytical skills will be counted on in your responsibilities as a financial analyst, including:

Understanding financial data
Developing investment strategies
Conducting data analysis
Preparing forecasts
Assessing profitability and risks

Computer Skills

To become an expert in financial analysis, you must master spreadsheet tools like Excel and various financial analysis software. The mastery of such tools is crucial for:

Valuation
Forecasting
Budgeting
Building financial models
Preparing financial statements
Conducting financial reporting

Communication Skills

You need to master both written and verbal communication skills to become an expert financial analyst. Your communication skills can help you with:

Explaining complex financial concepts to clients and stakeholders
Preparing financial reports
Presenting investment decisions
Participating meetings

Read more: : Benefits of Finance Certification

Final Thoughts

An ideal finance analysis course with expert mentors can help you succeed in the journey to CFA. Becoming a certified financial analyst is a rewarding and respectable career option in the financial industry. To become a certified financial analyst, you have to go through a constant learning and upskilling process.

If you are passionate about the finance industry and want to become a part of it, start your journey wisely. And we hope that this blog clearly imparts wisdom, guidance and motivation to achieve your dream job.

Do you aspire to work in Finance Analysis ?

Join Edoxi CHFI Training to learn the best practices!

FAQs

1. What is the total cost to pursue the CFA program?

The total cost of the CFA program may vary depending on the registration timing, but an average of USD 3,000 to USD 4,500 is required for all three levels.

2. Is pursuing CFA while working full-time possible?

Yes, the CFA program is designed for working professionals, too. Many are pursuing CFA alongside their professional career.

3. What kind of jobs can I get after qualifying for the CFA exam?

You can work as an investment analyst, portfolio manager, risk analyst, equity researcher, or financial consultant.

4. Is the CFA exam difficult to crack?

Yes, CFA is a rigorous qualifying test. But with consistent and disciplined preparation and the right mentoring, you can succeed.

5. Is CFA a globally recognised certification?

Yes, CFA is a globally recognised certification that has the highest reputation and remunerative opportunities across the finance industry.

Nithin Kumar Reddy

Accounting and Finance Trainer

Nithin Kumar Reddy is an Accounting and Finance Trainer with over 8 years of experience in finance and accounting training. His expertise includes IPSAS, IFRS Consultation, Implementation, Auditing, and Public Accounting. He is a qualified professional, holding credentials as a Chartered Accountant and a Public Accountant.

Nithin is a member of the Institute of Chartered Accountants of India (ICAI), the Chartered Institute of Public Finance and Accountancy (CIPFA), and the Association of Certified Fraud Examiners (ACFE). He has also earned diplomas in IFRS and Public Financial Management (PFM) certifications.

As a corporate trainer, Nithin Kumar has successfully conducted training sessions for clients in IFRS, IPSAS, and PFM implementations, corporate tax, auditing, financial systems, and cost management. His corporate training portfolio spans the Asia-Pacific, Middle East, and Africa. Nithin is renowned for his deep knowledge, engaging teaching style, and unique ability to simplify complex financial concepts. During his training career, Nithin has successfully trained over 1,000 finance professionals.