How Many CFA Charterholders Are There?
Uncover the true scale and global presence of CFA charterholders, understanding the rigorous standards behind this sought-after financial credential.
The Chartered Financial Analyst (CFA) designation is a globally recognized credential in the investment management industry. It signifies a high level of expertise, ethical conduct, and professional commitment among finance professionals. The interest in the number of individuals holding this designation reflects its growing prominence and the rigorous standards associated with earning it. Understanding the scope of the CFA charterholder community provides insight into the landscape of qualified investment practitioners worldwide.
The Global Count of CFA Charterholders
The CFA Institute, the global association of investment professionals, reports a substantial and growing number of CFA charterholders across the globe. As of 2024, there are nearly 200,000 CFA charterholders worldwide. This figure represents individuals who have successfully completed the demanding program and met all the stringent requirements to earn the charter. The charterholders are spread across more than 160 markets, demonstrating the widespread recognition and international reach of the designation.
This global count highlights the extensive network of professionals who adhere to the CFA Institute’s professional and ethical standards. The sheer volume of charterholders underscores the designation’s influence within the financial sector. These individuals work in diverse roles, from research analysts and portfolio managers to consultants and risk managers, contributing to various facets of the investment industry.
Geographic Distribution of Charterholders
CFA charterholders are distributed across major regions, reflecting the global nature of the investment management profession. While the CFA Institute does not publicly disclose exact charterholder numbers by individual country, data on overall membership and exam administrations provide insights into their geographic concentrations. North America currently accounts for the largest share of CFA Institute members.
Following North America, Europe represents a significant portion of the membership, with Asia closely behind. These regions serve as key hubs for financial activity and talent. Countries like China, the United States, India, and Canada have shown high numbers of CFA program administrations, indicating a strong pipeline of candidates and a substantial presence of charterholders. The presence of over 150 local CFA societies worldwide further facilitates professional networking and development within these diverse geographic areas.
Growth Trajectory of the Charterholder Community
The CFA charterholder community has experienced considerable expansion since its inception. The first CFA exam was administered in 1963. This marked the beginning of a credential that would steadily gain international recognition by the 1980s. The global charterholder count has grown consistently, now standing at nearly 200,000. This growth reflects the rising demand for qualified investment professionals and the increasing complexity of global financial markets. The community continues to grow, with an annual growth rate of approximately 5.5% globally.
The Path to Becoming a CFA Charterholder
Earning the CFA charter is a rigorous process involving specific educational achievements, successful completion of a comprehensive exam series, and relevant professional experience. Candidates must hold a bachelor’s degree or have two years remaining in their undergraduate studies to register for the Level I exam. Alternatively, 4,000 hours of professional work experience can also qualify an individual for the program.
The program consists of three sequential exams, each requiring an average of 300 hours of dedicated study. Level I focuses on foundational investment tools and ethical standards. Level II delves into asset valuation and application of concepts. Level III emphasizes portfolio management and wealth planning, including a constructive response section. Additionally, starting in 2025, candidates must complete Practical Skill Modules designed to build practical skills in areas like financial modeling. Most candidates take between four to five years to complete all three levels.
Beyond passing the exams, aspiring charterholders must accumulate 4,000 hours of relevant work experience in investment decision-making, completed over a minimum of 36 months. This experience can be gained before, during, or after participation in the CFA Program. Finally, candidates must become members of the CFA Institute and adhere to its Code of Ethics and Standards of Professional Conduct.