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You might be asking yourself if the CFA charter is worth it because you heard the CFA Program is expensive and it takes a long time to become a CFA charterholder. Or perhaps you’re considering switching careers and looking for information about what you’d be getting yourself into.

In this blog, we provide the necessary context to help you decide if the CFA is right for you. Our goal is to help you set expectations about the outcomes for CFA charterholders and provide you with options in case you decide that the CFA charter is not right for you at this time.

Factors To Consider If The CFA Is Worth It

Typically, the CFA Program is finished by people with backgrounds in finance, accounting, economics, or business. Having a financial background is not necessary to pursue the CFA charter; however, you will need 4,000 hours of “professional work experience” completed in a minimum of 36 months in areas like trading, corporate finance, and economics to become a CFA Charterholder.

Each person will have their own set of personal factors to consider when deciding if the CFA charter is right for them. Information about those factors usually requires more context than what is provided in CFA FAQ’s

Career Goals

Upfront, you should understand that the CFA charter can indeed help you in your career, but it’s not the silver bullet for success. You are the secret to your success, and the CFA charter is just one part of that.

We’ve learned an important fact: Charterholders who landed new finance jobs or moved up in their organizations applied passion, dedication, determination, and other common CFA traits to their job search or upward career move. In other words, they didn’t stop working hard after they passed the CFA exams. They also did not set the bar too high in their job search or in their desire for a better position. Instead, they did their homework on the types of jobs where a CFA charter is more likely to be respected and designed a long-term plan for working hard and moving into management.

For example, if you are a student you could use your journey through the CFA Program to get an internship or an entry-level position to start gaining the experience needed to officially become a CFA charterholder

If you’re already working in the financial industry, we’ve seen success come to those who applied for positions or promotions where the charter is seen as advantageous. According to CFA Institute, 22% of CFA charterholders are employed as portfolio managers.

Again, you are the secret to your success. Other things you can do to help your career are:

• Leveraging personal contacts
• Joining a CFA society
• Network on social media
• Attend events related to your career aspirations to meet possible employers
• Sharpen your presentation skills
• Practice interviewing
• Try not to get discouraged along the way

Finding the Time to Pursue the CFA

Honestly thinking about how much free time you have to dedicate to the CFA Program should be a priority for you. Some important information to consider if you don’t have lots of free time should be:

• CFA Level I exams are usually only offered four times per year
• You can only take an exam twice per calendar year
• You can’t fail the Level I exam and then re-enroll into the next immediate exam window
• Average CFA candidates can spend more than 300 hours studying for each CFA exam
• You should expect to spend three to four years completing the CFA program.

Salary Expectations

Determining how much money you can expect to earn after passing all three CFA exams is difficult to determine. If you earn the CFA designation as a mid-level analyst, it’s fair to expect a 15-20% increase in salary. In reality, the CFA designation seems to provide more experienced analysts and managers with a larger salary increase. Again there are many factors that determine salary increases but one thing for sure is that the CFA designation is seen as valuable, especially for candidates in senior roles like risk, investment, and portfolio managers.

For example, if your end goal is to become a portfolio manager at a top firm, the CFA Institute determined in a 2019 compensation studythat US$177,000 was a typical total compensation amount.

According to the U.S Bureau of Labor Statistics, the annual median pay for financial analysts in the U.S is 83,660 USD according to Glassdoor.

Finance professionals who are active CFA charterholder can be rewarded with significant earning benefits such as:
• Performance-based bonuses
• Access to high-net-worth clients
• Consulting and advisory roles
• Opportunities in alternative investments
• Entrepreneurial pursuits

Ready to Begin Your CFA Journey?

If you are interested in joining hands with a leading CFA tuition provider to help make your CFA journey easier, then Kaplan Professional Middle East is here to offer you the expertise of having helped students to successfully ace their CFA exams for several years with the industry’s leading trainers, world-class support, CFA’s most trusted study materials – Kaplan Schweser, and digital solutions. If you are looking for CFA training, join us as a student to kickstart your CFA exam preparation.

The finance and accounting world is highly competitive, and professionals in this field are constantly looking for ways to differentiate themselves. Two popular certifications that many individuals pursue are the Association of Chartered Certified Accountants (ACCA) and the Certified Public Accountant (CPA). While both certifications can open doors for career growth and advancement, there are some key differences between them.

This blog will discuss the fundamental differences between ACCA and CPA certifications. We will explore the requirements, areas of focus, and career opportunities associated with each certification.

What is ACCA?

ACCA stands for Association of Chartered Certified Accountants. It is a globally recognized accounting qualification focusing on international accounting standards and principles. ACCA is headquartered in London and was founded in 1904. It has over 227,000 members and 544,000 students across the world. ACCA offers a comprehensive curriculum covering various accounting areas, including financial accounting, management accounting, taxation, audit and assurance, corporate law, and ethics.

The program also emphasizes developing critical thinking, problem-solving, and communication skills. To become an ACCA member, candidates must complete 13 exams, have three years of practical experience, and fulfill the ethics and professional skills requirement.

What is CPA?

CPA stands for Certified Public Accountant. It is a prestigious certification offered by the American Institute of Certified Public Accountants (AICPA). Established in 1887, AICPA has over 431,000 members in the United States. CPA is a state-specific certification, and its requirements vary from state to state. However, most states require candidates to have a bachelor’s degree in accounting or related fields, complete 150 credit hours of education, and pass the Uniform CPA Exam.

The CPA curriculum covers financial accounting, managerial accounting, auditing, taxation, and law. The program also focuses on developing critical thinking, analytical reasoning, and ethical behavior skills. To maintain the CPA certification, ongoing continuing education is required.

ACCA vs CPA

While both ACCA and CPA are highly recognized certifications in the field of accounting, there are some key differences between them.

• Global recognition: ACCA is a globally recognized certification, while CPA is primarily recognized in the United States. This means an ACCA member can work in any country where the qualification is recognized. At the same time, a CPA may have to go through additional education and examination to practice outside of the US.
• Education requirements: To become an ACCA member, candidates must complete 13 exams and fulfill the ethics and professional skills requirements. On the other hand, CPA candidates must have a bachelor’s degree in accounting or related fields, complete 150 credit hours of education, and pass the Uniform CPA Exam.
• Exam structure: The ACCA exam is divided into two levels: Fundamentals and Professional. The Fundamentals level has nine exams, while the Professional level has three exams. On the other hand, the CPA exam consists of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Each section is a standalone exam, but candidates must pass all four sections to become CPA-certified.
• Areas of focus: While both certifications cover similar topics, such as accounting, auditing, and taxation, the CPA program has a wider range of subjects, including business law and ethics. This makes CPA candidates well-rounded professionals with a broader understanding of the business world.
• Career opportunities: ACCA members have a global advantage as their qualification is recognized in over 180 countries. They can work in various roles such as financial controller, auditor, and business analyst in different industries like banking, consulting, and government agencies. On the other hand, CPAs are highly sought after for positions such as public accountant, tax consultant, and internal auditor.

In short, both the ACCA and CPA certifications offer excellent career opportunities in the accounting and finance field. Depending on your career goals and interests, you can choose between these two prestigious qualifications to advance your professional growth.

Kaplan Professional ME’s ACCA Training Program

At Kaplan Professional ME, we offer comprehensive training programs for aspiring ACCA professionals. Our program are designed to equip our students with the requisite knowledge to pass their ACCA exams and instill a deep understanding of global and local accounting principles.

Our ACCA-certified trainers, experts in various papers, have guided numerous candidates to regional accolades. With rich training and industry backgrounds, they provide tailored guidance and support. Students can access online learning resources and bite-sized tutor-led videos, and also learn to solve complex exam questions through dedicated sessions.

Learn more.

CIPD’s influence on HR and L&D best practices resonates globally, including within the vibrant landscape of the United Arab Emirates (UAE). The Chartered Institute of Personnel and Development (CIPD) has been instrumental in setting and elevating industry standards in this region through its comprehensive courses and certifications.

CIPD Courses in the UAE: Elevating Professional Standards

The UAE’s competitive business environment, characterised by its dynamic growth and diverse workforce, has seen an increased emphasis on HR and leadership and development strategies. CIPD’s presence in the UAE through its accredited courses has been pivotal in enhancing the capabilities of professionals within different industries and sectors. Professionals seeking to strengthen their careers in HR or L&D in the UAE can pursue CIPD qualifications tailored to meet the region’s specific industry needs.

Advantages of CIPD Qualification and Certification

Attaining a CIPD qualification stands as a valuable recognition for an individual’s expertise in HR and L&D. The certification process encompasses rigorous training, examinations, and practical assessments, ensuring that professionals are equipped with the knowledge and skills necessary to handle and manage the complexities of modern workplace environment and teams.

CIPD’s influence extends beyond individual certification. It actively shapes industry best practices through collaborations, research initiatives, and ongoing dialogue with HR and L&D leaders in the UAE. By staying well-informed of emerging trends, technological advancements, and the evolving needs of the workforce, CIPD consistently updates its curriculum to ensure relevance and applicability.

The institute’s emphasis on ethical conduct, diversity, and inclusion serves as a benchmark for companies aspiring to create inclusive workplaces in the UAE. CIPD’s impact on HR and L&D practices in the UAE reflects a commitment to excellence and continuous improvement. Its courses, qualifications, and influence on industry standards collectively contribute to shaping a professional landscape that values expertise, innovation, and ethical conduct.

The qualification serves as a gateway to a world of professional opportunities. Once completing your CIPD certification course and qualifications, you will have the privilege to be given with either Foundation or Associate Membership recognised globally which offer myriads of benefits and support. With continuous growth both in knowledge and professional experience, the Chartered Membership or Chartered Fellowship can also be your next career step.

As the UAE’s business environment continues to evolve, CIPD will be a reliable driver of professional standards, nurturing a skilled workforce prepared for the market changes in the future.

CIPD LEVEL 3 Foundation Certification Courses

Kaplan Professional Middle East is one the leading individual and corporate training companies in the UAE and MENA region and is an approved provider of CIPD qualification. Kaplan Professional has added CIPD level 3 foundation certificate to its list of offered programs. Professionals who are seeking to acquire this certification have options to attend in-person or online classes with the support of CIPD-approved trainers and a comprehensive learning approach.

For professionals, the mantra for success in 2024 revolves around adaptability and continuous growth. The accelerating pace of technological advancements and industry transformations demands a proactive approach towards upskilling and reskilling.

Embracing Career Agility

Professionals at all levels must possess a diverse skill set to pivot swiftly between roles and industries. Upskilling serves as a gateway to unlocking new opportunities, allowing them remain relevant in a competitive job market.

Harnessing Technological Advancements

 Technology is the heartbeat of innovation, driving industries forward. Professionals need to be tech-savvy and adaptable to new tools and platforms. Upskilling in areas like data analytics, cybersecurity, and AI empowers them to harness these advancements, amplifying their career prospects.

Reskilling for Career Reinvention

The ability to reskill is a superpower for professionals at all career levels to stay ahead of the curve. It enables them to pivot their careers, explore new domains, or upscale their current roles. This flexibility not only ensures career sustainability but also opens doors to exciting opportunities in emerging fields.

Enhancing Personal Development  

Upskilling also contributes immensely to personal growth and development. It expands one’s knowledge base, fosters intellectual curiosity, and promotes self-confidence. This self-improvement often extends beyond the professional sphere, enhancing interpersonal relationships and overall life satisfaction.

Increasing Employability

A professional’s employability can significantly increase through upskilling. Possessing a diverse set of skills demonstrates adaptability, a keenness to learn, and a proactive attitude, all of which are highly valued in today’s job market. This could lead to better job opportunities, promotions, or even a higher salary.

In the vibrant professional landscape of 2024, upskilling isn’t a mere choice but a strategic move for professionals to future-proof their careers. Kaplan stands as a partner in this journey, offering tailored programs that empower minds, fuel their ambitions, and align with the ever-evolving demands of the job market.

Kaplan Offers a Range of Programs for Professionals

At Kaplan, we understand that learning is a lifelong journey that does not discriminate based on age or career stage. Our mission is to empower every professional with the chance to stay abreast of industry transformations, be they a young professional, a mid-level manager, or a seasoned executive. We offer various programs in finance, accounting, human resources, leadership and behavioural and digital transformation among others.

By investing in upskilling and leveraging Kaplan’s expertly curated programs, professionals at all levels equip themselves with the tools to navigate the complexities of the modern workplace, unlocking a world of opportunities for their career growth and success.

Clients often ask; what is the impact of Coaching on our leadership team? How can it help our leaders? Does it help our leaders become more effective at what they do? And if so, how or in what ways?

Before answering these questions, we should start by looking at each word and briefly outlining what we mean when we say Leadership, and what we mean when we say Coaching.

Leadership is an evolving journey that requires constant growth, adaptation, and self-reflection. While experience and technical skills are essential for any leader, however, it is the ability to connect with and inspire others that truly defines exceptional leadership. That’s where coaching comes in!

As for Coaching, it’s not just a tool it’s a transformative process that empowers leaders to reach new heights, unleash their full potential, and achieve extraordinary results. Coaching aims to cultivate a unique partnership between coach and leader, creating a safe and supportive environment for self-discovery, introspection, and personal development.

So, how does Coaching improve Leadership? Here are some of the key areas of leadership and the role or impact of coaching in each.

1. Self-Awareness: Coaching allows leaders to gain deep insights into their strengths, weaknesses, and most importantly; their blind spots. By raising self-awareness, leaders can identify their default behaviors, thought patterns, and beliefs that might be limiting their growth. In today’s world, self-awareness is the foundation for personal and professional development.

2. Emotional Intelligence: The best and most effective leaders go beyond technical competence, stepping space of influence and relationship building. And this, requires emotional intelligence—understanding and managing one’s emotions and effectively relating to others. Coaching helps leaders develop their emotional intelligence, enabling them to navigate complex interpersonal dynamics, inspire their teams, and create a positive work culture.

3. Empowering Mindset: Coaching encourages leaders to adopt a growth mindset, embracing challenges as opportunities for learning and development. It helps leaders overcome self-limiting beliefs and replace them with empowering thoughts and beliefs that fuel innovation, resilience, and adaptability.

4. Enhanced Communication: Effective communication is key to positive relationships and in building trust. We don’t only get stuck in our thinking patterns, but also in what we communicate, and how. Coaching helps leaders equip themsleves with powerful communication tools, enabling them to listen actively, ask insightful questions, be more assertive, and provide constructive feedback, allowing for more range and agility.

5. Goal Alignment & Accountability: Coaching supports leaders in setting meaningful goals, aligning them with their organization’s vision, and developing actionable strategies to achieve them. Coaches also serve as accountability partners, ensuring leaders stay focused, motivated, and committed to their objectives.

The benefits of coaching extend beyond the individual leader—it creates a ripple effect throughout the organization. Leaders who embrace coaching inspire and empower their teams, fostering a culture of growth, innovation, and continuous improvement. They become catalysts for positive change, driving organizational success.

According to a study by the Middle East Leadership Initiative, 80% of the executives surveyed who received coaching reported that it had a positive impact on their leadership skills, and 96% said they would recommend coaching to their colleagues.

With all of our clients we continue to witness firsthand how coaching helps unlock untapped potential and propels leaders to surpass their own expectations.If you’re ready to elevate your leadership effectiveness and make a lasting impact, embark on a transformative journey with coaching. It’s a win-win-win for you, your team, and your organization.

To learn more about our coaching programs contact us at info@kaplanme.com