A professional qualification known as the “hardest exam in finance” is falling out of fashion, with new applicants for the chartered financial analyst programme running well below pre-pandemic levels for a third consecutive year.
Qualifying as a CFA, which requires about 1,000 hours of study, has long been considered essential for many careers in finance. But Margaret Franklin, head of the CFA Institute, which provides the qualification, said the coronavirus pandemic was continuing to drag down demand.
“Candidate numbers are lower than they have been, as a result of the pandemic. It has been more challenging as students want to be assured that they will be able to sit the exams,” she said.
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