Devoted to understanding the basics and fundamentals of investing

Devin tells his associates that he feels it is worth the effort for them to get their CFA charters.  He has not done it, and wonders from one who has if I think it was worth it.  Is he giving good advice?

Devin, I definitely feel getting the CFA designation is worth the effort.  I think you are giving excellent advice to your young associates.  I have a couple of reasons why.

First, in today's economy you are likely to have several jobs in your life time.  I feel you should always prepare for your next job.  Obtaining a Chartered Financial Analyst credential gives you great flexibility to find a new job.  It is highly valued by employers in the investment industry and gives you an edge when interviewing.  It is like getting an MBA in investing without the heavy cost of a university.

Second, those with a CFA charter earn significantly more in salary and bonuses than those who don't.  The difference is more than $20,000 per year at junior level positions.  Employers are willing to pay for the credential because they are assured of getting someone who adheres to a high ethical standard and someone with a firm foundation in investing theory and practice.  Also, they don't have to wait for the person to earn their NASDAQ investing licenses. 

So Devin, keep advising your crew to earn their CFA charter.  It is definitely worth the effort.