Ever wondered how financial experts make sense of complex markets, predict economic trends, and manage investments effectively? Welcome to the world of the CFA program, where professionals gain the skills and knowledge needed to navigate the intricacies of finance.
But, before you set sail on this exciting journey, have you considered the financial commitment it entails?
Navigating the CFA program comes with not only academic challenges but also financial considerations.
Fees for CFA Course
Embarking on the journey to become a Chartered Financial Analyst (CFA) comes with both the need for time and effort, as well as a financial commitment. To plan and prepare effectively, it’s important to understand the fees associated with the CFA course.
Mandatory Costs for the CFA Program
To successfully navigate the CFA examination, you must adhere to three compulsory fee categories:
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Initial CFA Enrollment Charge
This serves as a one-time enrollment expense of US$350 applicable during the initiation of the Level I examination. No additional payments are necessary for subsequent levels or retakes. The enrollment fee remains unchanged even if you need to retake any level.
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CFA Registration Fees
Applicable across all three levels, the CFA registration fee is contingent on the timing of your commitment to the exam. To avail of an early discount, it is imperative to register months ahead of the exam date.
CFA Early Registration Fee: US$940
Standard Application Fee: US$1,250
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Curriculum Expenses
The exam fee encompasses the cost of e-books. However, if digital formats are not to your preference, a printed version of the CFA curriculum is available for purchase.
Also Read – What Salaries Can You Expect In India As a CFA?
CFA Level 1 Exam Fees 2024
| Particulars | Fees |
| CFA Level 1 Enrollment Fee | US$350 |
| Early Registration Fee | US$940 |
| Standard Registration Fee | US$1250 |
| Rescheduling Fee | US$250 |
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| Registration Type | Enrollment Fee | CFA Level 1 Fee | Total Fee |
| Early | US$350 | US$940 | US$1,290 |
| Regular | US$350 | US$1,250 | US$1,600 |
Fees for Rescheduling CFA Level 1 Exam Dates
The Institute of Chartered Financial Analysts imposes no charges for initially setting up the CFA exam schedule. However, should candidates opt to adjust their exam date after the scheduling period concludes, they are obligated to cover the associated rescheduling costs. Therefore, the fees for rescheduling the CFA Level 1 exam amount to US$250.
2024 Deadlines for CFA Level 1 Fees
Enrolling in CFA Level 1 encompasses various facets, including early registration, standard registration, scheduling, and, when needed, rescheduling. Each phase within the registration procedure has its respective deadlines. Refer to the provided table for insights into the ongoing occurrences related to CFA Level 1 exams in 2024.
CFA Level 1 Exam Date 2024
| Events | Fees | May 2024 | August 2024 | November 2024 |
| Enrollment Fee | US$350 | |||
| Early Registration | US$940 | CLOSED | CLOSED | April 16, 2024 |
| Standard Registration | US$1250 | February 6, 2024 | May 14, 2024 | August 7, 2024 |
| Scheduling | – | CLOSED | February 14, 2024 | May 21, 2024 |
| Rescheduling | US$250 | April 15, 2024 | July 21, 2024 | October 14, 2024 |
CFA Level 1 Scholarship Categories
| Category | Eligibility | Reduced Registration Fee |
| Access Scholarship | Intended for individuals with financial constraints | US$250 |
| Women’s Scholarship | Aimed at women interested in the program | US$350 |
| Student Scholarship | Designed for current students at affiliated colleges | US$350 |
| Professor Scholarship | Available to full-time college professors or administrators | US$350 |
| Regulator Scholarship | Intended for employees of central banks, stock exchanges, etc. | US$350 |
Check your eligibility for specific scholarships here.
Also Read – CFA Scholarship – Are you eligible for it?
CFA Level 2 Exam Fees 2024
| Particulars | Fees |
| CFA Level 2 Enrollment Fee | US$350 (One-time payment in CFA level 1 only) |
| Early Fee for Registration | US$940 |
| Standard Fee for Registration | US$1250 |
| Scheduling Fee for Exam | US$250 |
| Registration Type | CFA Level 2 Fees |
| Early | US$940 |
| Regular | US$1,250 |
The cost is identical to Level 1, excluding the requirement for the one-time enrollment fee.
Get CFA 200Hrs+ Offline Coaching in your city for each level + Placement Support.
Rescheduling Fees for CFA Level 2 in 2024
Notably, candidates may not incur an extra charge when rescheduling their CFA Level 2 exam before the scheduling cutoff. Nevertheless, should any examinee opt to alter the examination date to an alternative day within the identical test session, a rescheduling fee will be remitted.
CFA Level 2 Exam Date 2024
| Exam Timeline Events | May 2024 | August 2024 | November 2024 |
| Commencement of Registration Period | CLOSED | November 14, 2023 | February 8, 2024 |
| Opening of Scheduling Window | CLOSED | November 14, 2023 | February 8, 2024 |
| Deadline for Early Registration | CLOSED | January 23, 2024 | April 16, 2024 |
| Closing of Registration | February 6, 2024 | May 14, 2024 | August 7, 2024 |
| Final Date for Scheduling | February 14, 2024 | May 21, 2024 | August 13, 2024 |
| Rescheduling Cut-off | April 22, 2024 | July 29, 2024 | October 17, 2024 |
| CFA Exam Period | May 22-26, 2024 | August 27-21, 2024 | November 20-24, 2024 |
CFA Level 2 Scholarship Categories
Provided in a structured format is a compilation of grants accessible for scrutiny by applicants intending to complete the CFA level 2 enrollment documentation.
| Categories of CFA Scholarships | Eligible Recipients | Reduced Registration Fee |
| Access Scholarship | Individuals facing financial constraints for CFA Level 2 program fees | US$250 |
| Student Scholarship | Enrolled students in affiliated universities | US$350 |
| Professor Scholarship | Full-time professors or university administrators/department heads | US$350 |
| Women’s Scholarship | Women with interest in the CFA course lacking other Institute grants | US$350 |
| Regulator Scholarship | Employees in qualifying stock exchanges, SROs, government entities, securities commissions, central banks, financial regulators | US$350 |
Check your eligibility for specific scholarships here.
Payment Methods for CFA Level 2 Fees in 2024
For the 2024 CFA Level 2 exams, payment of fees is required in US dollars (USD). Once the 2024 CFA Level 2 fee is settled, candidates will receive an email confirmation on their registered IDs. The CFA Institute accepts various payment methods, including:
- Credit cards
- Alipay*
- Personal, corporate, or bank checks
- Money Orders/ Postal Orders
- ACH / Wire transfer
For candidates residing in India, the CFA Institute has collaborated with Eduvanz, an education loan provider, to facilitate Equated Monthly Installment (EMI) options. To opt for this, select “Pay by Invoice” as your payment method during checkout and provide your invoice along with the EMI payment method.*
*Candidates choosing credit card and Alipay options should select the “Pay By Invoice” option during checkout.
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Retest Fees for CFA Level 2
If candidates who did not clear the CFA Level 2 exam on their first attempt, have the option to reappear in the exam. For each retake of the CFA Level 2 exam, an additional standard registration fee of USD 1,250 is applicable.
CFA Level 3 Exam Fees 2024
| Type of Registration | Feb 2024 | August 2024 |
| Window | CLOSED | CLOSED |
| Registration Fees | – | – |
| Early Registration Due Date | – | January 23, 2024 |
| Standard Registration Due Date | – | May 14, 2024 |
| Fees | US$940 | US$1250 |
CFA Level 3 Exam Date 2024
| CFA Level 3 Exam Schedule | February 2024 | August 2024 |
| Registration Commencement | CLOSED | November 14, 2023 |
| Opening of Scheduling Window | CLOSED | November 14, 2023 |
| Early Registration Deadline | CLOSED | January 23, 2024 |
| Final Registration Date | CLOSED | May 14, 2024 |
| Closure of Scheduling Window | CLOSED | May 21, 2024 |
| Rescheduling Cut-off | January 17, 2024 | July 17, 2024 |
| CFA Exam Period | February 15-18, 2024 | August 16-19, 2024 |
Eligibility and Enrollment for CFA Level 3 in 2024
Candidates must have a bachelor’s degree, be a final-year student, or possess approximately 4,000 hours of professional work experience. Level 3 registration, excluding the one-time fee, mirrors Levels 1 and 2. Proficiency in English is crucial, and registration follows Level 1 and Level 2 processes.
Key Points:
- Clear CFA Level 1 and Level 2 exams.
- Ensure details for your CFA Institute account.
- Make required payments within the chosen window.
- Acknowledge the ‘Candidate Agreement’ and submit the Professional Conduct Statement.
Upon meeting eligibility, registration aligns with Levels 1 and 2, including scheduling deadlines. Rescheduling deadlines for Levels 2 and 3 are slightly extended compared to Level 1.
Scheduling and Rescheduling Your CFA Level 3 Examination
Differing from Level 1, the CFA Level 3 exam provides a more extended period for rescheduling, accompanied by an additional fee of US$250 for each rescheduled instance. The entire process is facilitated through a specialized platform known as ProScheduler.
It is essential to recognize that the examination registration entails a two-step procedure. Initially, you must complete the registration, followed by scheduling your specific appointment. Within the registration process, you will encounter choices for test centers among 400 global locations, each with confirmed available seating. If your preferred location is not initially listed, persist in checking, as the CFA Institute regularly updates appointment availability.
Locations of Examination Centers
CFA examinations are conducted in over 400 locations globally. Candidates will encounter options for test centers during the scheduling phase, ensuring confirmed availability of seating. Emphasizing that the registration process involves two steps – registration and subsequent scheduling of the exam date and location. If your preferred location is not visible initially, continue checking back, as the CFA Institute consistently updates these details.
For a more comprehensive understanding of exam center locations, CFA Institute’s exam center location guide offers assistance in navigating any potential confusion.
Post-Registration Procedures for CFA Level 3
Following the completion of registration for CFA Level 3 examinations, The Institute of Chartered Financial Analysts will unveil the CFA Level 3 admission ticket for 2024 via online channels. Before participating in the CFA Level 3 exam, all candidates must download their respective admit cards. Individuals residing in areas with no network access or facing challenges in downloading their admit cards have the option to request a fax copy from the institute.
The ROI on Clearing the CFA Exams
CFA Charterholders typically experience a 53% boost in their average salary, even when factoring in their work experience.
Undertaking the CFA exams can yield financial benefits, and one need not wait until achieving the CFA Charterholder status.
In a most recent analysis of CFA salary data, we have excluded the impact of “work experience/seniority” on the average total compensation to more accurately gauge the actual influence of the CFA Program on average pay.
Upon mitigating the influence of work experience, the findings reveal that on average:
- CFA candidates who successfully passed Level 2 observed a 34% rise in total compensation.
- CFA candidates who cleared Level 3 or became Charterholders earned 53% more than individuals who had not yet passed the CFA Level 1 exam.
- Notably, there is a significant 28% surge in total compensation for CFA candidates who only pass Level 1 in 2022, a substantial increase from the 2021 data indicating just a 16% increment. This may suggest an earlier payoff for those completing the CFA program.
CFA Coaching Fees in 2024
| S.No. | Coaching Centre Name | CFA Coaching Fee |
| 1 | IMS ProSchool – Offline Coaching | INR 40,000 to INR 80,000 |
| 2 | QuintEdge | INR 22,000 |
| 3 | Edu Pristine | INR 1,00,000 |
| 4 | Unacademy | INR 736 – 1,389/month |
| 5 | Udemy | INR 1,000 |
| 6 | Coursera | INR 1,000 |
Want to know where Proschool CFA Coaching Institutes are located?
Cost of CFA Study Materials
The expenses associated with CFA study materials involve two considerations, contingent upon whether you rely on the CFA curriculum or opt for third-party study materials as your primary learning resource:
Physical CFA Curriculum Books (additional US$250 per Level): The default CFA registration fees include access to the e-book version of the curriculum. However, if you prefer hard copies of the CFA curriculum books, an extra cost of US$250 (plus any applicable shipping fees) per Level is incurred. For those residing outside the USA, there is a likelihood of incurring import duties and/or customs fees upon delivery.
Third-Party Study Materials (US$99-US$1,299 per Level): While studying exclusively from the CFA curriculum is entirely feasible, some candidates may choose to invest a bit more in more concise third-party study materials to optimize their time. The associated cost varies based on the package type and preparation provider selected for each level of the CFA exam. In a subsequent section, more detailed guidance on typical and essential expenditures will be provided given the broad spectrum of available options.
| Study Material Cost, per CFA Level (US$) | Study Notes Only | Self Study* | Premium (Online) + Review Course* | Premium (Classroom) + Review Course* |
| Kaplan Schweser | US$399 | US$699 | US$999 | US$1,299 |
| UWorld | – | US$199-299 | – | – |
| Salt Solution | – | US$599 | – | – |
| Cost Range (US$) | US$99-399 | US$199 – US$699 | US$575 – US$1,199 | US$1,299 |
*Note: The cost ranges represent variations depending on the specific study package selected.
Budgeting and Financial Planning for CFA Aspirants
Balancing Financial Commitment with Other Responsibilities
Effectively managing financial commitments while juggling work or other responsibilities is crucial for CFA aspirants. Striking a balance requires careful consideration and planning to ensure financial stability throughout the CFA journey.
Exploring Financial Aid or Scholarship Opportunities
To alleviate financial burdens, aspiring CFA candidates should actively explore potential avenues for financial aid or scholarships. Identifying and applying for available opportunities can significantly contribute to managing the overall cost of pursuing the CFA designation.
Also Read – Can I go abroad after completing CFA® Program ?
Changes in CFA Fees Structure 2024
Commencing with the upcoming 2023 exam cycle, there was a reduction in the one-time enrollment fee from US$450 to US$350. Simultaneously, the registration fees for individual exams had increased, shifting from US$700 to US$940 for early registration and from US$1,000 to US$1,250 for standard registration.
The standard registration period extends from October 13, 2023, to February 6, 2024, at 11:59 p.m. ET, covering registrations for both Level I and Level II exams.
Tips for CFA Exam Preparation
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Cost-Effective Study Materials and Resources
Optimizing costs during CFA exam preparation involves seeking affordable study materials and resources. Utilizing cost-effective options without compromising quality is essential for a well-rounded and budget-conscious study approach.
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Strategies for Exam Preparation Optimization
Maximizing exam preparation efficiency without sacrificing quality is a key consideration for CFA candidates. Implementing strategic study plans and leveraging effective learning methods can enhance preparation outcomes while keeping costs in check.
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Realistic Expense Management Approaches
Balancing expenses while pursuing the CFA designation requires a realistic and pragmatic approach. Identifying and implementing cost-saving measures without compromising the quality of education ensures a financially sustainable journey toward CFA success.
Also Read – 5 Tips on passing CFA Level 1 with ease
FAQs
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How much does it cost to register for each level of the CFA exam?
The CFA Program exam registration fee is US$940 for early registration and US$1,250 for standard registration, with a one-time enrollment fee of US$350.
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Are there any additional costs associated with the CFA Level 2 exam compared to Level 1?
Yes, candidates may incur additional costs for study materials, rescheduling fees, and potential travel expenses for the CFA Level 2 exam.
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What factors should candidates consider when budgeting for CFA coaching fees?
Candidates should consider the cost of study materials, coaching fees, potential travel expenses, and any supplementary resources when budgeting for CFA coaching.
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Are there financial aid options available for CFA aspirants?
Yes, the CFA Institute offers scholarships, including Access Scholarships and Women’s Scholarships, to provide financial aid to eligible candidates.
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How often does the CFA fee structure change, and how can candidates stay informed?
The CFA fee structure can change in the future. Candidates should stay informed by regularly checking the official CFA Institute website for updates and announcements.
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