More and more people are studying for the CFA exam. Does it still hold the kudos it once did?

In 2007, over 58,000 people registered to take the CFA across the Asia Pacific region – a 33% growth rate year-on-year and about 38% of total registrations worldwide, compared to 30% three years ago. In Singapore alone, there were over 6,200 registrations for the 2007 exams, up 42% year-on-year.

As a result, there are currently almost 12,000 CFA charterholders in Asia Pacific, nearly 15% of the worldwide total, and about 2,200 in Singapore alone.

Has this massive growth devalued the status of CFA pass holders? The answer, according to headhunters, is no. Matthew Hoyle, Asia Pacific director at headhunter Matthew Hoyle International, says the CFA will still help you stand out: “It shows employers that you are committed, serious and possess solid technical knowledge.”

Hoyle says the CFA improves industry standards and ultimately makes candidates more attractive, but he adds that it definitely doesn’t have the same “exclusiveness” as in Europe. “It is not unusual for people in completely unrelated industries to take all three levels here, since they think it will get them a job in finance,” says Hoyle.

May Tung, lead consultant at search firm Russell Reynolds Associates, agrees that the CFA has not been devalued in Asia by the sheer numbers of people taking it. However, Hong Kong-based Tung says candidates need to take all three levels for it to really have an impact.

Hoyle confirms banks tend to look for people who have passed all three levels at the first attempt, but adds that even this is something that has become “extremely common” in recent years.

“You start to wonder when candidates who can barely speak English have taken and passed all three CFA levels. The coursework can be translated but the exams are still all in English,” says Hoyle.