Why Finance Majors at Utah State University Should Pursue the CFA Credential

In addition to the recognition that comes with the CFA, there are two reasons USU finance students should pursue membership; finance students have the advantage of USU and the CFA Institute (CFAI) working together, and increasing knowledge of capital markets.

First, USU finance students have a huge advantage due to university-industry cooperation (UIC); finance students at USU simultaneously work on their undergraduate requirements and the CFA curriculum. “The Huntsman School of Business is one of a select group of schools globally to be recognized by the CFAI for its work to prepare students to obtain the CFA designation, which has become the most respected and recognized investment credential in the world” (Jon M. Huntsman School of Business, 2014). Member universities must incorporate at least 70percent of the CFA Candidate Body of Knowledge (CBOK) into their finance curriculums. Furthermore, UIC allows students to receive scholarships to help reduce exam cost, which is currently $825 per person. The CFA charter is awarded to those individuals who pass three levels of comprehensive 6-hour exams.

Second, candidates gain valuable knowledge about capital markets and wealth management. Employers of investment firms know that CFA charterholders have the analytical skills required in today’s complex work environment. “Tertiary education plays an important role in ensuring the evolution and progress of human society (Akimov, Bianchi, Drew, 2013).” Additionally, these skills allow new employees to make an impact from day one.

In conclusion, the CFA designation gives individuals the opportunity to succeed. However, being a charterholder guarantees nothing, individuals must use the CFA credential as a tool to help advance their career.

References

Akimov, A., Bianchi, R., & Drew, M. (2013). Industry-academic partnerships in finance programmes. Cast of CFA-partnered programmes. Discussion papers in finance: Griffith University, Department of Accounting, Finance and Economics. https://www120.secure.griffith.edu.au/research/file/8fc9f6a1-0f69-4535-83b3-eb30b0842e71/1/2013-08-industry-academic-partnership-in-finance-programmes-case-of-cfa-partnered-programmes.pdf

Chartered Financial Analyst Institute. (2014). CFA Program. Retrieved from CFA Institute website https://www.cfainstitute.org/Pages/index.aspx

Jon M. Huntsman School of Business. (2014). Economics & Finance Department. Utah State University. Retrieved from USU website http://huntsman.usu.edu/economicsandfinance/htm/cfa

Characteristics of Professional Employees

All professional employees have two very important characteristics; these are ethical standards and loyalty.

First, business today requires professionals to have high ethical standards. The lack of ethical standards in business is a detriment to society. Nick Nichols (2007) ratifies my sentiment in Professional Ethics: The importance of teaching ethics to future professionals by discussing the significant role ethics has in future professional development of the U.S. Furthermore, ethical practices produce benefits in the long run, including properly managed conflicts of interest and increased corporate profits. Business success relies on using professional ethics (Nichols, Nichols, Nichols, 2007).

Second, professional employees exhibit strong loyalty, or commitment, to their organization. Companies want loyal employees; one measure of employee loyalty is organizational commitment (OC). A study published in the International Journal of Academic Research tested the effects of OC on job performance. The test analyzed the three dimensions of OC, affective, continuance, and normative commitment. Affective commitment yielded little impact on performance. However, results showed a significant positive relation between worker productivity and organization continuance commitment and normative commitment (Sirin, Bilir, Karademir, 2013).

 High ethical standards and strong loyalty are characteristics professional employees need to achieve success.

References

Nichols, N., Nichols Jr., G. V., & Nichols, P. A. (2007). Professional Ethics: The importance of teaching ethics to future professionals. Professional Safety, 52(7), 37-41.

Sirin, Y., Bilir, P., & Karademir, T. (2013). The effect of organizational commitment on job performance: The case of the kahramanmaras provincial directorate of youth services and sports. International Journal Of Academic Research, 5(4), 65-71. doi:10.7813/2075-4124.2013/5-4/B.9