CFA Benefits

Pros- highly marketable professional designation, pay increases, essentially a Masters in Finance. Relatively cost efficient when comparing the total cost to become a charter holder vs. getting Masters.

Cons- you have to sell your soul for 3-5 years.

It's certainly more valuable than a Masters is and from a cost/benefit standpoint likely the best thing you can do to improve your future income.

That said, it's extremely difficult to pass all 3(check out the pass rates) and varies in value depending on what part of the industry you are in. I know a few people in commercial lending who have done it and tell me it is less respected there than it would be if you were a buy-side analyst or trader.

Do some research and make the decision for yourself, I'm studying for Level 2 and already seeing some career benefits.

It depends on the type of commercial banking. There have been certain groups that loved it and some groups where it was an anchor around my neck because people thought it made me overqualified.

It's a great certification to have in the long run, but be prepared for having a lot of your bosses think that you are planning your exit.

As far as relevance, it is a lot more than you will need in commercial lending, but it will make you very impressive in your conversations with the higher ups.

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Oh...and don't buy the "sell your soul" stuff. If you are reasonably intelligent you can fit it (study requirements) into your life - you just need to be disciplined and not blow it off.

Sell your soul depends on your job.

If you are working 60 hours per week before studying, it is going to eat your soul.

In a 40 hour a week job, it's manageable, but still a large commitment.