Finance Certifications: Elevate Your Career in the Financial Sector

Finance certifications are an excellent way to grow a new or existing career in the financial sector. The finance industry is fast growing, with the US Bureau of Labor Statistics (BLS) estimating around 963,500 job openings in finance and business each year between 2023 to 2033 [1]. 

Several common and broadly applicable finance certifications can help you invest in yourself and your finance career. Explore six recognized credentials and get the details on the prerequisites, costs, and benefits of each so you can choose those that can help you meet your career goals. 

6 finance certifications to help boost your career

Finance certifications apply to a wide range of roles within the world of finance and can have benefits for your career, no matter your level. Some let you level up as a financial professional to improve your position, tackle more complex challenges, and advance your career. Other certifications allow you to build the crucial knowledge and skills you need to begin a lucrative career in the financial sector. 

Many employers rely on financial certifications to see potential employees’ skills and competencies, so finding a certification that shows the skills you need for your desired role is vital. 

*Note: All annual base salary data is sourced from Glassdoor as of February 2025 and does not include additional pay, such as commission and benefits.

1. Certified Financial Planner (CFP)

A Certified Financial Planner (CFP) certification demonstrates a broad range of financial competencies to potential employers. Through a CFP designation, you can show your skills in areas like investment planning, estate planning, retirement savings, and the psychology of financial planning. A CFP certification takes around 18 to 24 months to complete.

The Certified Financial Planner Board of Standards manages and oversees the certification process. The Board also provides career and study resources for prospective and current finance professionals. Beyond showing employers you’re competent in financial planning, having your CFP certification also enables you to earn more than non-certified planners—10 percent more than other financial planners, according to the CFP Board [2].  

With a CFP designation, you can typically qualify for various roles in finance with these average annual salaries:

• Financial analyst: $78,707

• Financial planner: $83,634

• Investment manager: $142,704

Prerequisites and requirements

To gain a CFP certification, you’ll need to: 

• Complete specific coursework in financial planning through a CFP Board Registered Education Program.

• Obtain a bachelor’s degree or higher in any discipline. 

• Pass the CFP exam, which consists of 170 multiple-choice questions in two three-hour sessions over the course of one day.

• Complete 6,000 hours of relevant work experience or 4,000 hours of apprenticeship experience (subject to additional requirements) either before or after the exam. 

• Pass a background check and sign an agreement to adhere to strict ethical standards. 

• Report continuing education credits every two years. 

Cost: $200 application fee and a $455 annual certification fee (prorated the first year) [3]

2. Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) designation is popular both on and off Wall Street as it proves “charterholders” have a wide range of financial analysis skills. By earning a CFA, you can show employers you have a deep understanding of crucial finance skills like investment analysis, asset valuation, portfolio management, and wealth planning. Additionally, you can stand out from other candidates by choosing a specialization within the exam, such as private wealth, portfolio management, or private markets. 

You must pass three levels/exams to become a CFA and each takes roughly 300 hours. So the road to becoming a CFA generally takes three to four years to complete. The CFA Institute, the organization that oversees the CFA certification, offers study and career resources to help potential Chartered Financial Analysts along the way.   

Common roles and average salaries for CFA holders include: 

• Investment banker: $177,845

• Portfolio manager: $95,775

• Credit analyst: $67,700

Prerequisites and requirements 

To gain a CFA certification, you’ll need to: 

• Pass the three CFA exams.

• Either hold a bachelor’s degree, be close to completing a degree, or have a combination of work experience and education totaling 4,000 hours.

• Have a valid passport.

• Apply for membership with the CFA Institute (requires an annual fee).

Cost: For the 2025 exam, the total cost is $3,070 to $3,970, depending on enrollment date, plus an additional one-time $350 enrollment fee [4]. Prices will increase slightly for the 2026 exam.

3. Certified Management Accountant (CMA)

The Certified Management Accountant (CMA) certification can be valuable if you love the intersection of business and finance. As a globally recognized certification in more than 150 countries, the CMA shows potential employers you have a mastery of internal controls, enterprise risk management, professional ethics, and cost management—all important skills for running the finances of a business of any size. 

The Institute of Management Accountants (IMA) handles the testing and certification for CMAs and has a wealth of resources to help you study for the exams, find a career, and network with other management accountants. 

With a CMA certification, you could land roles with titles and average salaries like: 

• Financial manager: $105,762

• Financial analyst: $78,707

• Staff accountant: $64,027

Prerequisites and requirements

If you want to become a CMA, you need to: 

• Become a member of the IMA

• Have a bachelor’s degree or higher, or a related professional certification. 

• Complete two continuous years of work experience in management accounting or financial management before or after your exams.

• Pass the two-part CMA exam.

• Report annual continuing education requirements. 

Cost: $495 per exam and an entrance fee of $300; students and academic members may receive a discount [5]

4. Certified Public Accountant (CPA)

When you become a Certified Public Accountant (CPA), you technically earn a license rather than a certification. Each state has a Board of Accountancy that controls and manages these licenses. A CPA license can open doors to a lucrative career in public accounting with a plethora of job openings. In recent years, employers and states have noted a shortage in CPAs, with some states even considering changing the requirements to make it easier to become a CPA. 

A CPA license shows employers you have a high level of competency in essential accounting areas, like taxation and regulation, auditing, and financial reporting.

Common jobs and average pay for CPAs include: 

• Auditor: $70,878

• Financial manager: $105,762

• Tax accountant: $78,995

Prerequisites and requirements

Since each state oversees its own CPA licensing, requirements can differ slightly. In California, for example, to become a CPA, you must: 

• Complete a bachelor’s or master’s degree totalling 150 semester units, including at least 24 semester units in both accounting and business-related courses.

• Pass all four sections of the CPA exam.

• Complete a minimum of 12 months of general accounting experience, some of which can come from academia

The additional courses in accounting and business typically require CPA candidates to enroll in an extra year of college or university to meet the credit requirements. 

Cost: Costs vary by state. In California, the CPA exams and licensing costs include a $100 application fee, $1,050.56 total for the four exams [6], $250 to apply for your license, and $340 for your initial license [7].

5. Financial Risk Manager (FRM)

Earning a Financial Risk Manager (FRM) certification typically takes around 240 hours of study time, but those hours can pay off. An FRM shows employers you have in-depth knowledge of operational risk, financial markets, quantitative analysis, and the foundations of risk management. 

The Global Association of Risk Professionals, or GARP, manages the FRM certification and provides study materials to help you prepare for the exams. 

Professionals with an FRM certification often have jobs and salaries like: 

• Risk analyst: $85,408

• Risk manager: $105,153

• Compliance officer: $111,136

Prerequisites and requirements

To get an FRM certification, you’ll need to: 

• Pass two multiple choice exams.

• Complete two years of full-time relevant work experience.

• Report around 40 hours of continuing education and professional development every two years.

Cost: $600 to $800, depending on when you register, plus a one-time $400 enrollment fee [8]

6. Chartered Financial Consultant (ChFC)

The Chartered Financial Consultant (ChFC) certification slightly differs from others, as it involves a series of eight courses rather than a few exams. The ChFC also doesn’t require a bachelor’s degree to enroll, so it can be a great option if you’re relatively new to finance and want to learn as you gain a certification. 

The American College of Financial Services oversees the ChFC course and certification, and it typically takes less than 18 months to finish the program. Once certified, you should be able to demonstrate strong skills in areas like financial planning, income taxes, estate planning, and investments. Additionally, earning a ChFC qualifies you to sit for the CFP exam, making it easy to earn two designations in a fairly short time frame. 

With a ChFC, you may qualify for roles like:

• Financial planner: $83,634

• Investment manager: $142,704

• Financial analyst: $78,707

Prerequisites and requirements

To start the ChFC course and earn the certification, you need to: 

• Have a high school diploma or equivalent.

• Complete three years of relevant work experience in financial planning to use the designation.

• Finish all eight courses and examinations. 

• Report biannual continuing education credits. 

Cost: $6,395 if you pay for it as an eight-course bundle; prices vary when paying on a course-by-course basis [9]

How to pursue a career in finance: first steps

Many finance certifications require some combination of education and experience in finance, so taking finance-related classes is a good first step. Another way to begin building your resume in the finance field is through entry-level finance jobs. From financial analysis to insurance, the financial sector has a wide range of roles available to newcomers. 

Build knowledge and skills to prepare for finance certifications 

Finance professional certifications show employers that you have the knowledge and skills to get the job done. Ready to start growing your career in finance? With the Intuit Academy Bookkeeping Professional Certificate on Coursera, you can learn the basics of accounting, unlock your passion for finance, and explore some of the different pathways a career in finance can take you.