Thousands of young Wall Streeters are about to get their results from one of the toughest exams in the world
- The results of the Chartered Financial Analyst exams for 2018 will be released on Tuesday.
- Students who sat for levels I and II of the CFA exam in June 2018 will be able to find out their fates at 9 a.m. ET (2 p.m. BST).
- Last year, just 43% of candidates passed Level I, while 47% passed Level II.
- Pass percentages will not be made public until August 28, when Level III results will also be released.
- The CFA is regarded as one of the most grueling exams in finance.
In June 2018, after countless hours of study, lots of late nights, and gallons of coffee, more than 100,000 aspiring financial analysts around the world sat for the notorious Chartered Financial Analyst (CFA) exam.
The exam, which asks candidates questions on everything from financial modeling to the ethics of business, is considered to be one of the most grueling tests in the world, with less than 50% of people passing each year.
It is split into three levels - I, II, and III - and on Tuesday, candidates who sat for Levels I and II back in June will find out their fates.
Students who took Levels I and II in 2018 will have access to their results beginning at 9 a.m. ET (2 p.m. BST). The CFA Institute, which administers the exams, will give students around the world access to their results at the same time.
"Each candidate who sits for a CFA Program exam is provided with a "pass" or "did not pass" exam result as well as detailed information on their performance," the CFA Institute said on its website.
Generally speaking, pass rates increase on each ascending level, with Level I tending to flush out underprepared candidates.
Only about one in five people who start the CFA program make it through all three levels and successfully complete the other requirements to become a charter-holder.
While students of Levels I and II will find out how they did on Tuesday, details of the exam's pass percentages will not be released until August 28, when information about performances on all three levels of the CFA will be made public. Last year, 43% of people sitting for Level I passed the exam, 47% passed Level II, and 54% succeeded at Level III.
Becoming a CFA charterholder is a huge leg up for anyone hoping to build a career in investment management. It's also a much cheaper credential than an MBA. A CFA costs around $2,500 in total, while an MBA can easily run into the hundreds of thousands of dollars.