Discover your dream Career
For Recruiters

Bank makes CFA exams optional after pass rate falls

In a further sign that the popularity of the CFA® exams may be waning, a bank has decided to relax its requirement that juniors sit the exam.

Berenbeg, the privately owned German bank, previously required that its analysts and associates passed all three levels of the CFA exams to achieve the CFA Charter. 

As of today, however, Berenberg has told its juniors that the exams are optional.

In an email seen by eFinancialCareers, Laura Janssens, Berenberg's head of European equities, told staff that after "careful consideration" the bank has decided that the combination of its own graduate scheme and on the job teaching will be sufficient to for "junior colleagues to progress in their careers."

Part of the issue with the CFA is the 300+ hours of study required to pass each exam, and the declining pass rate. "Given the amount of additional study required to pass the CFA exams, we have noted with concern the continued pressure in the pass rates for the exam overall," says Janssens, adding that the bank has decided juniors' time would be better spent "on more tailored career development and building relationships with colleagues and clients."

Juniors who want to take the exams will still be given that option. Berenberg has 38 front office graduate hires. 

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters, no matter what qualifications you have.

Have a confidential story, tip, or comment you’d like to share? Contact Zeno.Toulon@efinancialcareers.com in the first instance.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

CFA Institute does not endorse, promote or warrant the accuracy or quality of eFinancialCareers. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Photo by Akshay Chauhan on Unsplash

author-card-avatar
AUTHORSarah Butcher Global Editor
  • Hk
    Hkm
    13 October 2022

    Spare a thought for those sitting the IFOAs ridiculous actuarial exams where the pass rates are even lower

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
PER, Private Equity Recruitment
Investment Analyst, Private Credit, Dubai, UAE
PER, Private Equity Recruitment
Dubai, United Arab Emirates
Michael Page
Multiple roles - Real Estate Private Equity (US Focused)
Michael Page
Dubai, United Arab Emirates
Eximius Finance
Newly Qualified Accountant - Investment Banking
Eximius Finance
London, United Kingdom
Charterhouse
Research Lead (Private Equity)
Charterhouse
Riyadh, Saudi Arabia

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.