Professionals take the CFA exam betting the certification
can become a path to better jobs, higher salaries and a deeper understanding of finance. Financial firms have cut more than 311,000 jobs since the credit crisis began in 2007, according to data compiled by Bloomberg.

"Now more than ever we need well-trained, ethically
centered investment professionals operating in the financial markets," Bob Johnson, senior managing director of CFA Institute, said in the statement. "Candidates and charter- holders regularly tell me that when looking for a new job or working with potential and current clients, the CFA designation distinguishes them from those without the charter."

Wall Street has suffered from the financial crisis that
claimed Lehman Brothers Holdings Inc., Merrill Lynch & Co. and Bear Stearns Cos. New York City has lost more than 23,000 financial jobs from the beginning of 2007, and that number may double by the second quarter of 2010, according to the city's Office of Management and Budget.

250 Hours of Study

There are about 84,000 CFA charter holders globally,
according to the statement. The not-for-profit CFA Institute
recommends candidates spend at least 250 hours studying for each phase of the test. It costs about $2,500 and takes an average of four years to complete all three levels.

Of the 49,797 people who sat for the Level 1 exam in
December, 35 percent passed. Topics range from ethical standards and securities valuation to financial statement analysis and portfolio management.

The CFA program started in 1963 and stems in part from
Benjamin Graham, a pioneer of value investing who mentored
Warren Buffett and advocated a rating system for financial
analysts.