Despite a global economic crisis that has battered the job market in the financial industry, a record number of investment professionals have signed up to take the chartered financial analyst exams in June.
The CFA Institute reported that 128,600 people from 154 countries plan to take one portion of the three-part examination. That's about 8.5% higher than the 118,500 candidates who registered in June 2008 and 36% higher than the 94,500 candidates in June 2007.
The labor market has become much more competitive in the current economic crisis, said Nitin Mehta, London-based managing director for Europe, Middle East and Africa at the CFA Institute.
CFA exam enrollment in international markets, particularly in emerging markets such as China, has accelerated at a faster pace than the U.S., Mr. Mehta added. For example, about 19,700 candidates from China registered for the exam for the 2009 fiscal year, a 25% increase compared to the previous year.
Other emerging nations with significant increases in the number of CFA candidates include United Arab Emirates with a 23% rise; Brazil with a 16% hike and South Korea with a 15% jump. In developed markets, Australia, France, Germany and the U.K. registered upswings of up to 25% each. In the U.S., 56,800 candidates signed up for the exam in the 2009 fiscal year, a 4% increase over the previous year. Thao Hua