If you’re considering a career in investment management, equity research, or portfolio management, the Chartered Financial Analyst (CFA) designation is likely on your radar. Renowned globally, the CFA charter is one of the most respected and rigorous credentials in finance. But one of the most common questions aspiring candidates ask is: “How long does it take to become a CFA?”
In this blog, we’ll explore the CFA course duration, break down the journey level by level, and give you a realistic view of the time investment required to become a CFA charterholder.
Understanding the CFA Program Structure
The CFA Program is administered by the CFA Institute, and it consists of three levels:
- CFA Level I
- CFA Level II
- CFA Level III
Each level must be passed sequentially. In addition to passing all three levels, candidates must also meet the work experience requirement and submit references to obtain the CFA charter.
How Long Does It Take to Complete CFA Level 1?
CFA Level 1 is the entry point to the program and is often the most attempted level. It focuses on the basics of investment tools, ethical and professional standards, and an introduction to asset classes.
- Exam Duration: 4.5 hours (split into two sessions)
- Recommended Study Time: ~300 hours
- Pass Rate: Historically around 35–45%
CFA Level 1 exams are offered four times a year (February, May, August, and November), allowing candidates to choose a convenient testing window.
Tip: Most candidates take 4–6 months to prepare for CFA Level 1.
Estimated Time to Complete the Entire CFA Program
Here’s a breakdown of how long each level typically takes:
- CFA Level I Duration
- Preparation Time: 4–6 months
- Minimum Gap After Registration: 6 months from registration to exam date
- CFA Level II Duration
- Preparation Time: 6 months
- Exam Windows: Offered twice a year (May and August)
- Recommended Gap: 6–9 months after Level I results
- CFA Level III Duration
- Preparation Time: 6–7 months
- Exam Windows: Once a year (May)
- Complexity: Essay-based section in addition to MCQs
Total Time Estimate
| Stage | CFA Course Duration (Avg) |
| CFA Level I | 6 months |
| CFA Level II | 6–9 months |
| CFA Level III | 6–9 months |
| Total Time | 18–30 months |
On average, it takes 2 to 3 years to complete all three levels, assuming no exam failures and consistent preparation.
Additional Requirements to Become a CFA Charterholder
Besides passing all three levels, candidates must:
- Accumulate 4,000 hours of relevant work experience (acquired over at least 36 months)
- Submit two to three professional references
- Apply and be approved for CFA Institute membership
This means that even after clearing all exams, candidates may need to gain more work experience before earning the CFA charter.
Tips to Stay on Track with the CFA Course Duration
Here are some tips to help you efficiently manage your time throughout the CFA program:
- Plan Your Exam Windows
- Take Level I as early as possible (e.g., February or May) to maximize time for Level II.
- Maintain a Study Schedule
- Stick to the recommended 300+ hours per level. Break it into weekly goals.
- Use the Right Prep Materials
- Invest in reputable CFA study material providers and mock exams.
- Don’t Underestimate Ethics
- Ethics is crucial at all levels and can influence your pass/fail result.
- Factor in Retakes
- Passing on the first attempt isn’t guaranteed. Each retake delays your timeline by 6–12 months.
FAQs: CFA Course Duration & Timeline
Q1: How long does it take to complete CFA Level 1?
A: Most candidates take 4–6 months of preparation, dedicating around 300 hours to study.
Q2: Can I complete all CFA levels in 1 year?
A: Technically, it’s possible by taking Level I in February, Level II in August, and Level III the following May, but this is highly challenging and rarely attempted.
Q3: How many years does it take to become a CFA?
A: It takes around 2 to 3 years to complete the exams, and up to 4 years total if you include the work experience requirement.
Q4: Can I work while pursuing the CFA course?
A: Yes, many candidates study while working full-time. Time management and discipline are key.
Q5: What if I fail a level?
A: You’ll need to wait until the next available exam window, which may delay your progress by 6–12 months.
Final Thoughts
The CFA course duration varies depending on your preparation strategy, exam performance, and ability to meet the work experience requirements. While the journey is demanding, it is highly rewarding and opens doors to prestigious careers in finance and investment.
If you’re asking “how long does it take to complete CFA Level 1?” — the answer is typically 4 to 6 months. But if you’re aiming for the full CFA designation, prepare to commit at least 2 to 4 years.
