How do CFA pros see AI, ESG, and the value of the CFA mark?

AI has officially arrived for most aspiring and current CFA professionals, with four-fifths saying it's already having an impact on their professional roles.

That's according to the newest survey from Kaplan Schweser, an organization specializing in providing exam prep courses and study materials for financial certifications.

In its 2024 CFA Program Survey, 82 percent of respondents agreed AI has had some impact on their roles. While more than two-thirds (70 percent) believe AI will enhance their work in the future, about one-quarter remain uncertain about whether it will be beneficial in the end. 

Those findings add more color to an August survey report from the CFA Institute, which found employees at two-thirds of investment firms are curious about AI, while 60 percent of firms reported anxiety and 48 percent saw resistance among their workforce.

Kaplan Schweser's survey also highlighted career satisfaction among CFA professionals. Sixty percent of respondents reported increased satisfaction with their career paths after passing their most recent exam or earning the charter, with satisfaction levels rising to 67 percent among charterholders. Beyond that, 32 percent of CFA candidates surveyed said they got a pay bump after passing a CFA exam or earning the credential, while 20 percent reported getting a promotion after crossing one of those CFA milestones.

There may be some questions on just how valuable the CFA mark is, with recruiters and advisors not necessarily seeing eye to eye on that. But Derek Burkett, vice president at Kaplan Schweser, said the findings are a testament to the value of the CFA designation in shaping careers. 

“The CFA charter remains one of the most important and impactful designations in the investment management industry," Burkett said in a statement announcing the findings. "Professionals are more satisfied with their careers and career trajectories and are rewarded by their employers with promotions and increased earnings.”

When asked which of the new professional pathways introduced for the 2025 Level III exam they would like to pursue, 36 percent of respondents expressed interest in the Portfolio Management Pathway, while 15 percent opted for Private Wealth and 15 percent for Private Markets. Nearly half of participants did not select a specific pathway.

The survey also showed mixed sentiment on ESG investing, which the CFA Institute has prioritized since its 2021 decision to offer a certificate devoted to that area. While 38 percent of respondents agreed learning about ESG will improve their effectiveness, 28 percent disagreed, and 34 percent remained neutral. Similarly, 41 percent were optimistic about ESG’s long-term impact on asset management, compared to 30 percent who were not.

A research report by the CFA Institute in February found assets in responsible investment funds around the world have nearly tripled over the last decade, going from $2.2 trillion in 2012 to $6 trillion in 2022. In the US, that trend was led by institutional investors, who tended to be more focused on achieving positive risk-adjusted returns than achieving specific ESG objectives.

“Institutional investors across markets are facing an increasingly complex regulatory and political environment, potentially affecting the further growth of institutional assets and deterring their further participation,” Rhodri Preece, senior head of research at the CFA Institute, said in a statement at the time.