The CFA Level 3 results are in

In June, some 170,000 aspiring finance buffs
took the notoriously tough Chartered Financial Analyst exam.

The results are now in for the third and final level of the exam: 

54% of test-takers passed.

The Level III candidates received their results via email on Tuesday morning.

This year’s Level III pass rate is up slightly from last year, when 53% of candidates passed. In 2014, 54% of people passed, while in 2013, 49% passed.

Only about one out of five people who start the CFA program makes it through all three levels and successfully complete the other requirements to become charterholders.

Becoming a CFA charterholder is a huge leg up for anyone hoping to build a career in investment management. It’s also a much cheaper credential than an MBA. (The CFA costs $2,300, including registration fees and test fees.)

More people registered to take the three levels of the exam in June than ever before. The 172,682 total was up from 159,889 in June 2015.

Successful candidates often study for up to 300 hours for each of the three exams.

Here are the historical pass rates since 1963 from the CFA Institute:

CFA Pass Rates by Portia on Scribd

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