Top 11 Economic Analyst Certifications

Certifications are important for an economic analyst in the job market because they demonstrate a level of expertise and knowledge that can be trusted. They also give potential employers confidence that the analyst is capable of performing the tasks required by their position. Furthermore, certifications can provide credibility to a resume or CV, as employers often view them as evidence of dedication and hard work. Finally, certifications can help an economic analyst stand out from other candidates and demonstrate their commitment to their field.

The purpose of this article is to review the top certifications for Economic Analysts and explain how they can help enhance an economic analyst's career.

What are Economic Analyst Certifications?

Economic Analyst Certification is a professional credential that can be obtained by passing an exam administered by the Association for Economic Analysts (AEA). The certification is designed to demonstrate expertise in economic analysis and provide recognition to those who have achieved a certain level of competency in the field.

The certification program requires individuals to pass both a written and an oral examination. The written exam consists of multiple-choice questions testing knowledge of economics, finance, and statistics, while the oral exam focuses on the ability to explain economic concepts and apply them to real-world scenarios. Those who successfully complete both exams receive AEA's Economic Analyst Certification.

Having this certification can be beneficial for those seeking employment or advancement in the field of economics. It provides employers with assurance that applicants are knowledgeable about the subject matter and capable of performing economic analysis tasks accurately and efficiently. In addition, it can provide job seekers with an edge over other applicants who do not possess the same credentials. Finally, earning this certification may also help increase one's salary potential since many employers view it as evidence of advanced knowledge in the field of economics.

Pro Tip: It is important to research the different economic analyst certification programs available and assess which program best meets your educational, professional, and financial needs. Look for programs that provide comprehensive instruction in economics and financial analysis as well as hands-on experience with real-world applications of the concepts you are learning. Additionally, make sure to look for a program that offers an accredited certification upon completion.

Related: What does an Economic Analyst do?

Top 11 Economic Analyst Certifications

Here’s our list of the best certifications available to Economic Analysts today.

1. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation offered by the CFA Institute, formerly known as the Association for Investment Management and Research (AIMR). The CFA Program is a globally recognized, graduate-level curriculum that covers a broad range of investment topics including economics, financial reporting and analysis, asset valuation, portfolio management, and quantitative methods. The program is designed to provide a comprehensive understanding of the global financial markets and equip individuals with the knowledge and skills necessary to become successful investment professionals.

It takes approximately three years to complete all three levels of the CFA Program. Each level requires passing an exam administered by the CFA Institute. Level I exams are offered twice per year in June and December; Level II exams are offered once per year in June; Level III exams are offered once per year in June.

To get a CFA Charter, you must have at least four years of qualified work experience in an investment decision-making role or related field such as finance or accounting. You must also pass all three levels of the CFA Program exam within four years from when you first sat for your Level I exam.

The cost for each level of the CFA Program varies depending on when you register for each exam. Generally speaking, it costs $450–$650 per exam plus additional fees if you register late or reschedule your exam date.

2. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP designation is intended to demonstrate a financial planner’s commitment to providing competent and ethical financial planning services.

To become a CFP, individuals must complete a bachelor’s degree from an accredited college or university and complete the CFP Board’s education requirements. This includes completing coursework in six core areas such as insurance planning, investment planning, income tax planning, retirement planning, estate planning, and risk management.

In addition to completing the educational requirements, individuals must also pass the CFP Certification Examination and meet experience requirements. The exam consists of two parts: a written exam and an ethics exam. Both exams must be passed before individuals can become certified.

The process of becoming a CFP typically takes about two years to complete. The cost of becoming a CFP varies depending on the individual’s educational background and experience level but generally ranges from $2,000-$4,000 for tuition fees and study materials.

3. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification issued by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have achieved a high level of proficiency in treasury management. To become a CTP, candidates must demonstrate their knowledge and experience in areas such as cash management, international payments, risk management, investments, and financial analysis.

To qualify for the CTP program, applicants must have at least three years of professional experience in treasury or finance-related roles. They must also pass a rigorous exam that covers topics such as cash flow forecasting, capital markets instruments, and financial statement analysis.

The CTP certification process takes approximately four to six months to complete. Candidates must first submit an application with supporting documents such as proof of work experience and education. Once approved, they will be given access to study materials and can then register for the exam. The exam is offered twice a year at various locations around the world.

The cost of the CTP program varies depending on whether you are an AFP member or not. For non-members, it costs $1,500 USD plus applicable taxes; for members it costs $750 USD plus applicable taxes.

4. Certified International Investment Analyst (CIIA)

The Certified International Investment Analyst (CIIA) is an international certification awarded by the Association of Certified International Investment Analysts (ACIIA). It is designed to demonstrate a comprehensive understanding of global financial markets and investment analysis. The CIIA is recognized worldwide as a benchmark for professional excellence in the field of international investments.

The CIIA program consists of four modules covering topics such as asset classes, portfolio management, risk management, and derivatives. It takes approximately six months to complete the program, depending on the individual's learning style and commitment level. To get the CIIA designation, candidates must pass all four modules with a minimum score of 70%.

To be eligible for the CIIA program, candidates must have at least three years' experience in the financial services industry or related field. Candidates must also have a Bachelor's degree from an accredited university or college. Additionally, applicants must provide evidence that they have completed at least 30 hours of approved continuing professional education in investment analysis within the past two years.

The cost for taking the CIIA exam varies depending on country and region but typically ranges from $1,000-$2,500 USD. This fee covers all four modules and includes study materials such as text books and online resources.

5. Chartered Alternative Investment Analyst (CAIA)

Chartered Alternative Investment Analyst (CAIA) is a professional designation that recognizes individuals who have demonstrated expertise in alternative investments. The CAIA program was created by the Chartered Alternative Investment Association (CAIA) and provides a comprehensive education in alternative investments such as hedge funds, private equity, real estate, commodities, and structured products.

The CAIA program consists of two levels of exams: Level I and Level II. To become a Chartered Alternative Investment Analyst, candidates must pass both exams. The Level I exam covers topics such as alternative investment fundamentals, portfolio management techniques, risk management strategies, and institutional investing practices. The Level II exam focuses on more advanced topics such as portfolio construction and evaluation techniques for alternative investments.

The CAIA program can be completed in approximately one year if candidates are able to dedicate the necessary time to study for both exams. Candidates should plan to spend at least 200 hours studying for each exam in order to adequately prepare for the tests.

In order to apply for the CAIA program, candidates must have a bachelor’s degree or equivalent experience in finance or economics-related fields. Additionally, applicants must submit an application form with payment of the registration fee ($450).

The cost of taking the CAIA exams is $1,400 per level ($2,800 total). This fee includes access to study materials and practice tests as well as the actual exam fees.

6. Chartered Market Technician (CMT)

Chartered Market Technician (CMT) is a professional certification program for individuals who work in the field of technical analysis of financial markets. The CMT designation is awarded by the Chartered Market Technician Association (CMTA) to those who have successfully completed a rigorous three-level exam series and have demonstrated their knowledge and expertise in technical analysis.

The CMT program is designed to give practitioners a comprehensive understanding of technical analysis, from basic concepts to advanced strategies. It covers topics such as charting techniques, trend analysis, volatility measurement, market indicators, risk management, portfolio optimization, and more.

It typically takes around two years to complete the entire CMT program. The first level consists of three exams which test your knowledge of basic concepts and principles related to technical analysis. The second level consists of two exams which cover more advanced topics such as trading systems development and portfolio optimization. The third level consists of one exam which tests your ability to apply these concepts in real-world scenarios.

In order to become a CMT, you must pass all five exams with a score of 70% or higher. You can take the exams either through self-study or through an approved educational provider such as Kaplan Financial or Investopedia Academy.

The cost for taking the CMT program varies depending on whether you take it through self-study or through an approved educational provider. If you choose self-study, you will need to purchase study materials from CMTA at a cost of around $1,000 USD for all five exams combined. If you choose an approved educational provider, prices vary but are typically between $2,000-$4,000 USD for all five exams combined.

7. Financial Risk Manager (FRM)

Financial Risk Manager (FRM) is a professional certification offered by the Global Association of Risk Professionals (GARP). It is designed to demonstrate an individual's knowledge and expertise in the field of financial risk management. The FRM certification is a globally recognized standard for measuring the competence and integrity of financial risk managers.

The FRM exam consists of two parts: Part I, which covers foundational topics such as quantitative analysis, financial markets and products, and valuation; and Part II, which covers more advanced topics such as credit risk, market risk, operational risk, investment management, and enterprise risk management.

It typically takes between 8-12 months to prepare for the FRM exam. Candidates should develop a comprehensive study plan that includes studying textbooks, attending review courses or online classes, taking practice exams, and participating in study groups or forums.

The cost of the FRM exam varies depending on when you register. The registration fee for Part I is $400 USD and $450 USD for Part II. Additionally there are fees associated with study materials such as textbooks or review courses that can range from hundreds to thousands of dollars.

8. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification in the field of management accounting. It is granted by the Institute of Management Accountants (IMA) and is recognized internationally. The CMA designation demonstrates a mastery of financial planning, analysis, control, decision support, and professional ethics.

It typically takes two to four years to complete the CMA program depending on educational background and experience. To become certified as a CMA, you must have at least a bachelor’s degree in any field from an accredited college or university and at least two years of professional experience in management accounting or financial management. You must also pass the CMA exam which consists of two parts: Part 1 – Financial Planning, Performance & Control; and Part 2 – Strategic Financial Management.

The cost for taking the CMA exam varies depending on where you take it. In the US, it typically costs around $1,000 for both parts plus additional fees for registration and other materials. Additionally, there are various study materials available online or through IMA that can help prepare you for the exam which may incur additional costs.

9. Chartered Investment Counselor (CIC)

Chartered Investment Counselor (CIC) is a professional designation awarded by the Investment Management Consultants Association (IMCA). The CIC designation is designed to recognize financial advisors who have demonstrated a high level of knowledge and experience in the field of investment management.

The CIC designation requires an individual to pass a comprehensive exam that covers topics such as portfolio management, asset allocation, securities analysis, and risk management. In addition, applicants must also complete at least three years of relevant work experience in the investment industry.

To obtain the CIC designation, applicants must first submit an application to IMCA along with the required fees and documentation. Once approved, applicants must then register for and take the CIC exam which consists of two parts: a written portion and an oral portion. The written portion is composed of multiple-choice questions covering topics such as portfolio construction, asset allocation strategies, performance measurement techniques, and ethical considerations in investment management. The oral portion includes case studies and role-playing scenarios that assess an applicant’s ability to apply their knowledge in real-world situations.

The cost to obtain the CIC designation varies depending on the country where you are taking the exam. In the United States, it typically costs between $1,000-$2,000 USD for both parts of the exam. Additionally, there may be additional fees associated with registration or other administrative tasks related to obtaining your CIC designation.

It typically takes between 6-12 months from start to finish to obtain your CIC designation depending on how quickly you can complete all requirements for certification.

10. Accredited Business Valuator (ABV)

Accredited Business Valuator (ABV) is a professional designation that is awarded to individuals who have demonstrated expertise in the field of business valuation. The ABV credential is granted by the American Society of Appraisers (ASA). To qualify for the ABV designation, candidates must meet certain educational and experience requirements and pass an examination administered by the ASA.

It typically takes between two and four years to become an Accredited Business Valuator. During this time, candidates must complete at least 90 hours of approved courses in business valuation, attend seminars on related topics, and gain at least three years of experience as a professional valuator. Once these requirements are met, candidates can apply to take the exam administered by the ASA.

To get your ABV certification, you must first meet all of the educational and experience requirements outlined by the ASA. Then you will need to register for and take the ABV exam. The exam consists of multiple-choice questions designed to test your knowledge in areas such as financial analysis, industry trends, legal aspects of business valuation, and more. The exam fee is currently $1,000 USD.

Once you have successfully passed the exam, you will be awarded your Accredited Business Valuator (ABV) designation from the ASA. This credential shows that you have demonstrated expertise in business valuation and can provide reliable advice on matters related to it.

11. Certified Economic Developer (CEcD).

Certified Economic Developer (CEcD) is a professional designation awarded by the International Economic Development Council (IEDC). It is the highest level of professional certification available in the field of economic development. The CEcD credential recognizes individuals who have demonstrated a mastery of core competencies in economic development and a commitment to professional excellence.

The process for obtaining the CEcD credential involves passing an exam that tests knowledge and skills in areas such as business retention and expansion, strategic planning, marketing, finance, real estate, workforce development, and other topics related to economic development. To be eligible to sit for the exam, applicants must meet certain requirements including having at least two years of experience in economic development or a related field.

The exam is offered twice per year at various locations around the world. The cost for taking the exam is $400 for IEDC members and $500 for non-members. Additionally, there are fees associated with submitting an application to take the exam and renewing your credentials every three years.

Overall, obtaining the CEcD credential requires dedication and commitment to learning about economic development principles and practices. However, it can be an invaluable asset to those working in this field as it demonstrates expertise and proficiency in this area.

Do You Really Need a Economic Analyst Certificate?

When it comes to economics, the field is wide and varied. A certificate in economic analysis can be a great way of demonstrating your knowledge and understanding of the subject. However, whether or not you need an economic analyst certificate depends on your specific goals and career aspirations.

For those looking to enter the field of economics, a certificate in economic analysis can be an important asset. It demonstrates that you have the basic knowledge necessary to understand and analyze economic data. Additionally, having a certificate may give you an edge when applying for jobs in the economics field as employers may view this as evidence that you are qualified for the position.

On the other hand, if you already have a degree in economics or related fields such as finance or accounting, then it might not be necessary for you to get an economic analyst certificate. In this case, employers will likely focus more on your academic qualifications and experience rather than any certification that you may possess.

Ultimately, whether or not an economic analyst certificate is necessary depends on your particular situation and goals. If you are looking to enter the field of economics or enhance your current qualifications in order to stand out from other applicants, then getting a certificate could be beneficial. On the other hand, if you already have solid academic credentials and experience in the field of economics, then it is unlikely that obtaining a certification will make much difference in terms of employment prospects.

Related: Economic Analyst Resume Examples

FAQs About Economic Analyst Certifications

1. What certifications are available for economic analysts?

Answer: There are several certification options available, including the Chartered Financial Analyst (CFA) designation, Certified Economic Analyst (CEA) designation, and Financial Risk Manager (FRM) certification.

2. How long does it take to obtain an economic analyst certification?

Answer: The length of time it takes to obtain an economic analyst certification varies depending on the program and your personal circumstances. Generally, CFA certifications can take up to 4 years to complete, while FRM certifications can be completed in as little as 6 months.

3. What is the cost of obtaining an economic analyst certification?

Answer: The cost of obtaining an economic analyst certification will depend on the program you choose and any potential discounts or funding opportunities you may have access to. Generally, CFA certifications range from $2,000-$4,000 USD and FRM certifications range from $1,500-$2,000 USD.

4. What type of jobs can I get with an economic analyst certification?

Answer: With an economic analyst certification you can pursue a variety of roles such as financial analyst, risk manager, investment banker, or quantitative economist.

5. Are there any online courses available for aspiring economic analysts?

Answer: Yes! There are a variety of online courses available for aspiring economic analysts such as Coursera’s “Introduction to Financial Accounting” course or Udemy’s “Financial Modeling Bootcamp” course.