Level 6 (Chartered): Should you do it? Part 1 of 2

Which stage am I at?

If you’re looking to attaining a Level 6 qualification / Chartered Status then you’re at one of these 2 stages:

  1. Recently achieved Level 4
  2. Have held Level 4 for a long time
  1. Recently achieved Level 4

Generally, although not always, you will not have a great deal of experience in Financial Services / contracting.  You will have become accustomed to revising for and sitting exams with a view to continuing your journey.

  1. Have held Level 4 for a long time

Generally, although not always, you will have a great deal of experience in Financial Services / contracting.  You will not be accustomed to revising or sitting exams and the prospect of doing so will not be filling you with joy.

 

I’m Level 4 – why do I need to be Level 6 / Chartered?

I have yet to see a vacancy that requires the candidate to be Level 6 / Chartered.  In the sales industry, there’s no requirement for the advisers to be that level and therefore it is unlikely that anyone will have to attain Level 6 / Chartered status to review sales files until that changes.

There are some pension roles that do require G60 / AF3 but other than that, there’s no real requirement to hold the qualification.

However, when it comes to getting on to a competitive contract, landing a more senior role or negotiating a higher day rate, this is where the additional qualification can give you that edge.

The market is getting saturated with many contractors that have gone straight into PPI / Packaged Bank Account complaints from University and have sensibly gained a Level 4 qualification along the way.  This makes it a lot more competitive to get a place on a “good” contract.  In the absence of experience / contacts, being better qualified than your peers will put you ahead of them.

You are more likely to be fast tracked to a senior role such as QC, QA and Team Leader if you hold an advanced qualification.  Many agency recruiters aren’t that aware of the differences between actual contract project experience and employed roles.  Therefore they will give significant weighting to professional qualifications when determining what role they will put you forward for.

Overall, if you intend to contract in Financial Services for the long term then it would be a sensible investment to attain a Level 6 qualification.  However, if this is more of a short to medium term career for you and you are reasonably experienced then there’s no real need to get further qualified in order to secure work.

To be continued in:

Level 6 (Chartered): What’s the best option? Part 2 of 2

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