Chartered market technicians are hired to predict the financial performance of a company or the economy overall. They need a bachelor's degree for entry-level positions and a master's degree for higher level positions. Those seeking certification must take an exam, work experience and membership with the Market Technicians Association.
The Chartered Market Technician (CMT) designation goes to securities and financial analysts who meet rigorous qualification requirements that include at least a bachelor's degree, work experience, and testing. The securities industry recognizes those recipients for mastery of technical analysis of investment instruments and markets. The credential may benefit those seeking career advancement in the industry.
|Required Education||Bachelor's degree; master's degree for advancement|
|Other Requirements||Certification requires an exam, experience and professional membership in the Market Technicians Association|
|Projected Job Growth (2014-2024)||12% for all financial analysts*|
|Median Annual Salary (2015)||$80,310 for all financial analysts*|
Source: *U.S. Bureau of Labor Statistics
CMT Designation Description
Analysis of financial markets is either fundamental or technical. Fundamental analysis focuses on financial statements in assessing the condition of a company and in predicting its future performance. Technical analysis focuses on a stock's historical price pattern, as portrayed on charts, to predict future price movements.
The Market Technicians Association (MTA) confers the CMT to confirm that an analyst is proficient in all aspects of technical analysis. Requirements include successful completion of a three-part examination, current employment in a professional analytical or investment management position for a period of three to five years, and member status in the MTA. Member status, in turn, requires sponsorship by three current MTA members. The MTA also offers affiliate and student status memberships that have less stringent requirements and reduced member benefits.
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Job Description and Requirements
While Chartered Market Technician is generally not considered a job title, it is a designation that is recognized by those who employ financial and securities analysts. Employers who commonly hire CMT-designated analysts include stock brokerage firms, investment banks, mutual fund companies, pension fund management companies, and hedge funds. These analysts commonly use a comprehensive approach to securities analysis that blends both fundamental and technical methods to predict the performance and price action of a company, a business sector or the economy. Based on their analysis, these analysts make buy and sell recommendations for their company's proprietary portfolio or for customers of their firm.
Requirements typically include at least a bachelor's degree in a finance-related field. Many analysts continue their education by obtaining an MBA. In addition to earning a degree, those preparing for the CMT exam study a large body of information in a self-study format. The MTA publishes a list of recommended study materials that cover topics such as data collection and analysis, trend analysis, chart patterns, and market cycles.
Job Outlook and Salary Information
The U.S. Bureau of Labor Statistics (BLS) reports that from 2014-2024, employment is expected to increase by 12% for financial analysts. As of May 2015, the BLS stated that the median annual salary of financial analysts was $80,310.
Chartered Market Technicians are part of a specialized group of financial analysts. They must have at least a bachelor's degree in a finance-related field and meet all requirements from the MTA. They are expected to see above average job growth over the next decade.