In this time of significant change in the industry, we asked CFA Institute members and candidates how much they think the role they currently hold will change in the next 5–10 years. The results are summarized in Exhibit 10. Overall, 43% of respondents say they expect their role to be significantly different. In addition, 5% of respondents say their role is unlikely to exist in 5–10 years.
The ones with the greatest anticipated change, however, are not core investment roles but rather those doing IT in finance (80% say their role will substantially change or cease to exist). The roles most likely to cease to exist are traders (11%) and performance analysts (19%). Among the latter group, much time is currently spent gathering data from unintegrated sources, so it is true that upcoming significant changes could relieve performance analysts of some of the tedious parts of their role, freeing up time for more judgment and analysis. Core roles are also likely to change in significant ways, and here we explore how, starting with the impact of technology and including demographics (such as the influence of millennials in changing the workforce dynamic and the growth of the industry in Asia Pacific).
| Leaving aside any personal circumstances or your expected career progression, how different, if at all, do you think the role of a(n) [CURRENT OCCUPATION] will be in 5–10 years’ time? | I expect it to be substantially different | I do not think the role I perform today will exist in 5-10 years. |
|---|---|---|
| Total | 43% | 5% |
| Information Technology | 77% | 3% |
| Trader | 51% | 11% |
| Financial Adviser/Planner/Wealth Manager | 54% | 4% |
| Accountant or Auditor | 49% | 9% |
| Risk Analyst/Manager | 54% | 3% |
| Performance Analyst | 31% | 19% |
| Research Analyst, Investment Analyst, or Quantitative Analyst | 45% | 4% |
| Credit Analyst | 44% | 3% |
| Investment Consultant | 45% | 1% |
| Relationship Manager/Account Manager | 40% | 6% |
| Portfolio Manager | 39% | 3% |
| Investment Strategist | 36% | 5% |
| Chief Executive Officer (CEO) | 30% | 0% |
| Chief Investment Officer (CIO) | 24% | 1% |