The 2026 Hurdle: What is the CFA PSM?

The CFA Institute introduced PSMs to bridge the gap between "Exam Theory" and "Office Reality." For Level 1, you must choose one of two paths. While you don't get graded (it's a pass/fail completion), the choice you make can impact your resume and job readiness.

Option 1: Financial Modeling (The Traditional Path)

This module teaches you how to build a top-down, three-statement financial model of a company in Excel. It is the bread and butter of traditional finance.

• Best for: Aspiring Investment Bankers, Equity Research Analysts, and Corporate Finance professionals.
• Difficulty: Moderate (if you are a CA or Commerce student, this will feel familiar).
• Career Impact: Direct. Every buy-side and sell-side firm expects you to know how to link an Income Statement, Balance Sheet, and Cash Flow statement.

Option 2: Python Programming Fundamentals

This module introduces you to the basics of Python, specifically how to use Jupyter Notebooks for data analysis and visualization.

• Best for: Aspiring Quant Analysts, FinTech developers, and those interested in High-Frequency Trading or Data Science.
• Difficulty: Moderate to High (requires a logical/coding mindset).
• Career Impact: Future-Proof. As finance becomes more automated, the ability to script data pulls and run regressions in Python is a massive differentiator.

At a Glance: Which one should you pick?

Strategy: When should you complete the PSM?

As a Lead Instructor, my advice is simple: Complete it immediately after your exam.

You have a 60-day window between the exam date and the result date. Don't waste the "post-exam" adrenaline. Spend 2 hours a day for one week right after your exam to finish the module. This ensures your results are released without any technical glitches.