The CFA or Chartered Financial Analyst is a globally recognized certification provided by the CFA Institute. CFA aims at individuals seeking a career in finance or investment management and tests their knowledge of investment fundamentals, valuing assets, wealth planning, and portfolio management.
CFA Eligibility requires students to either have completed a 3-year undergraduate course or have worked for 4000 hours in an investment-related field. The exam is divided into three levels viz. CFA Level 1, CFA Level 2 and CFA Level 3. CFA Duration is 2 years wiht CFA Fees ranging between INR 40,000 to INR 1,00,000.
Upon successful completion of a CFA course, candidates can pursue roles like Chartered Financial Analyst, Investment Banker, Portfolio Manager, Equity Research Analyst, and Risk Manager. After gaining substantial years of experience the average salary of a Certified Financial Analyst in India is between INR 15 LPA to INR 20 LPA. Read More: CFA Admission
CFA: Course Highlights
| Course Duration | 2 years |
| Eligibility | An undergraduate degree in any discipline with 4 years of work experience |
| Admission Process | Application Based |
| Course Fee | INR 40,000 to INR 1,00,000 |
| Average Salary | INR 15 LPA - 20 LPA |
| Top Recruiters | SBI, ITC, JP Morgan and Co, E&T, Deloitte, Bharti Airtel, Citigroup, HDFC Bank, ICICI Bank |
| Job Profiles | Chartered Financial Analyst, Investment Manager, Portfolio Manager, Risk Manager, Equity Research Analyst |
What is a CFA Course?
The CFA course is a professional credential offered by the CFA Institute. The program details are as follows.
- It is aimed at finance and investment professionals and is widely regarded as one of the most recognised qualifications in finance.
- The program is divided into three levels, each having its 6-hour exam.
- The CFA curriculum is broad and covers topics like ethics, investment tools, corporate finance, equity investment, and more.
- Candidates must have a bachelor’s degree and work experience to pursue a CFA course.
- To earn the CFA certificate, candidates are required to clear all three levels of the exam. Upon achieving the certificate, candidates can look forward to many roles within the finance industry with good pay.
Why Study a CFA Course?
Obtaining a CFA certificate can offer several benefits which are as follows.
- The CFA curriculum covers a broad range of topics, allowing candidates to develop deep finance knowledge and skills. It can be valuable in a variety of roles across the industry.
- The CFA certificate is globally recognised and individuals possessing it have better chances of securing opportunities.
- Many employers value the skills and knowledge that come with a CFA certificate and having one can improve the chances of career advancement.
- Securing a CFA certificate provides access to a global network of finance professionals to share knowledge and build industry relationships.
- The CFA program is designed in a flexible way that allows students to study while working full-time.
Who should study the CFA Course?
The CFA course is designed for individuals aspiring to build a career in the field of finance, particularly in investment management and financial analysis roles. Some profiles that can benefit from a CFA certificate are as follows.
- Finance Professionals can deepen their knowledge and enhance their career prospects through the CFA course.
- Investment Analysts can consider the CFA course as it covers a wide range of topics related to investment analysis and portfolio management.
- Aspiring Portfolio Managers often pursue the CFA course to efficiently manage investment profiles and make investment decisions for clients and organisations.
- Risk Managers can benefit from the CFA program as it offers a deep understanding of financial markets, risk assessments and instruments.
- Economists looking to apply their knowledge in the financial market and investment can find the CFA program valuable.
CFA Course: Eligibility
There are certain eligibility criteria that candidates are required to meet to be eligible for the CFA course. The general eligibility criteria are as follows.
- Candidates are required to possess an undergraduate degree in any discipline. Candidates in the last year of their undergraduate degree can also apply but they need to complete their degree before the CFA Level 2 exam.
- Candidates must possess a combination of 4000 work hours or higher education acquired over three years before registering for the CFA Level 1 exam.
- Candidates pursuing internships or have their own businesses are also eligible to apply. The only requirement is to have a paycheck.
- Candidate work experience should be in the field of Leadership and teamwork, Business communications, Critical thinking and problem-solving, time management, professional judgment, analytical skills and adaptability.
- Candidates must be fluent in English and are required to submit a professional compliance statement.
CFA Admission Process
CFA Admissions are required to register themselves for the CFA exam by creating an account on the official CFA website. The CFA course has no entrance exam but candidates are required to pass to pass all three levels of the course. CFA Exam Dates The CFA exam is conducted throughout the year in different sessions. The Level I exam is conducted 4 times a year while the Level II and Level III exams are conducted twice a year. The exam dates are as follows-
CFA Level I Exam Dates
| Session | Exam Date |
|---|---|
| May Session | May 15 - 21, 2024 |
| August Session | August 20 - 26, 2024 |
| November Session | November 13 - 19, 2024 |
| February Session | February 17 – 23, 2025 |
CFA Level II Exam Dates
| Session | Exam Date |
|---|---|
| May Session | May 22 - 26, 2024 |
| August Session | August 27- 31, 2024 |
| November Session | November 20 - 24, 2024 |
CFA Level III Exam Dates
| Session | Exam Date |
|---|---|
| August Session | August 16 - 19, 2024 |
| February Session | February 13 – 16, 2025 |
Top CFA Institutes
There are many institutes in India that offer programs to prepare students for CFA exams. These preparation courses include study materials, expert guidance and practice exams to ensure students are well-prepared for the CFA examination process. Some of the top CFA colleges are mentioned below.
| Institute Name | Location | Approximate Fees (INR) |
|---|---|---|
| Chiranjeev Jain CA Coaching | Hyderabad | 12,390 |
| RVM Finishing School of Finance | Hyderabad | 50,000 |
| Benchmarx Academy | Mumbai | 26,000 |
| FinLearning Academy | New Delhi | 30,000 |
| Orbit Institutes Pvt Ltd | Chennai | 1.3 L |
| IMS Proschool | Pune | 20,000 - 40,000 |
| Miles Education | New Delhi | 35,000 |
| Indian School of Business Management and Administration | Nagpur | 21,000 |
| IMS Proschool | Gurgaon | 20,000 - 40,000 |
| IMS Proschool | Kochi | 20,000 |
| Financial Planning Academy | Mumbai | 3.5 L |
CFA Syllabus
The CFA course is divided into three levels with each part focusing on a particular aspect. Level I focuses on knowledge and comprehension, Level II focuses on application and analysis and Level III focuses on synthesis and evaluation. The overview of the CFA course syllabus along with weightage in the exam is mentioned in the following table.
| Subjects | Level I Weightage | Level II Weightage | Level III Weightage |
|---|---|---|---|
| Ethical and Professional Standards | 15-20 | 10-15 | 10-15 |
| Quantitative Methods | 8-12 | 5-10 | N/A |
| Economics | 8-12 | 5-10 | 5-10 |
| Financial Statement Analysis | 13-17 | 10-15 | N/A |
| Corporate Issuers | 8-12 | 5-10 | N/A |
| Equity Investments | 10-12 | 10-15 | 10-15 |
| Fixed Income | 10-12 | 10-15 | 15-20 |
| Derivatives | 5-8 | 5-10 | 5-10 |
| Alternative Investments | 5-8 | 5-10 | 5-10 |
|
Portfolio Management and Wealth Planning |
5-8 | 10-15 |
35-40 |
CFA: Course Comparison
The CFA course is often confused with the Chartered Accountancy Course as both are prestigious qualifications in the finance industry. CFA focuses on investment management and analysis, CA encompasses a broader range of finance and management skills. The following table highlights the difference between a CFA and a CA course.
| Parameter | CFA | CA |
|---|---|---|
| Eligibility | Undergraduate degree in any discipline with 4 years of work experience | Class 12 with 50% marks |
| Admission Process | Registration on the CFA website | Foundation course: Class 12 Direct Entry: Graduation |
| Entrance Exam | Not required | CPT (Common Proficiency Test) |
| Top Colleges | Chiranjeev Jain CA Coaching, RVM Finishing School of Finance, Benchmarx Academy, IMS Proschool | Academy of Commerce, Aldine CA, Vidya Sagar Career Institute Ltd, Nahata Professional Academy |
| Course Fees | INR 1,90,000 - 5,00,000 | INR 50,000 - 1,50,000 |
| Top Recruiters | SBI, ITC, JP Morgan and Co, E&T, Deloitte, Bharti Airtel, Citigroup, HDFC Bank, ICICI Bank | KPMG, Deloitte, Ernst & Young (EY), Lodha & Co., PriceWaterhouseCoopers (PWC) |
| Job Profiles | Chartered Financial Analyst, Investment Manager, Portfolio Manager, Risk Manager, Equity Research Analyst | Accountants, Accounting Managers, Auditors, Taxation Experts |
| Average Salaries | INR 15 LPA - 20 LPA | INR 15 LPA - 25 LPA |
CFA Course: Jobs and Salaries
The CFA designation is highly respected in the finance industry and can open a wide range of job opportunities. The following table highlights some of the top profiles that candidates can pursue after completing the course.
| Job Profile | Job Description | Average Annual Salary (INR) |
|---|---|---|
| Chartered Financial Analyst | Analyse financial portfolios and create recommendations. | 11 L |
| Investment Manager | Manage investment for individuals or corporations. | 5.3 L |
| Portfolio Manager | Make investment decisions for a portfolio of assets owned by individuals or corporations. | 11.1 L |
| Equity Research Analyst | Determine the value of the company’s stocks and predict future financial plans by analysing financial data and public records. | 9.9 L |
| Risk Manager | Assess and manage the financial and operational risks associated with the investment. | 10.8 L |
CFA Scope
The CFA certificate is highly regarded in the finance industry and holders have opportunities in various career paths. Some opportunities are as follows.
- Candidates can work in investment management in asset management firms, and pension funds, managing and optimising investment portfolios.
- CFAs are well trained for financial analysis where they work as financial/research analysts to analyse market trends and provide insights for decision making.
- CFAs can also work for multinational corporations or financial institutions, leveraging their skills in financial markets and economies around the world.
- CFA professionals can work on alternative investment opportunities, working on deals, investment strategies and due diligence.
- CFA can find roles in corporate finance for expertise in financial analysis and strategic decision-making.
CFA Course: FAQs
Ques. What are the 3 levels of CFA?
Ans. CFA is divided into 3 levels which are as follow-
- CFA Level 1
- CFA Level 2
- CFA Level 3
Ques. What is CFA?
Ans. The CFA is a professional degree that prepares candidates to be effective working professionals in the field of finance. It consists of three levels, with each level testing different aspects of financial analysis and investment management.
Ques. Is CFA harder than CA?
Ans. Deciding which is harder between the Chartered Financial Analyst (CFA) and the Chartered Accountant (CA) depends on personal experiences and preferences. The CFA program focuses on investment management and financial analysis, with three levels of exams. Meanwhile, the CA qualification covers accounting, taxation, auditing, and financial management, and has three exam levels and practical training.
Ques. Is a CFA better than an MBA?
Ans. A CFA focuses on investment and finance, while an MBA covers management, marketing, and operations. Some prefer CFAs for finance-related roles, while others choose MBAs for broader career options. So, whether it is better than an MBA depends upon the candidate's preference and future goals.
Ques. What is CFA course salary?
Ans. In India, entry-level salaries for CFA charter holders can range from ?4 lakh to ?10 lakh per annum. But it depends on factors such as the sector (investment banking, asset management, equity research, etc.), job role, and geographic location. Mid-career professionals can earn around ?20 lakh to ?30 lakh per annum or more. And they work as portfolio managers, investment analysts, or corporate finance managers.
Ques. Who is eligible for CFA?
Ans. Candidates with a UG degree in any discipline or in the final year of their UG degree are eligible for CFA. They should also possess a minimum of 4 years of work experience.
Ques. Does CFA require maths?
Ans. Yes, the Chartered Financial Analyst (CFA) program requires math. You need to understand topics like statistics, probability, and calculus. These are important for financial analysis and making investment decisions, which are key parts of the CFA program and finance careers.
Ques. What is the duration of a CFA course?
Ans. The Chartered Financial Analyst (CFA) course usually takes about two to three years to complete. This includes passing all three levels of exams and preparing for each exam. Level 1 usually needs the longest preparation time because it covers a lot of topics. Overall, it takes candidates around two to three years to finish the whole CFA program.
Ques. Is CFA level I easy compared to other levels?
Ans. Yes, Chartered Financial Analyst (CFA) Level I is generally easier compared to the other levels. Level I covers basic concepts across various areas of finance, like ethics, economics, and financial analysis. It mainly tests understanding and recall of these concepts. Levels II and III go deeper into more complex topics and require higher-level thinking and application of knowledge. While Level I may be easier, all levels of the CFA program need thorough preparation to succeed.
Ques. Does CFA have an age limit?
Ans. No, there isn't a specific age limit for candidates in the Chartered Financial Analyst (CFA) program. People of any age can pursue the CFA designation if they meet the educational and professional requirements set by the CFA Institute.
Ques. Does CFA need an internship/articleship?
Ans. No, completing an internship or articleship is not required for the Chartered Financial Analyst (CFA) program. The focus of the program is on academic coursework and passing the three levels of exams. However, gaining relevant work experience in the finance industry is encouraged and is helpful for knowledge and skills. However, Internships/articleships are accepted in CFA if they are paid.
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