Which Is a Better Option in India – CA or CFA?
Last Update On 10th March 2025
Duration: 7 Mins Read
Picking which certification to obtain will be a huge factor in one’s financial career. The Chartered Accountant, also known as a CA, and the Chartered Financial Analyst India, better known as a CFA, are two of the biggest qualifications in India. Obtaining both qualifications also provides a variety of lucrative employment opportunities.
This article examines the CA vs CFA Certification, elucidating the two, the advantages and drawbacks of each as well as the curricula common to each, job opportunities obviously received before completion, potential income after completion, and whether one or both of the two transpires much more difficult to aid one in making the best selection.
About CFA Certification
The CFA Institute awards the Chartered Financial Analyst (CFA) India certification. It covers investment management and financial analysis in addition to portfolio management, making it perfect for professionals who want a career in the financial services industry and particularly if you envisage developing your career through roles related to investment analysis/management.
Benefits of the CFA Certification
- The most recognized designation globally: Nothing beats the global recognition that CFA charter has.
- Networking opportunities: Joining a global community of finance professionals.
- Career prospects: Provides you access to a variety of roles in investment banking, portfolio management and research analysis.
CFA Syllabus
There are three levels to the CFA program. Here’s a summary of what you’ll get to learn in each of these levels.
- Level I: Concentrates on the basic concepts of investment tools, financial reporting and analysis;
- Level II: Structuring of asset, investment in equities and bonds, derivatives
- Level III: Portfolio Management, Wealth Planning and Advanced Investment Strategies.
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Syllabus Focus
The CFA syllabus focuses heavily on investment management and financial analysis, making it ideal for those looking to build a career in investment banking, portfolio management, or equity research. The curriculum is divided into three levels, each covering a specific aspect of finance. Level I introduces the foundational concepts of investment tools and financial reporting, while Level II dives into asset valuation, securities, and portfolio management strategies. Level III focuses on wealth planning, portfolio management, and advanced investment techniques, allowing students to apply what they’ve learned in real-world scenarios. The CFA syllabus is rigorous and emphasizes ethical decision-making, which is key in the finance industry.
CFA Career Opportunities
Charter holders have a choice of multiple career paths to choose from, including:
- Investment Banking
- Portfolio Management
- Equity Research
- Risk Management
- Financial Advisory
- Asset Management
CFA Salary Expectations
CFA charter holders can look forward to competitive compensation in India. average CFA salary in India goes up to INR 6-8 lacs annually for entry-level roles, and average CFA salary for mid-level goes up to INR 12-18 lacs professionally. You can also expect over INR 20 lacs per annum at a senior level.
About CA Certification
This is the Chartered Accountant (CA) certification by the Institute of Chartered Accountants of India (ICAI). This is an influential certification in India that mainly revolves around the areas of accounting, auditing, taxation as well as financial management. CA Professionals have sound exposure to these areas and hence are in great demand for the same.
Benefits of the CA Certification
- New Trend: Not just Telecom and Compute, CAs are growing in demand with all other Industry segments.
- Wide Experience: A general familiarity with accounting, auditing and internal audit, taxation as well regional financial planning issues.
- Regulatory Knowledge: Understanding of Indian law and regulation.
- Reputation: They have a high reputation and trust in the business community.
CA Syllabus
The CA syllabus comprises of three levels:
Foundation Course: This course comprises basics about accounting, economics and business laws.
Intermediate Level: Builds up on accountancy, taxation, auditing and financial management.
Final: It is the final level which covers advanced knowledge of financial reporting, strategic financial management and professional ethics.
Syllabus Focus
The CA syllabus is specifically tailored to those pursuing careers in accounting, auditing, taxation, and financial management, with a strong focus on Indian financial laws and regulations. The course is divided into three stages: Foundation, Intermediate, and Final. The Foundation stage lays the groundwork for understanding accounting principles, economics, and business law. The Intermediate stage delves deeper into subjects such as taxation, financial management, and auditing. The Final stage is the most advanced, covering financial reporting, strategic financial management, professional ethics, and corporate law. CA professionals are well-equipped to handle complex financial tasks across various industries in India.
CA Career Opportunities
There are various that can be tapped into. Here’s a glimpse into the best spheres.
- Auditing
- Taxation
- Financial Consultancy
- Corporate Finance
- Risk Management
- Forensic Accounting
- CA Salary Expectations
In India, the salaries for CAs have always been lucrative: starting salary around 6 – 7 lacs per annum; mid-level professionals earning between INR 12 -20 lacs and senior roles fetching anything upwards of INR 25 lakhs per annum.
CA vs CFA: Which is better?
Choosing between good and bad is easy, but selecting between good and good is extremely difficult. The latter applies to this choice. The CA course requires a five-year commitment and includes three levels, namely foundation, intermediate and final. You can enrol for the CA course immediately after clearing class 12 or after graduation. Chartered Accountancy provides flexible job opportunities for students in India.
The CFA course on the other hand is a four-year commitment, including relevant work experience. Aspirants have to clear a six-hour examination to be able to get a certificate from the CFA Institute. Once the exams are cleared, students can apply for a CFA membership and get registered with their local CFA society. This article covers all the aspects that you need to consider before making any decision. But first, it is important to understand each profession separately.
CA vs CFA: Which is More Difficult?
When it comes to CA vs CFA, both of these certifications are tough however their difficulty levels defer.
CFA:
CFA exams have gained a reputation for the detailed technical knowledge of investment and financial analysis. Pass rates are very low, a testament to the difficulty of exams.
CA:
How hard is CFA? A difficult exam again which tests you on a large curriculum from accounting, taxation, to auditing and finally financial management. It has a larger failure rate compared to CFA exams which shows how difficult the exam is.
CA vs. CFA: Which is the Better Choice in India?
The decision to choose between CA and CFA largely depends on the individual’s career goals and interests. CA is an ideal choice for those who are keen on working in accounting, taxation, or auditing and prefer roles related to financial compliance and regulation within India. On the other hand, CFA is better suited for those interested in investment analysis, portfolio management, or investment banking, particularly with a global perspective. If you are looking to build a career in India’s growing financial services industry, both certifications are valuable, but the decision should align with your specific career aspirations.
CA Vs CFA – Cost Comparison
The cost of pursuing a CA certification in India can vary significantly, primarily due to exam fees, coaching classes, and study materials. On average, the total cost of completing the CA qualification can range between INR 0.5-1 lakh, depending on the level and additional study resources. The CFA certification, on the other hand, also involves multiple expenses, including registration fees, exam fees for all three levels, and study materials, which can add up to around INR 2-3 lakhs. While the cost for both certifications may seem substantial, they offer substantial returns in terms of career advancement and salary potential, making them worthwhile investments for those committed to a career in finance.
Average Salary CA vs CFA Salary in India
What is the CFA Salary: For entry-level roles, you will get around INR 6-8 lacs p.a., mid-level professionals usually earn in the range of INR 12-18 Lakhs and senior positions have compensation greater than or equal to INR 20 lakhs.
Salaries of CAs: A fresher CA generally gets a salary around INR 6-7 lakhs per annum whereas the experienced ones can make as much up to INR 12-20 lacs and few senior level responsible positions earnings exceed based on additional outputs.
Clubbing CA and CFA
Apart from CA, many professionals also opt for CFA certification to enhance their job opportunities. By having both qualifications together, one can obtain a deep knowledge in accountancy, audit, taxation, investment management and financial analysis which is hugely beneficial to grow yourself without any restrictions.
What if You Can’t Choose Between CFA and CA?
If you have difficulty in choosing between CFA and CA, then take a look at the spheres that can be deciding factors.
Career Goals: If you want to be in investment management or financial analysis, then it makes more sense for the CFA. For accounting, auditing or taxation it would be easier to go with a course that is related (CA), if other than IBPS.
Time Commitment: Be realistic about how much time and effort you can spend on study In short, both certification processes are very demanding.
Interest & Strengths: Which certification fits well with your interest and strengths in finance, accounting etc.
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Why Zell Education’s CFA Course is the Perfect Choice for You
Zell Education’s CFA course is designed to help aspirants succeed in the challenging CFA exams by providing comprehensive, expert-led guidance throughout the learning process. The course offers an interactive learning experience with access to study materials, mock tests, and one-on-one mentoring to help students grasp complex finance concepts. Zell Education’s CFA curriculum is tailored to ensure that students are thoroughly prepared for each of the three levels of the CFA exams, with a focus on practical applications and industry-relevant knowledge. Whether you are looking to pursue a career in investment banking, portfolio management, or equity research, Zell Education offers the support and resources necessary to help you achieve your goals and stand out in the competitive financial sector.
FAQs on CA or CFA
Which Offers a Better Salary Package: CFA vs CA?
CA professionals generally get better salaries in India, especially at the senior level than CFA charter holders. Nevertheless, in some cases CFA charter holders also make very good money (e.g., for any type of investment-related position).
How Hard is CFA?
How hard is CFA? You may ask. Well, CFA exams require organized or structured studying as they are challenging and involve a thorough understanding of investment management and financial analysis. Given the tough nature of the exams, these pass rates are quite low.
Is CFA in Demand in India?
No doubt CFA is very much in demand amongst the corporates based out of India and especially for roles such as Investment Banking, Portfolio Management, Equity research or even Financial Advisory etc.
What is the Main Focus of CA and CFA?
CA: CA qualification deals with accounting, auditing, taxation and financial management in india.
CFA: The CFA credential relates to investment management, financial analysis and portfolio management on a global level.
