Demand For CFA 2024: Global vs India Insights | Zell

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      The Global and Indian Demand for CFA 2024

      Being a student of finance and accounting graduate would mean you have a huge potential to become a chartered financial analyst. For a finance student, a chartered financial analyst distinction would be a huge prospect in your career. The people who hold a CFA title can be seen working not only in India but also overseas in different financial roles. In this blog lets discuss the demand for CFA in 2024. 

      The renowned top multi-national accounting corporations are known as Demand for CFA in their payroll. Without a CFA, it becomes difficult for a company to keep its finances healthy and structured. 

      This CFA program can be earned by enrolling in the Chartered Financial Analyst Institute. However, you must be a graduate to enter this reputed course that provides post-graduate certification. Compared to most financial designations, the reputation of CFA resonates through the financial markets. Going through this article, you will be able to get a better understanding of the global and Indian demand for chartered financial analysts. 

      Demand for CFA in India

      Due to the constant growth of financial markets in India, the demand for CFA is on a steep rise. Moreover, because of its professional accreditation, choosing to become a CFA would lead you toward several career opportunities in different industries. When it comes to the demand for CFA in India, it is considered the third largest market where chartered financial analysts work. 

      The constant changes in financial sectors can only be dealt with by the professionalism of chartered financial analysts. Most importantly, the CFA program offered in India has been divided into three levels. Each of those levels can help you get job opportunities that match your knowledge and skillset. With the addition of professional experience and skills, a CFA in India would be able to get a hike in their salary. 

      The people who have cleared level 1 of the CFA course could expect an annual salary of Rs. 3 to 4.5 lakhs. Meanwhile, the ones who have successfully cleared level 2 for them, Rs. 6 lakhs, could be easily acquired. Lastly, for anyone who has cleared level 3, an annual salary package of 10 lakhs can be expected. 

      Demand for CFA Abroad

      Even though the demand for CFA is considerably higher in India, any student who wishes to take their future abroad by completing a CFA. For them, several job opportunities would also be waiting, with lucrative offers. The market for CFA abroad is pretty competitive, and many people who have similar skills apply for one position. 

      However, compared to India, if you choose to work as a CFA abroad, you might be able to earn more money. This position is quite rewarding to those people who possess the right set of skills and ability to perform under pressure. Some of the top financial sectors where you could have a chance of finding a job as a CFA would be investment banking, private equity, portfolio management, and asset management. 

      At the same time, some of the positions that you could find yourself working in would be as a financial analyst, research analyst, investment banker and other similar job roles. Within these roles, you have to analyze the financial data, make investment decisions while keeping the company at first, and manage portfolios through guidance and clientele. 

      Demand For CFA

      Top Job Opportunities for CFA in India

      • Investment banker

      The most popular job opportunity that comes with becoming a CFA in India would be as an investment banker. The role of an investment banker is of huge importance in every organization. Without the help of an investment banker, it would be difficult for an organization to make successful and profitable investment decisions. These investment bankers are responsible for talking with clients and building relationships to either expand the business or raise capital. An investment banker in India could expect a salary of Rs.12.96 per annum. 

      • Portfolio manager

      A portfolio manager is yet another popular job that CFAs could see themselves working in renowned financial firms. In this job, you have to manage the funds of a company or an individual by helping to develop them or invest them in the right sectors. Every category of fund, like mutual funds, hedge funds, venture capital funds, and closed funds, is managed by the company. All you need to have is a broad knowledge of the financial market and excellent research skills. A portfolio manager in India can expect a salary of Rs. 12.36 lakhs per annum

      • Private bankers

      For private bankers, they are expected to work for a single high-profile individual or client. In contrast, managing their wealth, banking, investment, tax management, and other related financial services. Compared to the role of investment bankers, in private banking, you would have to concentrate on managing the funds of a single high-net-worth client. A private banker could earn an annual salary of Rs. 16 lakhs per annum. 

      • Market research analyst

      Market research analyst is a popular job role offered by top financial sector companies. In this role, you would have to analyze and gather financial data about the constant changes in the financial market. By constituting the reports, you would have to present them back to clients. 

      Moreover, you would also have to provide market recommendations and advice regarding the current condition of the financial sector. Both private and public equity firms are known for hiring CFA to seamlessly operate in a rapidly changing financial domain. Additionally, in this role, you could also work as a freelancer and consultant while not having full-time responsibilities. A market research analyst could expect an annual salary of Rs. 4.50 lakhs per annum. 

      Top Job Opportunities for CFA Abroad

      • Risk management

      Risk managers have a huge role to play in every organization that helps them avoid financial risks. In this job, the required candidate has to analyze, manage, and devise plans to help the organization function without financial burdens. To excel in this role, you need to have adequate negotiation and diplomacy skills. Meanwhile, your numerical skills should be advanced alongside quantitative and analytical abilities. Being a risk manager, you will be directly responsible for keeping the finances of your organization healthy and smoothly functioning. 

      • Equity analyst

      The majority of people who invest daily don’t have enough knowledge of financial markets. For them, getting an investment recommendation from CFA would be a huge advantage. The chartered financial analyst has a huge responsibility when working as an equity analyst. The people who possess excellent communication skills, research skills, forecasting abilities, and critical thinking abilities. They would be able to easily succeed in an equity analyst role while earning mammoth salaries. 

      Opportunities for Indians with a CFA Qualification in International Markets

      Indians who have decided to complete their CFA and look for jobs in international markets. For them, several job opportunities might be waiting where the skills and knowledge required could match your expectations. The popularity of CFA jobs is expanding globally, which has led to many candidates finding lucrative offers throughout. For instance, a global financial superpower like the United States of America has over 2661 jobs for CFA candidates. While a small country like Germany offers approximately 923 jobs, that is two times larger than other bigger nations. The international financial markets would help you get jobs in several sectors: 

      • Technology
      • Accounting and finance
      • Asset Management
      • Investment banking
      • Operations
      • Private equity and Venture capital
      • Consulting
      • Corporate banking

      Conclusion

      From reading this article, hopefully, you have been able to understand the global and Indian demand for chartered financial analysts in 2024. As a professional career option, choosing a CFA would be a huge advantage in forging a successful career. You could learn about the financial markets while helping different organizations avoid potential financial troubles. By raising capital and investing them wisely, each of those jobs can be easily sorted using the professional understanding of CFA. Furthermore, the salary of CFA in India is highly competitive compared to other international markets where the job positions are more lucrative. 

      FAQ

      Can an Indian CFA work abroad?

      Yes, an Indian CFA can easily work abroad in different financial positions that match their profile and skills. Due to the international recognition of CFA certification, it is fairly easy to get selected by renowned multi-national financial corporations. 

      What is the salary of a CFA in foreign countries?

      People having CFA designations would earn $50,000 to $100,000 in international markets. This salary package could get further boosted when you have several years of professional experience and skills. Moreover, during CFA, you could work and study at the same time. 

      Which country pays CFA most?

      Singapore is the country that is popular for paying CFA’s highest salaries, which could reach $70,000 per annum. India is also not far away in paying CFA lucrative salary packages like Rs. 20 lakhs to 35 lakhs. 

      Can CFA earn in crores?

      Any CFA who has been working in the financial sector for almost 15 years or more. They could start accepting earnings in crores annually by sharing their ideas and financial advising with renowned high-net-worth clients or top financial corporations globally. 

       

      Satyamedh Nandedkar, a seasoned finance professional, holds ACCA, CA, US CMA & CS credentials. With 10+ years of experience, he’s a master ACCA tutor, IFRS trainer, adept in global financial standards, and a trusted advisor in navigating complex financial landscapes.

      I hope you enjoy reading this blog post.

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