Make the right choice with CFA® Program

Anyone who has sat a CFA exam would know this is not possible, CFA requires countless hours of study. In contrast, ACCA is the best option for you if you want to work in the field of accounting, financial management, auditing, and taxation. It’s also ideal if you enjoy putting internal controls in place, preparing accounts, and running a finance and accounting division or a large corporation.

1. The CPA exam also has a much shorter time frame for completion, making it easier to study for than the CFA.
2. ‍You may pursue both CFA and ACCA together if you want to enhance your CV.
3. My cousins are doing / have done CA (rankholders) and I have done CFA, so needless to say, I have been constantly thrown this question time and again, so it’s a pretty legit though to compare CFA with CA.
4. Both professions require patience, hard work, and sincerity, and they’re both important jobs in their own right.
5. The 2023 changes from the CFA Institute do make the exam more appealing and relevant for many roles.
6. Clearly criticising CA in favour of CFA or stating CFA is way harder to pass and better in any way is a violation and disrespecting CA and the chartered holder of CA.

Some claim that CFA is harder than ACCA as only one in five candidates who enroll in the course successfully completes it. 3 Furthermore, it takes 4 years to complete the course vs. the 3 to 4 years more typiucal of the is cfa harder than ca ACCA student. And if you check the syllabus, CFA is indeed a “longer” qualification than ACCA. Although both CFA and CPA have some similarities in what they do, a CPA has more difficult responsibilities.

CPA Qualifications

The CFA Program and master of business administration (MBA) programs both offer benefits that can help you advance in your career. Although the programs have some similarities, key differences make the CFA Program particularly well suited to investment careers. Traditionally, MBA programs have been the conventional path taken for business management, and the typical program offers a broad business curriculum, which does include financial and investment aspects. The CFA Program curriculum, however, specifically focuses on investment analysis and portfolio management and provides deep knowledge of investment principles and ethics. Although top MBA programs do have wide networks, the CFA Program connects candidates to a global professional network of elite investment professionals. For example, some industry regulators even allow waivers and exemptions for candidates who successfully complete the CFA Program or certain exam levels.

If your passion lies specifically within investment management and financial markets, the CFA designation could provide significant advantages and higher earning potential in those areas. The actual starting salaries for these certifications can vary widely based on factors such as the size and reputation of the employer, as well as the candidate’s qualifications and work experience. The CFA Program is demanding, and the CFA designation is a testament to the knowledge, skills, and determination invested over three exams, professional requirements, references, and more. Certified Financial Planners (CFPs) are also widely respected financial professionals. The CFA charter provides flexible career opportunities to work more with people or with data, depending on your interests. ACCA’s focus is to cater to a broad range of accounting and finance topics.

If you’re willing to put in the time, effort, and dedication required by these two professions, you will succeed in either career path. It’s important to take time to consider your options and make sure that you’re choosing the right one. According to data by payscale, the average salary for a CFA range between $52,000 and $153,000 per year. This number can vary based on the type of employer, location of employment, and the individual’s experience. The Bureau of Labor Statistics reports that the number of people employed as accountants and auditors will grow by 19 percent from 2016 to 2026.

Ultimate US Dream: Pursue CPA, Start in India and Land Global Opportunities!

One of the duties of a Chartered Financial Analyst (CFA) is to create and maintain a variety of investment portfolios, including stocks, bonds, mutual funds, commodities, and more. The goal is to create a portfolio that will achieve the highest return with the lowest risk possible. Include questions about how changes in interest rates, inflation, and unemployment affect the business environment and how those changes affect a company’s financial statements. Generally speaking, CPA exams are more rigorous and demanding and you’ll need a considerable amount of professional credit hours before you obtain your license. In the US, you must pass a three-tier examination process to become a Certified Financial Analyst (CFA). It is distinct from the Chartered Financial Analyst professional qualifications offered by CFA Institute in the UK, Ireland, India, and Africa.

CFA mainly focuses on finance and is completely based on concepts. Moreover, complementary standards and codes (like the Global Investment Performance Standards and Asset Manager Code) enhance the profession’s distinctiveness. Individuals with a CFA certification are immediately hired by the big four—Deloitte, PwC, EY, and KPMG. A fresh CFA graduate can expect an average income of up to Rs. 4 lakhs. The CFA course on the other hand is a four-year commitment, including relevant work experience.

CPA Prometric Test Locations in India

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. Both are high-paying jobs, provide great perks, and are one of the most demanding and fascinating careers in the corporate world. Therefore, it is best to understand both courses before making any decision.

Pursuing CFA after CA is one of the best decisions one can make to further outgrow their careers. Firstly giving a glimpse into both the courses from a broad view. CFA is the most generic international course in finance, as it covers every topic of finance in absolute detail and it is the most highly recognized and respected course in the field of finance throughout the world.

1. It’s also ideal if you enjoy putting internal controls in place, preparing accounts, and running a finance and accounting division or a large corporation.
2. With a bit of hard work , finance aptitude and reasoning skills you can do it.
3. A fresh CFA graduate can expect an average income of up to Rs. 4 lakhs.
4. The exam emphasizes the application of knowledge, skills, and abilities to a variety of situations that occur in a professional setting.
5. So, if you’re in a country where the CFA is highly valued, and many bankers have it, passing Level I at some point may make sense.

But it’s an incremental shift because you’re still looking at 300 hours just for Level I. Even though both CFA and ACCA are from related fields of study, still there are great differences between them in terms of their course structure, expected salary, scope, etc. which have been stated below, in a tabular form. No doubt some of the CA’s are very rich in India but they are not doing account/audit related jobs.They are either in some managerial roles or IB roles. I am not at all underestimating you.You are underestimating your self.Give a CFA level exam and you will understand it your self. You can start doing CFA with graduation .With a backround in CA you will have lot of help in subjects like FSA and equity . With a bit of hard work , finance aptitude and reasoning skills you can do it.

ACCA vs. CPA vs. CFA – Which Qualification to Get?

ACCA is a professional accounting qualification offered by an international body, while an accounting degree is an academic degree offered by a university. The ACCA qualification is the equivalent of a postgraduate/masters level qualification, and sets candidates apart from those who merely have the foundational knowledge conferred by an accounting degree. On the other hand, the CPA exam is based on more general knowledge of accounting principles used in the everyday business world. The CPA exam also has a much shorter time frame for completion, making it easier to study for than the CFA.

Within deal-based roles, the CFA has its uses for certain candidates and in certain regions – but it still wouldn’t make my “Top 5 Things to Do to Get into Investment Banking” list. In fields outside IB/PE, the CFA ranges from “potentially useful” to “near requirement,” so it’s impossible to make a universal statement about its relevancy. For example, if you’ve worked in corporate law for several years and cannot quit to complete an MBA, the CFA could be a helpful signaling tool. Especially in many emerging markets, certifications like the CFA or CA (Chartered Accountant) can be more valuable. You need early finance internships in university to put yourself in the running for an internship at a large bank later, as the recruiting timeline starts ridiculously early. In this field, certifications barely matter vs. work experience, academics, interview preparation, and networking.