CFA Career Scope: Jobs, Placements, Salary, Top Recruiters/Companies
Pragati SinghSenior Executive - Content
CFA full form is Chartered Financial Analyst, a postgraduate professional certification program offered internationally by the US-based CFA institute (formerly AIMR) to investment and financial professionals. Candidates who complete the program while meeting other requirements are awarded a "CFA Charter" and become a "CFA Charter-Holder".
Employers value the CFA designation for positions and responsibilities in all areas of the Global Finance Industry, such as Private Wealth, Analysis, Portfolio Management, and Consulting. Along with this, professionals also seek CFA career scope in Asset Management, Private Wealth Management, Commercial Banking, Investment Banking, and Insurance sectors.
According to the Bureau of Labor Statistics, the average median pay for a Financial Analyst is INR 83.8 LPA, which makes it, one of the highest-paid professions worldwide. However, CFA certification requires candidates to study rigorously and fulfil all the requirements. IMS ProSchool, Narayana Business School, CCOFP, and Miles Education are some of the top institutes that help candidates prepare for CFA exams.
The CFA eligibility criteria to become a CFA Charter-Holder is to obtain a bachelor's degree or to be in the final year of the bachelor's program, have 4,000 hours or over a minimum of 3 years of relevant professional experience, and pass all three levels of the CFA course, i.e., CFA Level 1, CFA Level 2, and CFA Level 3. Exams for all three levels are conducted by asking questions related to Economics, Security Analysis, Accounting, and Wealth Management.
Interested candidates can continue reading the article to get more CFA career scope details.
Links relevant to CFA Career Path:
When is the CFA Exam? Check Complete CFA Exam Dates and Events
- Pros and Cons of a CFA Certification
- Top Job Profiles and Salaries of CFA
- 2.1 CFA Salary: Departments-Wise
- CFA Core Industries
- 3.1 CFA Top Recruiters
- Skills Required for a CFA
- CFA Career FAQs
Pros and Cons of a CFA Certification
Earning the CFA may be a lengthy, expensive, and extremely difficult process and not be appropriate for every financial professional. Candidates who are planning to pursue the certification can take a look at this section to make an informed decision:
Pros:
- Globally Recognized: Chartered Financial Analyst certification is globally recognized, hence, professionals can seek career opportunities anywhere in the world.
- Knowledge Gain: CFA students get a solid, comprehensive, and updated financial grounding.
- No Career Pause: CFA preparation can be done while doing another desk job.
- Career Options: CFA aspirants can choose employment options from a variety of job sectors like Accounting/Audit/Tax, Banking, Compliance/Regulatory, Corporate Finance, Credit, Analysis, Economics, and more.
Cons:
- Huge Time Investment: Becoming a CFA is a huge investment in time, between studying for and taking the exams and logging the minimum 4,000 hours of experience required over 36 months.
- Higher Cost: A level I candidate will pay a one-time program enrollment fee plus an exam registration fee. Level II and III candidates will pay a registration fee as well. There is also the cost of the books and study programs.
- Lesser Possibilities: There are 50% probability of not earning the CFA charter after investing time, money, and effort in the certification, which sometimes leads to discouragement among students.
Useful Links for CFA Careers India:
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Top Job Profiles and Salaries of CFA
The Banking Finance, and Insurance (BFSI) sector has endless fields for employment such as Banking, Portfolio Management, Compliance Management, Corporate Finance, Risk Management, and more. CFA Charters can opt for any field depending on their interest and expertise, attracting a good salary package. Among countless CFA jobs for freshers’ and experienced professionals, here are some top job profiles, one can seek employment for:
| Job Profiles |
Job Description |
Average Salary |
|---|---|---|
| Financial Associate |
They prepare budgets, compile financial reports, analyze data, financial trends, and more. |
INR 4.7 LPA |
| Financial Analyst |
They analyze the company's past financial data to spot trends and assess risks, predict outcomes for business decisions, identify sale or purchase opportunities and make investment recommendations. |
INR 6 LPA |
| Internal Auditor |
They do overall supervision of planned annual audits, conduct operational audits, conduct compliance analysis, create audit plans, etc. |
INR 5.1 LPA |
| Depositary Compliance Consultant |
They implement and monitor the bank's Compliance Management Program to ensure the bank is in compliance with its policies and procedures and with banking laws and regulations |
INR 13.7 LPA |
| Relationship Manager |
They ensure customer satisfaction and retention by understanding their needs, preferences, and concerns — and providing personalized service and support. |
INR 4.9 LPA |
| Portfolio Manager |
They devise and implement investment strategies and processes to meet client goals and constraints, construct and manage portfolios, make decisions on what and when to buy and sell investments. |
INR 12.4 LPA |
| Investment Officer |
They identify business opportunities and secure investments that promote the financial interests of an organization. |
INR 10 LPA |
| Actuarial Analyst |
They use statistical models to analyze data and assess risk. They are employed in many industries, particularly in insurance, to utilize their knowledge and skills to design and price insurance policies. |
INR 7.5 LPA |
Note: The salary information is taken from Ambitionbox.com.
Recommended Links for CFA Career Path:
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CFA Salary: Departments-Wise
CFA Charters are required in almost every department of a company and can kick-start their career in any financial department according to their skills and interests. But, the salary package for every department and designation varies. Candidates can check out the table below to find the average salary offered in different Financial departments:
| Financial Departments |
Average Salary Offered |
|---|---|
| Financial & Accounting |
INR 4 LPA |
| Procurement & Supply Chain |
INR 3.8 LPA |
| BFSI, Investments & Trading |
INR 4.5 LPA |
| Customer Success, Service & Operations |
INR 3 LPA |
| Marketing & Communication |
INR 2.1 LPA |
| Human Resources |
INR 4.5 LPA |
| Healthcare & Life Science |
INR 5 LPA |
Note: The salary information is taken from Ambitionbox.com.
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CFA Core Industries
The title of “Chartered Financial Analyst” is the name only, the career paths available are broad and varied. CFA Charters can choose from a range of job sectors. Here are some CFA core industries options:
| CFA Core Industries |
||
|---|---|---|
| Accounting/Audit/Tax |
Investment Advisor/Consultant |
|
| Equities Research: Buy Side |
Management Consulting |
|
| Compliance/Regulatory |
Equities Research: Sell-Side |
Multimanager Strategies |
| Corporate Finance |
Fixed Income Research: Buy Side |
Marketing and Public Relations |
| Credit Analysis |
Insurance |
Operations |
| Performance Analysis |
Portfolio Management: Fixed Income |
Relationship Management |
| Portfolio Management: Alternatives |
Portfolio Management: Multi-Asset |
Risk Management |
| Portfolio Management: Equities |
Private Equity/Venture Capital |
|
Note: The information is sourced from external sites and may vary.
CFA Top Recruiters
There are uncountable banks, financial firms, CA firms, MNCs, etc., that hire CFA Charters for numerous job roles. Here are some top CFA recruiters:
| CFA Top Recruiters |
|
|---|---|
| HDFC |
Kotak Mahindra Bank |
| Goldman Sachs |
Deloitte Consulting |
| Max Life Insurance Co. Ltd. |
Aditya Birla Sun Life Insurance Co. Ltd. |
| McKinsey & Company |
JP Morgan |
| ICICI Bank |
TATA AIA Life Insurance Co. Ltd. |
| EY (Ernst & Young) |
KPMG |
Note: The information is sourced from external sites and may vary.
Suggested CFA Career Readings:
CFA Exam: Cost, Curriculum and Difficulty Level
Skills Required for a CFA
Employers value the following skills, which the CFA course of study can identify. To get the CFA charter, a student must pass three exams. "Exam Information, Dates and Fees," CFA Institute. While each exam covers a different component of the course material, the CFA Institute identifies the following as the major topics.
| Main Topics of CFA |
|
| Ethical and Professional Standards |
Equity Investments |
| Quantitative Methods |
Fixed Income |
| Economics |
Derivatives |
| Financial Statement Analysis |
Alternative Investments |
| Corporate Issuers |
Portfolio Management and Wealth Planning |
Note: The information is sourced from external sites and may vary.
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Scholarships for Commerce Students
CFA Career FAQs
Q. What are the requirements to obtain a CFA certificate?
A. The requirements to become a CFA Charter-Holder are as follows:
- The candidate must pass all three CFA course levels (CFA Level 1, CFA Level 2, and CFA Level 3) and have completed or be in the final year of a bachelor's degree program.
- They must also have 4,000 hours or more of relevant professional experience. Questions about Economics, Security Analysis, Accounting, and Wealth Management are asked on exams for all three levels.
Q. What are the challenges faced while pursuing CFA certification?
A. Here are some challenges aspirants may face while preparing for the CFA certification:
- High Competition: The market is getting saturated as more finance professionals decide to pursue the CFA designation. Candidates must set themselves apart from the competition and constantly improve their abilities.
- Economic Fluctuations: Job availability and compensation packages may be impacted by national and international economic conditions. For instance, hiring freezes and bonus reductions may occur during economic downturns.
- Quick Shifts in Technology: Because of the emergence of FinTech, algorithmic trading, and AI-driven financial models, CFAs must be technologically literate and flexible.
- Regulatory Shifts: Professionals must continuously refresh their knowledge and adjust to the ever-changing landscape, as India's financial regulations are subject to periodic changes.
Q. Is CFA a good career option?
A. CFA is indeed a great option for students interested in the BFSI sector. It offers endless employment opportunities in numerous sectors with a good salary package. The average salary of a Chartered Financial Analyst globally is INR 83.3 LPA. However, the designation and salary also depend on the employer, relevant experience in the field, and skillset.
Q. What is the top job profile for the CFA Charter in India?
A. A CFA Charter can go for a range of job options in India in Banking, Finance, Insurance, and more sectors. However, it is difficult to consider a specific salary package for a job role as the salary completely depends on the employer and the experience holder. The average salary of a Portfolio Manager in India is INR 12.4 LPA.
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Student Forum
Anything you would want to ask experts?Answered a week ago
Some of the highest paid CFAs are as follows:
- Junior Analyst: INR 6 Lacs to INR 10 Lacs per year
- Chief Investment Officer: INR 40 Lacs to INR 1 crore+ per year
- Investment Banker: INR 10 Lacs to INR 30 Lacs per year
- Portfolio Manager: INR 18 Lacs to INR 40 Lacs per year
M
Beginner-Level 4
Answered a week ago
In India, CFAs earn better than CAs as average salary for CAs is INR 7 to 15 LPA, while for CFAs it is INR 9 to 40 LPA. However, it can vary based on the location, experience and designation.
R
Beginner-Level 4
Answered a week ago
CFA was earlier known as the Association for Investment Management and Research, CFA Institute (AIMR). Through its tests and certifications, the CFA Institute ensures that there are financial experts who have a high standard of excellence. The CFA Institute offers an Investment Foundations Program a
M
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Answered 3 weeks ago
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I want to know that CFA SPSAT CUET AMU LUACMAT URATPG By giving which exam I'll get the best package, less package. For BBA
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Answered 2 months ago
The CFA Program enables candidates to customize their preparation to match their individual needs and circumstances. Following are some numbers to consider in planning a study strategy for the CFA Level II exam.
- Successful candidates report studying on average over 300 hours for each level of the CFA
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The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. Here are its main features:
- Education: The CFA Institute offers educational programs, including a digital learning platform with study tools, practice questions, and
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Answered 2 months ago
CFA full form is Chartered Financial Analyst. It's a professional certification program that teaches students about investment analysis and other areas of finance. The CFA program is offered by the CFA Institute, a US-based organization. The CFA program is designed to:
- Provide students with the skill
A
Contributor-Level 10
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