Many commerce students often need clarification on two top career paths: CA or CFA Which is a Better option? In the business sector, becoming a chartered accountant (CA) or chartered financial analyst (CFA) can lead to rich careers, additional benefits, and fulfilling chances.
Let’s examine the variations between each profession in terms of eligibility, career opportunities, and future potential to assist you in making an informed choice.
What is CFA?
The esteemed Chartered Financial Analyst (CFA) certification prepares students with an in-depth understanding of investment and money management. The CFA Institute offers a globally recognized test. It’s a well-liked professional choice in India and worldwide.
What is CA?
The highly esteemed field of chartered accountancy trains students in general management, taxation, auditing, and accounting. A popular career choice in India, it is overseen by the Institute of Chartered Accountants of India (ICAI). Chartered accountants can work in a variety of industries and are the only experts qualified to audit financial accounts.
CA and CFA Difference
When comparing CA or CFA Which is a Better choice? It is essential to consider key factors such as course duration, fees, focus areas, and career opportunities. Both degrees offer distinct job prospects and provide unique benefits. Here’s a detailed comparison between CA and CFA:
| Parameters | CA | CFA |
| Duration | CA courses last 4.5 years, including three years of training. | The CFA training takes 3-4 years to complete all three tests. |
| Fees | 1-2 lakhs | 2-2.5 lakhs |
| Focus | accounting, taxation, law, audit, and finance | finance |
| Exam Details | CA Exam includes 3 levels- CPT, IPCC, and CA Final | CFA Exam includes 3 levels- Level I, Level II, and Level III |
| Exam Pattern | Subjective-type | Objective-type |
| Career Options | Students can pursue careers in Internal Auditing, Taxation, Accounting and Finance, Taxation Advisory, Statutory Audit, Bookkeeping, and Finance Controller, etc. | Students can work as portfolio managers, research analysts, consultants, risk managers, chief investment officers, asset managers, private wealth managers, investment bankers, and so on. |
| Average Salary | INR 7-15 LPA | INR 9.8-44 LPA |
CFA Course: Duration, Exam, and Scope
The CFA exam has three levels: Level I, Level II, and Level III. Students must have a bachelor’s degree or more than 4000 hours of work experience to be considered eligible. The CFA course takes 3-4 years to complete, including all exams.
However, it is optional to finish all of the exams in one sitting. Regarding scope, CFA experts are in high demand, particularly in the investment sector.
CA Course Duration, Exam Type, and Scope
The CFA exam is divided into three parts: Level I, Level II, and Level III. For consideration, applicants must hold a bachelor’s degree and more than 4,000 hours of work experience.
The CFA course takes 3-4 years to complete, including all exams.
It’s not required to complete every test in a single sitting, though. In terms of scope, CFA specialists are highly sought after, especially in the financial industry.
CA or CFA Which is a Better Option in India?
It can be not easy to decide between two reputable qualifications, such as the CFA and the CA, and which is better. In the corporate world, becoming a CFA or CA can lead to rewarding careers with high demand, growth potential, and high salaries.
To determine which option is best for you, consider your passions and areas of interest. If you have a strong interest in finance, CFA is the best option. However, you have to choose CA if taxes and accounts really interest you.
In general, professionals seeking employment opportunities in India tend to choose CA, while those seeking global employment opportunities tend to choose CFA. Chances for CFA professionals are increasing concurrently with the growth of MNCs and startups in India.
Thus, there is a great demand for both CFA and CA in India. Overall, the choice between a CA vs CFA depends on your professional journey preferences and career goals.
Combining CA with CFA
If you’re still undecided, you can do both CA and CFA courses. Furthermore, it gives you an advantage over other students because you are adept in both finance and accounting. However, combining both courses requires additional commitment and effort. So, only enroll in both classes if you are capable of managing both.
Final Words
Both CA and CFA are prominent qualifications with distinct focus areas and benefits. When picking between CA or CFA Which is Better, it’s critical to understand their respective courses. For those looking for work in finance-related fields domestically or interested in accounting, auditing, taxation, and regulatory legislation in India, becoming a chartered accountant (CA) is a great alternative.
The CFA (Chartered Financial Analyst) program is ideal for finance admirers with a global perspective, focusing on investment management, financial analysis, and portfolio management. If you’re deciding between the CFA and other certifications, consider your interests, aspirations, and long-term career goals. For those seeking comprehensive learning resources, Lecture Kharido offers valuable Courses and materials to guide your CFA preparation journey.
FAQs
Q.1 Is CFA easy for CA?
Ans. CFA is extremely easy for CAs because they already have a strong foundation in finance, accounting, and business concepts that correspond to the majority of the CFA curriculum.
Q.2 Is the CFA tough or easy?
Ans. CFA is considered difficult due to its extensive curriculum, in-depth financial concepts, and time commitment. Success is determined by prior knowledge, study discipline, and exam strategy.
Q.3 What is the salary of a CA with a CFA?
Ans. A CA with CFA can make ₹12-25 lakhs per year in India, depending on experience, area, and industry demand.
Q.4 Which level of CA is the toughest?
Ans. The CA Final is widely regarded as the most challenging level because of its complex themes, case studies, and strict preparation requirements.
