Explore CFA career scope, salary trends, and placement opportunities in India. Know top recruiters, job roles, and packages for CFA charter holders. India is one of the fastest-growing markets in the eyes of the investment giants and is expected to grow significantly in the next decade.
- CFA Placements and Career Scope in India
- CFA Salary in India
- Top Recruiters of Chartered Financial Analyst
- Job Offers for Those Who Cleared the CFA in the First Attempt
- Average Salaries for CFAs in Other Countries
CFA Placements and Career Scope in India
After successful completion of all three levels of the CFA examination, certified financial analysts get placed as financial and investment advisors in leading corporations, multinational companies, financial houses, and other big organisations. Hence, with the growing industries in India, CFA professionals have a wide scope. Their roles and responsibilities are not limited to finance, derivatives, equity or bonds. The role of CFAs as Accountants and Auditors, Risk Analysts, Credit Analysts, Portfolio Managers, Investment Strategists and Chief Investment Officers will continue to exist with optimal performance quotient for many years.
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Future of Finance Professionals in India
India has the potential to become the future investment hub of the world. Our country is one of the fastest-growing markets in the eyes of the investment giants and is expected to grow by up to 33 per cent in the next decade. India enjoys strong economic growth and there is an increasing demand from the population for financial services. Thus, India enjoys favourable globalisation and positive trends in investment technologies.
The Level II curriculum for the CFA exam has not changed much. It has gone through the same review to improve the instructional design, all current topics have been maintained. The Level III candidates will have the opportunity to choose to be tested on a specialization. The core of the curriculum will remain the same, but candidates will have the opportunity to focus a percentage of their Level III effort on one of three specialised paths: portfolio management, private markets, or private wealth management.
The CFA syllabus is considered the toughest amongst all the finance professional courses. CFA Level 1 syllabus is also considered tough, but it is not the toughest among the three levels of the CFA exam. Candidates must dedicate at least 300-400 hours to cover and prepare for the CFA Level 1 exam syllabus.
Taking up a profession as a Chartered Financial Analyst in India is rewarding, as the professionals find themselves in the most prospective and highly paying CFA jobs in India and abroad. The position of multinational investment firms in India promises to offer more investment and operational roles for the Chartered Financial Analyst in the country.
CFA Careers: What Do CFA Charterholders Do?
Earning a Chartered Financial Analyst charter opens various doors for career opportunities in the field of finance, ranging from wealth and asset management, investment banking and commercial banking to consulting. The average total of the CFA salary in India across all job functions ranges between INR 10 LPA to INR 12 LPA, which can change depending on the job role, experience, and organisation. According to a survey by the CFA Institute, here is a breakdown of what the CFA charterholders do:
| Career Path | Percentage |
|---|---|
| Portfolio Management | 25% |
| Investment and Research Analysis | 12% |
| Consulting | 10% |
| Risk Management | 7% |
| Relationship/ Wealth Management | 5% |
| Financial Planning | 3% |
| Investment Strategy | 7% |
| Credit Analysis | 5% |
| Trading | 4% |
| Audit and Accounting | 4% |
| Other | 9% |
CFA Salary in India
The detailed salary structure of the different roles that Chartered Financial Analysts can take up after completing their certification is as follows. Check out the table below to know the average salary of professionals after completing the CFA course in India:
| Job Role | Entry-Level (0-2 years) | Mid-level (3-7 years) | Senior-Level (8 years and above) |
|---|---|---|---|
| Financial Analyst | INR 2.2 LPA to INR 9 LPA | INR 10 LPA to INR 15 LPA | INR 16 LPA to INR 25 LPA |
| Portfolio Manager | - | INR 11 LPA to INR 20 LPA | INR 21 LPA to INR 25 LPA |
| Vice President in Finance | - | INR 30 LPA to INR 50 LPA | INR 51 LPA to INR 80 LPA |
| Senior Financial Analyst | - | INR 12 LPA to INR 20 LPA | INR 21 LPA to INR 33 LPA |
| Chief Investment Officer (CIO) | - | INR 55 LPA to INR 1.5 CPA | INR 1.5 CPA to INR 2.5 CPA (and above) |
| Chief Financial Officer (CFO) | - | INR 50 LPA to INR 1 CPA | INR 1 CPA to INR 2 CPA (and above) |
The CFA syllabus covers topic areas related to investment management, financial analysis, ethics, and professional standards. Main topics are:
1. Ethics and Professional Standards
2. Quantitative Methods:
3. Economics:
4. Financial Reporting and Analysis
5. Corporate Finance
6. Fixed Income
7. Equity Investment
8. Derivatives
9. Alternative Investments
10. Portfolio Management and Wealth Planning
These main topic areas are present across all three levels of the CFA exam. The complexity increases with each passing level.
Also Read: How to become a Chief Financial Officer?
Other CFA Jobs in India
Check out the table below to know the other job opportunities for CFAs in India:
| Job Role |
Remuneration (in INR)* |
|---|---|
| Portfolio Manager |
INR 20 LPA to INR 45 LPA |
| Finance Manager |
INR 4 LPA to INR 34 LPA |
| Equity Research Associate |
INR 8 LPA to INR 25 LPA |
| Chartered Financial Analyst |
INR 7 LPA to INR 1.5 crores |
| Research Analyst |
INR 1.9 LPA to INR 11 LPA |
| Credit Analyst |
INR 2.4 LPA to INR 16.3 LPA |
| Senior Business Analyst |
INR 5.6 LPA to INR 26 LPA |
| Associate in investment banking |
INR 2.6 LPA to INR 40 LPA |
| Equity Analyst |
INR 2.8 LPA to INR 25.7 LPA |
| Investment banker |
INR 25 LPA to INR 60 LPA |
Top Recruiters of Chartered Financial Analyst
Some of the Top Recruiters of CFA graduates in the country are J.P. Morgan and Co., The Goldman Sachs Group, HSBC, Crisil, Credit Suisse, etc. The pay ranges of the CFAs as certified by the employer are as follows,
| Recruiters |
Salary Package (in INR)* |
|---|---|
| JP Morgan and Co |
INR 15 LPA to INR 60 LPA |
| The Goldman Sachs Group Inc. |
INR 14 LPA to INR 58 LPA |
| HSBC |
INR 6 LPA to INR 16 LPA |
| Crisil |
INR 5 LPA to INR 25 LPA |
| Credit Suisse |
INR 10 LPA to INR 40 LPA |
| Deloitte |
INR 18 LPA to 30 LPA |
| Ernst and Yong |
INR 12 LPA to INR 50 LPA |
| PWC |
INR 17 LPA to INR 21 LPA |
| KPMG |
INR 11 LPA to INR 40 LPA |
| SBI |
INR 5 LPA to INR 15 LPA |
| Standard Chartered Bank |
INR 8 LPA to INR 40 LPA |
| HDFC Bank |
INR 10 LPA to INR 50 LPA |
Job Offers for Those Who Cleared the CFA in the First Attempt
The job offers and the pay package for those who cleared the CFA exams in the first attempt is comparatively high. But there is not much difference in the availability of jobs and salary packages of those who cleared the exam in their first or second attempt. But the number of attempts does matter in grabbing a top-paid job with some of the top recruiters in the country. Firms such as Deloitte, KPMG and other top audit firms offer jobs with attractive pay packages even if they have passed in at least two or three attempts. More than the number of attempts, it is only the practical exposure of the candidates along with their decision-making ability, leadership skills, and communication skills that help them in fetching some of the highest-paid CFA jobs in the finance and investment industry.
Average Salaries for CFAs in Other Countries
The UAE is the most preferred destination for CFAs from different countries as it is one of the flourishing cities and an excellent employment hub of the world. The salary of CFAs in UAE is very lucrative and a fresh CFA can get around AED 8,000-10,000 per month even in a mid-sized organisation. For those professionals with 2-5 years of experience, the average pay package is between AED 60,000 apart from other benefits.
The pay package of Chartered Financial Analysts in the United Kingdom is between £ 48,000-62,000. The remuneration of these professionals in the United States of America is $ 40,500- $ 54,680.
Hence, CFA has emerged as a popular career choice for students. The CFA course offers extensive scope and lucrative job opportunities as aspirants can build a strong career after completing the course.
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CFA Institute provides the official CFA curriculum but students can always use third-party study material to enhance their CFA exam preparation. Students should opt for study resources from reputable sources. Look for CFA books and study material which explains complex topics and concepts. The CFA Institute provides a list of approved prep providers on its website, which can be a good starting point.