CFA Scope: Salary, Job Roles, Career after Chartered Financial Analyst
Vidhi JainContent Writer
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.
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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.
Entry-Level CFA Jobs
Here are some entry-level popular CFA jobs and salary options for new graduates and freshers in India:
|
Job Profiles |
Average Salary |
|---|---|
|
Financial Associates |
INR 4.7 LPA |
|
Financial Analysts |
INR 6.2 LPA |
|
Internal Auditors |
INR 5.3 LPA |
Note: The salary information is taken from Ambitionbox.com.
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Mid-Level CFA Jobs
Here are some mid-level popular CFA jobs and salary options for professionals who have certain work experience in the industry:
|
Job Profiles |
Average Salary |
|---|---|
|
Depositary Compliance Consultants |
INR 7.9 LPA |
|
Relationship Managers |
INR 5.1 LPA |
|
Portfolio Managers |
INR 12.9 LPA |
|
Investment Officers |
INR 9.9 LPA |
|
Actuarial Analysts |
INR 7.7 LPA |
Note: The salary information is taken from Ambitionbox.com.
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Senior-Level CFA Jobs
Here are some senior-level popular CFA jobs and salary options for professionals who have gained relevant good years of experience, say 5-10 years in the industry:
| Job Profiles | Average Salary |
|---|---|
| Chief Investment Officers | INR 50 LPA |
| Director of Operations | INR 38.9 LPA |
| Finance & Accounts Head | INR 27.3 LPA |
Note: The salary information is taken from Ambitionbox.com.
Departments-Wise CFA Salary
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 countless 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:
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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 is 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.
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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 & complete 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. 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.
Q. Which is the highest-paying job after CFA?
A. The highest-paying role after CFA is that of a Chief Investment Officer (CIO), having an average salary of INR 50 LPA in India. Other top profiles include Head of Portfolio Management, Finance & Accounts Head, etc. However, these job roles are earned after years of practice and relevant industry experience. CFA Professionals can get these job roles relatively early, with expertise and skills.
Q. In which area do CFA professionals get employed?
A. After gaining the CFA certificate, CFA Charters are mainly employed in industries like Investment Firms, Banks, Financial Advisory Firms, MNCs, Insurance Companies, Government Financial Agencies, etc.
Q. What is the scope of CFA certificate abroad?
A. The CFA designation is globally recognized, hence, it eventually opens doors to all the finance-related employment areas for CFA Charters across the world. Additionally, CFA Charters are in high demand across various world-class financial organizations due to the limited number of CFA Charters around the globe.
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Student Forum
Anything you would want to ask experts?Answered 2 months ago
The passing rate for CFA exams helps you set realistic goals and track progress. As per the official website of the CFA Institute, the pass rate of the CFA Level I exam is between 43 and 45%; for CFA Level II exams, the passing rate usually fluctuates between 39 and 54%; and the CFA Level III exam p
V
Contributor-Level 10
Answered 2 months ago
The general CFA course duration is 3 years to 4 years, which includes the completion of all 3 levels with a recommended study time of 300 hours per level. It is important for you to note that if you wish to use the CFA Charterholder designation, you should have a minimum of 4,000 hours of relevant w
V
Contributor-Level 10
Answered 2 months ago
Yes. You need a valid international travel passport to register for the CFA exam. The passport needs to be original, without any scope for falsification, make sure it is not expired, and your credentials should match with those in your CFA Institute account.
V
Contributor-Level 10
Answered 2 months ago
Work experience is a mandatory requirement for obtaining the CFA charter. You need to have at least 4,000 hours of work experience and/or higher education that was acquired over a minimum of three years. If you plan to combine both to achieve the minimum hours and years, it is assumed that higher ed
V
Contributor-Level 10
Answered 2 months ago
The average CFA salary in India differs based on the experience and the certification level obtained by you. I guess that the estimated CFA level I salary is around INR 4 LPA to 6 LPA, and if you complete CFA level II your salary will increase to around INR 7 LPA to 12 LPA. The highest CFA level III
V
Contributor-Level 10
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