A Comprehensive Guide on Understanding CFA vs CA

CFA vs CA is a choice that every commerce student must make once in their lifetime. The decision between CFA or CA is crucial, as it can significantly impact one’s career path. With over 1 lakh students applying for the CFA exam and over 1.2 lakh for the CA exam each year, both are in-demand career options. But the question remains: what is the difference between CFA and CA, and which one should you choose?

Don’t worry after reading the article you will be able to choose the best course for yourself. So, let’s get started and know all about CA and CFA in detail.

Refer the following articles for recent updates of CA and CFA:

Latest scheme of ICAI : 2024

CFA curriculum changes : 2024

CFA vs CA- About

Chartered Financial Analyst (CFA)	Chartered Accountant (CA)
Chartered Financial Analyst is conducted by the CFA institute globally. The CFA course mainly consists of investment management and wealth management analysis. The CFA program focuses primarily on knowledge and expertise applicable to the investment and management profession.	Chartered Accountancy (CA) is conducted by the Institute of Chartered Accountants of India (ICAI). A chartered accountant, also known as Certified Public Accountant, is a professional accountant working with various accountancy firms or companies related to the same.

• Also Read:
• Complete Chartered Accountancy (CA) Course Guide
• सीए बनने के लिए क्या पढ़ें: सीए का क्या काम होता है?

CFA vs CA- Eligibility Criteria

According to the respective CA and CFA Institutes, the following is the minimum required time to acquire the CFA and CA designation.

Chartered Financial Analyst (CFA)	Chartered Accountant (CA)
1. Graduation in any discipline from any recognized institute. 2. Four years, approximately, to complete the program. 3. Six months of preparation for each exam. 4. Over 300+ hours of study time.	For Non-Graduates: 1. Candidates must clear the 10+2 examination from a recognized board/institute. 2. A minimum aggregate of 50% in class 12 examinations. 3. No age restrictions.  For Graduates: 1. A minimum aggregate of 50% for commerce graduates. 2. A minimum aggregate of 60% for non-commerce graduates.

CFA vs CA- Top Hiring Companies

Once a person clears the CFA exam or CA exam, they become eligible to apply for jobs. If you clear your exams with higher marks, then you can even get offers from the best companies for CA and CFA. Some of the top hiring companies for CA and CFA candidates are:

Chartered Financial Analyst (CFA)	Chartered Accountant (CA)
1. JPMorgan Chase 2. Royal Bank of Canada 3. Morgan Stanley Wealth Management 4. BofA Securities 5. HSBC Holdings 6. Wells Fargo and Company 7. Pricewaterhouse Coopers 8. BlackRock 9. TD Bank Financial Group	1. Deloitte India 2. Ernst & Young India 3. Price Waterhouse Coopers India – PwC India 4. KPMG India 5. Luthra & Luthra India 6.  Lodha & Co. 7. Grant Thornton International

Give a read to Salary and Top Recruiters for CA.

CFA vs CA- Responsibilities

Both CA and CFA play a crucial part in their company, there are certain tasks and responsibilities which can only be done by them. These are the responsibilities which CA or CFA has to fulfil.

Chartered Financial Analyst (CFA)

Chartered Accountant (CA)

1. Credit analysis. 2. Coming up with investment strategies and opportunities. 3. Investment banking. 4. Helping and consulting companies with stocks, financial assistance, and money-making investment opportunities. 5. Research and track the financial position of the company or an individual.

1. Head of the accounting department and overlook the duties for the same. 2. Creating and maintaining the accounting systems and processes. 3. Coordinate financial statements. 4. Prepare monthly financial reports. 5. Review and release online banking payments. 6. Ensure compliance with state revenue service. 7. Provide ongoing accounting and reporting support. 8. Manage the full financial process. 9. Prepare an expense budget report. 10. Financing reporting and auditing

CFA vs CA – Job Profiles

Chartered Financial Analyst (CFA)		Chartered Accountant (CA)
Career Prospect	Average Salary (in INR)	Career Prospect	Average Salary (in INR)
Research Analyst	3.5 LPA	Tax Auditor	5 LPA
Corporate Financial Analyst	7.5 LPA	Internal Auditor	3 LPA
Auditor	2.7 LPA	Accountant	2.5 LPA
Consultant	11 LPA	Forensic Auditor	7 LPA
Risk Manager	9.9 LPA	Management Accountant	9 LPA
Relationship Manager	3.5 LPA	Investment Banker	4 LPA
Credit Analyst	5 LPA	Management Consultant	22 LPA
Portfolio Manager	7 LPA	Government Accounting	4 LPA

Salary Source: AmbitionBox, Glassdoor

CFA vs CA- A Comparison

Both certifications have various classifications that are essential to differentiate. CFA must be a viable option for you if you want to acquire more knowledge and expertise in training in the financial or investment sectors as an analyst.

On the other hand, if you want to better your number-crunching skills, accounting, auditing, and taxation, you must consider CA as your career option. That makes choosing a little simpler to choose between CFA vs CA.

Now, let’s factor in and compare all the difference between CFA and CA at a glance.

Components	Chartered Financial Analyst (CFA)	Chartered Accountant (CA)
Organization	Chartered Financial Analyst Institute (CFAI)	Institute of Chartered Accountants in India (ICAI)
Academic Qualification Required	10+2 Examination	Graduation
Duration of the course	Divided into three levels, CFA requires a minimum of 4 years of work experience.	Divided into three levels, CA requires a minimum of 3 years of work experience.
Exam Type	MCQ paper-based exam	Subjective paper-based exam
Pass Percentage (Overall)	34.6%	25.28%
Core Area	Finance	Accounting, Taxation, Audit, Law, Finance
Focus subjects	Ethics Accounting Fixed Income Corporate Finance Equity Investments Portfolio Management	Business environment and its concepts Financial Accounting and Reporting Audit and Attestation Regulations
Job Profiles	Investment Banking Portfolio Management Equity Research Credit Analyst Chief Investment Officer Commercial Banking	Public Accounting Government Accounting Management Accounting Internal Auditing Bookkeeping Finance Controller
Average Income	Fresher: 6 Lakhs Experienced: 8 – 10 Lakhs	Fresher: 7 Lakhs Experienced: 10 – 20 Lakhs
Course Fees	₹3-3.5 lakhs approx	₹2-2.5 lakhs approx

You can analyse your choice of CFA vs CA by keeping the shared information in mind.

CFA + CA Certifications

You might be confused about CFA vs CA, but what about a combination of both of these degrees? Having a CFA certification along with a CA certificate is also possible. Pursuing CFA after completing CA is considered a profitable combination in the finance domain and will make you stand out among others. This path will certainly open new avenues for you in financing.

Chartered Accountants can easily clear the CFA level 1 exam. That’s one of the advantages of doing CFA after CA, as the syllabus for CA course overlaps with the syllabus of the CFA level 1 exam and is almost similar. A combination of CA+CFA not only broadens your horizon but also helps you understand the financial and auditing field better.

Many CA aspirants even head towards CFA, as it increases their hiring potential and demand within high-end firms. Companies always prefer individuals with deeper knowledge and expertise in the financial domain. Hence, the CA+CFA combination can be considered suitable for acquiring better position and increases your chances of getting associated with top-tier global companies.

Check Your Accountancy with Chegg

Do you know what you can earn while preparing for your CA or CFA exams. Yes, it is possible thanks to Chegg India. Chegg gives you the opportunity to become their Subject Matter Expert, and solve questions posted by students. With every correct answer not only, do you gain confidence in your knowledge but earn money too.

And Chegg is not only for Accounts students, anyone with expertise in any subject can go and register as Subject Matter Expert on Chegg. You just need to register yourself on the platform, go through a screening process and after verification you can start answering questions. There are numerous subjects like Accountancy, Economics, Statistics, Mathematics, Biology, Nursing, Earth Science and many more.

CFA or CA Choose Your Path

Choosing one from the best of the bests can be a puzzling task, in such situations comparing all the opportunities on various basis can help. Just like this piece where the comparison between CFA vs CA is done on a different basis.

If you are still confused then please re-read the information, and also do some more research. But in the end, it’s your call what you want to choose, and it is advised that you take your decision based on your passion, abilities and future goals. So, choose what’s right for you and All the Best for your Future.

Evaluate numerous career choices to choose the right career path for yourself. Dive in to our guide on Career Advice.

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