#CareerBytes: What are the benefits of doing CFA after CA?
Chartered Accountancy (CA) and Chartered Financial Analyst Program (CFA) are two of the most in-demand career options. While CA is a sought-after course in India, CFA is a globally-recognized professional qualification. Pursuing CFA after CA will give candidates an edge over others. Also, CA+CFA is one of the most-desired combinations in the field of finance. Here are some benefits of pursuing CFA after CA.
A little about CA and CFA professional courses
The CA course is offered by the Institute of Chartered Accountants of India (ICAI) while the CFA program is offered by the CFA Institute based in the US. Both the professional qualification programs are divided into three levels. While the CA course deals with accounting, taxation, law, and audit, the CFA program focuses more on finance, investment, wealth management, stock market, portfolio analysis, etc.
The CA+CFA combination will open new avenues in finance
The CFA program is perfect for CAs who are interested in building a career in hardcore finance, especially at the global level. Obtaining a CFA certification will open new avenues for CA candidates and help them gain knowledge about various aspects in the field of finance, including investment banking, portfolio management, wealth management and planning, corporate finance, credit research, etc.
#2: Clearing CFA Level I is comparatively easy for CAs
Another advantage of opting for CFA after completing CA is that clearing the Level I of the CFA Program wouldn't be too difficult for candidates who are already Chartered Accountants. A majority of the CA syllabus overlaps with that of the CFA Level I exam.
Increased chances of getting into global firms
Many Chartered Accountants are nowadays choosing the CFA program because of the rise in demand for financial analyst professionals, especially at top global companies. While CAs are also hired by such companies, CA+CFA holders will have better chances as most firms seek to hire experts with deeper knowledge in the financial domain. It is considered the best combination of skills for financial professionals.
CA & CFA will add more value to one's profile
The CA & CFA combination helps the candidates obtain an all-round knowledge in finance as well as have global recognition. After pursuing both these programs, the candidates will not only gain sound financial understanding but also develop good analytical skills along with the knowledge of applying the same practically. These qualifications will also add more value to the candidate's profile.
After pursuing CFA program, one can earn better salary
Candidates can also enjoy better salaries after completing the CFA program. A fresher CA can get a mean salary of Rs. 6 lakh a year. On the other hand, after completing the CFA Level I certification, one can get a mean salary of Rs. 4.5-5.5 lakh. After completing all three levels of the CFA program, one can earn a salary of Rs. 6-15 lakh.