CFA Jobs & Salaries In India After CFA Level 1, Level 2 & Level 3 (2026 Guide)

If you enjoy markets, numbers, and business, you’ve probably heard of the CFA Program.

For many students in India, CFA is now an opportunity to:

• Get good finance jobs
• Work with top global companies
• Earn higher salaries over time

But one major question remains on everyone’s minds:

What are the job prospects and cfa salaries in India after CFA Levels 1, 2, and 3?

That’s the question this blog post will answer, in terms anyone can understand, employing the most up-to-date data available through 2025–26.

Opportunities for CFA charterholders in India (2026 and onwards)

The demand for skilled finance professionals in India is increasing rapidly.

Some key points:

India’s markets are expanding. More individuals are putting their money into mutual funds, stocks, and exchange-traded funds.

International firms are creating offices and back-end finance operations in India.

Finance is now the number one career preference for a large fraction of young graduates all over the world, and India is no exception.

According to another CFA Institute report on India, the new CFA charterholders with approximately six years of work experience earn ₹28.6 lakh per year, while the median compensation from a new Level 1 candidate to a charterholder is ₹9.8 lakh to ₹44 lakh per year.

As a result, India-based CFA professionals are engaged in:

• Investment banking
• Equity research
• Portfolio management
• Wealth management
• Risk management
• Corporate finance and strategy

So not only is the range wide, it’s increasing each year.

CFA Salaries in India: The Big Picture

But first, let’s look at the larger trend, and then we’ll go level-by-level.

A few other sources covering CFA salaries in India show these patterns.

These numbers are not set in stone for all. Your pay depends on:

• Your past experience.
• Which company you join.
• Which city you work in.
• Skills like financial modelling, communication, and tools, etc.
• Details of any other qualifications like MBA, CA, etc., if any.

Why CFA Level 1 Is In Demand in 2026?

The CFA Level 1 is like the opening (login) gate to enter the world of CFA.

It tests you on:

• Basics of investments
• Financial reporting and analysis
• Quantitative methods
• Economics
• Corporate finance
• Ethics

Why do companies like CFA Level 1 pass candidates?

Clearing Level 1 highlights that:

• You are really serious about having a future in finance.
• You can easily manage a global exam file syllabus.
• You get some foundational terms that you don’t learn on the job.

For this reason, a lot of Indian companies recruit CFA Level 1 candidates for:

• Junior financial analyst
• Equity research associate (entry-level)
• Credit analyst (junior)
• Risk analyst (junior)
• Investment banking support roles

CFA salaries in India after Level 1

New Indian data suggest that:

• Typically, freshers with CFA Level 1 certification get paid approximately ₹4-7 lakh every year for entry-level roles.
• In certain firms & metros, it can be up to ₹8–10 lakhs a year, especially if you have an MBA/CA or did a good internship.

Major skills (useful at Level 1)

To stand out, you should:

• Excel and financial modelling kills: good.
• Be comfortable reading annual reports.
• So track the markets regularly (Nifty, Sensex, results, RBI policy, etc.)
• Excellent written and spoken English.

Also Read: CFA Level 1 – Exam Pattern, Pass Rates, Books, etc

Why Is CFA Level 2 So Significant?

CFA Level 2 covers in depth:

• Company valuation
• Detailed financial statement analysis
• Equity and fixed income
• Complex investment tools

This level is where you start to engage as a serious research professional.

Why is CFA Level 2 in high demand in India?

India is growing as:

• Worldwide back office for investment banks and asset managers.
• A place for equity research, investment discovery, and analytics.
• KPOs, global capability centres, etc.

The firms are looking for people who can:

• Build detailed models.
• Analyse companies and sectors.
• Provide support to resourceful portfolio managers.

CFA Level 2 is a very strong sign that you can perform all that is required in these roles.

Also Read: Top 10 Mistakes Students Make in CFA Level 2 

CFA salaries in India after Level 2

• CFA Level 2 passouts make it to the ₹7–12 lakh per year band early on in their careers.
• For 3-5 years of experience with level 2, the remuneration often rises to a ₹10–20 lakhs per annum range.

This, obviously, depends on:

• Investment banking, equity research, consulting, in corporate finance, or with a risk-management role.
• Size of company (Big 4s vs boutique firms).
• Where you live (Mumbai, Bengaluru, Gurugram usually pays more.)

Popular career options after CFA Level 2

• Equity research associate/analyst
• Investment analyst
• Senior financial analyst
• Credit analyst (mid-level)
• Analyst / associate – Any risk role within markets also applies.

CFA Level 3 and Charterholder: The Real Leap

Level 3 of CFA – Focus Areas

Level 3 of CFA is significantly based on:

• Portfolio management
• Wealth management
• Asset allocation and risk
• Client-centric investment solutions

CFA Charterholder

Once you pass Level 3 and meet the experience requirement, you can earn your CFA charter.

What Impact do CFA Salaries in India have after Level 3?

Clearing Level III and obtaining the CFA charter could add about 50%+ to your salary over earlier levels, in global markets.

India, in the CFA Institute’s proprietary impact study:

• A new charterholder who has around six years of experience makes an average salary of about ₹28.6 lakh per annum,
• And the average band across all candidates and charterholders is approximately between ₹9.8 lakh to ₹44 lakh per annum.

Other India-centric and career websites also reveal the salary a senior CFA professional can get:

• ₹30–50L/annum for a senior analyst, portfolio manager, or as a VP.
  And at a few top firms, total compensation tops ₹1 crore per year when you count the bonus, particularly in investment banking and asset management.

Also Read: Which Is the Best CFA Prep Course in India?

Typical Roles After Level 3 / Charter (Experienced)

These are not the roles you typically land on Day 1 post-Level 3. But with experience and a CFA, these jobs are attainable:

• Portfolio Manager / Fund Manager
• Senior Equity or Investment Analyst
• Head of Research
• Vice President – Investments
• CIO (Chief Investment Officer) at the latter stages
• High-ranking positions in wealth management and private banking departments

But the overarching trend is clear:

As you progress from Level 1 → Level 2 → Level 3 and charterholder, the range of choices you have and your salary potential also expand.

Jobs You Can Get After Each Level of CFA in India

Let’s break it down in terms of perhaps the least complex level equivalent:

After CFA Level I (and Some Internship / Degree):

You can aim for:

• Junior financial analyst
• Equity research associate (entry-level)
• Credit or risk analyst (junior)
• Investment banking support roles
• KPO – Positions in Research and Data Analysis

After CFA Level 2:

Now you appear to be ready for a core analysis position.

Common roles:

• Equity research analyst/associate
• Fixed income analyst
• Mutual funds, PMS at AMCs, as an investment analyst
• Mid-level risk analyst
• Corporate finance analyst

After CFA Level 3 & Charter + Experience:

Possible roles:

• Senior research analyst
• Portfolio manager (post a strong track record)
• Senior risk manager
• VP-level roles in investment teams
• Executive positions in the wealth and asset management industry

Remember, this only illustrates how CFA can impact your pay package ceiling as you move up the ladder in your career.

Top Companies that Hire CFA Candidates in India

CFA candidates and charterholders are employed in various roles, such as:

International Foreign Investment Banks and Finance Service Providers

• Goldman Sachs
• JP Morgan
• Morgan Stanley
• Citigroup
• Credit Suisse / UBS
• HSBC

Indian Banks and Financial Firms

• HDFC Bank
• ICICI Bank
• Axis Bank
• SBI and SBI Funds
• Kotak Mahindra Bank and Kotak AMC
• ICICI Prudential AMC
• HDFC AMC

Rating Agencies and Research Firms

• CRISIL
• ICRA
• CARE Ratings

Consulting and Big 4

• Deloitte
• PwC
• EY
• KPMG

Most of the recent salary surveys have listed these organisations amongst the leading hirers of CFA’s and MBA+CFA’s in India.

Factors Affecting CFA Salaries in India

Your income is not determined by CFA alone. CFA is certainly a strong factor, but not the only one.

These are the primary things that happened:

Level Cleared

• Level 1 → entry-level roles
• Level 2 → more senior analyst-type positions
• Level 3 + charter → senior/leadership pathway

Experience

• Freshers can’t get the same pay as VPs
• It’s the 5–10 good years that make all the difference.

Role Type

• Investment banking and portfolio management often pay more than certain back-office positions.
• Revenue-facing roles typically come with bigger bonuses.

Location

• Mumbai, Bengaluru, Gurugram, and Delhi NCR are known to pay more than the smaller cities.

Extra Skills

• Financial modelling
• Excel and Power BI
• Basic coding (Python, SQL) in research and quant teams
• Communication and presentation skills

Other Qualifications

• MBA + CFA
• CA + CFA
• Or CFA + core experience

These pairings can frequently make salaries rise quickly, particularly from mid to senior levels.

Can Charterholders Negotiate for CFA Salaries In India and Positions?

Yes, they can. And they should.

After you get:

• At least one or CFA levels
• Some real-world knowledge
• A good track record of work

Most of the time, you can negotiate:

• Your regular pay
• Your bonus or flexible pay
• The exact title of your job, what you do there, what your job description is, etc.

The 2024 and 2025 salary and outlook surveys from the CFA Institute are designed to help members compare their own pay to others and get better deals.

How Long Does It Take to Get a Raise After CFA?

There is no magic date when your pay will go through the roof. But many surveys and job guides say that:

• Most only notice a big difference in their work or pay until Level 1 + one or two years of experience.
• Around Level 2 + 3–5 years of good work experience, there’s often an even bigger jump.
• The biggest difference is seen after Level 3 + the charter, especially when paired with 5 to 10 years of work that was useful to the job.

CFA is not a quick fix; it’s a long-term plan.

Also Read: CFA Online Vs Offline Classes | What’s Best For Acing The CFA In One Go

Final Thoughts

The CFA Program isn’t a magic money button, but it’s pretty strong.

In India from 2026 onwards:

• Passion isn’t enough to open the door. Companies still look for someone with a healthy thirst for learning.
• The CFA qualification continues to be one of the most robust signals of investment, commitment, and ability.
• Salaries can increase quite a bit as you move from Level 1 → Level 2 → Level 3 and Charter, with experience.

If you love the markets and are willing to work hard for a few years, CFA can enable you to build an excellent long-term career in finance where both roles and rewards grow tremendously.

FAQs – CFA Jobs & Salaries India (2026 and Later)

1. What is the salary of a CFA in India?

The latest sources that focus on India show the following:

• ₹4–8 lakhs per year to become a CFA Level I candidate.
• ₹10 to 25 lakh per year for mid-level (Level 2 or charter plus a few years).
• Senior (charter + 10+ years): ₹25–50 lakh+ per year, and often a lot more in top jobs.

Keep in mind that these are just estimates, not promises.

2. Is CFA relevant in India?

Yes, and it’s getting better with time. The area of business and investing in India is growing. India is being used more and more by foreign companies for research and data. So there is a lot of demand, especially if you have skills, have done the job well, and know how to communicate well with people.

3. How much salary can be expected after CFA Level 2?

Anything from ₹7 lakhs to ₹12 lakhs per year. Based on the job and the company, salary can go up to ₹10 to ₹20 lakhs per year after a few years of work experience.

4. Who earns more: CFA or CA?

It depends on:

• What kind of work do you do (audit, stock research, company finance, IB, etc.)?
• Business and field?
• The work you have done, and the experience you have.

Having CFA training can get you better pay. CA might work better for jobs that involve taxes and audits. On the other hand, a lot of the best researchers and skilled Indian investors have both the CA and the CFA. They get to work in investment banking, stock research, and investment management.

5. Who earns more: MBA or CFA?

It varies.

• A top MBA from an IIM, ISB, or other top school can get very good pay.
• Most of the time, a CFA charterholder also makes more money over time, especially in jobs that focus on investments.

For front office finance jobs in India, an MBA and a CFA are usually the best combination. This is because, according to pay breakdowns from 2025, people with both qualifications make more than people with just one (at least ₹10–₹20 lakh at the mid-level and ₹26–₹50 lakh+ or more at a senior level).

6. Is the CFA salary higher than in most other industries in India?

If you compare it to many areas other than banking, then yes. Finance jobs with a CFA will usually pay a lot more, especially when you get to mid- or high-level positions.

But keep in mind that as your pay goes up, so will your duties and the hours you work, especially in IB and with markets.

7. Will each level of CFA change the job I can have?

Yes, Level 1 gives you access to entry-level jobs in banking. After Level 2, you’ll have good options for jobs as an analyst or in core research. Level 3 + charter gets you jobs in managing portfolios, making decisions for others, and making senior-level decisions.

When employers sort resumes, these are what they look at.

8. Can I bargain with both salary and role as I get bigger?

Yes.

After you’ve:

• CFA certification level 1, 2, or 3.
• Experience that matters.
• Good track record of results.

You can talk about:

• What your job title would be.
• What you want to work on.
• Your bonus and regular pay.

9. How long does it take to get a good growth in salary and role with CFA?

There isn’t a set date.

• 0 to 2 years – help build skills.
• 3–5 years+ – mid-level jobs, with Level 2 or Level 3 credentials; slightly higher pay.
• 6–10 years of experience + charterholder get better jobs and make a lot more money.

Along with a CFA, the increments can be faster if you do well in your job, have experience with financial models, and are good at networking.