Many commerce students dream about having a business card with the coveted words — chartered accountant — written next to their names. It is one of the most prestigious and traditionally revered professions in the finance industry. You face a rigorous syllabus, hard-to-pass exams and tough competition before you can proudly call yourself a qualified CA. In India, the demand for CAs is always high. They are considered the financial backbone of any organization. Companies know what they are getting when hiring a chartered accountant — trust, knowledgeability and expertise.
So why should you consider applying for the CFA after CA?
As a CA, you can get pigeonholed. You are restricted by certain factors, making it difficult for you to branch out into other fields. As more international companies enter India or open up offices around the world, you need the skills and qualifications to laterally move into different finance sectors. The CFA designation can be your ticket to widening your professional horizon. It can help you branch out into other profiles and boost growth opportunities. If you are wondering, is the CFA harder than CA? Don’t worry, it’s not. It makes sense to do it for several reasons. Let’s find out more.
Why you should register for CFA after CA certification
The Chartered Financial Analyst, or CFA, is one of the best finance qualifications in investment management. Since its inception in 1947, the CFA institute has trained accomplished professionals worldwide. Today, there are over 160,000 CFA charterholders across more than 160 countries. The course covers every relevant and essential subject of investment banking. The syllabus is a detailed and intensive study of investment planning and portfolio management.
Students develop a keen understanding of the markets, financial developments and core concepts while enhancing their analytical and technical skills. The CFA institute sets the standards for the investment advisory industry. It is recognised universally as a coveted credential by global corporations, banks, NBFCs and investment firms. If you are a CFA charter holder, you instantly receive an edge over other applicants. When you add your CA certification to the mix, you skyrocket your career to greater heights. There is no contest between CFA vs CA. Together, the two qualifications are a stellar combination.
CFA course details:
- The syllabus has ten subjects, repeated across all three CFA levels
- Ethics and Professional Standards
- Quantitative Methods
- Portfolio Management
- Financial Reporting and Analysis
- Equity Investments
- Fixed Income
- Corporate Issuers
- Alternative Investments
- To become a CFA charter holder, you need 36 months or 4,000 hours of work experience requirements with a relevant organisation
- The work experience can be before, after or during your CFA
- Students who have a bachelor’s degree are eligible to register for the CFA course
- Professionals with over four years of experience can also apply, especially those who want to do the CFA after CA
- All CFA students should own a working passport
Want to know more about IMS Proschool’s CFA Program
The many benefits of CFA after CA
Some CA professionals may want to branch out into other financial avenues. Others may be looking for global prospects. While a significant number of chartered accountants may be eyeing the investment industry as the next obvious step for their career.
Whatever your reasons may be, here are 6 advantages of having a CFA after CA stamp on your resume.
- The CFA opens up many new lucrative opportunities
The program is your direct entry into the exciting world of investment banking. You will be an expert in several skills and services, such as mergers and acquisitions, equity research, corporate finance and wealth management. Companies such as JP Morgan, Crisil, HSBC and Citibank are very particular about who they hire. They want the best of the best. As a professional certified in CFA after CA, companies will recognise that you bring twice the value. You will be known as a highly educated and well-rounded candidate with a wide range of financial and accounting skills.
- You can upgrade your resume to an international level
As prestigious as the CA certification is, it is only valid in India. If you have plans to migrate, the CFA charter is recognized in over 160 countries, including the USA, Australia, Canada and Singapore. These nations are known to pay CFA professionals high salaries with perks. However, your CA proficiency also gives you an edge when applying for investment management jobs abroad. You are a candidate with immense knowledge and expertise in the field. If you are not planning to move abroad but are considering applying to international firms in India, a CFA after CA-certified resume can make you a shoo-in for many positions, such as equity analyst or credit research associate.
- Recruiters prefer multi-faceted professionals
The corporate world is spinning so fast on its axis that it is hard to keep up. HR managers want candidates who can stand their ground but adapt to the moving times. People who upgrade their resumes with new skills are the ones who get called into interviews. Those candidates who have done their CFA after CA are considered multi-dimensional professionals. You are a well-balanced financial specialist with many talents. In other words, you are considered a catch.
- It leads to rewarding job profiles
When you hold the unique dual designation of CFA & CA, you are a desired candidate for many attractive job positions. You are a forerunner for most trading and advisory profiles. Even though MBAs are considered for similar roles, they don’t have the financial knowledge as you. Your analytical skills, accounting abilities and practical application of financial concepts will tip the scales in your favour. You can apply for jobs in wealth management, alternative investments, investment banking, risk management and corporate finance.
- Increases your earning potential
When it comes to CA vs CFA salaries, owning both certifications can get you a higher income. When you start as a chartered accountant, your entry-level package is around Rs 6 lakhs a year. However, add a CFA to your CV, and you can double that number. CA professionals who have only completed CFA level 1 can also hope to increase their salaries. With experience, your pay packages steadily skyrocket. If you have been working for over a decade, you could stand to take home a salary of over Rs 50 lakhs. While this number varies, depending on the company and location, it is safe to say that your two qualifications will give you a very lucrative career.
- It is easier to clear CFA after CA exams
Many students who have taken on the tumultuous task of sitting for the CA exams are weary of taking another strenuous course. They often ask this question — is CFA harder than CA? While the CFA course can be challenging for young students, those who are used to the high level of a professional certificate will find it very doable. Students believe that the CFA level 1 exam is a breeze for CA students as there is an overlap of some subjects.
Know More about CFA Course in Depth
Proschool’s CFA Prep Course
Why is Proschool the preferred choice for so many finance students? The answer is clear. Proschool shows results. The institute is known for its high success rate. A considerable number of students have cleared the CFA exams and joined large financial companies. There are many reasons why coaching classes are very effective. Proschool has adopted active learning methods, where students handle real-world situations and study by ‘doing’ and not memorizing. The faculty consists of experienced CFA specialists who have been in the industry for a long time. The professors know how to engage the students, simplify complex concepts and clear doubts instantly. If you are trying for the CFA after CA, Proschool will ensure you receive your certification quickly and efficiently.
Here are some more course highlights:
- You have many learning resources at your fingertips, such as five mock tests, 2,000 practice papers and study prep textbooks
- There are several coaching centres in major cities where you can attend live classroom sessions
- You can also log in for their interactive online classes
- Once you clear the program, Proschool will help you with the recruitment process, ensuring you have the correct resume writing and interviewing techniques
- The institute will also assist you to apply for entry-level jobs in the industry
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If life were a Marvel movie, your CFA after CA certifications would give your super financial strength. You will be highly knowledgeable with skill-based expertise in many areas.
You are a valuable hire not just in India but also in many countries around the world. It is an enticing prospect, isn’t it? When it comes to CFA vs CA, there are so many career-based opportunities when doing both. So don’t wait any longer. Sign up for a CFA course today, and reap the benefits in the future.