Is CFA Worth It To Get A Good Finance Job? Backed By Data | Ask The Proschool Experts

If you’re thinking about a career in finance, you’ve probably heard of the CFA (Chartered Financial Analyst) designation. It’s one of the most respected qualifications in the finance world, and for a good reason—it opens up plenty of opportunities, especially if you want to work in investment banking, portfolio management, or risk analysis.

Why Is CFA a Big Deal?

The CFA program is tough, no doubt about it, but that’s what makes it so valuable. It dives deep into topics like financial analysis, portfolio management, and ethics, which are all crucial in the finance industry. And the best part? Companies really take notice when they see CFA on your resume.

The Demand for CFA Professionals: What the Data Says

As the finance industry continues to grow, so does the demand for skilled professionals who can handle complex financial tasks. The CFA (Chartered Financial Analyst) designation is becoming increasingly valuable across the globe, and industry reports back this up with clear data.

According to Investopedia, CFA charterholders are in high demand, especially in sectors like investment banking, asset management, financial research, and risk management. The CFA’s focus on in-depth financial analysis and ethical practices makes it a must-have for many companies looking to hire top talent. In fact, the number of job opportunities for CFA charterholders has been steadily rising, particularly in markets like Asia, the Middle East, and North America.

According to a report, around 25% of CFA charterholders work in portfolio management, 12% in research, and 10% in consulting. These roles are key to managing investments and making informed financial decisions​.

These sectors highly value the advanced financial expertise that comes with the CFA designation​.

What Employers Expect from CFA Charterholders

Employers are not just looking for the CFA letters on your resume—they want to see the skills that come with them. As a CFA charterholder, you’re expected to:

• Analyse data like a pro: Companies need someone who can interpret complex financial information and make informed decisions.
• Know the markets: Deep knowledge of global and local markets is a must.
• Think globally: A CFA isn’t just about knowing finance—it’s about understanding how the world’s markets interact.

In short, companies want someone who can step into a finance role and start adding value from day one​.

Also Read – How Difficult is the CFA Program? | Can an Average Student Pass the CFA Exams Easily?

Jobs Requiring CFA Certification

If you’re wondering what kind of jobs you can land with a CFA, there’s a broad range of options. Some of the most popular roles for CFA charterholders include:

• Portfolio Managers
• Investment Banking Analysts
• Risk Managers
• Equity Research Analysts
• Financial Advisors

These roles typically involve managing investments, analysing market trends, and helping companies or clients make smart financial decisions​.

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Salary Comparison: CFA vs. Other Qualifications

One of the big reasons why people pursue the CFA is the salary potential. When comparing CFA to other qualifications like an MBA, the numbers can vary based on the job role. Here’s a comparison:

As you can see, CFA charterholders often earn more in specialised finance roles compared to MBAs or CPAs, especially in investment-related positions​.

Also Read – CFA Jobs & Salaries In India After CFA Level 1, Level 2 & Level 3

Is CFA Worth It? Evaluating the Investment

If you’re thinking about whether the CFA (Chartered Financial Analyst) program is worth your time and money, you’re not alone. Many aspiring finance professionals wonder about the costs involved and what benefits it can bring to their careers. Let’s break it down, using reliable information from the CFA Institute and Payscale.

The Cost of the CFA Program

The CFA program is known for being more affordable than other professional finance qualifications, but it’s still a serious commitment. Here’s what you can expect when it comes to costs:

• One-Time Enrollment Fee: When you first sign up, you’ll pay a USD 350 fee (about ₹29,000).
• Exam Fees: Each level (there are three in total) has an exam fee. If you register early, you’ll pay USD 940 per level. If you miss the early registration, the cost jumps to USD 1,250 per level.

Starting in 2025, these fees are increasing slightly:

• For Level I and II, the early registration fee will be USD 990, and standard registration will cost USD 1,290.
• For Level III, early registration will cost USD 1,090, and standard registration will be USD 1,390.

So, for those registering early for all three levels, the total cost will be around USD 3,910 (about ₹3.25 lakhs). For those registering during the standard window, the cost will go up to USD 4,440 (about ₹3.7 lakhs). That’s still much lower than an MBA, which can cost anywhere from ₹10-20 lakhs in India!

The good news is that the CFA program is self-paced, so you can work while studying, which helps offset the cost.

Also Read – Breaking Down the Cost of CFA in 2024 + Essential Budgeting Tips

CFA Course’s Career Benefits and Salary Data

One of the biggest draws of the CFA program is the potential salary boost. According to Payscale, CFA charterholders in India earn an average salary of ₹9.6 lakhs per year. Of course, the exact amount depends on your level of experience and the type of job you land.

Here’s a breakdown of the salary range based on experience:

• Entry-level CFA professionals (with 1-4 years of experience) earn between ₹6-7 lakhs per year.
• For those with 5-9 years of experience, the salary jumps to around ₹12-15 lakhs per year.
• Senior CFA professionals (with over 10 years of experience) can make more than ₹20 lakhs per year.

This shows that the CFA designation can significantly impact your earning potential, especially as you gain experience in the industry.

The CFA Program’s Impact in India

In India, the CFA program is becoming increasingly valuable as the country’s financial sector grows. According to a 2023 Impact Assessment by the CFA Institute, India is now one of the fastest-growing markets for CFA candidates. Employers across industries, particularly in investment banking, asset management, and corporate finance, are on the lookout for CFA-qualified professionals who bring a strong understanding of ethics, financial analysis, and global finance practices.

This means that having the CFA designation can open doors to high-level finance roles both in India and internationally, making it a smart career investment for those aiming to excel in the finance industry.

CFA vs. Other Finance Certifications: Data Comparison

When deciding which finance certification to pursue, it’s crucial to compare each based on focus areas, career opportunities, job profiles, salary potential, and difficulty levels. Let’s break down how the CFA, MBA, CFP, CA, CPA, FRM, and CAIA compare to help you make the best choice for your career.

Core Focus Areas

• CFA (Chartered Financial Analyst): Primarily focuses on investment management, portfolio analysis, and financial ethics. The CFA program is broad but deeply rooted in investments.
• MBA (Master of Business Administration): Covers business management holistically, including areas like finance, marketing, HR, and operations. An MBA prepares candidates for leadership roles beyond just finance.
• CFP (Certified Financial Planner): Specialises in personal financial planning, retirement planning, estate planning, and tax planning. It’s ideal for those looking to work directly with individual clients on personal finances.
• CA (Chartered Accountant): Primarily focuses on accounting, auditing, and taxation. It’s ideal for accounting roles, audits, and corporate taxation.
• FRM (Financial Risk Manager): Specialises in risk management, covering credit, market, and operational risks. It is deeply focused on risk assessment and control.
• CPA (Certified Public Accountant): Focuses on accounting and financial reporting, primarily for professionals working in financial auditing and taxation.
• CAIA (Chartered Alternative Investment Analyst): Specialises in alternative investments, such as hedge funds, private equity, and real estate, making it ideal for niche markets like alternative investment management.

What These Qualifications Prepare You For

• CFA: Prepares you for roles in investment banking, portfolio management, and equity research. It’s geared towards those who want to specialise in investments.
• MBA: Prepares you for management roles in finance and other fields such as consulting, marketing, and operations. It’s broader in scope and ideal for leadership positions.
• CFP: Focuses on roles like financial advisor and wealth manager, with an emphasis on personal finance and client consultation.
• CA: Prepares you for careers in auditing, accounting, and tax consultancy. It’s highly valued for those specialising in corporate finance and taxation.
• FRM: Suited for those looking to work in risk management roles, typically in banks, financial institutions, or consulting firms.
• CPA: Prepares you for accounting and auditing roles, especially in corporate finance, tax preparation, and financial reporting.
• CAIA: Prepares professionals for working in alternative investments, such as hedge funds and private equity firms.

Also Read – 7 Best Study Materials For CFA Level 1 & How To Get Them?

Job Profiles

• CFA: Portfolio Manager, Investment Banker, Equity Analyst.
• MBA: Business Consultant, Financial Manager, Operations Director.
• CFP: Financial Planner, Wealth Manager, Investment Advisor.
• CA: Accountant, Auditor, Tax Consultant.
• FRM: Risk Manager, Financial Risk Analyst, Credit Risk Officer.
• CPA: Financial Auditor, Tax Specialist, Corporate Accountant.
• CAIA: Hedge Fund Manager, Private Equity Analyst, Real Estate Investment Manager.

Salaries at Various Levels

• CFA: Entry-level salaries range from ₹6-7 lakhs per year, with senior professionals earning ₹20+ lakhs per year.
• MBA: Fresh graduates typically earn ₹8-10 lakhs, with senior positions commanding ₹25 lakhs or more annually.
• CFP: Entry-level financial planners earn ₹4-7 lakhs, with experienced professionals earning up to ₹15 lakhs.
• CA: Starting salaries are ₹6-8 lakhs, and senior roles can reach ₹20 lakhs or more.
• FRM: Entry-level risk managers earn ₹6-8 lakhs, and senior professionals can earn ₹15-20 lakhs.
• CPA: Salaries start at ₹7-10 lakhs, and with experience, can go beyond ₹20 lakhs.
• CAIA: Salaries for professionals specialising in alternative investments can start around ₹10 lakhs and rise significantly with experience.

Difficulty Levels

• CFA: One of the most challenging finance certifications, requiring passing three rigorous exams with each level demanding 300+ hours of study.
• MBA: Not as specialised as CFA, but requires intense coursework and exams. Top-tier MBA programs are particularly demanding.
• CFP: While focused on personal finance, the exam is specialised and can be tough, but typically easier than the CFA.
• CA: Considered highly rigorous due to its focus on accounting, taxation, and audit laws, involving multiple levels of exams.
• FRM: Specialised in risk management, requiring passing two exams. Challenging but narrower in scope than CFA.
• CPA: Generally easier than the CFA, but still rigorous with a heavy focus on accounting laws and financial reporting.
• CAIA: Similar to FRM, the CAIA certification is niche but less comprehensive than CFA, making it easier for those focused on alternative investments.

Return on Investment (ROI)

• CFA: High ROI for those pursuing careers in investment management and financial analysis, especially with its global recognition.
• MBA: High ROI if you’re aiming for leadership roles across industries, not just finance. Broader career options.
• CFP: Good ROI for those interested in personal financial planning and wealth management. Less expensive than MBA or CFA.
• CA: High ROI in accounting, auditing, and taxation, with stable career prospects.
• FRM: Good ROI for professionals focusing on risk management within financial institutions.
• CPA: Excellent ROI for professionals in accounting and auditing, especially in corporate and tax roles.
• CAIA: High ROI in niche markets like hedge funds and private equity, where alternative investments are key.

This comparison should give you a clear picture of how these certifications stack up. Each one has its own strengths depending on what kind of career you want to pursue in the finance world. Let me know if you’d like any more details or clarifications.

Also Read – Breaking Down CFA Pass Rates by Levels and Years

How IMS Proschool’s CFA Training Help You Succeed

IMS Proschool offers a comprehensive CFA training program that helps students pass the exams with confidence. What makes them stand out is their data-driven approach and strong support system throughout the course.

With 15+ centres across India and over 3,000 students trained, IMS Proschool provides a structured program that includes 900+ hours of focused learning.

Key Features

• Structured Learning: The program takes you step-by-step through the CFA curriculum, with new batches starting every month.
• Practical Experience: Faculty with real-world finance experience ensure students can apply the knowledge they gain.
• Mock Tests: Proschool uses 15+ mock tests and continuous quizzes to track your progress and help you focus on areas for improvement.

High Success Rates

The program is highly recommended by 84% of students because of its hands-on learning approach with industry-experienced instructors who help students master both theory and practical applications.

Extra Benefits

IMS Proschool also provides job placement assistance after passing Level 1, helping students find finance roles through their network of connections with top companies.

IMS Proschool’s training program gives you everything you need to succeed—structured lessons, expert teachers, mock tests, and support. It’s a great option if you’re serious about passing the CFA exams and launching your finance career.

Conclusion: Is CFA the Right Path for You?

The CFA is ideal if you’re aiming for a career in investment or financial analysis. It’s globally respected and opens doors in finance, but it requires serious commitment. The payoff is worth it: CFA charterholders in India earn about ₹9.6 lakhs per year, with more experienced professionals earning higher. If you’re passionate about finance and ready to work hard, the CFA is a strong choice. However, if you want broader business skills, an MBA might be better suited for you.

FAQs

What are the pass rates for the CFA exams, and how can I improve my chances?

The pass rates for the CFA exams are challenging, with Level I having an average pass rate of about 40%, Level II around 44%, and Level III at 56%. These rates fluctuate slightly each year depending on the exam cycle.

To improve your chances:

• Dedicate 300+ hours of study for each level.
• Use a structured study plan, including mock exams and practice questions.
• Focus on weak areas by reviewing past exam performance.
• IMS Proschool offers targeted training with mock tests and revision sessions, which can boost your chances significantly by offering a comprehensive learning experience.

What is the average salary increase after completing the CFA?

CFA charterholders typically see a significant salary boost after completing the program. The average salary increase depends on experience, the industry, and the region, but CFA professionals often earn 25-50% more than non-charterholders in similar roles.

Which industries and companies hire the most CFA professionals?

Popular employers include:

• Goldman Sachs
• J.P. Morgan
• BlackRock
• Morgan Stanley
• HSBC
• ICICI Bank
• HDFC Bank

These firms value the CFA’s strong focus on financial analysis, ethics, and portfolio management.

How does CFA compare to other finance certifications in terms of career opportunities?

The CFA designation is often regarded as the gold standard in investment management and financial analysis. It offers specialised knowledge in investment banking, portfolio management, and equity research, making it more targeted than broader certifications like the MBA or CA. Compared to the CPA, the CFA is more internationally focused, and compared to the FRM, it covers broader financial topics beyond just risk management.

CFA charterholders are more likely to land roles in investment-related fields, while certifications like the MBA offer more leadership and management opportunities across a range of industries.

How can IMS Proschool training improve my CFA exam results?

Proschool’s methodology focuses on building a solid foundation at each level:

• Level 1 includes 200+ hours of training with an emphasis on mastering MCQs and developing speed and accuracy.
• Level 2 offers 300+ hours of training and focuses on depth, accuracy, and flip learning pedagogy, which encourages self-study combined with teacher guidance.
• Level 3 provides 450+ hours of rigorous practice, including constructed response questions, which are key for passing the final level.
• Students practise with 5 mock exams and 2000+ practice questions.
• Offers 24/7 faculty support, customised study plans, and revision modules.
• Placement Assistance after passing Level 1 itself.

With 84% of students recommending Proschool, it’s a proven pathway to CFA success.

Is CFA better than MBA?

Whether the CFA is better than an MBA depends on your career goals:

• CFA is ideal if you want to specialise in investment management, portfolio analysis, and financial analysis. It’s highly respected in the finance world, especially in roles directly tied to financial markets and investments.
• MBA offers a broader education, covering finance, marketing, management, and operations. It’s better for those aiming for leadership roles across different industries, not just finance.

Is CFA valued in India?

Yes, the CFA designation is highly valued in India, especially in the finance sector. Many top banks, investment firms, and asset management companies seek CFA charterholders due to their specialised knowledge in financial analysis, ethics, and portfolio management. As the financial sector in India continues to grow, the demand for CFA-qualified professionals is rising.

Who hires CFA in India?

In India, CFA charterholders are hired by a wide range of financial institutions, including:

• Banks like ICICI, HDFC, and SBI.
• Investment firms like J.P. Morgan, Goldman Sachs, and BlackRock.
• Asset management companies like HDFC AMC and Kotak AMC.
• Private equity and venture capital firms.