13 Reasons You Should Start CFA Course Along with Your B.com | 6th Is An Eye Opener

What should you do while graduating with a BCom? Thinking about CFA?

Stepping into the path to becoming a Chartered Financial Analyst (CFA) isn’t an easy choice, but the rewards can be huge. If you’ve heard from others who are pursuing CFA, you likely know some basics already: expect sleepless nights, sacrifices in free time, and tough decisions. But if you’re ready for these challenges, the future can be very promising.

Let’s dive into what CFA is all about and why you should pursue it while doing your BCom.

Understanding CFA With BCom

The CFA certification is a globally recognized credential for finance and investment professionals. It equips holders with deep knowledge and practical skills in investment analysis, portfolio management, and other crucial financial areas.

For BCom students, pursuing a CFA can significantly enhance career prospects in finance. It provides specialized knowledge beyond undergraduate studies, making graduates more competitive in fields like investment banking, asset management, and financial analysis.

The CFA program consists of 3 levels, each focusing on different aspects of finance. Candidates cover 10 core subjects, including ethics, quantitative methods, economics, financial reporting, corporate finance, equity investments, fixed income, derivatives, alternative investments, portfolio management, and wealth planning.

B.Com students are eligible to enroll in the CFA program directly in their first year.

13 Reasons to Pursue CFA With BCom

Combining a BCom degree with the Chartered Financial Analyst (CFA) certification opens up numerous advantages for aspiring finance professionals:

1. Enhanced Career Opportunities

The synergy of a B.Com degree and CFA certification significantly enhances career prospects in finance. It equips individuals with specialized skills in investment analysis, asset management, and financial planning, making them highly sought after by employers in prestigious firms like JP Morgan and HSBC.

2. Global Recognition and Demand

CFA is globally recognized, with over 190,000 charter holders across 160 countries. This international recognition ensures that professionals with both CFA and B.Com qualifications can pursue rewarding careers globally, facilitating seamless career transitions across borders.

3. Advanced Financial Knowledge

While B.Com provides foundational theoretical knowledge, pursuing CFA deepens practical expertise in finance. The rigorous CFA curriculum covers diverse subjects such as economics, financial reporting, and portfolio management, offering a comprehensive understanding of complex financial concepts.

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

4. Diverse Career Options

Beyond traditional roles in investment banking, CFA opens doors to diverse career paths in fintech, wealth management, and corporate finance. The combination of CFA and B.Com broadens career options, allowing professionals to excel in various sectors of the financial industry.

5. Faster Career Growth and Networking

CFA certification accelerates career growth by providing access to a global network of finance professionals. Joining CFA alumni networks and professional groups enhances networking opportunities, fostering knowledge exchange and career advancement.

Looking For Offline CFA Classes Near You? Proschool Has 15+ CFA Classes Throughout India!

6. Even After an MBA, People are Now Considering Pursuing a CFA, So Why Not Do It Now?

The trend of pursuing a CFA after or alongside an MBA is growing among those seeking to enhance their finance credentials. Here are compelling reasons to consider starting CFA early in your career:

• Specialized Knowledge: CFA provides specialized expertise in investment management, financial analysis, and portfolio strategy, complementing the broader management education of an MBA.
• Career Focus: For those aiming for careers specifically in finance, CFA offers targeted knowledge and skills highly valued in roles such as investment banking, asset management, and equity research.
• Global Recognition: CFA is recognized globally, facilitating career mobility across international markets, a benefit particularly valuable early in one’s career when exploring diverse opportunities.
• Cost-Effective: Compared to an MBA, pursuing a CFA is generally more cost-effective, with lower tuition fees and fewer years of study, making it a practical choice for early career professionals.
• Career Acceleration: Earning CFA early demonstrates a commitment to the finance profession, potentially accelerating career progression and opening doors to higher-level roles and responsibilities.
• Networking Opportunities: Joining the global community of CFA charter holders provides extensive networking opportunities, valuable for learning, mentorship, and career advancement.

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

7. Financial Stability and Job Security

Professionals holding both CFA and B.Com credentials enjoy enhanced job security and financial stability in the competitive finance sector. The dual qualification demonstrates expertise and commitment, making individuals valuable assets to employers seeking skilled financial professionals.

8. Opportunities for International Mobility

CFA and B.Com qualifications facilitate international career mobility, as they are recognized and valued by employers worldwide. Professionals can explore job opportunities in diverse financial markets across continents, leveraging their versatile skill sets and global recognition.

9. Industry Prestige and Recognition

Combining CFA with a B.Com degree enhances industry prestige and recognition. Employers value the rigorous training and ethical standards upheld by CFA charter holders, solidifying their reputation as trusted financial experts.

10. Access to Specialized Knowledge Areas

The CFA curriculum delves into specialized areas such as equity investments, derivatives, and alternative investments, complementing the broad-based education of a B.Com program. This specialized knowledge equips professionals to handle complex financial challenges effectively.

Also Read – Duration of CFA Course: How Long Would It Take To Complete Each CFA Level?

11. Personal and Professional Development

Pursuing CFA alongside B.Com fosters holistic personal and professional development. It hones analytical skills, decision-making abilities, and ethical judgment, preparing individuals for leadership roles and lifelong learning in the dynamic field of finance.

12. Top Countries Where Indians are Moving After Doing CFA from India

After completing CFA certification in India, many professionals seek career opportunities in prominent global financial hubs. Some of the top countries where Indians with CFA qualifications often relocate include:

• United States: Known for its robust financial sector in cities like New York and Chicago, offering diverse opportunities in investment banking, asset management, and private equity.
• United Kingdom: London serves as a major financial center, attracting CFA professionals to roles in banking, hedge funds, and financial consultancy.
• Singapore: A hub for finance in Asia-Pacific, offering opportunities in wealth management, fintech, and corporate banking, with a strong emphasis on Asian markets.
• Hong Kong: Another key financial hub in Asia, particularly for roles in investment banking, portfolio management, and trading, with exposure to both Chinese and global markets.
• Canada: Cities like Toronto and Vancouver offer opportunities in asset management, pension funds, and financial planning, known for their stability and quality of life.
• Australia: Sydney and Melbourne are hubs for finance and investment, offering roles in funds management, banking, and financial advisory services, particularly strong in commodities and resources sectors.
• Switzerland: Zurich and Geneva are renowned for private banking, asset management, and wealth advisory services, with a focus on high-net-worth clients and institutional investors.

Also Read – CFA Jobs & Salaries In USA | What Could You Earn In Each Profile Throughout Your Career?

13. Avg. salary of B.Com students vs B.Com + CFA level 1 or level 2 cleared

Adding CFA certification to a B.Com degree can significantly impact salary prospects, reflecting enhanced skills and credibility in the finance sector. Here’s a comparison based on typical salary ranges in India:

• B.Com Graduates:

  • • Entry Level (0-2 years): ₹2,50,000 – ₹4,50,000 per annum
    • Mid-Level (2-5 years): ₹4,50,000 – ₹7,50,000 per annum
    • Experienced (5+ years): ₹7,50,000 – ₹12,00,000 per annum

• B.Com + CFA Level 1 or Level 2 Cleared:

• • • Professionals with CFA Level 1 or Level 2 cleared alongside a B.Com degree often secure higher starting salaries, reflecting their advanced financial knowledge and readiness for specialized roles in investment banking, asset management, or financial analysis.
    • Salaries for these roles can range from ₹8,00,000 – ₹15,00,000 or more per annum, depending on factors such as location, industry, and specific job responsibilities.

Earning CFA certification not only enhances earning potential but also positions individuals for long-term career growth and leadership opportunities in the competitive finance industry.

84% Of Our CFA Students Recommend That You Join Us For Your CFA Prep

Job Opportunities and Salary Prospects

The Chartered Financial Analyst (CFA) certification offers a range of rewarding job opportunities and competitive salaries for professionals combining it with a B.Com degree:

Overview of Job Profiles: CFA opens doors to various roles in finance, including:

• Research Analyst
• Portfolio Manager
• Investment Banker
• Risk Manager
• Credit Analyst

 
Average Annual Income: Professionals with CFA alongside BCom can earn:

• Entry Level: ₹6 lakhs per annum
• Mid-Level: ₹15 lakhs per annum
• Senior Level: ₹40 lakhs per annum

 
Top Companies Hiring CFA Professionals: Companies like JP Morgan, Goldman Sachs, HSBC, PwC, Deloitte, SBI, and Aditya Birla Life prefer hiring CFA holders. These firms offer prestigious positions in finance, leveraging global recognition of the CFA certification.

Job Opportunities & Salaries Comparison:

• B.Com Graduates: Typically start with salaries ranging from ₹2.5 lakhs to ₹4.5 lakhs per annum, varying by role and industry.
• B.Com + CFA Level 1/L2 Cleared: Salaries begin higher, with opportunities for significant growth, ranging from ₹8 lakhs to ₹15 lakhs per annum, reflecting advanced financial expertise and career readiness.

 
Combining CFA with B.Com enhances career prospects, offering stable growth and esteemed opportunities in the finance industry globally.

Learn From Updated CFA Curriculum, Get Exam Pass Commitment & More

Here’s How Proschool Can Help You Ace The CFA Program

If you’re a B.Com student looking to advance in finance, pursuing the CFA program at IMS Proschool could be your perfect choice. Here’s why:

• Comprehensive CFA Preparation:

IMS Proschool offers rigorous CFA preparation with industry-experienced faculty across 15+ centers in India. With over 3,000 aspirants trained, our CFA Prep program ensures you master advanced finance and investment concepts.

• Personalized Learning Experience:

We understand each student’s journey is unique. IMS Proschool provides a tailored 6-month study plan followed by 3 months of revision, ensuring thorough understanding and readiness for all CFA levels.

• Direct Pathway to Employment:

Completing CFA Level 1 opens doors to job opportunities, supported by placement assistance and internship opportunities during the course. Our active learning pedagogy includes practical methods and case studies, preparing you for real-world challenges in finance.

• Support Beyond the Classroom:

Benefit from unlimited doubt-solving sessions, 24/7 faculty support, and access to extensive resources. Our commitment to your success includes a robust practice regime with 5 mock exams and over 2,000 practice questions.

FAQs

1. Is it mandatory to have a B.Com degree to pursue the CFA certification?

No, a B.Com degree is not mandatory, but having a background in commerce can provide a solid foundation for understanding financial concepts covered in the CFA curriculum.

2. Can I pursue the CFA certification alongside other courses or commitments?

Yes, many students pursue the CFA certification alongside their undergraduate or graduate studies. However, it requires dedication and time management to balance multiple commitments effectively.

3. What are the typical study hours required to prepare for the CFA exams while completing a B.Com degree?

The recommended study hours vary depending on individual learning styles and background knowledge. However, most candidates dedicate 300-400 hours of study per exam level to adequately prepare for the CFA exams.

4. Are there any scholarships or financial aid available for B.Com students pursuing the CFA certification?

Yes, the CFA Institute offers scholarships to eligible candidates, including students pursuing undergraduate degrees. These scholarships aim to support candidates with financial need or demonstrate exceptional academic achievement.

5. How does pursuing a CFA with a BCom degree benefit my long-term career goals?

Combining CFA with a BCom degree enhances your credentials and opens doors to a wide range of career opportunities in finance, investment banking, portfolio management, and more. It provides a competitive edge in the job market and accelerates career growth potential.