All About The CFA Course
What if we told you there’s a qualification that could make you the ultimate finance ninja, armed with global recognition, top-notch skills, and a ticket to work at the best investment firms? Sounds too good to be true? Well, it’s not—it’s the CFA (Chartered Financial Analyst) designation.
Did you know? Only about 184,000 people worldwide hold the CFA charter, making it more exclusive than many Ivy League MBAs!
With India emerging as a major player in global finance, CFA-certified professionals are in high demand, offering lucrative career opportunities both locally and internationally.
What Is CFA?
CFA stands for Chartered Financial Analyst. It’s a globally recognized certification awarded by the CFA Institute, based in the United States. Think of it as the black belt in finance, but instead of karate chops, you’ll be delivering killer financial strategies!
The CFA Institute is the organization behind the CFA program. Established in 1947, it is now the most prestigious finance organization in the world. They are known for their strict ethical standards and rigorous curriculum that ensures CFAs are not just book-smart but also ethical professionals. With over 190,000 members worldwide, it’s a hub for finance professionals who mean business—literally.
How Prestigious Is CFA?
- It’s a Gold Standard: The CFA designation is considered the “gold standard” in finance and investment management.
- Low Pass Rates: With pass rates often hovering below 50%, the CFA program’s difficulty is a testament to its value.
- Respected Globally: It opens doors to roles in over 165 countries, making it one of the most globally accepted finance certifications.
Still curious? Let’s dive into why you should seriously consider pursuing this.
Why Should You Pursue The CFA Course?
The CFA designation isn’t just a certificate; it’s a gateway to incredible opportunities in the finance world. Here’s why it could be your best career move:
Global Recognition
- Employers worldwide respect the CFA charter for its depth of knowledge and ethical rigor.
- Whether you’re working in Mumbai, New York, or London, being a CFA charterholder earns you instant credibility.
Exposure to a Variety of Roles in Finance
- From portfolio management to equity research, the CFA equips you for a range of roles.
- Love crunching numbers or making strategic decisions? CFA has you covered with investment banking, risk management, and corporate finance roles.
Get Jobs Even After CFA Level 1
- Unlike many other certifications, CFA Level 1 alone is enough to land entry-level finance jobs, like research analyst roles.
- Many students in India start earning while progressing through the CFA levels, reducing financial strain.
Better Job Prospects at Top Investment Firms
- Companies like Goldman Sachs, JP Morgan, and BlackRock actively seek CFA charterholders.
- In India, CFA charterholders are in demand at ICICI Securities, Kotak Mahindra, and Deloitte.
Equipped for Analysis and Decision-Making
The CFA program trains you to:
- Analyze financial data.
- Make strategic investment decisions.
- Understand market trends like a pro. In short, it makes you the go-to person for solving complex financial puzzles.
Delivers Practical, Real-World Skills
Unlike theoretical courses, CFA focuses on practical applications. For example, instead of just learning formulas, you’ll understand how to apply them in investment decisions.
Enforces Ethical Standards
The CFA Institute emphasizes ethical practices, setting you apart in a world where integrity matters more than ever. It’s like having a “Good Finance Practices” badge on your resume.
Networking Opportunities for Faster Career Growth
- As a CFA candidate or charterholder, you’ll join a global network of professionals.
- CFA societies in India (e.g., Mumbai, Delhi) regularly host events, helping you connect with like-minded peers and potential employers.
Other Benefits
- Flexibility: You can pursue the CFA alongside a job or graduation.
- Cost-Effective: Compared to MBA programs, CFA is a much more affordable way to enter the finance world.
- Recognition in India: In a growing economy like ours, CFA-certified professionals are valued for their expertise.
Who Should Pursue The CFA Course?
The CFA program isn’t for everyone, but if any of the descriptions below sound like you, it might just be the perfect fit!
- Students Looking to Enter Core Finance: Are you a BCom or BBA student fascinated by finance but unsure how to break into the world of investment banking, equity research, or portfolio management? CFA can help you build a strong foundation in finance, giving you an edge over peers.
- Professionals Looking to Change Job Profiles: Stuck in a financial sales role or any job that doesn’t excite you? Transition to more analytical and decision-driven profiles like risk management or asset management with a CFA designation.
- Professionals Who Want to Enhance Their Existing Degrees: Already have a degree in finance, economics, or even engineering? CFA can add a layer of expertise and specialization, making you stand out in a competitive job market.
- Professionals Who Want to Work with Top Finance Firms: Dreaming of working at JP Morgan, Morgan Stanley, or BlackRock? A CFA certification is a badge of credibility these firms value, often paving the way for roles in global finance.
- Professionals Who Want to Stay Updated on Financial Knowledge: The finance world evolves faster than your favorite OTT series. CFA keeps you updated with the latest tools, techniques, and trends to stay ahead.
- Professionals Who Don’t Have an MBA but Want Career Growth: Don’t want to spend two years and lakhs of rupees on an MBA? CFA offers a more affordable, flexible, and highly respected path to career advancement.
- Individuals passionate about investments: Whether you’re an investor or want to work in the stock market, CFA gives you the expertise to excel.
Eligibility & Requirements to Become a CFA
Becoming a CFA charterholder isn’t easy, but the journey is clear if you meet these requirements:
Educational Requirements
- CFA Level 1 Prep: You can start preparing after completing 12th grade. Exams can be given during your pre-final year of graduation or before 23 months of your degree.
- CFA Level 2: You’re eligible once you’re in your final year of graduation or before 11 months of your degree.
- To obtain the CFA charter, you must complete your bachelor’s degree.
Work Experience
To qualify for the CFA charter, you need:
- 4,000 hours of work experience acquired over a minimum of 3 years.
- This can include professional work, internships, or higher education (calculated as 1,000 hours per year).
Relevant Skills for Work Experience Include:
- Leadership and teamwork
- Business communication
- Problem-solving and critical thinking
- Professional judgment and time management
- Analytical skills and adaptability
Proschool Tip: Start working in relevant finance roles while pursuing CFA to meet this requirement faster.
Other Requirements
- A valid international passport (no passport, no CFA—make this your first step).
- You must live in a participating country (almost all countries are included except a few like North Korea, Cuba, or the Crimea, Sevastopol, Donetsk or Luhansk regions of Ukraine).
FAQs About The CFA Course Eligibility & Requirements
Still Have Doubts About CFA Eligibility?
Levels & Syllabus of the CFA Program
The CFA program has three levels, each testing a different set of skills.
The 3 Levels of the CFA Course
- CFA Level 1: Focuses on the basics of finance and investment.
- CFA Level 2: Deals with valuation and financial analysis.
- CFA Level 3: Focuses on portfolio management and wealth planning.
Syllabus Of CFA Level 1
Focus: Lays the groundwork in financial tools, ethics, and quantitative analysis.
| Subject | Weightage |
| Corporate Issuers | 6% to 9% |
| Economics | 6% to 9% |
| Financial Statement Analysis | 11% to 14% |
| Quantitative Methods | 6% to 9% |
| Alternative Investments | 7% to 10% |
| Derivatives | 5% to 8% |
| Equity Investments | 11% to 14% |
| Fixed Income | 11% to 14% |
| Portfolio Management | 8% to 12% |
| Ethical and Professional Standards | 15% to 20% |
Also Read – CFA Level 1 – Your Ultimate Guide to Exam Structure, Fees, Syllabus, Prep, Classes & More
Syllabus Of CFA Level 2
Focus: Application of concepts to real-world scenarios.
| Subject | Weightage |
| Corporate Issuers | 5% to 10% |
| Economics | 5% to 10% |
| Financial Statement Analysis | 10% to 15% |
| Quantitative Methods | 5% to 10% |
| Alternative Investments | 5% to 10% |
| Derivatives | 5% to 10% |
| Equity Valuation | 10% to 15% |
| Fixed Income | 10% to 15% |
| Portfolio Management and Wealth Planning | 10% to 15% |
| Ethical and Professional Standards | 10% to 15% |
Also Read – CFA Level 2 – Your Ultimate Guide to Exam Structure, Fees, Syllabus, Prep, Classes & More
Syllabus Of CFA Level 3
Focus: Advanced portfolio management and wealth planning.
| Subject | Weightage |
| Asset Allocation | 15–20% |
| Portfolio Construction | 15–20% |
| Performance Measurement | 5–10% |
| Derivatives and Risk Management | 10–15% |
| Ethical and Professional Standards | 10–15% |
| Pathways (Portfolio Management or Private Markets or Private Wealth) | 30–35% |
CFA PSM (Practical Skills Module)
In order to keep the CFAs updated about latest tools & improve the hands on experience, The CFA Institute in 2023 introduced a Practical Skills Module or PSM which is a combination of videos, MCQs, guided practice & case studies.
Along with passing each level, you will now have to clear one CFA PSM module in order to achieve your result! The CFA PSM Module includes –
- Analyst Skills
- Financial Modeling
- Portfolio Development and Construction
- Python, Data Science & AI
- Python Programming Fundamentals
Also Read – What Is CFA Practical Skills Module (PSM) | How To Choose The Right PSM
Changes in CFA in 2023
The CFA program underwent some important changes in 2023 to keep up with the demands of the modern finance industry:
- Introduction of PSM: A new Practical Skills Module is now mandatory, ensuring candidates gain hands-on experience.
- Additional Study Support: CFA now provides official practice questions and learning materials to help candidates prepare better.
- More Flexible Exam Scheduling: Exam windows have been extended, giving candidates more options to choose their dates.
Also Read – 6 Important CFA Updates & Curriculum Changes Announced in 2023
CFA Exam Pattern & Important Details
The CFA exam is no walk in the park—it’s more like climbing a steep mountain while juggling calculators and ethics textbooks. Here’s everything you need to know about the exam pattern and key details:
CFA Exam Pattern of Each Level
| Level | CFA Exam Focus | CFA Exam Format | CFA Exam Duration | Proschool Advise |
| CFA Level 1 | Basics of finance and investment | 180 Multiple-Choice Questions | Two sessions of 2 hours, 15 mins each | The students are recommended to take the help of the CFA Institute Learning Ecosystem (LES) and take online mock tests. All questions are, by default, based on the International Financial Reporting Standards (IFRS). However, the students should still learn about US GAAP. When the questions are based on US GAAP, they will be mentioned specifically. |
| CFA Level 2 | Application of concepts | 88 Item Set Questions (mini case studies) | Two sessions of 2 hours, 12 mins each | Here too, the students are recommended to take mock tests to get familiar with the exam’s format. Students who have cleared this exam have reported studying for at least 300 hours. |
| CFA Level 3 | Portfolio and wealth management | 11 Essay Questions & 11 Item Set Questions | Two sessions of 2 hours, 12 mins | The number of item sets and essay questions will be 5 or 6. It has a vignette form of questions along with MCQs. A word of caution for future exam takers, ensure to be mindful of the time you allocate to the exams in this level. |
Important Dates of the CFA Exam
CFA exams are conducted 4 times a year for Level 1 and 2 times a year for Levels 2 and 3. Here’s how it usually works:
- February, May, August, and November: CFA Level 1
- May and August: CFA Levels 2 and 3
Proschool Tip: Always register early for lower exam fees and secure your preferred exam center.
Also Read – How To Register For CFA Exams? When Should You Register & Book Your CFA Exams?
FAQs About CFA Exam Pattern:
Also Read – How Difficult is the CFA Program? | Can an Average Student Pass the CFA Exams Easily?
Did You Know That Students Enrolling In Proschool’s CFA Prep Course Get Exam Pass Commitment?
How to Become a CFA Charterholder?
Becoming a CFA charterholder is like completing a marathon—it’s not easy, but the rewards at the finish line are well worth it. Here’s your step-by-step guide:
Step 1: Check Your Eligibility
Step 2: Enroll in the CFA Program
Step 3: Enroll In Proschool’s Online/Offline CFA Coaching Classes
Step 4: Pass All 3 Levels of the CFA Exam
Step 5: Gain Relevant Work Experience
Step 6: Apply for the CFA Charter
Scope of CFA in India & Abroad
A CFA charter opens doors to prestigious roles across the globe. Whether you’re based in Mumbai or Manhattan, your skills as a CFA charterholder will be in demand.
What Exactly Does a CFA Do?
As a CFA charterholder, you’re the go-to expert in:
- Investment Management: Helping clients grow their wealth by making smart investment choices.
- Equity Research: Analyzing stocks and providing actionable insights.
- Portfolio Management: Building and managing diversified investment portfolios.
- Risk Management: Identifying and mitigating financial risks.
Think of yourself as a financial detective—analyzing numbers, solving complex puzzles, and making recommendations that impact businesses and individuals alike.
Jobs & Salaries Of CFA in India
India is becoming a financial powerhouse, and CFAs are highly valued here. Some roles you can expect:
- Jobs: Research Analyst, Risk Manager, Portfolio Manager, Financial Advisor.
- Top Employers: ICICI Securities, Kotak Mahindra, Deloitte, and even startups in the fintech space.
- Salaries:
- Entry-Level: ₹6–12 LPA.
- Mid-Level: ₹15–30 LPA.
- Senior-Level: ₹30–50 LPA.
Also Read – CFA Jobs & Salaries In India After CFA Level 1, Level 2 & Level 3
Jobs & Salaries Of CFA Abroad
Globally, the CFA charter is recognized as the gold standard in finance, making you a strong contender for top roles in investment hubs like New York, London, and Singapore.
- Jobs: Asset Manager, Hedge Fund Analyst, Chief Investment Officer.
- Top Employers: BlackRock, JP Morgan, Goldman Sachs.
- Salaries:
- Entry-Level: $70,000–$120,000 annually.
- Senior Roles: $150,000–$300,000 annually.
Read about CFA jobs and salaries in Canada, UK, USA, Germany and Dubai. Find out what you’ll earn in each profile throughout your career!
FAQs About CFA Jobs & Salaries
Cost & Duration to Become a CFA
Becoming a CFA charterholder requires both time and money, but think of it as an investment in yourself—one that can yield impressive returns in your career. Here’s what you need to know about the cost and duration:
Duration To Complete CFA Course
The CFA course is designed to be rigorous, with each level requiring a significant time commitment.
- CFA Level 1:
- Preparation Time: ~300 hours.
- Completion Time: 6 months (exam offered 4 times a year).
- CFA Level 2:
- Preparation Time: ~350 hours.
- Completion Time: 6 months (exam offered twice a year).
- CFA Level 3:
- Preparation Time: ~400 hours.
- Completion Time: 6 months (exam offered twice a year).
Total Duration: On average, it takes about 2.5 to 3 years to complete all levels, provided you clear each on the first attempt. Realistically, plan for 3–4 years considering work-life balance.
Also Read – How to complete CFA in 1.5 years
Cost Of CFA At Each Level
The cost of becoming a CFA includes fees paid to the CFA Institute, along with other expenses like coaching, calculators, and study materials.
| Expense | CFA Level 1 | CFA Level 2 | CFA Level 3 |
| Registration Fee (one-time) | $350 (~ ₹30,000) | N/A | N/A |
| Exam Fees (early registration) | $990 (~ ₹90,000) | $990 (~ ₹90,000) | $990 (~ ₹90,000) |
| Exam Fees (standard registration) | $1,290 (~ ₹110,000) | $1,290 (~ ₹110,000) | $1,290 (~ ₹110,000) |
| Rescheduling Fee | $250 (~ ₹21,500) | $250 (~ ₹21,500) | $250 (~ ₹21,500) |
| Study Materials (optional) | ₹30,000–₹50,000 | ₹30,000–₹50,000 | ₹30,000–₹50,000 |
| Financial Calculator | ₹8,000–₹12,000 | N/A | N/A |
| Coaching | ₹40,000–₹1,00,000 | ₹40,000–₹1,00,000 | ₹40,000–₹1,00,000 |
Once you complete all the 3 levels of the CFA Course and apply for the charter, you’ll have to pay a yearly fee of $299 (~₹25,500) to CFA Institute.
All in all, combining the fees paid to the CFA Institute and other costs, the total cost of pursuing the cfa course is minimum INR 3 Lakh and can go upto INR 7 – 8 Lakhs.
Proschool Tip: Early registration can save you significant money, so plan ahead and book your exam slots in advance.
CFA Scholarships
Scholarships are a great way to reduce the cost of becoming a CFA. The CFA Institute offers the following scholarships:
- Access Scholarship: For candidates with financial constraints; reduces exam fees to $250.
- Student Scholarship: Available to university students; reduces exam fees to $350.
- Professor Scholarship: For full-time professors teaching finance-related courses.
Note: The CFA Women’s Scholarship and CFA Regulator Scholarship were discontinued in 2024, so they’re no longer available.
Also Read – CFA Scholarships – Types, Eligibility & Application Process
CFA vs Other Finance Courses
How does CFA compare to other popular finance certifications? Let’s break it down.
CFA vs CFP (Certified Financial Planner)
| Aspect | CFA | CFP |
| Focus | Investment management, equity analysis | Personal financial planning, insurance |
| Difficulty | High | Moderate |
| Duration | 2.5–4 years | 6–12 months |
| Career Options | Portfolio manager, risk analyst, equity researcher | Financial planner, wealth advisor |
Proschool’s Verdict: Choose CFA for corporate and global finance roles; go for CFP if you’re more interested in helping individuals plan their finances.
Also Read – Detailed Guide on CFA vs CFP & How to Choose the Best Course?
CFA vs FRM (Financial Risk Manager)
| Aspect | CFA | FRM |
| Focus | Investment management and valuation | Risk management and analysis |
| Difficulty | High | High |
| Duration | 2.5–4 years | 1–2 years |
| Career Options | Portfolio manager, investment banker | Risk manager, credit analyst |
Proschool’s Verdict: If you aim for broader finance roles, CFA is the way to go. FRM is better suited for risk management specialists.
Also Read – Difference between CFA and FRM & How to Choose the Best Course?
CFA vs NISM (National Institute of Securities Markets Certifications)
| Aspect | CFA | NISM |
| Focus | Global finance, investment management | Securities and stock market operations |
| Difficulty | High | Low |
| Duration | 2.5–4 years | 3–6 months per module |
| Career Options | Global finance roles | Stockbroker, compliance officer |
Proschool’s Verdict: NISM is entry-level and India-focused, while CFA provides global recognition and career opportunities.
Also Read – CFA vs NISM | Full Form, Course Details, Fees, Duration, Jobs | Reality of Both Finance Courses
CFA vs ACCA (Association of Chartered Certified Accountants)
| Aspect | CFA | ACCA |
| Focus | Investment and portfolio management | Accounting, auditing, taxation |
| Difficulty | High | Moderate |
| Duration | 2.5–4 years | 2–3 years |
| Career Options | Equity research, asset management | Auditor, accountant, finance manager |
Proschool’s Verdict: CFA is better for investment and asset management roles. ACCA is ideal for accounting and audit professionals.
Also Read – ACCA vs CFA — Key differences and comparisons
Challenges of Becoming a CFA & How To Overcome Them
The CFA journey isn’t for the faint-hearted. It’s challenging, demanding, and sometimes feels like you’re climbing Mount Everest—only the mountain is made of finance textbooks. Here are the key hurdles you’ll face and how to overcome them:
Extensive Syllabus
- The CFA syllabus is as vast as a Bollywood movie universe—10 subjects per level, covering everything from ethics to derivatives.
- Solution: Break your study into manageable chunks with a clear schedule. Proschool’s customized study plan can help you stay on track.
High Commitment
- Balancing work, studies, and personal life while preparing for CFA can feel like juggling three cricket balls at once.
- Solution: Discipline is key. Consider joining a structured training program like Proschool, where you get 200+ hours of classroom support.
Low Pass Rates
- With Level 1 pass rates often below 50%, clearing each level requires serious preparation.
- Solution: Take advantage of Proschool’s mock exams and practice questions to simulate the real test environment.
Also Read – Breaking Down CFA Pass Rates by Levels and Years
Financial Costs
- While CFA is more affordable than an MBA, the exam fees, study materials, and optional coaching can add up.
- Solution: Look into CFA scholarships and early registration discounts to reduce costs.
Time Management
- Each level demands 300–400 hours of study time. Finding those hours can be tough, especially for working professionals.
- Solution: Proschool’s flexible batch schedules and monthly starts can help you manage your time effectively.
Ethical Standards
- The ethics section isn’t just about rules—it’s about understanding complex scenarios and making the right call.
- Solution: Regular practice and case studies, like those offered by Proschool, can help you master this section.
Why Study CFA at Proschool
Having trained 5000+ CFA aspirants with 84% of our students recommending others to join us, Proschool’s CFA Prep Course is a testament of its own success. Proschool has 15+ CFA coaching centres across India and is rapidly expanding. Here’s a glimpse of what you get by enrolling at Proschool’s CFA Prep Course –
- Introductory M0 Module – Unsure if CFA is for you? Proschool’s M0 module helps you assess your interest and understanding of finance before committing.
- 200+ Hours of CFA Level 1 Training – Expert-led classes give you a solid grasp of concepts, ensuring you’re well-prepared for the exams.
- Exam Pass Commitment – Didn’t clear the exam? Proschool offers unlimited classroom sessions and doubt-solving support until you pass.
- 5 Mock Exams & 2000+ Practice Questions – With Proschool’s extensive question bank, you’ll walk into the exam with confidence.
- Job Opportunities After Level 1 – You don’t have to wait to complete all three levels. Proschool prepares you & connects you with job opportunities after clearing CFA Level 1.
- Updated Curriculum with Financial Modeling & Python – Proschool ensures you’re not just CFA-ready but also job-ready with added training in financial modeling and Python.
- Faculty are CFA Charterholders – Learn from experienced professionals who’ve been in your shoes and know the path to success.
- Customized Study Plan – Proschool provides a 6-month study plan covering all 10 subjects and 3 months for revision, making sure you’re exam-ready.
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