We’ve got three options to help you decide
What are the exam fees for all the three level Exams?
For the Level I exam, the candidate will have to pay one-time program enrollment fees of USD 450 apart from the Registration fees. The Registration fees for all the levels is the following:
|Early Registration Fee||USD 700|
|Standard Registration Fee||USD 1000|
How is the CFA® Program different from CA?
The focus area of CA is Auditing, Accountancy, and Taxation whereas the focus area of CFA® Program is Investment Banking, Equity Research, Investment Advisory Services, Portfolio Management, Wealth Management, etc.
CA is a statutory qualification in India whereas CFA® Program is an international qualification recognized by any Investment company across the world.
You can start preparing for the CA right after the 12th standard whereas you can start pursuing the CFA® Program only after graduation.
CFA® passing rate is between 40% and 50%, whereas the passing rate for CA is typically less than 10%
How is the CFA® Program different from CIMA?
The CFA® Program is investment oriented. Pursuing CFA® Program means getting into Investment Banking, Mutual Funds, Derivatives, Portfolio Management, Equity / Debt Research, Financial Services, Fund Management for large institutional investors, Banking Industry etc. It has more emphasis on the analysis and research side as compared to accounting.
In contrast, CIMA is an ‘management accounting qualification’ for those working outside public accounting (i.e. audit) It is more about accounting and related issues within finance departments and companies.
How is the CFP different from CFA® Program?
Both the qualifications are recognized across the world. The focus of the CFP curriculum is only to make financial plans for an individual whereas the focus of the CFA® Program curriculum is to not only make financial plans but also capable to do research and work in other domains of investments finance industry.
CFA® charter holders work in financial areas that deal with institutional investments where as CFP Certificants are involved in advising individual investors, typically with smaller investment portfolios.
Recognition: As an analyst with a CFA® designation, you would intensively analyze individual companies and industries.
Area: The CFA® charter holders is oriented towards financial research and analysis whereas the CFP looks at investment planning for individuals.
Duration: CFA® Programs takes at least 2 years to complete, while the CFP can be completed within a year.
Profile: After The CFA® Program, you can make a career in Portfolio Management, Investment Research, Advisory Services, or Investment Banking , while after the CFP you can make a career in the field of financial planning,
Eligibility: You can start pursuing the CFP after the 12th while you can sit for the level 1 of The CFA® Program only after graduation or during the final year of your graduation.
Expenditure: Total expenditure of the CFP along with tuition fee is INR 50,000 to INR 60000, The CFA® Program expenditure is between INR2 lakh to INR 2.2lakh.
Commitment: Compared to CFP, The CFA® Program exam is tough and requires more time commitment.
Salary: Average salary just after completing the CFP is in the range of INR 2 lakh to INR 4 lakh on the other hand after The CFA ® Program it is in the range of INR 4 lakh to INR 12 lakh.
Exams: To get the CFA® designation, you must take three exams, each one in a separate year. The exams cover Finance, Accounting, Economics, Investments, and Ethics while in CFP you have to write five exams viz Investment, Retirement, Tax, Insurance and Advance Financial Planning.
Work Experience: In both CFP & The CFA® Program, you need to meet certain education and work experience requirements. You need to have 4 years of relevant work experience for The CFA® charter and 3 years of relevant work experience for the CFP Certification.
I am an Engineer, how will CFA® Program help me?
Without an MBA degree from a reputed B School, it is tough for engineers to get into finance, but with the CFA® Program, it is possible because the CFA® Program is focused on Investments.
If you’re an engineer who wants to make a career shift to a financial field then the top priority should be a CFA® Program.
The engineering background gives him/her quantitative problem-solving skills. Along with this if she/he has a CFA® charter she/he is a perfect match for the investment industry.
If you’re good at numbers and have an interest in finance, you should do the CFA® Program Financial engineering/quantitative finance is a field where they like to hire engineers.
Should I do Fnancial Modeling along with The CFA® Program?
The CFA®charter is a qualification whereas Financial modeling is a skill used in the investment finance industry.
The CFA® charter is an indispensable qualification for professionals who are looking for a long-term career in investment analysis. CFA® Program will prepare you conceptually for subjects such as Financial Reporting Analysis, Fixed Income, Economics etc.
In Financial Modeling you will learn how to use the concepts of Financial Statement Analysis, Economics in practice. In Financial Modeling you do all the calculations on excel whereas in the CFA® Program you will solve all the calculations on the Financial Calculator. It will teach you to perform company valuations and make you job ready from day 1. Many students do Financial Modeling first before pursuing CFA® Program, because it will help them prepare the foundation for CFA® Program at the same time it can help them get a job in Equity Research, Financial KPOs, etc.