CFA Institute was established in 1947. Over these 70+ years, The CFA® Program has emerged as the benchmark qualification for the investment industry. It has grown to over 150,000 charter holders around the world in more than 165 countries. These charterholders today work as Portfolio Managers, Equity Research Analysts, Fund Managers, Wealth Managers, CFOs and Risk Consultants.
Completing The Program confirms mastery over the rigorous curriculum as can be evidence by you. Clearing all the three levels of the exam is the main requirement for earning the CFA® charter. It covers content required for investment industry segments like Equity, Fixed Income, Private Equity, Derivatives and Real Estate.
Leading global recognition
These designation is one of the most recognised and respected investment credentials in the world with more than 60 years of legacy.
Better job prospects at the top investment firms:
The Program has an in-depth focus on financial modelling, portfolio management, and other investment related areas. Top investment firms, asset management, hedge funds value this knowledge base and give more preference to charter holders than other candidates from related fields.
Exposure to a variety of roles in finance
The Program is not just limited to investment banking and equity research, but plenty of other profiles as well. Today, be it Fintech, Foreign Exchange, Alternative Investments or other offbeat profiles, CFA® chartedholder are the most preferred options for employers.
Equipped for analysis and decision-making
It enables the students to be adept at decision making by incorporating reasoning and judgment skills in them
Enforces ethical standards
These charterholders upholds the highest professional standards and abides by a strict code of ethics.
Implements global best practices
Extensive ongoing analysis ensures that charterholders uphold the best global practices in their work.
Delivers practical, real-world skills
The charter is conferred after the completion of 4 years of relevant professional engagement, which means that the institute believes in practical skills. The curriculum is also designed in a way which helps you to tackle the real-world scenarios in an effective way.
More time and cost-effective than an MBA Finance program
The Qualification is one of the best options to an individual who does not have the time or the resources to go through a full-time MBA Finance program for entering the investment finance industry.
Networking opportunities for faster career growth:
CFA Societies® present worldwide give you access to more resources to boost your career prospects. Being part of these societies will not only increase your networking opportunity but also your chance of landing a dream position. They also post job openings specifically for charter holders.
As International financial firms are focusing on the reduction of the cost of labour, they are outsourcing the majority of the work in India due to cost advantage. All the international KPO ’s, investment banking and financial servicing firms are looking for the highest credential in investment finance industry like CFA® charter, which is a great opportunity for the CFA® charterholders in India.
Stock brokers in India which slowly reaching bigger scale of operations and international operations prefer candidates with the CFA® designation
Wealth management industry has been growing at a rate of 20% Y-O-Y and as more and more HNI are coming from india, there is a huge need of such charterholders in the wealth management companies
This program is split-up into 3 levels
Level I –
Level II –
Level III –
Eligibility
To be eligible to apply for The CFA® Program, you must hold an international passport and one of the following:
The Program curriculum at Glance
| The CFA® Programs Topic wise weightage | |||
| Topic Area | Level I | Level II | Level III |
| Ethical And Professional Standards | 15% | 10-15% | 10-15% |
| Quantitative Methods | 10% | 5-10% | 0 |
| Economics | 10% | 5-10% | 5-10% |
| Financial Reporting And Analysis | 15% | 10-15% | 0 |
| Corporate Finance | 10% | 5-10% | 0 |
| Equity Investments | 11% | 10-15% | 10-15% |
| Fixed Income | 11% | 10-15% | 15- 20% |
| Derivatives | 6% | 5-10% | 5-10% |
| Alternative Investments | 6% | 5-10% | 5-10% |
| Portfolio Management | 6% | 5-15% | 35 -40% |
| Total | 100% | 100% | 100% |
Exam details & historical pass rate
| Exam | Level I | Level II | Level III |
| Morning Session | 120 Questions | 60 Qs in 10 Case studies | Essay type |
| Afternoon Session | 120 Questions | 60 Qs in 10 Case studies | 60 Qs in 10 Case studies |
| Duration | 3Hrs for each session | 3Hrs for each session | 3Hrs for each session |
| Question type | MCQ | MCQ’s based on caselet | Essay + MCQ |
| Exam Month | First week of June and December | First week of June | First week of June |
| Previous pass % 2018 | 43% | 45% | 56% |
Other details:
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:
| Registration Type | Fees | Deadline (Approx.) |
| Early Registration Fee | USD 650 | 8 Months before exam date |
| Standard Registration Fee | USD 950 | 4 Months before exam date |
| Late Registration Fee | USD 1380 | 3 Months before exam date |
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.
“I enrolled for CFA® Program training in IMS Proschool. Faculty is very good. she explains the topic in detail. Material is excellent. They provide the online portal also in which there is questions on each topic. IMS Proschool is really helpful if you are planning to write exam”
“Everything is good in IMS Proschool faculty is very nice,they are very supportive and their method of teaching is also good, content in books is pretty much easy to learn coz of the way of representation, but Proschool also provide important questions and notes of difficult topics.”
Cooperative staff and well qualified faculty. Best institute for CFA® Program training in navi Mumbai.
“I selected this course because i have keen interest in understanding financial market, IMS Proschool has provided correct guidance for the exam. The basics were cleared and assistance was provided at any point in time.”
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