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What is the Scope of a CFA in India?

Thinking about the next career step? Planning to do CFA? Well, you are on the right track. Through this blog, let us understand the CFA course details in India, what is CFA course, what is the CFA course syllabus, and what is the CFA course eligibility criteria. This blog will be covering all about the CFA course so let’s quickly get started.

So, what is the CFA course?

Why do CFA?

  1. There are plenty of job opportunities available in the financial market, but nothing on your resume can guarantee you a job. However, people in the industry are familiar with how much time and discipline is needed to acquire this credential. This will indeed help you demonstrate your work ethic, communication skills, and your analytical ability.
  2. The CFA certification is considered a niche in the business world compared to other courses like MBA, which focuses on different aspects of business and has less depth. However, the topics that will be covered under CFA are as follows: 
    1. Analytical Skills, 
    2. Financial Reporting, 
    3. Economics, 
    4. Investment Analysis, 
    5. and Portfolio Management. 
    6. Such skills will come in handy throughout your career.
  3. Pursuing a CFA course is much flexible as compared to pursuing an MBA. The major reason is you can simultaneously study while working. You need not quit your job, which is not always possible while studying MBA full time. The investment is also much higher when you pursue an MBA full-time.
  4. You get a chance to be a part of a global community after you complete your CFA course. It&rsquo’s an elite club that provides various networking opportunities and prepares you well for various investment-related jobs. As per research conducted, 7% of CFA holders are promoted to chief-level executives.
  5. Better job prospects are available once you complete the CFA credential as it helps you build core knowledge in the field of Investment Analysis, Ethics, and Asset Management. The investing institutes like an insurance firm or a mutual fund prefer a CFA over an MBA.

Why Study CFA Course?

That’s quite a motivational message right while considering why CFA. 

Let us now understand what the CFA course syllabus is: The CFA course covers the following topics:

  1. Ethical and Professional Standards 
  2. Quantitative Methods
  3. Economics 
  4. Financial Reporting and Analysis 
  5. Corporate Finance 
  6. Equity Investments 
  7. Fixed Income 
  8. Derivatives 
  9. Alternative Investments 
  10. Portfolio Management and Wealth Planning 

The top ten employers of CFA are:

  1. Wells Fargo 
  2. Morgan Stanley 
  3. Citigroup 
  4. Bank of America 
  5. HSBC 
  6. JP Morgan Chase 
  7. PricewaterhouseCoopers 
  8. Ernst and Young 
  9. UBS 
  10. Merrill Lynch

What is CFA Course Eligibility in India

Let us now understand who is eligible for a CFA course:

  • Unfortunately, people who have just completed 10+2 are not eligible to pursue the CFA course. 
  • To pursue the CFA course, one must be in the final year of graduation or must have completed graduation.
  • Or the candidate can have a total of four years of relevant professional work experience or a combination of work/college experience.
  • The CFA course is meant for those professionals who want to upskill and make a mark in the Finance domain. 
  • It is also targeted towards those professionals who want to learn the pre-requisite skills before stepping into the corporate world.

Often the CFA course is compared with the CA course. Let us now understand the difference: There is always a debate as to which course is better, CA or CFA? CA focus on completely different topics and majorly on the Indian Accounting Standards, whereas CFA is globally recognized and more into Investment Analysis and Portfolio Management. The difficulty level for both the courses differs as the syllabus differs. But moreover, it comes down to the student’s caliber, level of focus, dedication, and the amount of time a student can invest. As the CFA has three levels, CA also has three levels which can be classified as CPT, IPCC, and CA final examinations. If you wish to work abroad, then you must consider the CFA course.

What are the Benefits of a CFA Course?

Scope of CFA in India:

  • After completing the CFA course, professionals are not just restricted to Portfolio Management and Investment Analysis but are open to working as a trader, a consultant, Quantitative Data Analyst, or even work in Real Estate, Fixed Income, Investment Banking, Private Equity, etc.
  • The roles offered are mainly in the capital markets, and the opportunities must be grabbed even during the start of your career. 
  • Once you complete the CFA course, you can move up the ladder and secure your position in the mid-level and executive levels. 
  • Internships play a very big role and help in understanding what the role entails and what responsibilities they come with.

 

We all are well versed with how well the banking industry pays and what it has to offer in terms of monetary benefits. After you complete Level 1, you can make about 3- 4.5 L per annum. Once Level 2 is completed, one can earn nearly up to 6 L per annum. And once the final level, which is level 3, is completed, one can make about 10 L per annum. A CFA Charterholder, who has a very rich experience of about 15 years in the industry, earns a minimum of 50L annually in India.

We hope you are all excited and well informed about what CFA as a career option has to offer. Are you ready to start your journey as a Chartered Financial Analyst?