Why Do CFA After CA: Top 7 Benefits To Do CFA

The competition in the job market is ever increasing. While the demand for finance professionals has never seen a low, the best and the most well paying jobs are always occupied by highly qualified graduates. That’s why several finance students today prefer going for dual certification, in order to increase their value globally and gain cutting-edge professional skills. 

We know that having a Chartered Accountancy degree in itself is a huge achievement. But sometimes it’s not the end, you can pursue another prestigious qualification to advance your career. If the combination of  Chartered Financial Analyst after CA is currently making rounds at the top of your mind, then you’re about to get equipped with some interesting information on this duo.

Top 7 benefits of pursuing CFA after CA

1. Clearing the CFA level 1 exam is a cakewalk for CAs

CFA Level 1 is tough to crack, but not for those who have already cleared their CA levels. A major chunk of the CA syllabus overlaps with the Level 1 of the CFA examination. While you will need some practice on the concepts before you appear for the examination, you won’t need strenuous preparation for it. Additionally, if you’ve had a strong score in SFM, you surely have nothing to worry about. Ease in obtaining certification to other accounting courses of the major benefits of CA.

2. You’ll gain a vast amount of industry knowledge 

Chartered Financial Analyst is a professional certified course offered directly by the CFA Institute. This globally recognized certification provides a strong footing in the field of investment and trains you to effectively analyse portfolios, manage wealth and the stock market. The CFA course is very practical in nature, covering everything you need to know about the finance industry from a very practical view. The CA course on the other hand helps you understand complex accounting, taxation, law, and audit concepts. When you master both these courses, you acquire a gamut of financial knowledge that opens up a plethora of opportunities.

3. Having two prestigious accounting degrees creates a global value

While the CA course prepares you for the accounting challenges in India, Australia, the Middle East, Ireland, and some parts of Europe, the US CFA course prepares you for finance analysis challenges throughout the globe. After completing both these courses, you will gain a unique skill set that gives you a competitive edge over the professionals with a single degree. CFA after CA not only increases your demand but also your global value. Instead of one prestigious title, you would be holding two!

4. You could get a chance to work at a treasury or a multinational bank

If you wish to work at a prestigious global bank, CFA after CA degree can get you there. And with your CA degree, you’ll be adding more value to your job profile. CFA charterholders have great demand in both, private and commercial banks. Other sectors that demand CFAs include consulting, investment banking, asset management, and brokerage. 

5. A CA degree will open doors, CFA will enable you to climb the corporate ladder

Once you’ve completed your CA, you can be sure of several opportunities flowing towards you. From small organisations to large corporations, every company needs the skills you possess. Though, while you start off your career as CA, you’ll also encounter many challenges that require an in-depth knowledge of financial markets to make the best decision. That’s when the CFA degree will come to your rescue and guide you in a better way.

6. You get to be complete finance professional 

Understanding the field of accounting and finance is a big plus point for your career growth. This not only helps you gain more skills but also broadens your scope as a job seeker. CFA opens gateways to some of the most desired and glamorous career pathways – one of these being investment banking. You can also apply for various positions in companies and for government institutions anywhere in the world. 

7. Your earning potential will increase drastically

CFA and CA, are some of the most sought-after professional certifications in the finance and accounting industry. Due to this fact, individuals having either one of them, take home handsome salaries and have great exposure in their respective professional domains.  The average salary that a CA earns in India is around INR 8.2r4 lpa, while after completing all 3 CFA levels, they can expect to earn up to INR 15 lpa.

Also Read: 6 Facts You Didn’t Know About The CFA Qualification

The Difficulty Level of CA vs CFA

Most finance and accounting students often wonder ‘which course is more difficult to pursue, CA or CFA?’ Well, the answer to this question is – both. The Chartered Accountancy course as well as the Chartered Financial Analyst course, both of them are tough to crack. However, if you’ve already managed to clear the first level of any one of these competitive exams, chances are, you can ace both these courses and gain a dual certification. All you’re going to need is patience, hard work, practice and consistency.

CFA has a total of three levels and takes about two to three years to complete. The CA course on the other hand comes with CPT, IPC and Finals with mandatory articleship training. Clearing these levels along with articleship training takes about 5 years. If you happen to pursue other accounting courses like M.Com, BBA or CFA during this time period, you’ll be strengthening your knowledge base drastically and making the most of your learning duration.

Coming back to the difficulty level of these exams, the CFA Level 1 has an average pass rate in 44%, Level 2 – 45% and Level 3 – 55%, over the decade. It covers some advanced finance concepts that can be tough to decode. CA has a total pass rate of about 15% in its final examination. Luckily, you don’t have to prepare for these courses all by yourself. For CFA, you can get expert guidance and knowledge by coaching with Zell Education, as we offer an interactive Chartered Financial Analyst course. 

The benefits of holding a dual degree, that makes you a master of both finance and accounting, are unmatched. Be it in terms of career growth, responsibility, prestige or payscale, you’ll be a step ahead of other finance professionals in every way. As you embark on your journey towards becoming a successful Chartered Accountant and Chartered Financial Analyst, make sure to choose a learning partner that makes you industry-ready in every way. Zell Education is a new age learning platform that ensures that you gain cutting-edge professional skills.

The Chartered Financial Analyst is a globally recognised qualification in the field of finance and investment. If you have recently completed your graduation or are appearing for your final semester, you may be eligible to become a CFA. Interested? We highly recommend checking out our Chartered Financial Analyst (CFA) course.

FAQ

Can I pursue CFA after CA without completing B.Com?
You can appear for Level 1 of the CFA exam as soon as you are in the final year of your undergraduate. If you don’t have a graduation degree and just 4 years of work experience in any domain, you would still be eligible for CFA Level 1. Since CA does not come under the CFA institute regulations, the eligibility criteria for it differs from that of CFA.

Who earns more CA or CFA?
While a fresh CA graduate earns up to 6-8 lakhs pa, a CFA Level fresher earns up to 4 lakhs pa. With experience and additional qualifications, the income is bound to increase for both these professions. A Charterholder and a fresher CA earn almost the same.

What is the salary of a CA, CFA and MBA?
A qualified CA, CFA and MBA can earn upto 2 lakhs a month when working for an MNC. However, for any smaller organisation, you could stand out to be overqualified.

Anant Bengani, brings expertise as a Chartered Accountant and a leading figure in finance and accounting education. He’s dedicated to empowering learners with the finest financial knowledge and skills.