CA VS CFA - Which is the Better Option in India?

Becoming a Chartered Accountant (CA) or going after a Chartered Financial Expert (CFA) qualification is a crucial point of decision for any type of future financing profession in India. Both courses, CA that is approved by the Institute of Chartered Accountants of India (ICAI) and CFA controlled by the CFA Institute featured enormous classifications. Nonetheless, in CA or CFA, each choice has different emphases and prospects.

CA vs CFA difference: Although CA provides individuals with in-depth understanding of Indian financial laws and taxation necessary to work within the corporate world, CFA concentrates on worldwide financial investment management and financial analysis. Therefore the choice should be based upon the particular person's ambitions matched with possible career opportunities offered by both CA and also CFA.

Is CA or CFA the Better Choice in India?

Which is better, CA or CFA? Well choosing between good and bad is easy, but selecting between two good courses is difficult. The CA course needs a five-year dedication and also consists of 3 degrees specifically structure, intermediate, and last. You can enroll for the CA course immediately after clearing class 12 or after graduation. Moreover Chartered Accountancy provides flexible job opportunities for students in India and also other career opportunities for trainees in India

The CFA course is usually complete in a time frame of between two and half to four years. It has three levels, each concentrating on different issues relating to investment management and financial analysis in detail. 

Level I mainly concentrates on general knowledge about investment tools and concepts, Level II goes much deeper into asset valuation as well as application of tools in investment decision-making and Level III emphasizes portfolio management as well as wealth planning. Each level involves a six-hour exam with multiple choice questions for level one, item set questions for level two and essay type responses for level three. 

What is the difference between CA and CFA?

Since both CFA and CA course attract students, let's get into the question of CFA vs CA, and discuss the key differences between both courses, and also various other aspects related to both the courses.

Aspect	CFA	CA
Focus Area	Investment Management	Accounting, Auditing, Taxation
Offered By	CFA Institute	Various Institutes (e.g., ICAI in India)
International Recognition	Yes	Yes
Primary Industry	Finance, Investment Banking, Asset Management	Accounting, Financial Services, Consulting
Exam Structure	Three Levels	Multiple Levels (Foundation, Intermediate, Final)
Duration to Complete	Typically 2-3 years	Typically 3-5 years
Curriculum	Investment Analysis, Portfolio Management, Ethics	Accounting Principles, Taxation Laws, Auditing Standards
Professional Membership	Yes	Yes
Regulatory Authority	Independent	Governed by Statutory Bodies (e.g., ICAI in India)
Specializations	Finance, Equity Analysis, Fixed Income, Derivatives	Auditing, Taxation, Financial Management
Job Roles	Financial Analyst, Portfolio Manager, Risk Manager	Auditor, Tax Consultant, Financial Controller
Skill Emphasis	Financial Analysis, Investment Evaluation, Ethics	Accounting Standards, Tax Laws, Auditing Procedures
Career Growth Potential	High	High
Salary Potential	Competitive, with potential for high earnings	Competitive, with potential for high earnings
Continuing Education Requirement	20 hours of continuing education annually	40 hours of continuing education every three years

Salary of CA in India

The typical salary range for an Indian Chartered Accountant (CA) is around INR 600,000 - 800,000 per year, but this varies depending on factors such as location, experience, and company size. However, more experienced CAs with multinational corporations tend to earn higher salaries. In addition, the ones in Mumbai and Delhi are paid highly compared to those locals from smaller towns who work in the same capacity.

Jobs profile	CA Salary per annum (Avg)
Finance officer	35 lakh
Account executive	25 lakh
Accountant	25 lakh
Finance controller	24 lakh
Finance manager	13 lakhs
Chartered accountant	12 lakh
Financial analyst	12 lakh
Assistant account manager	10.5 lakh
Senior account executive	6 lakh
Senior Accountant*	5.3 lakh
Business analyst	4 lakh
Account assistant	4.2 lakh

 

Salary of CFA in India

After obtaining the CFA Level 1 certification, professionals can expect an average salary of around INR 5 Lakhs to 8 Lakhs per year. Upon completing Level 2, salaries may increase from INR 10 Lakhs to 15 Lakhs.

 

Experience Level	Average Salary Range (INR)
Entry Level (0-2 years)	4,00,000 - 8,00,000
Mid-Level (2-5 years)	8,00,000 - 15,00,000
Senior Level (5+ years)	15,00,000+

CFA Course Fees

• Expenses to CFA Institute: The method of payment to be made for CFA Institute is uncomplicated. CFA course fees include:
• Pre-Registration Fee: USD 940 (approximately INR 78,881.54)
• Standard registration fee: $1250 (about INR 103791).
• The charges for the CFA Level 1 examination are approximately USD 350 (INR29061) 
• The charges for the CFA Level 2 examination amount to around USD 350 (INR29061). 
• The charges for the CFA Level 3 examination amount to around USD 350 (INR29061).

CA Course Fees

• The ICAI total fees for the CA Course is approximately 2-3 lakhs in India. 
• The CA Foundation course fee is Rs. 11,300.
• The ICAI CA Intermediate fees is Rs. 28,000 and can vary depending on the institution.
• The ICAI CA Final course fee is Rs. 39,800 and it can also vary depending on the institution.
• The fee for the direct entry candidate is Rs. 76200, which includes the exam form fees and registration fees only.

Read More:

• ACCA vs CA
• Best Guide to the CA Course
• How to Become an Investment Banker after CA?
• CFA vs FRM
• CFA course duration

Final Say on CA vs CFA

In the debate between which is tough CA or CFA, both CA and CFA present with their own benefits and skills. CA is an accounting qualification best suited for India while CFA designation is for finance professionals who want to gain a global perspective. But any of these courses should be aligned with your long-term professional goals since they will shape your future in terms of what area you would like to work in either CA or CFA.

Frequently Asked Questions (FAQs)

What is a chartered financial analyst?

It is an internationally accepted course that deals with finance. The course has three categories; investment management, economics, and accounting.

What’s the difference between CA and CFA?

The syllabus of CA mainly focuses on Accounting, Audit, and Taxation while that of CFA majors in Financials and Money Management.

Can a CA student opt for CFA?

Yes, students pursuing CA can opt for CFA courses.

Is CFA a difficult course?

Overall, the CFA exams are very difficult, but candidates can increase their chances of passing by studying for over 300 hours, utilizing alternative prep materials, answering as many practice questions as possible, and creating a structured study plan.