CFA vs CA: Which is Better for Your Career?

Pursuing a professional certification has become a trend amongst commerce students—individuals who especially want to be experts or work in high-profile jobs in the corporate sector. 

As the markets are expanding and becoming global, there are N number of options available to soar high in life. Therefore, whenever a discussion like this arises, CFA vs CA is the most talked about certification.

Many people are confused about the different aspects of both certifications, so let us take this opportunity and spread awareness of the CA vs CFA which is better by highlighting the difference between CFA and CA qualifications. 

An Overview of CFA vs CA India

It is considerably important to understand what CFA vs CA India qualifications offer and how they align with your career goals. So, when choosing between both credentials, note that both Chartered Financial Analyst vs Chartered Accountant offer distinct pathways. Let us read about the introduction before we discuss the difference between CFA and CA.

If you are a CA looking to expand into finance, pursuing CFA after CA can open up global opportunities in investment analysis and portfolio management. This combination strengthens your expertise, making you versatile across finance and accounting roles.

What is CFA?

CFA has grown steadily since 1962 to become a prestigious financial certification all across the globe. It is a three-year program enriching aspiring finance professionals with financial analysis and modeling skills necessary to excel in the fierce job market. 

Enrolling yourself in the best CFA coaching will help you become a professional Chartered Financial Analyst. The CFA course is a well-designed course to create high caliber finance experts to meet the rising demand of the volatile finance sector. Today’s market dynamics are really complex and to overcome these challenges, we need well-trained finance enthusiasts with a global perspective. 

What is CA?

Many commerce students consider CA as their ultimate goal and aim to become a Chartered Accountant. It is an elite accounting qualification that helps professionals build careers in accounting and finance. They are highly demanded in Indian businesses as they most rely on CA professionals. 

Becoming a CA requires the sheer dedication of 5 years or more to navigate all three levels: CA foundation, CA inter, and CA final. It is a course designed for individuals interested in public accounting and is awarded by the Institute of Chartered Accountants of India (ICAI). The articleship of the course helps candidates gain hands-on experience.

Difference Between CFA and CA 

The table below highlights the difference between CFA and CA, helping you make an informed decision based on your career goals.

Chartered Accountant vs CFA Eligibility

The eligibility criteria are different for both courses. CFA vs CA eligibility is one of the crucial deciding factors when choosing one of them.

CFA Eligibility

The CFA eligibility is open to every student aspiring to build a career in finance and accounting based on prior academic background, qualification, and experience. One must have completed a bachelor’s program and if you are a 2nd year student, you can appear for the CFA level I exam. Ensure that your exam must be 23 months or fewer before your graduation month. Even non-graduates having 4,000 hours of work experience can enroll in the CFA program. The CFA eligibility also requires you to be good in the English language and you must belong to a country participating with the CFA institute. 

CA Eligibility

Any +2 pass student can enroll in the CA course and is eligible to sit for the foundation level exams considering he/she must be good with accounting principles, mathematics, and analytical reasoning. A strong hold over commerce-related subjects such as business studies and economics is also beneficial, as these form the foundation of the Chartered Accountancy syllabus. Additionally, proficiency in logical reasoning and aptitude for problem-solving gained in their senior secondary will help students succeed in the CA Foundation exams.

Duration

The CFA vs CA duration varies, so knowing about it will help you balance your commitments with your studies. 

CFA Duration

Generally, there is no limit to the amount of time you have to complete the CFA Program. However, the students take up to 3 years to complete CFA.

CA Duration

Unlike CFA course duration, CA duration lasts for 5 or maybe more years until the candidate submits the articleship and gains the CA charter.

Syllabus

Considering the CA vs CFA syllabus can help you select a course that best aligns with your goals. 

CFA Syllabus 

A CFA candidate has to pass all three CFA levels and study these ten subjects given below, but the weightage of these subjects varies at all levels.

• Ethics and Professional Standards
• Portfolio Management
• Economics
• Corporate Issuers
• Alternative Investments
• Equity Investments
• Fixed Income
• Quantitative Methods
• Financial Reporting and Analysis
• Derivatives

CA Syllabus

The CA course is divided into three modules—CA Foundation has four subjects, CA Intermediate and Final has eight subjects to study.

1. CA Foundation: CPT (COMMON PROFICIENCY TEST)
   1. Fundamentals of Accounting
   2. Business Economics and Commercial Knowledge
   3. Business Mathematics, Statistics, and Logical Reasoning
   4. Business Laws and Business Correspondence and Reporting
2. CA Inter: IPCC (INTEGRATED PROFESSIONAL COMPETENCE COURSE)
   1. Accounting
   2. Cost Accounting and Financial Management
   3. Advanced Accounting
   4. Taxation
   5. Auditing and Assurance
   6. Business Laws, Ethics, and Communication
   7. Information Technology and Strategic Management
   8. Corporate and other Laws
3. CA Final: 
   1. GROUP 1
      1. Financial Reporting
      2. Strategic Financial Management
      3. Advanced Auditing and Professional Ethics
      4. Corporate and Economic Laws
   2. GROUP 2
      1. Strategic cost management and performance evaluation
      2. Electives
      3. Direct Tax Laws and International Taxation
      4. Indirect Tax Laws

CFA vs CA Difficulty 

Every course has its own level of difficulty but a professional must navigate all the Chartered Accountant vs CFA difficulty course rigor to become an expert.

CFA Difficulty 

As the level progresses, the level of CFA difficulty increases which is why the global pass rate is 40%. So it is not an easy peasy task to gain Chartered Financial Analyst certification, it requires significant hard work and dedication. 

CA Difficulty

Attaining a CA charter requires a professional to pass the stringent course syllabus. It is considered one of the toughest professional courses in India and candidates need to score a minimum of 40 percent in each subject and 50 percent overall, which is why the CA pass percentage is more than 10%.

Exam Details

Decision-making involves a consideration of various factors including CFA vs CA exam details.

CFA Exam Details

The CFA exam is objective and essay-based for level 3, which can take 3 years to complete. It is a computer-based exam. 

CA Exam Details

The CA exam is subjective, typically taking 5 years to complete, including exams and practical training. 

Fees

The CFA vs CA fees vary depending on the number of subjects a candidate must pass in CA vs CFA. 

CFA Course Fees

The CFA course fees must be paid in US Dollars, a candidate must register by paying USD 1,250 to the CFA Institute with a one-time enrollment fee of USD 350. Followed by CFA course fees for exams and tax charged while filling out your exam. It may cost around 2 Lacs in INR. 

CA Course Fees

Ca course fees vary depending on the level as follows:

CA Foundation Fee is INR 9,800 for registration, the CA Intermediate is INR 18,000 for registration, and INR 22,000 for CA Final registration. Accounting for a total CA course fee of INR 85,300 for Indian students for 5 years.

Job Opportunities

CFA can work globally but CAs work in India, as the accounting standards differ in various countries. So CFA vs CA job roles are distinct from each other.

CFA Job Opportunities

• Hedge fund manager
• Wealth manager 
• Investment banker
• Risk analyst 
• Financial analyst 
• Portfolio manager

CA Job Opportunities

• Forensic auditor
• Internal auditor
• Tax manager 
• Finance manager
• Company Secretary 

CFA vs CA Salary in India

The CFA vs CA salary quotient is one of the major deciding factors as it can motivate you to achieve far-sighted goals as well. 

CFA Salary Expectations

The CFA jobs done by professionals offer starting salaries ranging from Rs 6 to Rs 8 lakhs a year, but with a handful of years of experience, the CFA salary increases up to Rs 15 lakhs and once established as a senior professional, the annual salary can even cross Rs 50 lakhs.

CA Salary Expectations

CAs starting salaries range from Rs 5 to Rs 7 lakhs per annum, followed by mid-level seniors who earn around Rs 13 – Rs 15 lakhs and the professionals at high job roles earn Rs 40 lakhs a year and more than that as well.

Course Benefits

No doubt Chartered Financial Analyst vs Chartered Accountant follow distinct career paths benefiting professionals in many ways.

CFA Course Benefits

• Broadening your horizons, CFA increases your earning potential.
• It helps you network with the professionals as a member of the CFA community.
• CFA certification adds value to your resume and stands out to many top-notch recruiters. 
• The global recognition of CFA lets professionals work outside their country increasing its scope as well. 
• The CFA syllabus covers core concepts, especially finance-centric theory and practical concepts applicable to real-world situations. 

CA Course Benefits

• CA professionals are highly skilled in accounting.
• CA is the oldest and most recognized among Indian firms.
• You can also practice on your own or become a consultant.
• Being a conventional certification option, it is a reliable and secure career option.

CA vs CFA Which Is Better?

In the realm of commerce, it is easy to choose between good and bad, but selecting between two of the good options CFA or CA is extremely difficult. CFA professionals are adept in asset management, equity research, and investment advisory roles. They possess analytical skills, investment strategies, and financial modeling skills to fit these roles in finance, investment banking, and portfolio management companies.

Whereas the latter certification equips professionals with the technical knowledge and practical training required to succeed in accounting and consulting. It is suitable for those passionate about accounting, auditing, taxation, and compliance. They are in demand across Indian industries for roles in corporate finance, taxation, audit firms (especially the Big 4), and regulatory compliance. 

Therefore, the choice of Chartered Financial Analyst vs Chartered Accountant is tough and you must think carefully and also take suggestions from your relevant sources. Then, wisely choose CFA or CA based on your skill set, and the industry you wish to specialize in. Both chartered accountant vs CFA certifications offer valuable opportunities, but the best fit depends on your long-term career goals.

Conclusion

Choosing between CFA and CA depends entirely on your career aspirations and interests. If you are inclined towards investment management, financial analysis, and global opportunities, CFA may be the better fit. It offers worldwide recognition and roles in sectors like investment banking and portfolio management. On the other hand, if your passion lies in accounting, auditing, taxation, or consultancy, and you prefer a more traditional and secure career within India, CA is a better choice. Ultimately, both are prestigious qualifications that open the door to rewarding careers, so your decision should align with your long-term professional goals and interests considering the difference between CFA and CA.

FAQ’s