CA and CFA are the 2 most fascinating and demanding professional career options within the corporate world. However, students usually ask which would be the better choice for them? Well, choosing between good and bad is simple but choosing between good and good is a difficult task, and this is when mainly students mire.
Chartered Accountancy is systematized by the ICAI (Institute of Chartered Accountants of India). The profession is well-reputed in society and enough to introduce you to a dream job and earn name and fame likewise. Chartered Accountants are the highly responsible people in any corporation whose work would be to forecast, plan, and advise the management of the foremost profitable projects and investments. As soon as CA is added to your name, you will deem an expert in various domains to mention accounting, auditing, taxation, finance, corporate laws, etc. Besides the above, CA’s are the solely authorized persons in India who can audit the Financial Statements(“FS”) of a corporation.
Without a CA signature, FS couldn’t be called as Audited FS. The CA Course is structured into three levels- CA Foundation, CA Intermediate, and CA Final together with three years of Article-ship Training which designates that CA studies are beyond bookish knowledge. With the three years of Article-ship Training within the CA curriculum, the students are made conscious of real-world challenges and become a real professional.
CFA (Chartered Financial Analyst) CFA is organized by the CFA Institute globally known course which mainly concentrates on Investment Management. Those that want to build their career in Finance should choose CFA. CFA is not limited to India only, as this can be a globally certified course, therefore the course carries much about global investment management. CFA course is additionally divided into three levels and also requires four years of labour experience, which implies that CA and CFA, both the courses are supported the sensible world challenges. However, one can go into CFA only after completing his graduation. CFA incorporates a core specialization in Finance along with completely supported concepts. Here, the examiner tests the application of concepts and formulas instead of their learning.
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BASE |
CA |
CFA |
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Focus |
CA is treated as an expert in Accounting, Taxation, Law, Audit, and Finance. |
CFA has a core focus on Finance. |
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Area |
CA is an Indian Recognised course organized by ICAI |
CFA is a globally recognized course organized by the CFA Institute. |
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Duration |
CA is divided into three levels along with 3 years of Practical Training which requires a minimum of 4.5 years after 12th. |
CFA course duration is also divided into three levels along with 4 years of practical training experience which requires a minimum of 4 years after graduation. |
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Pass Percentage |
CA is considered the toughest course throughout the world with an average passing percentage of 0.5%. It has been believed that only 5 out of 1000 entrants are able to qualify the CA Final exam. |
The passing percentage of CFA is higher as compared to CA. The avg. pass percentage seems to be 10% which means 100 students are able to qualify for this exam out of 1000 entrants into the course. |
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Demand |
Definitely, the demand for CA’s is higher because they are only authorized to audit the Financial Statements of the company. |
CFA is demanded by many national and multinational companies looking for a candidate to be an expert in finance and handle their investments. |
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Paper Pattern |
CA is a subjective paper-based pattern. Hence, forget about the luck factor. |
CFA is an MCQ based paper pattern that involves a little luck factor in getting clear this exam. |
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Exam Pattern |
Here the CA students get benefited because the papers are spread over 16 days having 1-day preparation leave in each paper. |
CFA is really difficult to prepare during exam time because here students are required to prepare all the 10 subjects in one day. |
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Salary in India |
The average package of a fresher CA ranges between 6-7 lakhs which increases depending on your work. |
The average earnings of a fresher CFA salary are estimated up to 4 Lakhs which increases with your experience and ability. |
Better Career Option- CA or CFA: CFA may be a course of 4 years with relevant work experience that’s accepted by the CFA Institute. Candidates should bear the whole CFA course syllabus and may clear a 6-hour examination. Once the CFA exams are over, students can apply for CFA membership from the institute and may register with the local CFA society. CA candidates must study for around 4.5 years and should complete 3 levels to become a comptroller. Students can enrol within the CA courses after class 12th or after their graduation. To become a CA, students must choose article ship training. CA courses have flexible job opportunities for candidates. Candidates with a CA background have high demand within the finance and manufacturing sectors. And, the candidates with the CFA background have high demand within the investment sectors. Therefore, both the courses CA and CFA are equally better for the career options for the scholars. It’s up to students which course they are going for.
– Chandni Sethia
