CA vs CFA: Which is Better? Everything You Need to Know (2024)

After having tough decisions of selecting and passing the desired stream in 12th, once again, there is a difficult situation. Students interested in the corporate sector need to choose their career between CA vs CFA, and the question is which one is better?

In terms of salary comparison in BAT course, CA freshers get higher packages than CFA. However, a CFA course needs less time to complete than a CA course. CFA (Chartered Financial Analyst) and CA (Chartered Accountant) are both trending in the corporate and finance sector, especially in India. As one of the fastest-growing economies, India needs many CA and CFA nearly in every industry.

Let’s analyze the difference between two CA vs CFA for your better career choice. But let’s first look at them independently to have a comparison between CFA or CA and decide which is better for you.

Chartered Accountant (CA) Course

The Chartered Accountant is an accounting profession that is regulated by the ICAI. With handsome salary packages, CA is very popular among new generations of youngsters. For its preparation, VSI Jaipur is one of the best CA institutes in India that has provided many AIRs in the past. A Chartered Accountant can work in a wide variety of fields related to corporate sectors, such as the following:

• General Management
• Taxation
• Auditing( Internal, Forensic,Tax)
• Business Management
• Treasury function Management
• Finance Controller

Even in the CA vs CFA salary difference, CA is a winner. It is recommended for CA students that it is better to have a practising experience with the senior chartered accountants before getting a job. They can have practice with an architect professional/ actuary professional/ company secretary etc.

Prepare for CA with the best institute in India, VSI Jaipur

VSI Jaipur (Vidya Sagar Institute) is indulging in CA coaching as one of the best institutes in India and the best in Jaipur with having the most number of achievers every year. VSI guarantees success with the values for which thousands of parents and guardians trust it. With an online studying facility by the top experienced faculty of India, your career is secured in responsible hands at reasonable and affordable fees.

Requirements for a CA Course

Now a question arises, for having vast job opportunities in CA, you must clear the exams that are regulated by ICAI every year. What are the basic requirements as guided by the ICAI, which the interested students must fulfil for appearing in CA exams? Let’s have a look at it.

• Students can apply for CA Foundation exams after clearing their 12th with minimum threshold marks (guided by ICAI). However, you have the opportunity to directly enroll for the CA Intermediate course after graduating with the minimum marks required. In this case, students need not appear for the CA Foundation exams.
• The CA Intermediate course is further categorized into two stages. It will be cleared by clearing the Intermediate exams or 1st group and then having practical training of 3 years in a Chartered firm.
• In the 3rd year of the training session, students have a chance to work in the industry before appearing for the CA finals.
• Candidates must also go for a soft skill development orientation program along with the completion of 100 hrs of IT training.

Chartered Finance Analyst (CFA) Course

Chartered Finance Analysts is an accounting profession having an internationally recognized central institution, i.e., the CFA institute of America, also known as AIMR. With CFA qualifications, one is ready to be opted by National or Multinational Companies. CFA is one of the most challenging courses in India, having a wide variety of difficult topics. It is less popular than CA among Indian students interested in corporate sectors due to fewer job opportunities. Especially emphasized in pure finance-related fields, it requires a much clear and applied tendency to concepts rather than just mugging up the theory. A CFA has job opportunities in the following sectors ;

• Research Analyst
• Relationship Manager
• Portfolio Manager
• Credit Analyst
• Auditor
• Risk Analyst

CFA is popular among new generations but at a lower rate than that of CA, mainly due to the lagging of CA vs CFA salary.

However, it has been seen that from the last 15 years, there has been a tremendous increment in CFAs in India with about 25%. Since it is a globally recognized course hence most of the MNC’s are looking for CFA.

CFA Course Requirements

• CFA demands four years of education along with the practical experience of relevant work recognized by the CFA institute before the final exams.
• The CFA syllabus, as guided by the CFA institute, must be prepared accordingly.
• Another requirement for having CFA exams is that the candidate must be a member of the CFA institute along with a member of the local CFA governing body.
• Students are recommended to be disciplined and learn ethics and the professional conduct standard to be part of the global institute of CFA.

CA vs CFA: Which is Better?

There is always a confusion among students while choosing their career in the corporate world between CA vs CFA. Each has its own features and job opportunities. However, the final decision always depends upon your situation and qualifications to go with a better choice.

Factors	CA Course	CFA Course
Certified By	CA is certified by ICAI as an Indian authorized institution to regulate the CA activities.	CFA is a globally recognized institute and certified by the AIMR. It handles all activities regarding CFA.
Stages	CA has 3 levels but with a 5 years of study span(if exams are cleared in the first attempt).	CFA is just 3 years of course with stages 1, 2, 3, each having one year of course.
Span of Exam	The span of CA exams is also 3 hours for each and every subject in each year.	There are 3 hours morning and afternoon sessions for each level of CFA
Eligibility	Completed 12th with a minimum percentage.	Graduated with a minimum percentage.
Emphasized Subjects	It mostly focuses on business and environment concepts, financial accounting, reporting, etc.	CFA has a syllabus emphasizing ethics, portfolio management, finance-related topics, derivatives, etc.
Average Income (Freshers)	6-8 Lakhs	4 Lakhs
Title Offered	With CA, you can have the title of General Management, Internal Auditing, taxation, etc.	It offers you with the title of Research Analyst, Credit Analyst, Portfolio Management, etc.

 

CA and CFA Together

There are many students who are doing CA and CFA together. The main reason for that is it provides more job opportunities and better salary. By doing both the courses together, you’ll have the edge over other students. However, it should be done only when you are confident that you manage both the studies properly.

Conclusion

With the above comparison between CA vs CFA, we conclude that CA is a better course to opt for rather than that of CFA. CA gives you better job opportunities in India with nearly every sector with a tremendous amount of flexibility as auditor, budget management, etc. Also in all the industries whether it is in private sectors or in government jobs. With having good initial packages of salary that ensure the increment with experience, it is widely trending among Indian youngsters.

Recommended Reads:-

• Top 10 Business Accounting and Taxation (BAT) Courses Online
  
• Top 10 Business Accounting And Taxation (BAT) Courses In Delhi
• Top Accounting Interview Questions with Answers
• Top 10 Business Accounting and Taxation (BAT) Courses in Mumbai
• Top 10 Business Accounting And Taxation Course in Bangalore
• Top 10 Business Accounting and Taxation (BAT) Courses in Chennai

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FAQ’s

Q.1 Are CFA exams hard to clear?

Ans. Yes, in CA vs CFA comparison, CFA includes comparatively complex topics to cover. Therefore, it is difficult to clear the CFA exams. However, students should not compare them as CA is related to auditing and CFA is related to finance. It also depends upon students; some are interested in accounts and some in finance.

Q2. I am enrolled in a CA, can I opt for the CFA course?

Ans. Yes, CA students can enroll for CFA course.

Q3. Which profession has better salary packages?

Ans. Based on the packages given to freshers, it can be said that a CA has a better salary package than a CFA.