How To Become A Chartered Financial Analyst? Detailed Guide

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When you started to think about your career options, did you think of finance?

If you did and felt that finance has typical jobs and started looking at other careers, let us stop you right there.

There is one finance job that stands out from the lot! Yes, you got that right. Chartered Financial Analyst is an excellent opportunity that you can explore if finance excites you.  

Let us help you understand everything you need to know about a Chartered Financial Analyst (CFA), how to become a Chartered Financial Analyst, the educational requirements, and a lot more. Read on!

Who Is A Chartered Financial Analyst?

A Chartered Financial Analyst (CFA) is an individual who uses their knowledge and abilities in a variety of roles across the global finance sector.

They stand out as investment management experts because of their dedication to upholding a higher degree of excellence. CFAs are awarded the professional certification of Chartered Financial Analysts.

Relationship management and data science, credit analysis, chief investment officer, trading, accounting and auditing, financial planning, and sales and trading are all tasks they carry out. This certification is recognized internationally and is provided by the CFA Institute, formerly known as the Association for Investment Management and Research (AIMR). 

Learn more: How To Become An Investment Banker

How To Become A Chartered Financial Analyst?

Step 1: Stream Selection

It is best to opt for Commerce. Many CFA aspirants who belong to either Science or Arts have found it difficult to gain working experience. Commerce will also teach you the basics of accounting and finance. Hence, it is the best field you can choose. 

Step 2: Educational Qualifications

How To Become A Chartered Financial Analyst After 10th

While you are studying in the 11th and 12th grade, firstly make sure you opt for the Commerce field. Sign up for courses and grab any opportunities that come your way to gain as much knowledge as you can about Accounting and Finance. This will definitely come in handy when you start preparing for your CFA exams. 

How To Become A Chartered Financial Analyst After 12th

After 12th you can pursue your 3-year undergraduate degree and take the CFA Exam either after you complete your graduation or during your final year. You can also give the exam if you have a combination of work/college experience that totals four years.

Undergraduate Courses to become a CFA In India

Courses Duration
BBA (Bachelor of Business Administration) Finance3 years
Bachelor in Business Economics 3 years 
Bachelors in Finance and Accounting3 years
B.Com 3 years
Bachelor of Accountancy3 years

Top Colleges For CFA in India

  1. Indian Institute of Business Management and Studies, Bombay
  2. Mansukh Institute of Financial Markets, Delhi
  3. Charted Financial Analyst Institute, Mumbai
  4. CIIMS, Raipur
  5. FTMS Global Academy, Chennai

Undergraduate Courses to become CFA Abroad

The eligibility to appear for the CFA Exam is to have a bachelor’s degree. It is ideal if you opt for an undergraduate degree related to finance, accounting, or business since these will prove to be beneficial skills for your career as a Chartered Financial Analyst. 

Top Colleges For CFA abroad

  1. University of Toronto, Canada
  2. University of Melbourne, Australia
  3. University of Arizona, USA
  4. University of New South Wales, Australia
  5. University of British Columbia, Canada
  6. Schulich School of Business, Canada
  7. Anderson University, USA
  8. Queensland University of Technology, Australia
  9. Aston University, UK
  10. Coventry University, UK

Know more about: How to become an IFS Officer

Step 3: Certificate and Project Courses

If you want to know how to become a Chartered Financial Analyst, take a look at the CFA Course details.

CFA Course Details

Course Name Chartered Financial Analyst
Exam ModeOnline
Course FeesRs. 50,000- 1,50,000
EligibilityBachelor’s degree
Course Levels3 Levels
Duration of Course2-3  years

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CFA Course Subjects:

  1. Alternative Investments
  2. Derivatives 
  3. Portfolio Management and Wealth Planning 
  4. Corporate Finance 
  5. Economics 
  6. Quantitative Methods 
  7. Equity Investments 
  8. Fixed Income 
  9. Financial Statement Analysis
  10. Ethical and Professional Standards

If you are keen on learning about these topics, want hands-on exposure, and want to know more about how to become a Chartered Financial Analyst, check out the Clever Harvey Junior MBA-Finance course.

Step 4: Job Preparation

You require 4,000 hours of relevant work experience accrued over a minimum of 36 months before, during, or after participation in the CFA Program in order to become a CFA charter holder.

If you are keen on learning about these topics, want hands-on exposure, and want to know more about how to become a Chartered Financial Analyst,  check out the Clever Harvey Junior MBA-Entrepreneurship course.

Skills Required To Become A Chartered Financial Analyst

  1. Financial analysis and modelling
  2. Attention to detail
  3. Decision-making
  4. Self-discipline
  5. Communication
  6. Time management
  7. Technical skills
  8. Integrity

Read this: How to become a Commercial R&D Officer

How Much Do Chartered Financial Analysts Earn In India?

With less than one year of experience, a Chartered Financial Analyst (CFA) entry-level worker can anticipate making, on average, ₹606,083 (tips, bonus, and overtime pay included). 

How Much Do Chartered Financial Analysts Earn Abroad?

CountrySalary
USA$126,000
UK£46740
CanadaC$75000
New ZealandNZ$88,437
AustraliaAU$109,110

Top Recruiters For CFA In India

Top recruiters in India

TATA company
Aditya Sun Life
SBI Bank
Reliance Industries
Bharti Airtel
ICICI Bank
Hindustan Unilever Ltd
ITC
HSBC
Top Recruiters In India
  1. TATA company
  2. Aditya Sun Life
  3. SBI Bank
  4. Reliance Industries
  5. Bharti Airtel
  6. ICICI Bank
  7. Hindustan Unilever Ltd
  8. ITC
  9. HSBC

Top Recruiters For CFA Abroad

Top recruiters Abroad

Deloitte
Accenture
JP Morgan and Co
The Goldman Sachs Group Inc.
Crisil
Credit Suisse
Top recruiters Abroad
  1. Deloitte
  2. Accenture
  3. JP Morgan and Co
  4. The Goldman Sachs Group Inc.
  5. Crisil
  6. Credit Suisse 

That’s all you need to know about how to become a Chartered Financial Analyst and everything you will need to know right from the skills to the different job opportunities you can get as a CFA. We hope this blog was helpful to you and you found all the answers you had about being a CFA. Good luck!

Careers after 12th Commerce

FAQs about how to become a Chartered Financial Analyst

How long does it take to become a CFA?

Because there is only ONE exam date for each level each year, it takes a minimum of three years to earn the CFA. Exams are administered for all three levels on the same day and at the same time. It takes at least three years because you can’t take three 6-hour examinations at once.

Are CFA in demand?

As businesses strive for employees with more than just quantitative capabilities, the demand for CFAs in India has grown in past years. Additionally, the importance of having great communication and presentation skills is growing. The possibility for income The potential income is in the range of Rs.10 LPA.

Is the CFA exam hard?

The CFA examinations are quite challenging in general, but applicants can improve their chances of passing by devoting more than 300 hours to studying, using alternate prep resources, completing as many practice questions as they can, and developing a well-organized study schedule.

How much does a CFA earn in India?

In India, a CFA makes an average annual pay of ₹6,31,179.

Which bachelor’s degree is best for CFA?

Candidates for the CFA designation should hold a bachelor’s degree from an authorized university. There are no big restrictions. However, given how difficult the exam is, it is far preferable if you have studied fields like finance, business, or accounting in-depth.

What happens if I fail CFA Level 1?

Review the exam results and performance reports that were provided with your score if you don’t pass the CFA exam. Candidates might reconsider their line of study and sign up for a CFA prep course. You’ll need a strategic test-taking plan that takes into account the exam’s format in addition to a strategic study plan.

Is math’s compulsory for CFA?

Yes, if you want to pursue a CFA, you must be proficient in math’s. Quantitative Method is a subject that CFA offers at all three levels of the exam. This arithmetic is used for financial analysis; it is not trigonometry or geometry (Statistics).

What is the eligibility to become a CFA?

After completing 12th, you can pursue a 3-year college degree and sit for the CFA Exam either right after graduation or in your last year. If your total years of job and college experience equal four, you may also take the exam.

What are the job opportunities for a CFA?

Here are some job profiles that you can consider after clearing the CFA exam:
Business Consultant
CFO
Chartered Financial Analyst
Investment Manager
Market Research Analyst
Portfolio Manager
Private Bankers
Risk Manager

Is CFA better than CA?

Only if you want to increase your knowledge and expertise in training as an analyst in the financial or investment industries must CFA be a realistic alternative for you. On the other hand, you should think about becoming a CA if you want to improve your abilities in accounting, auditing, and taxation.

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Do you also feel that finance has mundane jobs? Well, you may be wrong. Read this blog and find out how to become a Chartered Financial Analyst.
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