How far CFA designation can take you in India
Finance is an ocean where professionals of all stripes of credentials swim. For a long time, MBA was the only hope and one-stop choice designation for finance professionals in India to get into global companies that promised a better career edge and deserving salary packages. But that veneration is slowly losing its sizzle with the rise of new professional and global certifications like CFA. Chartered Financial Analyst (CFA) charter as a global credential is different in many respects, unlike other competing degrees.
Let’s look at the CFA syllabus for a start. The intensive and upcoming curriculum gave finance grads a fresh outlook on the working of finance, particularly for students who aspired to build careers in investment fields. The focused and futuristic investment tools and techniques introduced by the complex and rigorous CFA syllabus placed a premium on the designation as it was widely demanded in top finance corporates and institutions. The Global Recession of 2008 became one of the turning points that placed the importance of finance, investment, and risk professionals to a large extent.
People, students, or professionals holding a CFA charter can work as portfolio managers, investment advisors, equity research analysts, chief executive officers, and consultants. The powerful charter also helps you climb the career ladder fast in a competitive corporate world. But to obtain a grueling 3-year CFA charter needs intense planning and preparation as the pass rate still stays at 43%. Understanding the need of the growing scope of CFA certification in India, many learning providers have launched the best and original study package (Schweser-Miles Original CFA Study Package) designed in consultation with industry experts and professionals to help students gear cutting-edge expertise in investment management and other allied fields.
CFA has no regulatory requirements unlike for legal or banking positions. According to the Wall Street India report, India is one of the 3rd largest markets in the past 7 years to witness registration for CFA growing 30% year after year. Over 2.3% of the Indian population has invested in capital markets (NSE) that would gradually widen the scope for investment and savings. To meet this spurring demand, the investment market would need skilled and expert professionals.
We know banking is one of the highest paying sectors for finance professionals. But the emergence of CFA promised graduates to even earn a rewarding package while they are still studying for the CFA course. The fees, when compared to MBA, are less and the CFA classes are not conducted as it happens with regular university degrees. The flexibility and affordability are one of the stellar features that flooded enrollments in the best CFA institutes in India.
As CFA is a three-level course, professionals start to earn INR 3-4 LPA, for a Level 2 professional it can range to 6 LPA and for a level 3 CFA holder, the salary can range beyond 10 LPA. The scope for CFA is huge as research states that in every corporate nearly 6% of positions are filled by CFAs. This also means that the designation also opens up diverse and top-end career opportunities in every asset management sector and investment field, so pick one that suits you!
