CFA vs. CA: Which is a Better Finance Course? How do I choose?

Most commerce students get confused when choosing between two excellent career options: becoming a CFA or a CA. The choice becomes more difficult since becoming a chartered accountant (CA) or chartered financial analyst (CFA) offers lucrative job prospects, added benefits, and fulfilling positions in the corporate sector. To help you make the right career choice, we have crafted this post around CFA vs. CA. 

Here is the point-wise comparison of the two courses based on their eligibility, potential career paths, and scope. 

Let’s begin!

CFA (Chartered Financial Analyst): The Course Overview 

The reputed CFA certification in finance provides candidates with an in-depth understanding of investment and money management. It is a worldwide-renowned exam that the CFA Institute offers. CFA is a quite popular career choice in India and across the world because of its excellent career scope and earning potential. 

CA (Chartered Accountant): The Course Overview

The prestigious study of chartered accounting provides students with knowledge of general management, taxation, auditing, and accounting. It is a great career option in India and is run by the Institute of Chartered Accountants of India (ICAI). Chartered accountants are permitted to audit financial statements and can find work opportunities in a variety of industries.

CA vs. CFA: Let’s Find the Key Difference 

CFA vs. CA: Career Opportunities:

In finance, the positions of chartered accountant (CA) and chartered financial analyst (CFA) lead to distinct jobs and industries. 

If you choose CA certification for your career, you can work as an auditor, tax advisor, or financial consultant as a chartered accountant. Banks, corporate finance departments, and taxation firms would all be interested in hiring you.

With the CFA certification, you can get positions in investment banks, asset management firms, and mutual fund companies as an investment banker, portfolio manager, or research analyst, among other positions.

CA vs. CFA: Salary 

The industry, the particular function, the amount of experience, and the region can all have a big impact on the salary of CAs and CFAs. Both credentials, meanwhile, have the potential to lead to rewarding job paths. 

The average salary of a CA is PKR 2,181,552 per year, while the average salary of a CFA is PKR 110,275 per year. 

This is an average number. Chartered accountants can often earn substantial salaries, particularly for positions requiring in-depth expertise in auditing and taxation. And a CFA can command a high salary, especially in investment banking and portfolio management.

 CA vs. CFA: Course Fee

For many students, the entire fee of obtaining a CFA or CA certification can be the primary factor. These expenses may differ as per different circumstances, including the number of attempts, extra preparatory supplies, and living costs.

The total cost of CA can be between PKR 150,000 and 180,000. Besides, coaching fees are an additional expense that may vary based on the coaching institute’s reputation and the learning method. 

For the CFA course, the total cost is around PKR 600,000 from foundation to final. Besides, there are several things, like mock tests and study materials, that can increase the cost. 

Sum Up…

This was about CA vs. CFA. Both courses have amazing career options and a wide range of prospects. You need to make a smart, well-informed career decision. If you are interested in auditing and taxation, choose a CFA course; if you are interested in investment banking and portfolio management, choose a CA course. 

In conclusion, it is advised that candidates who wish to pursue it consider enrolling at an esteemed institution like Mirchawala’s Hub of Accountancy, where they can have a professional guide. 

Frequently Asked Questions 

Q1: Can CFA and CA be done together?

Ans: Yes, you can do CFA and CA both. But it is challenging because both require an articleship period.

Q2: CA or CFA: Which is better for investment banking?

Ans: The CFA course places a strong emphasis on investment and wealth management; therefore, when it comes to investing, it always leads the way.

Q3: Can a CA student opt for CFA?

Ans: Yes. Those who are pursuing a CA can choose a CFA. 

Q4: What are CA and CFA’s primary areas of focus?

Ans: The primary areas of focus for CAs are finance, accounting, and taxation. Conversely, CFA places more emphasis on core finance and is entirely formula-based rather than learning-based.

Q5: Is it worth doing CFA after CA?

Ans: Absolutely. Taking a CFA course after a CA course is worthwhile. It wouldn’t be that hard to pass the CFA first level if you became a CA. The themes of CA and CFA are both connected to finance. To pursue a job in investment finance, many CA candidates enroll in CFA courses. An applicant who has completed both the CFA and CA programs. get knowledge and global recognition.