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CFA Full Form: Admissions 2024, Course Details, Duration, Entrance Exam, Salary, Job Prospects
Edited By Sansar Singh Chhikara | Updated on Sep 03, 2024 12:27 PM IST | #CFA Exam
CFA Full Form in Commerce - The full form of CFA is Chartered Financial Analyst. CFA or Chartered Financial Analyst is a professional designation given to individuals who successfully complete all three levels of the CFA exam. The CFA course has three levels, which are CFA Level 1, CFA Level 2, and CFA Level 3. The CFA institute specifies different eligibility criteria for CFA at different levels. These requirements pertain to the educational qualification and work experience required of the candidates in order to appear for the exams. The CFA course duration is generally 1.5 years to 4 years. The CFA course is focused on covering major aspects of the investment industry like equity, fixed Income, derivatives, real estate, and so on. Students are drawn towards this course to get better job prospects in top investment firms. In this article, get to know CFA full course details including eligibility criteria, curriculum and more.
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Also Check: CFA Level 1, 2 & 3 Registration Open - Apply Now
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CFA Entrance Examination - Overview
If one is aspiring to take up the CFA course, one should definitely know more than just the CFA course full form. Candidates should be aware of all the details related to the CFA program. Given below in the table are the important highlights of the CFA programme.
Chartered Financial Analyst Programme Highlights
CFA Full form | Chartered Financial Analyst |
Duration of the program | 1.5- 4 years |
Exam Frequency | Level 1 - Four times a year (February, May, August, November) |
Level 2 - Three times a year (May, August, November) | |
Level 3 - Two times a year (February and August) | |
Conducting Body | CFA Institute |
Eligibility Criteria | Graduation in relevant discipline or 4 years of work experience |
Admission Process | CFA Entrance test- Level 1, Level 2 and Level 3 |
Mode of examination | Online |
Average Fee | INR 2,00 000 |
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What is a CFA Course?
The CFA full form is Chartered Financial Analyst or CFA program. It is a three level course designed by the Chartered Financial Institute. The CFA program is aimed at enhancing the profession of global financial management and investment management by producing qualified professionals. The programme also aims at inculcating global practise standards among the students. The CFA program has been divided into 3 levels and each level of Chartered Financial Analyst program has its own focus and relevance.
Important - Check the Complete List of Full Forms
CFA Course Eligibility
Candidates must fulfill the CFA eligibility requirements in order to appear for the CFA exam. The eligibility requirements are different for each level. CFA aspirants are required to meet one of the following enrolment requirements as given in the table below.
CFA Eligibility Requirements
| Particulars | Details |
| Bachelors' Degree | Graduation in any stream. |
| Undergraduate student |
|
| Professional work experience | 4,000 hours of qualified, professional work experience |
| Combination of work experience and education | Work experience and education is accrued over a duration of 36 months. Both must me sequential and must not overlap. |
In addition to the above, candidates are also required to meet the requirements relating to professional conduct. At the time of submitting their applications, candidates are required to sign Professional Conduct and Candidate Responsibility statements.
For complete details-
Who should pursue a CFA program?
One should opt for a particular course based on one's interests, skill sets and end goals. CFA course is aimed at producing skilled finance professionals in the field of investment analysis and portfolio management. Some categories of students or professionals who can take up the CFA program are given below:
Fresh Graduates: Candidates who have just passed their graduation and are looking for a career in investment finance segment can choose CFA program. Completing all CFA levels would mean that the candidate is well equipped with all the world class knowledge related to the field.
Investment Industry Professionals: Professionals working in the investment industry can also pursue CFA programmes to enhance their career prospects. The programme would significantly improve their understanding of the financial world. The CFA certificate would be recognition of their sills and a great addition to the resume.
Relevance of CFA Programme
Before starting an academic journey, students must be clear about the goals they want to achieve after completing a particular degree/course etc. There can be many advantages of completing the CFA programme and some of the major ones are given below:
Large Number of Job Opportunities: A Chartered Financial Analyst has great job opportunities waiting after the completion of the program. A number of sectors like Accounting, Auditing, Taxation, Financial Services and many more as a Chartered Accountant, Financial Advisor etc have jobs roles designed specially for CFAs.
Bigger Pay Cheque: Another great benefit that Chartered Financial Analysts get is that they can get good salary packages. The average salary will be around INR 4 Lakhs- 40 Lakhs per annum on completion of CFA course
Prestige and Status: Having a CFA title with one's name is a matter of great prestige in the society. CFAs are held in high regard due to their financial knowledge and reputation of the CFA course.
CFA Program Curriculum
The CFA programme curriculum consists of 10 subject areas. Each of these subjects has a different weight in different levels of CFA. The two tables given below describe the subject areas and also the weightage given to them. Some areas such as quantitative methods, financial reporting and analysis and corporate finance have 0% weight and are not included in the CFA syllabus for Level 3.
CFA Syllabus Subjects and Topics
CFA Subjects | Topics | Aim of Study |
Ethical and Professional Standards |
|
|
Financial Statement Analysis |
|
|
Equity Investments |
|
|
Fixed Income |
|
|
Corporate Issuers/ Finance |
|
|
Quantitative Methods |
| Exploring about quantitative concepts and techniques used in financial analysis; investment decision making |
Economics |
|
|
Portfolio Management and Wealth Planning |
| Learn about the fundamentals of risk and portfolio management |
Derivatives |
|
|
Alternative Investments |
| Know about edge funds, commodities, private equity, real estate, and infrastructure |
CFA Subjects and Weights
Topic Area | Level I | Level II | Level III |
Ethical And Professional Standards | 15% | 10-15% | 10-15% |
Quantitative Methods | 10% | 5-10% | 0 |
Economics | 10% | 5-10% | 5-10% |
Financial Reporting And Analysis | 15% | 10-15% | 0 |
Corporate Finance | 10% | 5-10% | 0 |
Equity Investments | 11% | 10-15% | 10-15% |
Fixed Income | 11% | 10-15% | 15- 20% |
Derivatives | 6% | 5-10% | 5-10% |
Alternative Investments | 6% | 5-10% | 5-10% |
Portfolio Management | 6% | 5-15% | 35 -40% |
Total | 100% | 100% | 100% |
CFA Exam Pattern
Each of the three levels of CFA follows a different pattern. Given below in the table is the detailed exam pattern of the CFA exams.
CFA Exam Pattern - All Levels
Exam | |||
Morning Session | 90 Questions | 88 Qs in 10 Case studies | Item sets comprised of vignettes with accompanying multiple-choice items and constructed response (essay) questions. |
Afternoon Session | 90 Questions | 88 Qs in 10 Case studies | |
Duration | 2 hours, 15 minutes each session | 2 hours and 12 minutes each session | 2 hours and 12 minutes each session |
Question type | Multiple choice questions | Vignette-supported multiple-choice questions | Vignette-supported-
|
Exam Months |
|
|
|
CFA Courses Fees
In order to register for the CFA exam, candidates have to pay different types of fees such as one time enrolment fee during CFA Level 1. They also have to pay the registration fee which is available at a discount in case of early registration. Then there is an exam rescheduling fee if the candidate want to reschedule the test. At present the CFA fee structure is as per the particulars given in the table below.
CFA Course Fees
Particulars | Fees |
CFA enrollment fee | USD 350 |
Early registration fee | USD 940 |
Standard registration fee | USD 1250 |
| Rescheduling fee | USD 250 |
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CFA Career Prospects
CFA is becoming one of the most rewarding career choices for finance professionals in India and around the world. The CFA designation is valued by employers for different types of roles and functions in the global sector of finance. Below are the typical jobs available for CFA chartholders.
Portfolio Management: The job of a portfolio manager is to make investment decisions. Portfolio managers devise and implement investment processes and strategies to meet the requirements and goals of the clients. According to the 2019 CFA Institute Compensation Study, portfolio managers enjoy a global total compensation of US$177,000 with US$126,000 as a base salary.
Research Analysts: In the investment industry, there are two types of research roles - credit analysts and equity analysts. The role of both these types of analysts is to collect data about investable companies. Credit analysts' role centers around analyzing bonds and default risks. On the other hand, equity analysts analyze the performance of companies. According to the 2019 CFA Institute Compensation Study, research analysts have reported a global total compensation of US$140,000 with US$100,000 as base salary.
Investment Consultant: The role of investment consultants is to advise their clients on which funds, asset classes, and countries to invest in. Their clients may include asset owners, fund managers, and trustees. In the 2019 CFA Institute Compensation Study, investment consultants reported a global total compensation of US$131,000 with US$106,000 as base annual salary.
Risk Analysts and Risk Managers: Companies hire risk analysts and managers to minimize the likelihood of negative impacts from a variety of factors. These factors may include operational risks like unethical human behavior, natural disasters, financial risks like credit and interest rate risks etc. According to the 2019 CFA Institute Compensation Study, risk analysts and managers reported a global total compensation of US$129,000 with US$105,000 as base salary.
CFA Top Recruiters in India
Here is the list of top recruiters for different CFA levels qualified candidates:
India's top Recruiters for CFA’s
Recruiters | Salary Package (lakh per annum) |
The Goldman Sachs Group | Rs. 3,00,000 – 25,00,000 |
Morgan Stanley | Rs. 4,00,000 – 30,00,000 |
J.P Morgan | Rs. 5,00,000 – 40,00,000 |
Citigroup | Rs. 4,00,000 – 30,00,000 |
Credit Suisse | Rs. 10,00,000 – 40,00,000 |
HSBC | Rs. 3,00,000 – 25,00,000 |
Crisil | Rs. 4,00,000 – 25,00,000 |
Deloitte | Rs. 6,00,000 - 30,00,000 |
EY | Rs. 6,00,000 - 35,00,000 |
Bajaj Finance | Rs. 4,00,000 – 12,00,000 |
PWC | Rs. 5,00,000 – 20,00,000 |
KPMG | Rs. 4,00,000 – 20,00,000 |
SBI | Rs. 5,00,000 - 15,00,000 |
Standard Chartered Bank | Rs. 8,00,000 – 40,00,000 |
HDFC Bank | Rs. 5,00,000 – 25,00,000 |
CFA Salary in India
CFA is known to provide good salary packages to its professionals. In recent years, CFA course has emerged as one of the best courses in therms of placements. The average salary of different job profiles for CFA professionals has been given below:
CFA Average Salary Figures for different Job Profiles
Job Role | CFA Salary in India |
Chartered Financial Analyst | Rs. 6,50,000 |
Senior Financial Analyst | Rs. 9,00,000 |
Credit Analyst | Rs. 6,30,000 |
Financial Analyst | Rs. 6,00,000 |
Associate in investment banking | Rs. 14,00,000 |
Finance Manager | Rs. 10,00,000 |
Equity Research Associate | Rs. 7,50,000 |
Investment banker | Rs. 15,00,000 |
Portfolio Manager | Rs. 18,00,000 |
Senior Business Analyst | Rs. 12,00,000 |
Equity Analyst | Rs. 5,00,000 |
Senior Analyst, Finance | Rs. 18,00,000 |
Vice President in Finance | Rs. 30,00,000 |
Frequently Asked Questions (FAQs)
1. Is CFA higher than CA?
CFA is considered comparitively easier than CA because of its higher pass percentage.
2. Is CFA better than MBA?
CFA curriculum revolves around finance and investment management. On the other hand, MBA course offers specialisations in different areas such as finance, marketing, HR, operations etc. So, it depends upon the personal preference and learning needs of the candidate.
3. What is CFA qualification?
The CFA course is a three level programme and a designation given to persons who have completed the three levels by the CFA Institute. The course trains professionals in the field of finance and investment management. Every year thousands of candidates appear for the three levels of the Chartered Financial Analyst course.
4. Where can I find the study material of CFA exams?
The Institute uploads the study material for CFA exams, level wise on the official website. The CFA study material is downloadable in pdf format.
5. What is CFA in salary?
CFA could be a rewarding career as investment management professionals are in good demand worldwide.
6. What is CFA course duration after graduation
Taking into consideration the preparation time and work experience requirement , it will take around 3-5 years to complete the CFA course.
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