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Chartered Financial Analyst

Who is a Chartered Financial Analyst (CFA)?

A Chartered Financial Analyst is also known as the financial manager is a person who is certified by the CFA Institute with the designation of a Chartered Financial Analyst.

What does a Chartered Financial Analyst do?

Chartered Financial Analyst is responsible for identifying the right clients or companies where their company can invest as well as identifying companies bad for investments. They also make important decisions regarding companies, industries and stock for profitable ventures of their company.

What are the skills required?

The role of a Chartered Financial Analyst requires one to be excellent in finance and decision-making skills. As a CFA you will be analyzing financial data and also working on excel and other software, so having a strong background in computers is necessary. The skills of a Chartered Financial Analyst are:

  • Analytical Skills

  • Communication Skills

  • Accountancy In-depth Knowledge

  • Decision Making Skills

  • Leadership Skills

  • Eye for details

  • Sound knowledge of mathematics

A Chartered Financial Analyst (CFA) is one of the most lucrative careers for those who have an interest in Chartered Accountancy and wants international exposure.

How to become a CFA in India?

Eligibility

  • Bachelor’s (or equivalent)/ final year of bachelors at the time of registration, or 4 years of work experience/ a combination of work or college experience that totals 4 years

  • Meet the professional admission criteria

  • Understands English

  • Holds  international travel passport

Top colleges offering courses on Chartered Financial Analyst

Chartered Financial Analyst is one of the most popular courses among the various fields of Chartered Accountancy. The course is covered in three different levels and takes a minimum of 1.5 years/18months to graduate.

After the successful completion of all three levels, the students shall be awarded the certificate of Chartered Financial Analyst. To apply for the Chartered Financial Analyst course the candidate needs to have a bachelor's degree in Commerce.

The top colleges offering a CFA course are as follows:

  • Indian Institute of Business Management and Studies, Mumbai

  • Chartered Financial Analyst Institute, Mumbai

  • Central India Institute of Management Studies, Nagpur

  • FTMS Global Academy India Private Limited, Chennai

  • Institute of Chartered Financial Analysts of India, Hyderabad

Candidates need to have an international passport to avail chartered financial Analyst course as the designation is accepted worldwide. The course of CFA is globally recognized as a graduate-level program that provides the candidate with knowledge of investment and finance to manage practical industries.

Career Scope for Chartered Financial Analyst in India

A Chartered Financial Analyst is a great career option for those who are aspiring to become investment professionals. A career in CFA is most suitable for students who are interested in financial planning, finance, etc.

A certified CFA is recognized all over the globe and has the option of working in India or abroad. So, if you hold a bachelor's in commerce then you can opt for CFA. A Chartered Financial Analyst is usually recruited for the following positions:

  • Financial Analyst: A financial analyst is responsible for macroeconomic and microeconomic conditions, collects important financial information to make profitable investment recommendations to the company.

  • Research Analyst: A research analyst is responsible for examining and figuring out principals and theories for the use of the financial institution.

  • Credit Analyst: A Credit Analyst works in mostly investment or commercial bank and his major responsibility is to assess credit application of a loan applicant.

  • Finance Manager: A Finance Manager is responsible for investment reports, investment activities and plans and strategies for long term financial strength.

How much does a Chartered Financial Analyst make in India?

  • An entry-level Chartered Financial Analyst with less than a year of experience earns an average of Rs 610,419/yr.

  • An early career CFA with 1-4 years of experience earns an average of Rs 627,533/yr. 

  • A Chartered financial accountant with 5-9 years of experience earns an average of Rs 850,000/yr. 

  • The average salary of Chartered Financial Analyst (CFA) in India is Rs 665,628/yr

Source: Payscale

What are the books and study materials available?

While preparing for the CFA exam, you will need to have a strong base in maths and accountancy, also the following books will help you to score great marks in the exam:

  • The Official CFA Curriculum

  • Wiley CFA Level 1 Books

  • CFA Level 2 Kaplan

  • Kaplan Schweser Level 1 Book

Major Recruiters

Career Financial Analysts are globally recruited in big organizations as the degree is relevant all over the world. The major recruiters of CFAs are:

  • JP Morgan Chase and Co

  • HSBC

  • Kotak Mahindra

  • Goldman Sachs

  • Credit Suisse

  • SherKhan

Interesting Facts 

On average it takes more than 308 hours to study for each level and it takes 45 hours more to study for level 3 than for level 1.