CA vs CFA, choose a better career option? Which is easy? What’s the difference between these two courses? These questions might be troubling you. But don’t worry, we have got the solution for all these questions.
However, if you want to pursue any of the courses between these two, then you must be interested in playing with numbers. Moreover, the Chartered Accountancy (CA) course duration is five years, and the CFA course duration is four years.
Moreover, the article is drafted by the CA wizard team with deep research. Read the article below and learn all the basic details about CA and CFA. Furthermore, the article will help in guiding you to choose the best between the two.
Now, let’s see the basic details of these courses:
What is CA?
CA stands for Chartered accountant. The CA is the person who deals with the financial statement, accounts, laws and taxes. However, according to the research, chartered accountancy is the course that is opted for by 50% of commerce students.
Furthermore, the chartered accountancy course is regulated by the Institute of Chartered Accountants of India. In addition, the chartered accounting course includes three stages – CA Foundation, CA Intermediate and CA Final. Also, the students must complete three years of Articleship training.
Moreover, to become CA in India, students must pass the CA exam, with an aggregate of 50% in each.
Career Options
There are various options for a CA. Let’s have a look at some of them:
- Internal Auditor
- Banking and Insurance
- Handling Accounts
- System Audit
- Handling the company’s legal matters
- Advisor in Direct and Indirect tax
- Handling Transfer pricing
- Auditing Financial Statement
What is CFA?
The word CFA stands for Chartered Financial Analyst. The CFA is a global degree and is in high demand everywhere all around the world, in the financial sector. Similarly, just like CA, the CFA also have three exams. Moreover, the CFA is entirely a practical course that involves internship and training.
Furthermore, the Course duration of CFA is four years if the exam is passed in a single attempt. To grow your career in the field of Finance, then you must go for CFA.
Career Options:
Similarly, like CA, CFA also has various career options:
- Data Scientist.
- Chief Investment Officer.
- Investment Consultant.
- Investment Strategist.
- Accountant/ Auditor.
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What is the difference between CFA and CA?
After knowing the meaning of both the courses, let’s have a look at the difference between the two:
| Basis | CA | CFA |
|---|---|---|
| Focus | A CA is considered an expert in Law, Tax, Finance and Accounts. | The main focus of the CFA is Finance. |
| Area | The CA Course is only recognized in India and regulated by ICAI. | CFA is a globally recognized course regulated by the CFA Institute. |
| Duration of the Course | The CA is divided into three stages with 3 years of Articleship training which then takes at least 5 years after the 12th. | The duration of the CFA course is also divided into three stages, with 4 years of practical experience, which takes a minimum of 4 years after graduation. |
| Pass Percentage | The passing percentage of CA is 5%. This means that out of 100 only 5 students pass the exam. | The avg. passing percentage of CFA is 10%. This means that out of 100 only ten students pass the exam. Hence, the passing percentage of CFA is more than CA. |
| Demand | The demand for CA is rapidly growing in the market. | The demand for CFA is less than a CA. However, MNCs are looking for a CFA expert nowadays. |
| Paper Pattern | CA is a subjective paper-based pattern. | CFA is an MCQ-based paper pattern |
| Salary | The average CA Salary of a fresher is 7-8 lakhs. However, the salary increases as per experience and skills. | The average salary of a CFA fresher is 4-5 lakhs. However, the CFA salary increases as per the experience and skills. |
Take Away
Moreover, in the above article, you might have to know the difference between the CA vs CFA and what is the meaning of both courses. The above article will help in guiding through which to choose between both. Both courses are the best courses for the financial field. Furthermore, Choose the best course between CA vs CFA as per your skills and abilities and work hard to earn your degree.
