CFA as a course has grown in popularity over the years, particularly in India.
For the past 7 years, the number of applicants registering for the CFA has increased by 30% year on year, and India is now the third-largest market for CFA after China and the United States.
This creates competitive rivalry among candidates, both in terms of passing the CFA exams and landing a job.
It’s safe to conclude that the number of job seekers in the field has risen, but finance organizations in India have only just begun to expand.
Comparatively, only 3% of Indians have made investments in capital markets, as opposed to over 61% in the United States as per the Gallup News.
It is hard to imagine how much wealth the Indian people will be able to accumulate if they progressively convert their money from savings and other asset classes to capital markets.
Due to this, it is straightforward to predict that talented finance specialists will be in high demand for the foreseeable future based on those data points.
If you are wondering what is the CFA salary in India and how can you avail of CFA Jobs in India, then you need to keep reading.
In this blog, we will discuss CFA jobs in India and what salary you can expect.
Let’s get going, shall we?
CFA Salary in India
We all know how well the financial sector pays; it is one of the highest-paying industries.
In the United States, the typical compensation for a banker with a reasonable amount of experience working for any large multinational corporation is above USD 200,000.
In the first three to four years of your career, your pay is comparable to that of other professions.
However, once you reach a certain threshold, it begins to climb tremendously.
In India, a CFA charter holder with 10+ years of experience gets an average of INR 25-30 Lacs per year
The best part of the CFA Program is that you can start working while studying for level 2 and level 3 because recognition begins at level 1.
Your salary increases as you progress up the corporate ladder.
In the table, the salary that a CFA Candidate earns after passing various levels of the test is listed below.
One more thing to keep in mind: if you pass the CFA Level 3 exam with no prior experience, don’t expect to immediately join a top-tier organization with a high salary.
However, passing the exam might get you interviews and possibly an average-paying job. But we assume that’s not your ultimate goal, right?
To achieve your dream job, you need to start gaining relevant experience right away, ideally from a well-known company. This experience is crucial for your career progression.
Here are the key factors that determine your salary package:
- Background & Experience: Your previous work and educational history.
- Qualifications: These will help you get interviews.
- Value Addition: The unique value you bring to the company
With that, let’s move on to the CFA Jobs in India, shall we?
CFA Jobs in India
The CFA is a highly general finance course that does not focus on any one asset class.
Every asset class is thoroughly covered by CFA in terms of its key concepts and applications.
This opens up a wide range of possibilities because it isn’t limited to stocks, bonds, real estate, or derivatives.
Jobs for CFA Level 1 in India can vary, so it is important to look into each option.
CFA opens up employment options in practically each asset class, and CFA(s) can be found throughout every industry sector.
Even though the majority of CFA candidates aspire to work as a buy-side equities analyst or in portfolio management, there are numerous additional options available, including:
- Quantitative data analyst
- Trader
- Consultant
- Alternative investments
- Real estate
- Fixed income
- Investment management
Thus, the scope following CFA is vast, and one can pursue any interest and specialize in it.
- Financial modeling
- Pitch books
- Valuations
Other skill sets required in the industry that are not covered by the CFA syllabus broaden the scope even more.
Types of Job Roles for CFA
The CFA designation opens doors to a wide array of dynamic roles within the financial industry.
From guiding strategic investment decisions in portfolio management to evaluating corporate financial health as a financial analyst, CFA charter holders play pivotal roles in shaping financial outcomes.
Each role offers unique opportunities to apply rigorous analytical skills and contribute to the success of businesses and investors alike.
Below are the various job opportunities for a CFA:
1. Business Analyst
A business analyst analyzes processes and data to improve efficiency and solve problems within a company. They work between the business team and the tech team.
Here’s what they do:
- Talk to business people
- Analyze and document requirements
- Build IT solutions
- Create, and design documents and mock-ups to clarify requirements
- Use mock-ups to design better solutions
- Plan and create test cases
- Prepare business proposals, make presentations, and interact with customers
Essential skills for a business analyst include:
- Domain business knowledge
- Technical understanding
- Strong communication skills
As a business analyst with the CFA, you could confidently earn a salary of 7-10 lakh per annum.
2. Financial Analyst
A Financial Analysts examines:
- Financial data
- Economic trends
- Industry competitors
That helps businesses make informed investment decisions.
Several types of investment firms hire financial analysts, including:
- Asset managers
- Private equity funds
- Hedge funds
- Venture capital firms
- Insurance companies
- REITs (Real Estate Investment Trusts)
- Mutual funds
- Pension funds
These firms need financial analysts to assess companies from an investment perspective.
Their tasks include:
- Conducting industry research
- Studying financial statements to identify suitable investment opportunities
- Assessing a company’s profitability, liquidity, growth trends, valuation
- Presentation
- Identifying and acquiring assets with superior ROI
As a financial analyst, you have access to data and management which allows for financial planning and refining financial models to guide the firm’s investment decisions.
In India, as a financial analyst with a CFA designation, you could earn a salary ranging from 4 to 9 lakhs per annum.
3. Credit Analyst
A credit analyst assesses the creditworthiness of individuals or businesses applying for loans or credit lines from financial institutions.
They determine whether a company can repay its loans by checking several factors:
- Company’s finances
- Revenue growth
- Cash revenue
- Cash expenditures
- Month-end cash reserves
- Loan acquisition processes
- Mortgaged assets for loans
- Loan repayment terms
Credit analysts are typically hired by credit rating agencies or brokerage firms.
With a CFA charter, you could aim for an annual salary package of 8-16 lakh rupees confidently.
4. Equity Research Analyst
An Equity research analyst studies companies and industries to give investment advice on stocks and equities based on financial data and market trends.
They create reports after checking the financial health of the companies to be invested in.
Their tasks include:
- Analyzing stocks
- Assessing market trends
- Drafting reports
- Providing recommendations
Skills needed as a Research Analyst:
- Analytical skills
- Good written and oral communication
- Staying updated on market trends
As an Equity Research Analyst in India with a CFA degree and relevant work experience, you could earn a salary of 10-20 lakhs per year.
5. Investment Banker
An Investment Banker assists in financial transactions such as:
- Mergers
- Acquisitions
- Initial public offerings (IPOs)
They do this by conducting financial analysis and preparing presentations.
Their work is to facilitate transactions in the capital market.
Skills required to ace the role:
- Forecasting skills
- Financial modelling
- Understanding of the capital market
It’s also important to understand how capital market transactions impact a company’s finances.
This is a specialized and high-paying job.
In India, you can earn a whopping 12 to 20 lakhs per annum on average.
6. Portfolio Manager
Manages investment portfolios on behalf of clients or institutions, making decisions to optimize returns while managing risk.
This is where the CFA designation becomes important.
It’s a decision-oriented role focused on performance. You reach this level after gaining enough experience in the financial field.
Salaries for these roles start at 25 lakhs per annum.
7. Consultant
This job requires you to advise teams on what to do.
They work at:
- Individual
- Institutional
- Organizational levels
So, their salary depends on the type of organization or people they work with.
On average, as a consultant, you can earn a substantial salary of 10-15 lakhs per year, in India.
All these roles require:
- Strong analytical skills
- Financial Expertise
- A deep understanding of investment principles—all of which are core competencies developed through the CFA Program.
However, it’s important to remember that holding the CFA charter will only get your foot in the door.
Ultimately, you are the one who has to walk through it to achieve success.
What does this mean?
→It means that degrees or courses do NOT guarantee you a job.
However, they do guarantee you interviews and improve your ability to negotiate better salaries.
Career paths for CFAs often lead to positions of leadership and influence in the financial world, offering opportunities for professional growth and substantial earning potential.
Top Recruitment Firms for the CFA in India
When it comes to advancing your career as a Chartered Financial Analyst (CFA) in India, knowing the top recruitment firms can significantly enhance your prospects.
These firms specialize in gauging top talent for key roles across various sectors of the financial industry.
The following are some of the top employers looking for CFAs:
- JP Morgan Chase and Co. (JPMC)
- United Bank of Scotland (UBS)
- Royal Bank of Scotland (RBS)
- HSBC
- Wells Fargo
- Citi Group
- Morgan Stanley
- HDFC, Kotak Mahindra, ICICI
- Barclays
- Bloomberg
- Carlyle Group
- Blackstone
- Goldman Sachs
- Fidelity
- Deloitte, EY, KPMG, PWC
- Standard Chartered
- Jefferies
- Bluecrest Capital
- General Atlantic
- Deutsche Bank
- Bank of America
- Merrill Lynch
- BNP Paribas
- Bajaj Finance
- Nomura
These firms are recognized for their ability to connect qualified CFAs with reputable employers, offering opportunities for professional growth in the financial sector.
Jobs for CFA Level 1 in India
To secure jobs as a CFA Level 1 candidate in India and build expertise, it’s essential to focus on several key strategies.
Once you clear level 1 or even level 2, your ability to negotiate will improve.
However, this won’t necessarily lead to a significant increase in your salary.
Your salary will increase based on the value you bring to the company.
Therefore, You need to consider:
- Network within the financial industry—attend industry events, connect with professionals, and leverage platforms like LinkedIn to open doors to opportunities.
- Gain practical experience through internships or entry-level positions in financial institutions or consulting firms, as they offer valuable exposure and skill development.
- Stay updated with industry trends and continuously expand your knowledge through ongoing education and certifications, this demonstrates commitment and multiplies your chances of getting hired.
- Prepare thoroughly for interviews.
Allow your analytical skills, financial acumen, and understanding of investment principles to lead you and help position yourself as a competent candidate in the competitive job market for CFAs in India.
Conclusion
Now to put it, if you have a CFA charter, it goes without saying that you have work experience.
Because, to get a CFA Charter, you need relevant work experience but where this work experience also matters.
Understanding the potential CFA salary in India involves considering various factors, including:
- Experience
- Qualifications
- The value you bring to an organization.
While passing the CFA exams is a significant achievement, it is just one part of the equation.
- Gain relevant experience, especially from renowned companies
- Continuously add value to your role by staying updated on market trends
All of which can significantly enhance your earning potential.
With dedication and strategic career planning, CFA jobs in India can open doors to lucrative opportunities and a rewarding career for you in the finance industry.
Keep striving for excellence, and the rewards will follow.
Good luck!
