Want to build a successful career in finance but are confused about where to begin?
You’re not alone.
Many people starting out in the finance world often find themselves stuck between 2 popular choices:
- Should you go for financial modeling jobs that give you hands-on experience and practical skills?
- Should you challenge yourself with the CFA exam — a globally recognized certification that requires time, dedication, and discipline?
Both options have their pros.
But which one’s right for you?
In this blog, we’ll break it all down, and you’ll learn:
Let’s get started!
What Does The Financial Modeling Job Journey Look Like?
If you’re thinking about starting your career with financial modeling jobs, here’s what the journey usually looks like:
1. Start with the basics:
You start by learning key finance skills like:
- Excel
- Accounting fundamentals
- Financial statements (like balance sheets, income statements, and cash flow)
These are the building blocks of every financial model.
2. Understand how models work:
Next, you learn how to create financial models — these are tools that help businesses make decisions using numbers.
For example:
- Should they invest in a new project?
- Can they afford to hire more people?
- What will their profit look like in 6 months?
3. Start practicing:
You practice by building different models, like:
- Budget forecasts
- Cash flow projections
- Business valuation models
- Decision-making tools (like buy vs lease)
The more you practice, the better you get.
4. Get a job or internship:
Once you’ve got the basic skills and some practice (maybe even through projects or online courses), you can start applying for:
- Entry-level financial analyst roles
- FP&A roles (Financial Planning and Analysis)
- Internships at startups or finance teams
These jobs help you use your modeling skills in real life.
5. Grow with experience:
Over time, as you work on real projects, your models get sharper.
You learn how to:
- Explain numbers clearly
- Support business decisions
- Add more depth and logic to your models
As you grow, you can move into senior roles — and even switch to investment banking, private equity, or strategy roles if you want.
The financial modeling job journey is skill-first and hands-on.
→ You learn, practice, apply, and grow.
And the best part?
You don’t need fancy degrees to get started — just the right skills and mindset.
What Does The CFA Journey Look Like?
The CFA (Chartered Financial Analyst) program is one of the toughest and most respected finance certifications in the world.
It’s great if you want to work in fields like investment banking, portfolio management, equity research, or asset management.
But here’s what the journey looks like:
1. There are 3 levels
To become a CFA charterholder, you have to pass three levels of exams:
→ Level 1 (basic concepts)
→ Level 2 (deeper analysis)
→ Level 3 (applying everything in real-world scenarios).
2. It takes time:
Most people take 3–4 years to complete all levels.
Each level needs months of serious study, around 300+ hours per level.
3. You need qualifications:
To start CFA Level 1, you need:
- A bachelor’s degree (or be in the final year) or
- 4,000 hours of work experience (around 2.5 years)
4. It’s not cheap:
The CFA exams cost ₹1.5–2.5 lakhs in total (depending on when you register).
Plus, you’ll invest in study materials, mock tests, and coaching if needed.
5. It doesn’t guarantee you a job:
Having a CFA doesn’t automatically get you a job.
It’s a tool, not a golden ticket.
To make it work, you also need networking, internships, or work experience in finance.
In short, the CFA journey is for people who are serious about building a long-term career in high-level finance roles.
It’s tough, but it can open big doors if you use it well.
Financial Modeling Jobs VS CFA Certification—Which One is Better?
If you’re just starting out, here’s the truth:
You don’t need a CFA or an expensive certification like FMVA to land an entry-level job in finance.
What you do need are real skills, like:
- Excel
- Financial modeling basics
- Understanding financial statements
- Clear communication.
So, is the CFA worth it?
Yes — if your long-term goal is to get into:
- Portfolio management
- Equity research
- High-level investment roles at top firms
A CFA can open big doors, and many professionals do see salary jumps after completing it.
But here’s the thing: It’s not a golden ticket.
You still need:
- Real-world experience
- Strong networking
- Personal drive
What about financial modeling jobs?
If your aim is roles like:
- Corporate finance
- FP&A
- Investment banking
Then, financial modeling is a faster and more practical route.
You can start learning for free through YouTube, books, blogs, and practice everything on Excel.
No fancy degree required.
It’s hands-on, job-ready, and in high demand.
So, which one should you choose?
It depends on a few key things:
- Your goals (where do you see yourself in 3–5 years?)
- Your financial situation (CFA can get expensive)
- Your willingness to grow (are you ready to put in the work?)
To wrap up:
Start with financial modeling to build real skills and land your first job.
Once you’ve gained experience and if your path calls for it, go for the CFA.
At the end of the day, both are tools. What matters more is how well you use them.
Conclusion
At the end of the day, real skills and hands-on experience will always win over just bookish or theoretical knowledge.
You can have a CFA or any top certification, but if you don’t know how to work on:
- Real problems
- Handle messy data
- Building useful models won’t take you far.
That’s why financial modeling jobs are such a great starting point.
They teach you how to apply concepts in real business situations — from forecasting numbers to helping companies make important decisions.
So if you’re serious about a career in finance, focus on building skills first.
→ Learn Excel.
→ Understand cash flows.
→ Practice models.
→ Take action.
Because in the real world, it’s not about what you know — it’s about what you can do with what you know.
And that’s what truly sets you apart.
