written by Khatabook | January 13, 2022

What is the Salary of a Chartered Financial Analyst (CFA) in India

The role of Chartered Financial Analyst (CFA) has grown in popularity over the years. The number of applicants registering for CFA in India has been steadily increasing, where India is now the third-largest market for CFA after China and the United States. It's safe to conclude that the number of job seekers in the field has risen.

According to the National Stock Exchange, only 2.3% of the Indian population has invested in financial markets, compared to around 78% in the United States. Imagine the amount of money that will flow into capital markets as the Indian populace gradually shifts their money from savings and other investment vehicles to capital markets, making it a lucrative career opportunity. This blog will show how much a chartered financial analyst salary in India will be in the future.

Did you know? The post of CFA in India has grown by 30% over the last 7 years.

What is the CFA profession?

The acronym CFA stands for Chartered Financial Analyst. The CFA designation is one of the most desired roles among investment professionals worldwide. The CFA Institute offers an internationally recognised professional certificate in financial management and investment management. The CFA program is widely considered the most prestigious and well-known finance and investment management qualification. Candidates who complete the course obtain knowledge of the finance and investment industries, applying to their existing skills. As a result, your chances of securing a high-paying finance and investment management position improve.

India has seen an increase in CFA jobs due to the country's rapid industrialisation and globalisation. Candidates who will be certified by the CFA Institute after passing the three levels of tests listed below:

  • CFA Level 1
  • CFA Level 2
  • CFA Level 3

Scope of CFA in India

CFA is becoming more popular in India with each passing day. One of the most important factors in India's financial industry is there is ample opportunity for growth. CFA in India is drawing many candidates due to the certainty of absorption in the rising financial industry.

The best aspect of the CFA training is immediately recognised after passing CFA Level 1. As one progresses through the levels, they advance up the financial ladder. After completing CFA levels 2 and 3, applicants will be able to advance into the field of their choice.

CFA level 1 jobs salary

An accountant or assistant accounting manager, investment administrator, intern, investment product analyst, fund analyst, and junior equities research analyst are jobs for a CFA Level 1 graduate.

A person who passes the level 1 exam can work as an accountant, a fund analyst, or a junior research analyst in a corporation and earn up to ₹35,000 per month. The pay also varies depending on where you work, such as the CFA level 1 salary in Mumbai, roughly ₹40 to 45 thousand per month.

CFA level 2 salary in India

Clearing level 2 will propel you into the world of capital market research and analytics. One can progress from back-office or operations to stock research, wealth management, analytics, or a model akin to sell-side research. Equity research associate/analyst, risk analyst, fixed income research, rating analyst in a rating agency, financial Planning and Analysis (FPA), and corporate strategy are just a few of the positions available to a CFA level 2 applicant.

Working in the sector of wealth management and analytics, a Level 2 pass candidate can expect a nice compensation of roughly ₹6 lakhs per annum.

CFA level 3 salary in India

Clearing CFA level 3 guarantees you a spot in the finance industry's top jobs. Every job profile falls inside one's scope of operations, from obtaining money to managing it, investing it, examining it, and finally divesting it. People with prior experience can advance in the same area of operation, while those new to the game can still claim a strong start. After finishing CFA level 3, you are directly eligible for positions such as investment banker, portfolio manager, risk manager, market research analyst, and private banker.

Clearing level 3 and becoming a Chartered Financial Analyst opens up a whole new world of opportunities. You can work as a risk manager, portfolio manager, Market Research Analyst, Investment Strategist, or Forex Analyst in large corporations. These jobs pay well, and a CFA starting salary in India can be around ₹10 lakhs per annum.

Also Read: Professor Salary in India

Future of Finance professionals in India

From the perspective of investment, India has all the potential to become the world's future investment hub. Our country is one of the fastest-growing economies, with growth rates of up to 33% in the financial sector predicted over the next decade. India is experiencing a rapid economic expansion, and the population's need for financial services is growing. As a result, India benefits from favourable globalisation and beneficial investment technology trends.

Choosing a Chartered Financial Analyst career in India is beneficial because professionals are placed in the most promising and well-paying positions both in India and abroad. The presence of global investment businesses in India provides additional investment and operational opportunities for the country's Chartered Financial Analysts.

Salary Structure of CFAs in India

The following is a compensation breakdown for the many positions that Chartered Financial Analysts can pursue after receiving their certification. The average salary of CFA in India is ₹5 lakh per year, with the greatest compensation a CFA may earn being close to ₹20 lakh.

Pay Scale of Chartered Financial Analyst

Job Role


Chartered Financial Analyst


Senior Financial Analyst


Credit Analyst


Financial Analyst


Associate in investment banking


Finance Manager


Equity Research Associate


Investment banker


Portfolio Manager


Senior Business Analyst


Equity Analyst


Senior Analyst, Finance


Vice President in finance


Chartered Financial Analyst Top Recruiters

J.P Morgan, The Goldman Sachs Group, Citigroup, Morgan Stanley, HSBC, Crisil, Credit Suisse, and others are among the country's top recruiters of CFA graduates. The following are the CFA pay ranges as certified by the employer:

India's Top Employers for Chartered Financial Analysts


Salary Package (lakh per annum)

The Goldman Sachs Group

₹3,00,000 – 25,00,000

Morgan Stanley

₹4,00,000 – 30,00,000

J.P Morgan

₹5,00,000 – 40,00,000


₹4,00,000 – 30,00,000

Credit Suisse

₹10,00,000 – 40,00,000


₹3,00,000 – 25,00,000


₹4,00,000 – 25,00,000

The following are the other top CFA recruiters in India, along with their remuneration packages:

  • Deloitte: ₹6,00,000 - 30,00,000
  • EY: ₹6,00,000 - 35,00,000
  • KPMG: ₹4,00,000 – 20,00,000
  • PWC: ₹5,00,000 – 20,00,000
  • SBI: ₹5,00,000 – 15,00,000
  • Standard Chartered Bank: ₹8,00,000 – 40,00,000
  • HDFC Bank: ₹5,00,000 – 25,00,000
  • Bajaj Finance: ₹4,00,000 – 12,00,000

Chartered Financial Analyst Salary in India

The average salary of CFA in India is ₹9 lakhs. CFA Salary in India for freshers is around ₹50,000 per month in cities like Mumbai, Gurgaon, and Hyderabad. They receive bonus and variable pay in addition to the basic salary; the CFA starting salary in India, including bonus and variable pay, can be approximately ₹5 lakh, but it can go up to ₹15 lakh.

Also Read: Bank Manager Salary in India


As chartered members proceed further in their careers, it's apparent from the job type and industry experience breakdowns that the CFA salary in India continues to pay dividends. The more years of experience you have, the more valuable your CFA charter becomes. A CFA charter holder earns more than a finance MBA employee on average. In the city-by-city analysis, we see that financial firms in Mumbai and Gurgaon reward their employees for a greater cost of living than the national average. Finally, regardless of the top abilities analysts possessed or the degree they held, the benefits of a CFA credential were true.

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Q: What is the purpose of enrolling in the CFA Program?


Students must know why they seek that particular degree/course/etc. Before going on an academic journey. Finishing the Chartered Financial Analyst program has various advantages, some of which are stated below:

  • Job Opportunities in Large Numbers: A Chartered Financial Analyst will have a wide range of job options after completing the program. Job opportunities for CFAs, Financial Advisors, and other professionals have been formed in various industries, including accounting, asset management, risk analysis, financial services, and many more.
  • Exceptional Range: One undeniable fact about Chartered Financial Analyst is that it has a lot of promise, given the variety of job alternatives and growth chances available to them.
  • Paycheque with a Larger Amount: Another significant benefit of Chartered Financial Analysts is that they are well compensated. The typical annual income ranges from ₹4 lakhs to ₹40 lakhs after completing the Chartered Financial Analyst program.

Q: What are the job prospects of Chartered Financial Analyst in India?


The job type is another factor that influences the CFA average income. With a CFA degree, graduates can work in a range of roles. The following are the primary profiles that will be considered:

  • Portfolio manager
  • Financial Analyst
  • Chief executive
  • Research Analyst

According to data, the portfolio manager earns the most money among the various job descriptions. The portfolio manager's work includes developing investment plans and putting them into action. According to CFA Institute data from 2018, about 22% of CFA charter holders work as portfolio managers in various businesses. The Research Analyst profile ranks second among the other CFA charter roles following that.

A research analyst's job includes presenting and interpreting data to make marketing, economic, and customer-related choices. In the role of a Research Analyst, around 15-16% of CFAs work globally. Because chief-level executives have such a wide profile, the average CFA compensation varies from year to year. Some applicants have the position of Chief Financial Officer, while others hold the position of Chief Investment Officer.

As a result, it isn't easy to establish whether the CFA salary of this profile has increased or decreased. According to data from the CFA Institute, just 7% of CFA Charter holders become Chief Executive. Many other positions exist, such as Risk Managers, Consultants, Auditors, and Advisers, although their starting salaries vary based on their expertise and industry.

Q: Which country pays CFA Charterholders the most money?


According to current sources, Singapore provides the highest remuneration to CFA Charterholders.

Q: What is CFA's monthly salary?


The following is the CFA salary in India per month in terms of clearance of level:

Level of CFA Cleared

Average Annual Salary (₹)

Level 1

4 – 5.4 Lakh

Level 2

6 Lakh

Level 3

10 Lakh and above

Q: Is being a CFA a worthwhile career choice?


For those interested in becoming investment experts, becoming a Chartered Financial Analyst (CFA) is a rewarding career option. Students interested in finance, financial planning, and other related fields should pursue a career as a CFA. For becoming an official CFA in India, one must first obtain the appropriate qualifications and certifications.

Q: How much of a raise does CFA get?


The CFA designation raises salaries by about 15% to 20% on average. It indicates that the CFA designation leads to a higher income increase in senior positions than in entry-level employment.

Q: What are the responsibilities of Chartered Financial Analysts (CFAs)?


Chartered financial analysts (CFAs) are responsible for monitoring and assisting clients in improving their financial performance. Monitoring entails keeping track of progress, anticipating using financial models, reviewing plans, and reconciling transactions. To increase performance, all data must be thoroughly evaluated before being presented with solutions such as automation, eliminating redundancy, enhancing coordination, and dealing with other flaws. In some situations, this may necessitate specialist expertise in specific subjects; nevertheless, in general, good problem-solving skills and strong communication skills are required to get excellent results.

Chartered financial analysts usually work as part of a team, although working alone with little supervision is also vital. Jobs as a chartered financial analyst can be found in various financial institutions, including banks and financial advising firms. Companies in many areas have also hired analysts rather than depending on external staff to undertake financial research in some circumstances.

Q: What job opportunities are available for CFA?


CFA Charterholders operate in various fields, including credit analysis, equity research, mergers and acquisitions, portfolio management, and so on.

Q: What’s the CFA average salary in India?


The pay of a CFA charter holder can range from ₹14 lakh to ₹30 lakh per year, depending on numerous factors:

  • Educational background
  • Years of professional experience
  • Residence location
  • Size and type of business
  • Career path

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