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 |
Remuneration |
|
Chartered Financial Analyst |
₹6,50,000 |
|
Senior Financial Analyst |
₹9,00,000 |
|
Credit Analyst |
₹6,30,000 |
|
Financial Analyst |
₹6,00,000 |
|
Associate in investment banking |
₹14,00,000 |
|
Finance Manager |
₹10,00,000 |
|
Equity Research Associate |
₹7,50,000 |
|
Investment banker |
₹15,00,000 |
|
Portfolio Manager |
₹18,00,000 |
|
Senior Business Analyst |
₹12,00,000 |
|
Equity Analyst |
₹5,00,000 |
|
Senior Analyst, Finance |
₹18,00,000 |
|
Vice President in finance |
₹30,00,000 |
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
|
Recruiters |
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 |
|
Citigroup |
₹4,00,000 – 30,00,000 |
|
Credit Suisse |
₹10,00,000 – 40,00,000 |
|
HSBC |
₹3,00,000 – 25,00,000 |
|
Crisil |
₹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
Conclusion
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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