Do you want to go for better job prospects in finance carrying the CFA or ACCA? International certifications are highly sought after and guarantee unbeatable prospects with great pay. Do you want to be an accountant or investment banker, perhaps corporate finance? The certifications would arm you with the knowledge and qualifications which will assure success in any of the roles mentioned above.
Accepted in more than 180 countries, this will bring practice to all its members on multiple international platforms. Since there needs are near the top level on the same, UK, Canada, Australia, Singapore and the UAE prove rather suitable venues for these practitioners holding accreditation from ACCA.
This blog elaborates on the potential income after achieving the CFA or ACCA qualification, CFA course details, ACCA course details and some interesting facts on how such a qualification can take a turn for your career.
Why Choose CFA or ACCA for Your Finance Career?
CFA and ACCA certifications are internationally acclaimed, which will open doors to highly paid jobs in finance and accounting fields.
- Global Recognition
CFA: International acceptability for work in investment management and financial analysis in 165 countries
ACCA: Accepted by 180 countries, which creates a passport of international opportunities available to accounting, audit, and finance professionals
- Career Flexibility
CFA: Good career prospect associated with investment banking, portfolio management, and equity research
ACCA: A good career suited to work under accountancy, audit, taxation, and consultancy.
- Earning Potential
Both of these qualifications carry good salary that will be elaborated in detail later in this section.
Salaries After CFA or ACCA Certification
The professionals who have achieved their certification either by CFA or ACCA have salary bases on experience, industry, and location.
Salaries After CFA Certification
- Entry Level Profile: A charter holder individual in India ranges between ₹6,00,000 to ₹12,00,000 per annum.
- Middle Level Profiles: Salary for a 5-10-year experience candidate has to be something between ₹15,00,000 to ₹30,00,000
- Senior Level Profiles: Salaries at level of portfolio manager or even Finance Analyst can move within ₹50,00,000, so with that is the scope for getting paid and so at least a bonus opportunity on performance
Salaries After ACCA Certification
- Junior Level Jobs: Starting Salary for anyone who will qualify as an ACCA for the first time should range between ₹5,00,000 and ₹8,00,000.
- Middle Career Level Jobs: From this figure of ₹12,00,000 to ₹20,00,000 per annum will be pulled by experience.
- Senior Level Designation and above, those who heads finance and having ACCA qualifies to get anywhere upwards of ₹40,00,000 as per annum
Global Salaries for CFA and ACCA
CFA: the pay of individual holding the US-based charter of CFA is in US$ 70,000-150,000 salary scale
ACCA: Working people of UK, Australia, and Singapore for a proper position with a level require £40,000 to £100,000 years.
CFA Course Details and Fees
CFA Course Overview
The CFA program is there for professionals those who are linked with investment management and financial analysis. It comprises three levels
- Level I: Investment tools and ethical standards
- Level II: Concept application in professional cases.
- Level III: Portfolio management and advanced analytics
CFA Course Fees
The CFA course fees are based on the time of registration:
Duration
Most candidates take approximately 4-5 years to complete their CFA training program and the required professional work experience of 4,000 hours.
ACCA Course Details and Fees
ACCA Course Overview
There are three levels of ACCA course.
- Knowledge Level: This knowledge level gives elementary knowledge in accounting and finance.
- Skill Level: It consists of the skill-based level which brings a manner of concepts into practice in taxation, auditing, and financial reporting.
- Professional Level: In it, it discusses topics as well, which talk about strategic business leadership and advanced audit.
ACCA Course Fees
There exist two kinds of fees which are payable in respect to ACCA courses :
- ACCA Study Fee: This is paid to an ACCA learning partner like Imarticus Learning. This fee brings live classes, personal mentorship, study materials, practice sessions, exam preparation, and continued support to ensure that a candidate succeeds in ACCA exams.
- ACCA Board Fees: Paid directly to the ACCA body in the UK. These fees typically include:
- ACCA Membership Fees
- ACCA Registration Fees
- ACCA Exam Fees
The ACCA Board Fees are payable in Sterling Pounds and may vary based on the level and exam location.
Duration
Most students complete the ACCA qualification within 2-3 years, depending on their educational background and study pace.
Key Differences Between CFA and ACCA
| Aspect | CFA | ACCA |
| Focus | Investment Management | Accounting and Finance |
| Levels | 3 Levels | 3 Levels |
| Global Recognition | 165 Countries | 180 Countries |
| Hiring Companies | Mostly Indian Companies only | Work with Big 4 & MNCs Abroad |
| Duration | 4-5 Years | 2-3 Years |
How to Choose Between CFA and ACCA?
Consider Your Career Goals
- CFA: Choose CFA for roles in investment banking, asset management, or equity research.
- ACCA: It can be taken if the interest is more in accounting, taxation, or auditing.
Evaluate Your Time Commitment
- CFA requires a lot of time for working experience.
- While ACCA would be completed a lot earlier to that of the CFA one, and thus it can also be completed quite a lot earlier for an experienced accountant.
Frequently Asked Questions
- What is the entry requirement of the CFA program?
One can join the CFA program either during undergraduate at the bachelor's level or during the last years at university.
- How much does the ACCA program cost?
The ACCA course charges a fee to the learning partners in the name of study fees and board fees paid directly to the ACCA body. It is around ₹2,00,000 to ₹3,00,000.
- How much do the ACCA professionals get paid?
It's between ₹5,00,000 to ₹20,00,000 per annum; that differs with experience and designation.
- Which of the two is most aptly suited for the investment banking arena?
CFA is more fit for the work one gets through the investment banking division because more of the kind of work the CFA course does is towards financial analytics and portfolio management
- Does ACCA happen online?
Yes, ACCA can be availed of the online platform for accreditation through learning partners like Imarticus.
- How many years would one take to finish the CFA course?
About 4-5 years, working.
- Are ACCA exams difficult to clear?
Yes, ACCA exams are quite tough, but with proper preparation and with the experience of the faculty, the students can clear them.
Conclusion
There are other career options with a finance-based career, which can be brought through the CFA or ACCA. Of course, for investment management, the best choice would be the CFA; in accounting and auditing, the direction, ACCA would be the better road. Indeed, these two certifications have become a gateway to global financial success given its worldwide recognition and top-earning salaries.
Join the fun today and get enrolled in a CFA course or ACCA course to mark your presence in the financial world.
