The CFA (Chartered Financial Analyst) is generally considered more difficult than the ACA (Associate Chartered Accountant) due to lower pass rates (often <40-45%) and a more rigorous, specialized curriculum focusing on investment analysis. While ACA involves more exams (15) covering broad accounting and auditing topics over 3 years, CFA has three highly intense levels taking 3-4+ years with deeper, more technical subject matter.
Some claim that CFA is harder than ACCA as only one in five candidates who enroll in the course successfully completes it. [3] Furthermore, it takes 4 years to complete the course vs. the 3 to 4 years more typiucal of the ACCA student.
Both CA and CFA are challenging in their own right, but CA is often considered tougher, particularly due to its lower passing rates and comprehensive syllabus that covers accounting, law, taxation, and audit.
Average Age of CFA Candidates
Although many candidates are in their late twenties or early thirties, the Program has a wide age range. Many begin at 35, 40, or even 50. Some of the most thoughtful, determined candidates are the ones who start later. Experience is not a burden.
The 10th and 90th percentiles were removed from the report because we have added scale scores. Scale scores add more precision to your results interpretation. The 10th and 90th percentiles only provide a comparison of your result against other candidates in the same administration.
Three months can be enough time, but typically it takes a candidate at least six months to prepare for the CFA Level 2 exam.
However, let's put things into perspective: the CFA Level 1 exam is not a math test. The CFA Institute has made it clear that calculations will account for no more than 30% of the questions on the exam. To put it in numbers, that's a maximum of 54 out of the 180 questions.
AVERAGE CFA SALARY VS CA SALARY IN INDIA
(12+ Lakhs P.A.) (18+ Lakhs P.A.) An Average CA makes 7.36 Lakhs P.A. according to ICAI reports.
Fixed income is generally regarded as one of the most difficult CFA subjects in CFA studies. Its difficulty lies in grasping bond features, pricing models, yield computation, and sensitivity to changes in interest rates.
CFA Level 1 pass rates have remained relatively stable and above 40% since 2014 for paper-based exams. The December 2020 exam's jump in CFA Level 1 pass rate to 49% is most likely due to the additional time candidates have due to multiple COVID-19 exam postponements.
All Big 4 accountancy firms – Deloitte, PwC, EY, and KPMG – are active recruiters of ACCA-affiliated accountants. Choice often depends on your interest area: audit, consulting, tax, or advisory.
There is a very specific subset of roles that having CFA would be beneficial and that's asset management and equity research. You'll find that moving into PE with audit experience and ACA and CFA is practically impossible unless you went to a target school.
Both ACCA and ACA have three course levels, but ACA is often considered more difficult due to its focus on private practice skills, with the strategic professional option in the ACCA having the lowest pass rates.
The CFA demand 2026 remains robust across both India and global markets. Whether you want to enter investment banking, credit analysis, or equity research, firms still value the analytical mindset CFA holders bring to the table. But that value depends on how you use it.
Too many candidates rely on memorization—formulas, definitions, and shortcuts—hoping it will be enough. But let me be clear: the CFA exam does not reward rote learning. The exam is designed to test how well you can apply concepts, not just recall them.
But obtaining a CFA is no easy feat. CFA exams are considered the most challenging out there—even harder than medical school or law school exams—with pass rates under 50%. The certification process demands years (yes, you read that right) of dedication, time, and effort.
Yes, it's possible to pass CFA Level 1 in 1 month with focused study, disciplined daily schedules, and frequent practice with mock exams and quizzes.
Due to the vast material covered on the exams, the CFA® Institute suggests that candidates begin to prepare for each Level at least six months in advance, and recommends approximately 300 study hours per exam.
CFA Level 1 is widely considered a very difficult exam due to its broad curriculum, demanding study commitment (often 300+ hours), challenging technical content, and typical ~40% pass rates, requiring strong discipline to learn and recall foundational finance concepts, though it's often seen as the most manageable of the three levels because it focuses on learning and describing rather than deep analysis. Success hinges on consistent study, mastering core topics like Ethics, FSA, and Investments, and effective exam technique, making it a significant hurdle for many.
The CFA Level 1 passing score is not fixed every year, but it usually stays between 65% and 70%. CFA Institute does not publish an official cut-off, but this range is considered the minimum benchmark to pass.
The CFA may be down, but it's not out, financial advisors say. A total of 116,727 people sat for all three levels of the CFA exam in the first eight months of 2024, down 2,735 from the same period in 2023, according to the CFA Institute.
Candidates who are unsuccessful after six attempts at the same level are no longer eligible to register —this applies to attempts under both existing and newly created accounts.