Chartered Accountancy (CA) is generally considered tougher and more rigorous than the Chartered Financial Analyst (CFA) designation, primarily due to its lower pass rates (10-15% at the final level), longer duration (4-5 years), and broader syllabus covering, law, audit, and taxation. While CFA is a globally recognized, intense, and highly demanding program (approx. 40-50% pass rates), CA requires higher endurance.
The CA program is far more thorough and rigorous since it includes a wide variety of disciplines such as accounting, taxation, law, auditing, and finance. The CFA program, on the other hand, is highly specialized, focusing on investment analysis, portfolio management, and ethical standards.
Both exams are challenging, and you'll need in-depth knowledge of complex concepts in finance or accounting. However, the CPA Exam generally requires less studying - around 80 to 120 hours per section compared to 300 hours per section of the CFA Exam, and the CPA Exam also has a higher pass rate.
The Chartered Financial Analyst (CFA) exam is known to be one of the toughest exams in the world. It is designed to test finance professionals on tools and practices within the finance and investment management disciplines.
Many professionals are now pursuing CPA after CA, especially those looking for international exposure and higher roles in MNCs. This combination is highly valued in firms like Deloitte, EY, PwC, KPMG, and global finance divisions.
CFA Exams Pass Rates
The CFA exams are perhaps the most challenging exams out there. They are often referred to as “bar none” the toughest exams—even harder than medical school or law school exams—with pass rates that hover around 50% and were much lower during the recent pandemic.
One of the main reasons many professionals pursue the CFA designation is the potential for higher earnings. The average base salaries of CFA Institute members and CFA charterholders increased at a greater rate year over year than the rate of increase for the general market.
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.
Three months can be enough time, but typically it takes a candidate at least six months to prepare for the CFA Level 2 exam.
Who gets more salary, CA vs CFA? Salaries for both CAs and CFAs can vary based on experience, industry, and location. On average, a CA in India earns between INR 6 to 10 LPA, whereas a CFA can earn anywhere between INR 5 to 20 LPA depending on the company and the role.
The CA course earns its title 'King of Careers' due to providing substantial job security. Once you become a Chartered Accountant, you can be sure that you will get a good job at a good company. You will also have the opportunity to start your own business or company if you wish to do so.
CA Final is the last and the most difficult CA Course in which you have to study hard to score good marks. CA Final is believed to be the toughest in CA Course because of its vast syllabus. Yes, the CA Final syllabus is vast, and to clear the CA Final exams, students have to start preparation from Day 1.
Fast-forward a few years, and Erica now runs an accounting practice making over $200,000 yearly—on less than 15 hours of work per week.
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.
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.