Last updated on January 28th, 2026 at 04:45 pm
Choosing between CFA vs CPA is hard and might be the biggest decisions for finance candidates. Both of the qualifications are highly respected globally but the main difference is both lead to very different career paths, roles and career path. In India, there numerous multinational companies who actively hire CFA or CPA. Salaries of candidates can increase by 30-40% within two years of working in these companies depending upon your profile.
If you are a commerce graduate or finance aspirant and want to enter into finance with a core job. This article breaks it down for you which one to choose. I will also provide you India specific salary data. Both of the qualifications open doors internationally but they serve different purpose.
In this guide, I will compare both the credentials side by side from cost to structure to CFA vs CPA salary in India, time to qualify and long-term growth. I hope by the end of this article you will get clear which one you want to choose.
What is CFA?
Chartered financial analyst is a professional credential offered by CFA institute (USA) and is recognized worldwide as a gold standard for finance and investment. CFA focuses on advanced investment analysis, portfolio management and ethical financial practices.
CFA has three levels and each level has different syllabus and pattern which test candidates in various ways practical + theory. It consists of case studies, real world scenarios and quantitative analysis. To earn charter by CFA institute candidates must have 3 years + experience which is in finance, relevancy matters here.
CFA leads to finance path globally in investment banking, portfolio management and financial advisors and many more opportunities open up.
What is CPA?
CPA (Certified Public Accountant) offered by the American Institute of Certified Public Accountants (AICPA), which is the most recognized credential for accounting and audit professionals globally. It focuses on financial reporting, taxation, auditing, business law also ethics.
CPA exam includes four sections:
AUD (Auditing & Attestation)
BEC (Business Environment & Concepts)
FAR (Financial Accounting & Reporting)
REG (Regulations)
For you to qualify, Indian candidates must meet specific U.S state education requirements and pass all four exams within an 18-month window.
CPA vs CFA: Key differences
| Category | CFA | CPA |
| Primary Skill Set | Investment valuation, financial modelling, market analysis | Accounting, auditing, taxation, and compliance |
| Exam Duration & Difficulty | 3 levels; average 300+ study hours per level; global pass rate 40–45% | 4 sections; average 100–150 study hours per section; pass rate 50–55% |
| Average Completion Time | 2.5 – 4 years | 12 – 18 months |
| Regulatory Recognition | Globally recognized (esp. in finance & investments) | U.S. license with growing acceptance in India, Middle East & Asia |
| Work Domains | Investment Banking, Equity Research, Asset Management, FP&A | Accounting, Audit, Tax, Corporate Finance, Financial Reporting |
| Top Hiring Firms in India | Morgan Stanley, Goldman Sachs, JP Morgan, CFA-chartered asset firms | Deloitte, EY, PwC, KPMG, Accenture, Infosys Finance, MNC Captive Centers |
Choose CFA if you want to enter into core finance of analysing, managing and building models and evaluating results.
Choose CPA if you’re interested in accounting and auditing also compliance.
Both of the qualifications open doors to global opportunities where CFA gets as will get you in asset management and wealth management.
CFA vs CPA salary – Global and India
According to CFI, CFA roles often have performance linked bonuses which is upto 15-30% while CPA roles offer stable base salary with annual appraisals and benefits. If we talk about ROI, CPA investment is 3-4 lakh – typical payback in 12-18 months after certification. CFA return on investment takes 1-2 years as it takes 3-5 lakh to complete the whole CFA this is till level 2. After level three you might get return on investment within 1 year.
According to Indeed and Glassdoor, Globally, the average CFA salary is around $80,000 – $180,000 per year depending on experience and role.
For CPAs, global averages range between $70,000 – $150,000 per year, with higher figures in the U.S.
| Role | CFA Salary (India) | CPA Salary (India) |
| Entry Level (0–2 yrs) | ₹6 – ₹10 LPA | ₹5 – ₹8 LPA |
| Mid-Level (3–6 yrs) | ₹10 – ₹18 LPA | ₹8 – ₹15 LPA |
| Senior Level (7+ yrs) | ₹20 – ₹35+ LPA | ₹15 – ₹28+ LPA |
| Top Roles (VP/Director) | ₹40+ LPA | ₹30+ LPA |
In investment banking or equity research the salary for CFA goes from 15LPA to 35LPA vs CPA 10LPA to 18LPA. Similarly, Corporate finance or financial planning & analysis salary is 10-20LPA vs CPA 10-18LPA. MNC finance services offer CPA 12-20 LPA especially big four offer.
CFA vs CPA: Cost, Time analysis
| Factor | CFA | CPA |
| Total Cost (India) | ₹3.5 – ₹5 lakh (including all 3 levels, study materials, and exam fees) | ₹2.5 – ₹4 lakh (including evaluation, 4 sections, and training) |
| Time to Complete | 2.5 – 4 years | 1 – 1.5 years |
| Pass Rate | 45% average across levels | 55% average |
| ROI Timeline (Payback) | 2–3 years post-qualification | 1–1.5 years post-qualification |
Maximum candidates get placed with 6LPA package after their CFA level 1, invested capital in CFA is 3.5 Lakh which means the ROI is 6-8 months. Similarly, CPA candidates get 5LPA pre-certification and the salaries will increase as the level of qualification will go up!
Which should you choose?
If CFA learn:
- Financial modelling
- Financial statements
- Business valuations
- Markets
If CPA learn:
- Accounting
- Auditing
- Taxation
Conclusion:
Both the CFA and CPA openly rewards international careers but you should choose the once which align with your interest, goals also expectations.
FAQ
Which pays more CFA or CPA?
CFA pays more as it involves more of investment banking and asset management also CFA operates on bonuses bases. CPA has stable income and fixed income with fixed working hours.
Is CFA better for Banking or CPA?
CFA is better for banking, investment banking offers numerous opportunities around the globe. CFA is just more relevant for banking than CPA.
Can you pursue both CFA and CPA?
You can pursue both CFA and CPA there is no rule which abides this. The only issue is time and money. Having both will help you land a consulting role after some experience.
Who earns more CPA or CFA?
There is no much difference in CFA vs CPA pay level. Yes as the beginning CFA candidates will get paid more than CPA candidates but eventually with time both will come to a same level. This depends on various factors like job position, company level also country.
