Are you also one amongst those who are confused as to what profession will give you the best future? Career decision is an important step in life, especially when financial stability comes to mind, a good career is what everyone desires. Have you ever wondered about how much a Chartered Financial Analyst (CFA) and Certified Management Accountant (CMA) earn in India? Look no further! In this article, we will see more about these professional courses and how you can also be the one.
CFA and CMA Course
The CFA and CMA certifications are highly in demand in the industry: –
The CFA certification is offered by the CFA Institute and is considered the one of a standard certification for investment professionals. It is a professional course that provides a level of competence and knowledge in areas such as investment analysis, portfolio management, and wealth planning.
The CMA certification, on the other hand, is offered by the Institute of Management Accountants (IMA) and is focused on management accounting. It is a professional certification that makes you learn the skills in areas such as financial planning, performance measurement, and decision-making.
Why is having a Professional Certification Important?
Having a Professional Certification often serves as a benchmark for employers to assess potential candidates, distinguishing certified professionals from non-certified peers.
Professional Certifications can expand professional networks, connecting individuals with a broader community of experts, thereby fostering opportunities for growth and collaboration.
They can lead to increased earning potential and job stability, providing a competitive edge in a crowded job market.
Career In CFA
The CFA course is a three-level program offered by the CFA Institute, a global professional qualification dedicated to promoting ethics, excellence, and opportunities for finance professionals. The program is designed to provide its candidates with the knowledge, skills, and expertise needed to excel in the job market.
CFA Course Levels:
Level 1: Focuses on the foundation of investment knowledge, including ethics, economics, and financial reporting.
Level 2: Covers investment knowledge, including asset valuation, portfolio management, and wealth planning.
Level 3: Offers advanced investment knowledge, including portfolio management, asset allocation, and wealth planning.
The CFA is also a competitive course, the salary range for CFA professionals in India is quite wide, and is generally higher than that of non-certified professionals. The salaries also tend to increase with experience and level of certification: –
- CFA Fresher: ₹4,00,000 – ₹8,00,000 per annum
- CFA with 2 to 3 years of experience: ₹6,00,000 – ₹12,00,000 per annum
- CFA with 5+ years of experience: ₹15,00,000 – ₹20,00,000 per annum
CMA Profession and Course Details
The CMA course is a three-level program offered by the Institute of Management Accountants (IMA), a global professional organization dedicated to promoting management accounting and financial management. The program is designed for upskilling the candidates with the knowledge, skills, and expertise needed in management accounting and financial management.
CMA Course Levels: The levels are designed in a basic to advanced manner.
CMA Foundation: Covers the basics of management accounting, including financial reporting, budgeting, and financial management.
CMA Intermediate: Focuses on advanced management accounting, including strategic management, financial analysis, and decision-making.
CMA Final: Covers management accounting, including financial planning, performance management, and business strategy.
The CMA salary in India also varies widely depending on factors such as location, industry, experience, and level of certification. According to data from various sources, the salary for a CMA professional in India can range from ₹4,00,000 – ₹15,00,000 per annum, depending on factors such as location, industry, experience, and level of certification. The salaries for CMA professionals in India also tend to increase with experience and level of certification.
Course Preparation
Both the CMA and CFA course require a good deal of understanding and the aspiring candidates must prepare for the exam properly. The Exams are purely based on conceptual understanding and therefore just reading from study materials is not enough.
For proper preparation you can choose Zell Education, it provides both CFA and CMA course preparation. They have an extremely dedicated faculty for providing end-to-end support to its students.
Value of Professional Courses
The CFA and CMA courses are highly valueable and offer a wide range of opportunities for finance professionals. While the salaries vary widely depending on factors such as location, industry, experience, and level of certification, they are generally higher than those of non-certified professionals.
By completing any of these courses, individuals can gain a deeper understanding of various important topics and enhance their earning potential. Whether you are just starting your finance career or looking to take the next step, both CFA and CMA courses can provide the knowledge and skills needed to succeed in this highly competitive industry.
If you are an aspiring finance professional looking to make a mark in the industry, remember
to always keep learning and developing your skills and knowledge, and you will be well on your way to a successful and lucrative career in finance.
