Investment banks, asset management firms, and equity research companies are always on the lookout for CFA candidates. The demand for finance professionals with strong analytical skills is rising in India. In 2024 alone, over 24,000 candidates worldwide appeared for the CFA exams, and the numbers are expected to grow in 2025.
Clearing CFA Level 1 and Level 2 opens up exciting career opportunities in finance. Candidates develop expertise in investment analysis, financial reporting, and portfolio management. Even before completing all three levels, they can land promising roles in top firms. Salaries depend on factors like experience, location, and job role, but a CFA certification almost always leads to better pay than non-certified professionals.
In this blog, we’ll break down the job roles and salary expectations for CFA Level 1 and Level 2 candidates in India.
Jobs & Salaries After CFA Level 1
Clearing CFA Level 1 opens doors to entry-level roles in finance. While it does not guarantee high salaries immediately, it enhances employability. Below are common roles for CFA Level 1 candidates:
-
Research Analyst
A Research Analyst plays a crucial role in the finance industry, particularly in investment firms, asset management companies, and equity research firms. Their main job is to:
- Analyse financial statements
- Study market trends
- Assist in investment decisions
- Dive deep into company reports, earnings data, and economic trends
- Provide insights that help investors make informed choices
Salary: Upto 10 LPA
-
Investment Banking Analyst
An Investment Banking Analyst is responsible for supporting mergers and acquisitions (M&A), financial modeling, and preparing pitch books for high-profile clients. These professionals work in high-pressure environments, assisting senior bankers with deal execution and company valuations. Their key responsibilities include:
- Conducting company valuations using DCF (Discounted Cash Flow), comparable company analysis, and precedent transactions.
- Preparing financial models to assess deal feasibility.
- Assisting in mergers, acquisitions, and corporate restructuring deals.
- Creating pitch books and presentations for client meetings.
- Collaborating with senior bankers to execute complex transactions.
Salary: Upto 30 LPA
-
Risk Analyst
A Risk Analyst plays a key role in identifying, assessing, and mitigating financial risks for businesses, banks, and investment firms. Their job is to analyse potential risks, ensure regulatory compliance, and develop risk models to protect an organisation’s financial health. They are tasked with:
- Identifying and evaluating financial, operational, and market risks.
- Developing risk models using statistical and financial techniques.
- Ensuring compliance with regulatory requirements (such as Basel norms).
- Monitoring investment portfolios to mitigate exposure to potential losses.
- Collaborating with other departments to create risk management strategies.
Salary: Upto 19 LPA
-
Credit Analyst
A Credit Analyst evaluates the creditworthiness of companies and individuals, determining their ability to repay loans and debts. This role is crucial in banking, lending institutions, and credit rating agencies. Their main responsibilities are:
- Analysing financial statements, cash flows, and credit reports of businesses.
- Assessing a company’s debt structure and ability to meet financial obligations.
- Preparing credit risk reports and recommending loan approvals or rejections.
- Monitoring economic trends and industry conditions affecting credit risks.
- Collaborating with banks, NBFCs, and rating agencies to provide credit insights.
Salary: Upto 16 LPA
-
Portfolio Analyst
A Portfolio Analyst supports investment managers in asset allocation and portfolio performance tracking. They help construct and optimize investment portfolios based on client goals and risk tolerance. They are tasked with the following responsibilities:
- Analyse market trends and asset performance.
- Assist in portfolio construction and rebalancing.
- Monitor asset allocation and investment risks.
- Prepare investment performance reports.
- Work with fund managers to optimise returns.
Salary: Upto 16.9 LPA
Jobs & Salaries After CFA Level 2
Passing CFA Level 2 significantly enhances career prospects. Employers prefer Level 2 candidates for roles requiring deeper financial expertise. Below are some job roles available:
-
Equity Research Analyst
An Equity Research Analyst evaluates companies, industries, and market trends to provide investment recommendations. They assist institutional investors and fund managers in making informed decisions. They are tasked with:
- Analysing company financials and market data.
- Forecasting earnings and assess valuation metrics.
- Preparing research reports with buy/sell/hold recommendations.
- Tracking economic and industry trends affecting stock performance.
- Engaging with company management and investors.
Salary: Upto 24 LPA
-
Financial Analyst
A Financial Analyst plays a critical role in helping companies make informed business and investment decisions. They work with financial data, analyse trends, and prepare reports to support budgeting, forecasting, and strategic planning. They are tasked with:
- Developing and maintaining financial models for forecasting and valuation.
- Analysing company budgets, cash flows, and investment opportunities.
- Assessing financial statements to provide insights on profitability and risks.
- Assisting in strategic planning by evaluating market trends and economic factors.
- Collaborating with management to improve financial efficiency and cost control.
Salary: Upto 13 LPA
-
Risk Manager
A Risk Manager is responsible for identifying, assessing, and mitigating financial risks that could impact a company’s stability. They work closely with senior management to develop risk management strategies and ensure regulatory compliance. Their main responsibilities include:
- Identifying potential financial risks, including credit, market, and operational risks.
- Ensuring that the company adheres to financial regulations and risk management frameworks.
- Developing policies and implementing controls to minimize financial losses.
- Using financial models to assess risk exposure and provide recommendations.
- Planning responses to financial crises and implement contingency plans.
Salary: Upto 31 LPA
-
Fund Manager (Mutual Funds & AIFs)
A Fund Manager manages investment funds, optimizes portfolio returns, and makes strategic investment decisions. They oversee mutual funds, hedge funds, and alternative investment funds (AIFs), ensuring maximum returns while minimising risks. They are responsible for:
- Designing and managing investment portfolios based on risk and return objectives.
- Analysing market trends and selecting stocks, bonds, or alternative assets for funds.
- Monitoring fund performance, adjusting holdings, and ensuring optimal returns.
- Balancing portfolio risks while maximising profits for investors.
- Communicating with stakeholders, presenting fund performance, and attracting new investors.
Salary: Upto 90 LPA
-
Corporate Finance Associate
A Corporate Finance Associate plays a key role in financial decision-making, helping companies raise capital, execute mergers and acquisitions (M&A), and optimise financial structures. They work in investment banks, corporate finance teams, private equity firms, and consulting firms to support large-scale financial transactions. Their key responsibilities include:
- Conducting financial due diligence and assisting in deal execution.
- Analysing debt and equity financing options to optimising funding strategies.
- Using financial models to assess company valuations for investments and acquisitions.
- Supporting corporate planning, budgeting, and investment decisions.
- Working with investors, banks, and senior management on financial deals.
Salary: Upto 11 LPA
Factors Affecting CFA Salaries in India (100 words)
Several factors influence salary levels for CFA candidates in India:
- Experience: Higher experience leads to better salaries and senior roles.
- Industry: Investment banking and asset management pay more than corporate finance.
- Location: Mumbai and Bangalore offer higher salaries compared to smaller cities.
- Additional skills: Knowledge of financial modeling, Python, and Excel boosts earnings.
What Lies Ahead: A Promising Future for CFA Candidates
Clearing CFA Level 1 and Level 2 is just the start of an exciting finance career. These credentials open doors to roles in investment banking, equity research, and portfolio management. With India’s financial sector expanding, companies actively seek CFA candidates for key decision-making roles.
The demand for finance professionals is growing, and CFA holders have a promising future. Gaining experience, sharpening analytical skills, and staying updated with market trends can speed up your career growth exponentially. With focus and the right approach, a high-paying and fulfilling finance career is well within reach.
