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Chartered Financial Analyst, in short CFA is one of the most coveted certifications which is meant for professionals looking for a job in CORE finance domains.

The Core Finance domains include Portfolio Management, Valuation, Corporate Finance, Equity Research and Investment Banking.

All the above are also known as High End or Elite Finance Job roles.

CFA Exam Eligibility Requirements

To enroll in the CFA Program and register for your first Level I exam, you must have an international travel passport and one of the following:

  • Undergraduate education: The candidate must have a bachelor’s (or equivalent) degree or be in the final year of your bachelor’s degree program; or
  • Work experience: Four years of professional work experience (does not have to be investment related); or
  • A combination of professional work experience and education that totals at least four years (part-time positions do not qualify, and the four-year total must be accrued prior to enrollment).

Jobs and Careers after CFA

Following are the Major Profiles that you can aim for, after getting the Charter

  • Portfolio Manager – A Portfolio manager would manage and invest the funds of the client (Both individuals or entities) in a way to generate a required rate of return, keeping in mind the risk appetite of the client.
  • Equity Research Analyst – As the name specifies, an Equity research analyst conducts research on Industry specific Equity stocks and determines if they are worth investing in, by projecting their future values.
  • Mergers and Acquisition Analyst – As the name suggests, a Mergers and Acquisition analyst (M&A analyst) plays a role when there is a Merger of two companies, or when there is an acquisition
  • Credit Analyst – As the name specifies, a credit analyst is analyses the credit worthiness of an individual or an organization. In effect, he determines whether to extend credit to a particular entity or not.

CFA Exam Curriculum

Given below is the detailed breakup of the syllabus for CFA Exam, along with weights (Percentage) assigned to each topic.

TopicsLevel ILevel IILevel II
Ethical and Professional Standards15%10-15%10-15%
Quantitative Methods10%5-10%0%
Economics10%5-10%0%
Financial Reporting and Analysis15%10-15%0%
Corporate Finance10%5-10%0%
Portfolio Management6%5-15%40-55%
Equity Investments11%10-15%10-15%
Fixed Income Investments11%10-15%10-15%
Derivatives6%5-10%5-10%
Alternative Investments6%5-10%5-10%
Popular Course in this category
CFA Level I Prep Course Official Prep Provider | 91% Passing Rate | 120+ hours Videos

CFA Exam Dates

ParticularsLevel ILevel IILevel III
December attempt7 December 2020Not ApplicableNot Applicable
June attempt7 June 20206 June 20206 June 2020

CFA Exam Pattern

ParticularsLevel ILevel IILevel III
Format 100% MCQ100% MCQ50% item set, 50% MCQ
No. of question 240 MCQ120 MCQ10 item set 60 MCQ
Topic focus Investment toolsAsset valuationPortfolio management
DurationTwo exams on same day of three hours eachTwo exams on same day of three hours eachTwo exams on same day of three hours each

Exam Center Locations

244  Countires across the globe – Including Major countries such as India, USA, UK, Japan, Australia, Canada etc.

Check out the test locations in your country on the official website of CFA institute

CFA Exam Scholarships

At present, following scholarships are offered by CFA Institute:

  • Access Scholarship: For those who may be unable to afford the full price for the CFA Program enrollment and exam registration.
  • Women’s Scholarship: For women who do not qualify for other scholarships and have not yet registered for their next exam. 
  • Student Scholarship: For students who attend one of our Affiliated Universities.
  • Professor Scholarship: For full-time college or university professor.
  • Regulator Scholarship: For full-time, qualified employees of non-profit entities.
  • Media Scholarship: For full time employees of media organizations.

Salary of a CFA Charterholder  

Salary of a CFA Charterholder Varies across countries, Industries and Designations. The Average Salary of a CFA charterholder in Major countries is as follows – 

  • India – Rs 914K
  • United States – $89K
  • United kingdom – £49,355
  • Singapore – S$98K
  • United Arab Emirates (UAE) – AED 207K

Source : Payscale

Popular Course in this category
CFA Level I Prep Course Official Prep Provider | 91% Passing Rate | 120+ hours Videos

Frequently asked Questions (FAQs) –

What is the Salary of a CFA?

Salary of a CFA Charterholder Varies across countries, Industries and Designations. According to Payscale, the Average Salary of a CFA Charterholder is $89,000 in US and Rs.9,14,000 in India.

What are the Job opportunities after CFA?

The CFA charterholders majorly work in profiles such as Credit Analysis, Equity Research, Mergers and Acquisitions, Portfolio Management etc.

How to get the CFA charter?

A CFA Charter is offered by the CFA Institute to a candidate who has successfully passed all the three levels of CFA exam, and has at least four years of professional investment experience.

What is the fees for CFA exam?

Initial enrollment fees for CFA Exam is $450 USD. The additional fees for each Level of CFA is $700 USD for Early Registration, $1,000 USD for Standard Registration and $1,450 USD for Late Registration.

Financial Modeling – One of the most frequently heard term if you’re either in Finance industry, or you aspire to be a part of it.

Let’s understand, what’s so special about this term?

I’ll take a very basic example so that you can relate it to your everyday life.

Suppose you own a grocery shop, what are the expenses that you incur? They can be cost of purchasing veggies, fruits etc. Also, the shop rent expenses, electricity bills, the store keeper’s salary etc. Note them down.

Likewise, what are the sources of revenue? In this case, revenue is sources from sale of grocery items. As simple as that. Note them down too.

Do this for past 5 years. Find out the trend in revenue growth and the factors responsible for it, after making realistic assumptions. Likewise, find out the trend in cost increase/decrease.

Now, based upon these trends (which are themselves an outcome of your assumptions) project the future expenses and revenue of the company.

This will help you draft a future Profit & Loss Account and Balance sheet of a Company.

What is Financial Modeling?

Financial Modeling is an activity of preparing any company/ entity’s future financials (Statement of Profit & Loss, Balance Sheet, Cash Flow Statements, Schedules, Valuation etc.) through estimation of numbers in MS Excel (Or any other calculation tool). 

Financial Modelling is a number game and is usually prepared through linking various tabs in MS Excel. It is important to separate assumptions (inputs) from the entire model which are used for projection of financials (output). Various models can produce different results based on the inputs and assumptions that go into it.

These future financials are known as financial models. To view a basic financial Model, click the button below.

Types of Financial Models

There are various types of financial models which exist in today’s world. All these are made for different purposes. Some of the major types of financial Models are –

  • Three Statement Model
  • Merger Model
  • DCF (Discounted Cash Flow Model) Model, Sum of Parts Model
  • LBO (Leveraged Buyout Model) Model
  • Initial Public Offering (IPO) Model
  • Consolidation Model
  • Comparable Company Analysis

These models are generally prepared by Financial Analysts and their base salary ranges anywhere between $85,000 to $1,00,000 at an entry level. The demand of Financial Analysts is also rising with the increase in company’s preference on financial models for better management decisions. 

It is in Financial Analyst’s hands to control the numbers or the structuring of the model. He can increase or decrease the Profit or Loss in the model by changing the underlying assumptions.

Popular Course in this category
Certificate in Financial Modeling & Valuations 60+ hours of Videos | 100% Placement Support | Real Life Case Studies

Why Financial Modelling is Important?

The main question is, Why does Financial Modeling even matter to businesses?

Importance of Financial Modelling lies in its usage for various purposes by several growing companies.

Companies prepare a financial model to get private equity funding from investors. They prepare the Financial models to predict the future value of a company, based on which the investor will infuse money and decide the share.

Even investors can prepare the same model. However, they will try to lower down the valuation, by taking different assumptions from those taken by the company.

Let’s see a near exhaustive list of uses of Financial Models

What are the uses of preparing Financial Models?

  • Understanding “Future Operational Performance” of an entity (e.g; number of employees required to hire, number of branches to open, number of quantities to be sold etc.)
  • Understanding “Future Financial Performance” of an entity (e.g; estimation of revenue required to earn, profit margins to generate, costs to spend in future)
  • Estimating the capital expenditure to be incurred in future (e.g; estimation of amount of machinery, furniture and building required)
  • Estimating funds required to fulfill future obligations (e.g; working capital financing, long term or short term financing by way of Private Equity, Public Equity or Debt funding)
  • Calculating cash flows/ free cash flows generated at the end of a given period (e.g; cash flow for operating, investing & financing activities, free cash flows to the firm and free cash flows to equity)
  • Calculating Enterprise Value or Equity Value of a Company (Including Intrinsic Value)
  • Analyzing certain ratios (e.g; profitability ratios, liquidity ratios etc.) 
  • Depicting the trend of a business and relating it with the Industry’s performance (whether a business is depicting an upward growth trend, static growth trend, downward growth trend, no growth trend, negative growth trend)
  • Performing study on multiple scenarios or sensitivity analysis 
  • Other advanced uses (e.g; calculating price of a security, merged financial predictions of two entities, comparable analysis, comparable ratio analysis, comparable valuation analysis, ascertaining exit strategy and Investor’s return during exit etc.)  

Who Prepares Financial Models?

Financial Modelling is widely acceptable and is getting a lot of attraction these days, especially by growing companies, Private Equity Funds, Hedge Funds, Investment Banking Companies, Brokerage Firms, Credit Rating Agencies, Equity or Investment Research Companies, Management or Corporate Consultancy firms etc. 

Let’s see Why do they prepare it –

  • Corporates – for Internal Management Decisions based upon Future Business Performance as predicted in Financial Models.
  • Investment Banking Firms – on the behalf of both their clients and their investors for Company’s Valuation.
  • Equity Research Firms – for publishing the reports on public sources to recommend buying or selling of any security.
  • Management Consultancy, Portfolio Management Firms – for advising their clients on various growth prospects
  • Private Equity Funds, Hedge Funds, Venture Capital Funds – for the calculation of their investment exit return.
  • Transaction Advisory Firms – for their clients to advice them on any transaction such as a merger or an acquisition.
  • Commercial Banks / Non Banking Finance Companies / MFIs – for estimating the performance of their lending portfolio.
  • Financial Due Diligence firms – for judging the accuracy of the valuation and financial models prepared by any other party.
  • Accounting or Chartered Accountancy Firms – for Financial Planning and Budgetingtheir own expenses and revenue.
  • Research and Outsourcing Companies – to outsource project for their clients; client can be a corporate, or an Investor

What are the Best ways to learn Financial Modeling?

DIY, Do it Yourself

The best but lengthy way to learn Financial Modelling is to learn it yourself as nothing is better than self-learning. If you’re extremely good with numbers and have analytical mindset then it is suggested that you should learn preparing models on your own by giving enough time for studying various concepts.

You can choose any sector and pick any listed company in the selected sector and start from industry study, past financials of the company, ratio analysis, management growth strategy and then go on to future projections through assumptions and other schedules. Last step is to dive into valuation part, sensitivity analysis, ratios and graphs depiction.

Take up an online Financial Modeling Course

The much faster way to learn Financial Modeling is to buy any online Financial Modelling and practice. These Modelling Courses will help you in the structuring, fundamentals, linking and formula building of a model. 

Be wise to choose a preferred Financial Modelling course and read the course contents before choosing to buy any online course.

Popular Course in this category
Certificate in Financial Modeling & Valuations 60+ hours of Videos | 100% Placement Support | Real Life Case Studies

Join an Investment Banking (IB) firm at an entry level

The next way to learn Financial Modelling is to join any IB, Equity Research, Consulting or other companies at an entry stage either as an Intern or as a Junior Analyst. 

You will be working on the real world scenarios and live transactions which will require you to build complex models. Your job pressure and superior support will also help you to learn models much faster than required.

Frequently asked questions (FAQs) –

What is Financial Modeling?

Financial Modelling is an activity of preparing any entity’s future financials (Statement of Profit & Loss, Balance Sheet, Cash Flow Statements etc.) through estimation of numbers by taking realistic assumptions

What are the various types of Financial Models?

There are various types of financial models which exist in today’s world scenarios including Three Statement Model, Merger Model, DCF (Discounted Cash Flow Model) Model, Sum of Parts Model, LBO (Leveraged Buyout Model) Model etc.

How to learn Financial Modeling?

You can learn Financial Modeling through Online courses by The Wallstreet School, Udemy, Coursera etc.

What are the Job Prospects after Financial Modeling

A Financial Modeling expert can get Job in Private Equity Funds, Hedge Funds, Investment Banking Companies, Credit Rating Agencies, Equity or Investment Research Companies, Management Consultancy firms etc. 

If you’re looking for Courses and Career options after B.Com, then most probably you’re in the final year of your graduation or you’ve completed it.

We all have a dilemma about the career choices at some point during our graduation. Keeping that in mind, I have tried to make this article as comprehensive as possible.

It’s not just another blog which simply lists down the courses after B.com. Rather, it’s a whole analysis of each course – Who should do it and Why should you do it?

Making an appropriate career choice after B.Com is a BIG Deal. Even a slightest mistake at this point of your career can land you into distress.

To help you decide about the career path, this article lists out different career option with relevant details such as Salaries, Job profiles, Cost and Time Duration of the course.

Job Oriented Certifications

Most of the times when we’re looking for career options, we’re actually interested in the Jobs that we would get if we choose that option. Thus, we will first look at the short term certifications which can fetch you a decent Job even before your Masters, given that you work hard.

Investment Banking Certification

This is the most elite Job profile that you can get just after B.com. It’s related to core finance and not accounts, audit or taxation. If you’ve ever been fascinated by the companies such as Goldman Sachs, JP morgan or HSBC, then let me tell you, this is the most desired profile that they offer.

  • Duration – 1 to 2 Months
  • Estimated Cost – Rs. 50,000
  • Job profiles – Equity research, Business Valuation, Financial modeling
  • Employers – HSBC, EY, KPMG, Mcube, JP Morgan, CRISIL, Moody’s and thousands of boutique investment banking firms.
  • Average Salary – It depends upon your previous work experience, academic background and negotiation skills. Generally, B.com freshers get Rs. 3 to 6 lakh per annum.
  • Best Institute to pursue this course – Honestly speaking, the main criteria for choosing the best in this industry should be ‘Transparency’ of placements. No other institution except The Wallstreet School reveals the past placements. We’ve revealed the real Linkedin and Facebook accounts of around 1,000 previously placed candidates, who have solidified their base in Investment Banking domain on our Placement section. You can do your R&D and get back to us, if you’re interested in this course.
Popular Course in this category
Certificate in Investment Banking 60+ hours of Videos | 100% Placement Support | Real Life Case Studies

Digital Marketing Certification

This is another trending certification that commerce graduates can pursue without any technical skillset as pre-requisite. If you’re fascinated by the terms such as SEO, SMM, SEM or PPC, then you must be knowing by now that they all come under the umbrella of Digital marketing.

  • Duration – 3 to 4 Months
  • Estimated Cost – Rs. 50,000
  • Job profiles – This is the most interesting part pertaining to Digital marketing industry. You work with clients to increase their sales using Social media, Search engines and a bunch of analytical tools
  • Employers – Each and every B2C business that sells products or services online.
  • Average Salary – For a fresh commerce graduate, the salary ranges between 2 to 4 Lakhs.
  • Best Institute to pursue this course – You will find a ton of content over the web to learn Digital Marketing. But I would suggest you to not to go to any particular institute. Rather, you can follow some super knowledgeable Channels such as – Neil Patel, Ankur Aggarwal and Intellectual Indies.

Data Science Certification

Any and every useful result on earth has been derived from Data. For a simple example, Google Maps gives us the real traffic conditions based upon the data that it collects from the GPS activity of the people around. Netflix or Youtube gives us the recommended videos based upon our past behavior, which is based on Data. If you’re fascinated by How they drive such results, then you can go for this certification.

  • Duration – 3 to 4 Months
  • Estimated Cost – 1 to 3 Lakh
  • Job profiles – Business Analyst, Data Analyst, Business Intelligence Analyst
  • Employers – All Major KPO’s, EXL Analytics, Moody’s Analytics, EY, KPMG, PWC etc.
  • Average Salary – 3 to 4 Lakh for a commerce graduate without prior work experience.
  • Best Institute to pursue this course – You can enroll for courses on Udacity or coursera (Trust me, they are best in terms of knowledge). However, if you’re seeking placements, you can go for Great Learning, Edureka, Jigsaw Academy etc.

Professional Courses

The Courses under this subhead will give you a Tag (CA,CFA,FRM) which you can use to deliver professional services independently, or as an employee.

Chartered Accountancy (CA)

Each and every finance graduate in India must have tried pursuing CA, or has a friend who is doing CA. The essence is that there are a large number of candidates appearing for such exam, but the pass percentage is really low. If you’re fascinated about analyzing Financial Statements of a company, you can go for this course.

  • Duration – After Clearing CPT (Entrance), you can give IPCC (Intermediate) after atleast 1 year. Thereafter, you need to go through articleship under a practicing CA for 2.5 years. Finally you can give CA Final examination. Thus, Minimum Duration is 3.5 years.
  • Estimated Cost – 4,00,000
  • Job profiles – Audit, Taxation and Due Diligence
  • Average Salary – 7 to 8 Lakhs

Chartered Financial Analyst (CFA)

It’s the most sought after degree for those who want to make an International career in core Finance. By core Finance, I don’t mean Audit, Taxation or Accounting. It refers to elite profiles that I’ve mentioned in Investment Banking Certification above. It adds to your CV and makes it stand out for the employers. Moreover, CFA is a pre-requisite for many finance jobs as well.

  • Duration – CFA Level I exam is held in june and December. Whereas, CFA Level II and III examinations are held only in June. Thus minimum duration is 1.5 to 2 years, if you clear it in first attempt.
  • Estimated Cost – Enrollment fees is $450 USD. The fees for each Level of CFA ranges from $700 to $1,450 USD.
  • Job profiles – Equity Research, Portfolio Management, Valuation Analyst, Investment Banking etc
  • Average Salary – Rs 616,736 according to Payscale.
  • Recruiters – Major recruiters are Investment Banks and Consulting firms such as HSBC, Goldman Sachs, JP Morgan, Deloitte, PWC, EY, KPMG, Evalueserve etc.
  • Best Institute to prepare for CFA – Trust me, the teaching style and experience of the faculty is the main catch here. You would find many coaching centres . The Wallstreet School is an Official CFA prep provider of the CFA institute. People with absolutely zero or negligible knowledge of finance find our CFA training as a major savior for them 
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CFA Level I Prep Course Official Prep Provider | 91% Passing Rate | 120+ hours Videos

Financial Risk Manager (FRM)

Financial Risk Manager is a designation issued by Global association of Risk Professionals (GARP). People with specific interest in Risk Management shall go for this course. Now, the question is – What exactly is Risk Management. Take an example of a Risk Manager of an Insurance company. The Risk Manager would determine whether or not to extend an insurance cover to a particular asset, person or a business or not. He uses various quantitative tools to arrive at the decision.

  • Duration – You need to clear both FRM Part I and II. The examination is conducted in November and May. So, the minimum duration is 6 Months. Although you can appear for both the Parts one single day, it’s not recommended. Thereafter, the candidate must acquire atleast 2 years of work experience in risk management to get this certification.
  • Estimated Cost – Enrollment fees is $450 USD. The fees for each Level of CFA ranges from $425 to $550 USD.
  • Job profiles – Risk Analyst, Operation Risk officer, Risk consultant, Portfolio Manger etc.
  • Average Salary – It ranges from INR 8,00,000 to 23,00,000 depending upon your position, experience and industry.
  • Recruiters – Recruiters Include Investment Banks, Commercial Banks, Insurance companies and consulting firms such as HSBC, CITI, Goldman Sachs, JP Morgan, Allianz etc.
Popular Course in this category
FRM Level I Prep Course Official Prep Provider | 95% Passing Rate | 100+ hours Videos

Post Graduation

This is the most traditional path that most of the commerce graduates will follow. But, there’s a big, big catch here. Your career after Post Graduation totally depends upon the Reputation and Brand name of the Institute from where you’re pursuing it. Also, you need to be sure as ‘why’ you’re doing it. Following are the options –

MBA (Master in Business Administration)

If you ask any B.com graduate in India about their future plans, they would say ‘MBA’. MBA can give you practical expertise in area of General Management, operations, Finance or marketing. However, almost 3,00,000 candidates appear for MBA entrances every year, out of which 4,000 to 5,000 candidates get admission in top 30 colleges. 

  • Duration – 2 years
  • Estimated Cost – 15 to 25 Lakh
  • Job profiles – It totally depends upon which field have you mastered in – Finance, Marketing, Human Resource or Operations. Also, if your college has a big brand value, you may get a job in core profiles of your domain, otherwise you may end up getting backend or a BPO job.
  • Major Entrance Exams – CAT, GMAT, XAT, SNAP, MICAT, IIFT
  • Average Salary – Again, It totally depends upon the reputation of the college from where you’re doing MBA. However, according to Payscale, average salary after an MBA degree in India is Rs. 6,99,000.
  • Best colleges to pursue MBA –  Top seven IIMs, XLRI, SPJIMR, MDI Gurgaon, SIBM Pune, Indian School of Business (ISB)

M.com (Master of Commerce)

Although not preferred by many, but people keep this as a backup option. But in real sense, it should be done if you’re interested in Academia, University teaching or research. It’s an extended version of B.com. Most of the subjects that you learn have roots in the books that you’ve already studied during Undergrad

  • Duration – 2 years
  • Estimated Cost – 50,000
  • Job profiles – Since there is no value addition in skillset if you pursue M.com, the private job opportunities are almost same as that of a B.com graduate. However, if you clear NET (National Eligibility Test), you can apply for the post of Assistant Professor in commerce colleges.
  • Average Salary – 3 to 6 Lakhs
  • Best Colleges – Delhi School of Economics, Shri Ram College of Commerce, Hindu College.

Government Jobs

Government Jobs are know to be the most safest and steady. Most of the Indian parents want their kids to get a secured government Job so that they can settle early in life. Let’s have a look at the major options available.

SSC CGL (Combined Graduate Level)

Combined graduate level exam conducted by staff selection commission is the most sought after competitive government exam in India. It’s also considered as a backup option by the students preparing for UPSC, and that’s why it’s also called Mini IAS. SSC CGL is conducted to fill groub ‘b’ and group ‘c’ vacancies in various departments and ministries of central government.

  • Eligibility – The candidate must have a Bachelor’s degree. Also, there’s a maximum age limit depending upon the type of the designation or post.
  • Posts and designations– Assistant Section officer, Income tax Inspector, Sub Inspector (CBI), Assistant Audit officer etc
  • Ministries and Departments – CBDT, Central Bureau of Investigation, CAG, Ministry of Railway, Ministry of external affairs etc.
  • Salaries – The starting salary ranges from 30,000 to 60,000 depending upon the type of the post or designation you have got.

To view complete details regarding Salaries, Eligibility, Age limit, you can visit the official website of Staff Selection Commission

IBPS PO (Bank Probationary officer)

It’s a combined entrance exam conducted by Institute of Banking and Personnel Selection to fill Manager Scale I vacancies in 20+ nationalized banks

  • Eligibility – The candidate must hold a Bachelor’s degree from any recognized university. Also, the age of the candidate must be between 21 to 30 years.
  • Posts – Assistant Manager, Deputy Manager Scale I
  • Recruiting Banks – Allahabad Bank, Bank of Baroda, Punjab National Bank, Oriental Bank of Commerce, State Bank of India etc.
  • Job Profile – The work mostly revolves around sanction and processing of loans, customer grievance handling, revenue budgeting etc.
  • Salaries – Rs. 40,000 (Approximately) including basic pay, Dearness Allowance, HRA etc.

To view complete details regarding Salaries, Eligibility, Age limit, you can visit the official website of IBPS

UPSC Civil Services Examination (CSE)

Union Public service commission conducts this examination to fill in the positions of high repute, power and authority in the central government. Around 1 Million students apply for this examination every year for some odd 800-1000 vacancies.

Eligibility – Eligibility – The candidate must hold a bachelor’s degree from a recognized university. Also, the candidate should be atleast 21 years of age and must not have attained the age of 32 years

Designations – Indian Administrative Services, Indian police Services, Indian Revenue Services, Indian Foreign Services etc.

Ministries and Departments – CBDT, Ministry of Railways, Ministry of External Affairs, Home Ministry, Ministry of Finance etc.

Job Profile – All the reputed government designations such as Commissioner of Income Tax, Commissioner of Poilice, District Magistrate, Cabinet Secretary, Additional Secretary.Salary – Starting Salary depends upon the Post and Designation that you’re working on. Total Salary consists of Basic Pay + DA + HRA + TA + other Allowances. To view the complete list of Salaries for various, Designations, click here.

Conclusion

We really hope that this article added to your research of making an appropriate career choice. Ultimately, it’s YOU who has to make the ultimate decision. All the Best!