Is CFA better or CA

Canadian Universities Forum (discussion group)

Subject: Is CFA better or CA
Which is better in terms of leading to a rewarding job?
Which is harder, in terms of completion success rates?
Which takes longer to study?
Which lands you more jobs?

(in reply to: Is CFA better or CA)
CFA definitely
(in reply to: Is CFA better or CA)
The CA is the one to get first than you should add the CFA later. Most CEOs have an accounting background becuase an accountant knows exactly how to keep a company in business!
(in reply to: Is CFA better or CA)
Maybe you´re in a different industry than me but I´ve worked for several IT and telco companies and have never seen a CEO with an accounting degree (CFO is a different story). All the CEOs IME had BAs and most MBAs, only one (at an Internet startup back in ´97) had a BSc.

(in reply to: Is CFA better or CA)
CFA = Finance
CA = Accounting

You can say they´re two different fields.
Just like Sales and Marketing, they´re highly related to each other but different kind of stuff.

(in reply to: Is CFA better or CA)
It really depends what you want to do. CFA holders work in many different sectors, but mostly they predominate in asset management and investment banking. In fact, in Canada, holding the CFA designation is practically a prerequisite for working in these fields.

CAs may work in many areas but their main focus is in the big 4 accounting firms. They are the only accountants allowed to do auditing work.

Irregardless, they are both difficult designations to earn. The CFA Institute´s pass rates on its exams is around 50-60%. Also, don´t go into finance if you are averse to working long hours. It is not the field for you if you can´t sideline other things in your life.

The truth (in reply to: Is CFA better or CA)

I am a CFA and a CA. And the only thing I can say, is that I know people that make more money and they have no designations.

Life is about your personnality,the way you talk to people and how you sell your self. Its the only factor that will determine your success.

But just for the curious people, the CA exam was the toughest exam I ever did. CFA pass rates are low because anybody with a bachelor can show up for that exam. For the CA, I had to do the CA degree at university and have minimum 3.2/4.3 (4 and a half years). On top of that all candidates had experience.
So the best students of the bachelor degree study day and night for one exam ,complete so many university classes of master levels and some still fail.

But the truth of the matter is that I made more money with the CFA. Life sometimes is weired, but if I had to start all over again I would only do the CFA and make my money.

The only advantage of CA´S is that they understand business like no others, Only an MBA from MIT or harvard can compare to the CA knowledge.

But like a said, I am portfolio manager and I dont use anymore my CA designation. I strongly recommend you guys to stop waisting your time typing messages and figure out what you really want in life and do it. Nothing is hard when you have passion for it. Its not like we are asking you to write a thesis to win the nobel prize. You are just studying material to answer little questions written from other small people.

Take care guys! Hope you all make money!

Jimmy, CA CFA
(in reply to: Is CFA better or CA)
There is no doubt the CA designation is harder to obtain than the CFA. I´m a CA student from Ontario, and over here we´re required to write three exams in the process to qualify as a CA (I say qualify because you still have to do your 30 months of work experience to be a CA despite the fact you´ve past your exams). The first time pass rate to get through all three exams is around 40-50%. Keep in mind we are required to work and study (though most firms do give you a reasonable amount of time off to help you out). The first year as a CA student is VERY rough - juggling long audit hours and long study hours, not to mention sustaining a social life.

Truly the best and brightest students from around the country pursue the CA. Everyone at my firm has been on the dean´s honour roll at least one year throughout their undergrad. Many of you are probably saying, "so what? you need more than book smarts to succeed." Every CA student I know is a great "people person". In fact, all the firms go out of their way to find people who are not only great minds, but have great social skills too. Another reason why the CA is such a prestigious designation.

In booming economies like Dubai, if you look at the jobs that are in demand, persons holding a CA designation are highly regarded. I don´t know this for a fact but based on what I´ve seen there´s overwhelmingly more positions for CAs than CFAs.

I work in the financial services sector in my firm and I´m very interested in the CFA designation, mainly because I´m interested in getting into portfolio/mutual fund management. That said, I can honestly say that there are more job prospects as a CA than CFA. The CA opens up much more doors for you than a CFA designation ever will. Just scanning through a job site like will give you that impression. Many of my colleagues at my firm who have just qualified as CAs have head hunters constantly calling them for some very interesting jobs. One colleague got an offer from a private equity firm in Toronto for an undisclosed amount in the six figures. He´s 27.

For those contemplating the two, get your CA first! Weigh your options after getting your CA (believe me, you´ll have many more with a CA than any other designation).

CFAv/sCA (in reply to: Is CFA better or CA)

I am a CA student doing a minor in Finance. I was planning on writing the first CFA exam in JUne 2008 but later in backed out because at this point I think I shall just focus on one thing. I am currently working at a CA firm and I believe getting my CA FIRST is a better option.

I have met many many students, grads, and representatives from firms during my entire academic career.

People, mostly students always talk about acquring multiple designations but let me tell you nothing is easy. I believe in Canada if you want to be successful you have to be a PRO at whatever you are doing. HEnce, I came to a conclusion that I shall master the CA skills first, pass my exams, get the designation and then go for teh CFA.

Mixing the 2 at this age is probably not a good idea. I am only 22 and probably 15 months away from writing the UFE. KNowling what you are doing inside out is very important at the professional level. Hence, one step at a time for me. Let me know what you guys think. Cheers

HAHAHA (in reply to: Is CFA better or CA)
I heard that there are lots of bank teller postings. I rarely sees an posting for Quant? Why because those require people with Phd in Math or Physics. Just because there are tons of postings doesn´t mean it is a great profession to go into. CFA is the way to go
ca or cfa (in reply to: Is CFA better or CA)
currently im looking for CFA in December 2008, i have IT back ground, i just want to ask whether CFA is good for me or i go for oracle financials
Mazahir Abbas
CFA (in reply to: Is CFA better or CA)
I am a first class degree holder in computer science, however I enjoy finance...CFA is a expensive option but a good option to deepen my understanding....Ultimately I want to get into investment Banking, Trading. Does any1 know from experience what would be the best certifications for this in order...
Thank You for your time..

Gurlal Singh Hanspal

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