Published Jul 23, 2025 4 Min Read

CFA vs CPA: Which is Better Option?

In the finance and accounting world, professional certifications significantly impact career growth and credibility. Among the most sought-after credentials are the Chartered Financial Analyst (CFA) and the Certified Public Accountant (CPA). While both are prestigious, they cater to different specialisations and career paths within finance and accounting. Choosing between CFA and CPA is a crucial decision for students and professionals aspiring to excel in finance, investment, or accounting roles. Each certification involves a unique syllabus, exam pattern, and career outcomes. The CFA focuses on investment management, portfolio analysis, and financial markets, whereas the CPA is centered around accounting principles, auditing, tax regulations, and compliance.

Understanding these differences will help you align your career goals with the right certification, making an informed decision that maximizes your professional growth. Let’s explore both certifications in detail to see which suits you best.


What is a CFA?

The Chartered Financial Analyst (CFA) designation is a globally recognized certification offered by the CFA Institute. It is highly regarded in investment management, financial analysis, equity research, portfolio management, and corporate finance.

The CFA program consists of three exam levels—Level 1, Level 2, and Level 3—that cover topics like ethics, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, and portfolio management.

CFA candidates must pass all three exams sequentially, which generally takes 2-4 years, and gain at least four years of relevant work experience to earn the charter. The program is known for its rigor and comprehensive curriculum, designed to prepare finance professionals for analytical and investment-focused roles.


What is a CPA?

The Certified Public Accountant (CPA) is a professional accounting qualification recognized primarily in the United States but respected globally. The CPA credential is administered by the American Institute of Certified Public Accountants (AICPA) and is essential for accounting, auditing, taxation, and compliance roles.

The CPA exam comprises four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Candidates must meet education and experience requirements, which vary by state, to obtain licensure.

CPAs play vital roles in auditing financial statements, preparing taxes, advising on regulatory compliance, and ensuring accurate financial reporting. The qualification is often preferred for careers in accounting firms, corporate accounting departments, tax consultancies, and government agencies.


Differences between CFA and CPA

CriteriaChartered Financial Analyst (CFA)Certified Public Accountant (CPA)
Governing bodyCFA InstituteAmerican Institute of Certified Public Accountants (AICPA)
Core focusInvestment management, portfolio analysis, financial marketsAccounting, auditing, tax, regulatory compliance
Exam structure3 Levels (Level 1, 2, 3)4 Sections (AUD, BEC, FAR, REG)
Exam duration6 hours per level exam, multiple-choice and essay questions4 exams, 4 hours each, multiple-choice and task-based simulations
Average completion time2 to 4 years12 to 18 months (depending on state and preparation)
Work experience requirement4 years relevant work experienceVaries by state, typically 1-2 years supervised experience
Global recognitionHighly recognized globally, especially in investment financePrimarily US-focused but respected internationally
Career pathPortfolio Manager, Investment Analyst, Financial AdvisorAuditor, Tax Consultant, Financial Accountant, Controller
Salary potentialHigh, especially in investment banking and asset managementCompetitive, especially in public accounting firms and corporates
Difficulty levelVery challenging, especially due to broad finance topicsDifficult, but focused on accounting and regulatory knowledge

How to choose between CFA and CPA?

Choosing the right certification depends on your career goals, interests, and location preferences. Here are some pointers to help you decide:

Interest area: If you enjoy investment analysis, portfolio management, and financial markets, CFA is suitable. For a career in accounting, auditing, taxation, and compliance, CPA is ideal.

Geographical focus: CPA is heavily US-centric, with licensure tied to US states. CFA is globally recognized, offering flexibility in international careers.

Career aspirations: Aspiring investment bankers, asset managers, or equity analysts benefit from CFA. Those aiming to become auditors, tax professionals, or controllers often pursue CPA.

Time commitment: CFA exams take longer to clear but offer a comprehensive finance skillset. CPA exams may be completed quicker but require state-specific education and experience criteria.

Work experience: CFA mandates four years of relevant work experience; CPA’s requirements vary by state.

Exam difficulty: Both are challenging; CFA covers a broader finance spectrum, while CPA dives deep into accounting specifics.

 

Which is better: CFA or CPA?

AspectCFACPA
Global recognitionVery highMainly US-focused
Exam contentFinance, Investments, PortfolioAccounting, Auditing, Tax
Career flexibilityHigh, especially in finance rolesHigh in accounting & taxation
Licensing requirementNo state licensingRequired for public accounting
Job market demandGrowing worldwideStrong in US and international
SalaryGenerally higher in finance rolesCompetitive in accounting firms
Study time2-4 years1-2 years
Work experience4 years relevant1-2 years supervised

Conclusion 

Both CFA and CPA certifications hold immense value and prestige in their respective fields. Your decision should be driven by your career interests, geographic preferences, and professional goals. The CFA is ideal for those focused on investments, portfolio management, and global finance roles. On the other hand, the CPA is perfect for individuals aiming for careers in accounting, auditing, taxation, and regulatory compliance, especially within the US market.

For finance professionals who already hold a Chartered Accountant designation or wish to expand their credentials, pursuing CFA or CPA can significantly boost career prospects. Financing options like a CA Loan from Bajaj Finance can help manage costs related to certification fees and study resources. 


 

Frequently asked questions

Which is better, CFA or CPA?

CFA is better for careers in investment, portfolio management, and finance, while CPA suits accounting, auditing, and taxation roles. The better choice depends on your career goals and interests.

Who should pursue CFA vs CPA?

CFA is ideal for finance, investment, and portfolio management careers, while CPA suits those aiming for accounting, auditing, or taxation roles. Choose based on your professional goals and interests.




 

What are the eligibility requirements for CFA and CPA?

CFA requires a bachelor’s degree or final-year enrollment, plus work experience for charter. CPA requires a bachelor’s degree in accounting or related field and 120–150 credit hours, varying by state.

How long does it take to complete CFA vs CPA?

CFA typically takes 2 to 4 years to complete all three levels, depending on exam attempts. CPA usually requires 12 to 18 months, including education, exams, and experience requirements.

Show More Show Less

Bajaj Finserv App for All Your Financial Needs and Goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

·      Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.

·      Explore and apply for co-branded credit cards online.

·      Invest in fixed deposits and mutual funds on the app.

·      Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.

·      Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.

·      Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on easy EMIs.

·      Shop from over 100+ brand partners that offer a diverse range of products and services.

·      Use specialised tools like EMI calculators, SIP Calculators

·      Check your credit score, download loan statements, and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more