AuthorTopic: CFA vs ACCA and other accounting designations, which is more profitable?
DDBB
@2004-10-26 02:37:25
The CFA exam seems more difficult than the ACCA exam and other exams in the accounting profession, but does that mean CFAs earn more than accountants?
kimlee
@2004-10-26 16:44:28
lolz buddy i think u got wrong estimates cleraly . this cfa thing is around analytical skills only no " A/C STANDARDS INVOLVED AT ALL" in these studies just eco,math,MGMT etc , i think no comparison of it with other accounting qualifications at all plus y to limit ur options by doing cfa.

I WILL SAY GOT WRONG VISION
chichika
@2004-10-29 06:57:35
To Kimlee

I think that what DDBB meant to compare was the difficilty of this two exams/certificats:
CFA vs ACCA/CPA.

To my mind, CFA is far more difficult, rare and prstigious.

However, I'm still in doubt. The reason I want to know is that I work at corpfin of B4, managers value CPA and only CPA (it's accounting legacy)and everyone here is striving for CPA.

I'm CFA 2 candidate and think or want to beleive that what I'm doing is more valuable, more challenging. I mean not the benefits but intellectual efforts first of all.

Please someone prove or disprove that.

DDBB
@2004-10-29 09:42:31
Chichika said what I want to say, guys give some comments pls.

We are making an investment when doing CFA, and the first thing we have to consider is the rate of return, intellectual or financial.

kimlee
@2004-10-29 16:31:40
hai chic i think u have seen the truth while working personaLly IN B4, now what other kinda PROOF u wanna c _______

buddies CFA JUST LIMITS U AS COMPARED TO OTHER QUALIFICATIONS , y to do so ? u think again both of u........
chichika
@2004-10-31 22:18:15
Hi Kimlee,
First of all it's not chic... But OK suit youself.

About CFA vs CPA/ACCA.

yes, it is the truth for B4 and I explained why.
That is probably why I don't want to work here.
And while I completely understand the benefites of CPA in B4, my question was more about intellectual/reputational benefits of being a CFA or a candidate.

While managers grin when hear that I'm persuing CFA, others (mostly junior staff) look up at me
If it wasn't for that I would probably be studing for CPA or something and just be like all others in my office.

Besides, there is something more than B4, - investment banks, investment managers, etc.
I hav no doubt that CFA sounds more significantly there.

So, to simply refrase my question:
You have two persons - one CFA and another CPA. 1. Whom do you think is smarter?
2. Whom do you think will be richer in 10 years?
thobile
@2004-11-01 11:36:14
Definetly the one with the CFA will be richer in ten years time. Thats when we are comparing the course contents being used efficiently. In the CFA u learn how to make money and not how to take care of someone elses money by balancing and Auditing someone elses book. Look at it this way, even though Warren Buffet and George Soros may not have the CFA designation but they are using the principles that are taught in the CFA and they are stinking rich.
chichika
@2004-11-01 21:28:19
Thanks thobile
Music to my ears.
What about question 1?
Whom do you think is smarter?
Assumptions are :
Equal background
equal job, title
think of my situation - corpfin B4
rehaaz
@2004-12-22 04:54:22
Comparing a CFA with an ACCA is like comparing an apple with an orange!.... bucks wise, A CFA guy working in the investment business will earn more than an ACCA , being myself an investment manager, i know what iam talking about without being subjective.

Cheers,
svijay1973
@2010-05-24 07:11:13
Folks

I agree with both thobile and rehaaz. I have this to say:

Accounting as a profession is not paying - I have met several partners of CPA firms in US and they barely hit about USD 50 per hour. Now compare that with the latest salary survey of investment managers published and available on the CFA Institute site. There is no comparison. However, like in any profession, lot perhaps also depends on the enterprise and the smartness of the professional, whether CPA or CFA.

Secondly, when chichika says corpfin, i guess he is refering to corporate finance. Doubtless, most management would value accountants more as they need good hands to manage their money. But as thobile pointed out, investment managers create money unlike accountants. So guess people who make light of CFA designation are the ones perhaps seeking self gratification by disdaining something they feel they cant attain themselves.
dennis1
@2015-02-19 15:01:23
hi there everyone,

actually i have just finished my bachelor's degree in business management with a First class grade. now i am thinking to pursue either CFA or ACCA, both being a reputed as well as tough exam... i would like to know which one is better?

also i heard that even if you finish all levels of CFA exam, you wont be able to hold the designation unless you have 3-4 years of work experience in a decision making position. so i was wondering that it is practically impossible to get hold a CFA title unless you have the work experience. this means that even if you have passed all the levels of CFA exam, you cant type in your CV that you hold a CFA designation??and thus you wont get a good job???IS THIS TRUE??

whereas in ACCA, after you pass all the exams you can hold ACCA designation....

please do reply to this question.......i will be very grateful to you all.......

thanking you.

CFA Discussion Topic: CFA vs ACCA and other accounting designations, which is more profitable?

To post a new topic or reply to a topic, please log in or register for a free user account.

I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes

Barnes