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ACCA CFA FRM course comparison chart, finance professionals choosing certification path, career growth options with ACCA CFA and FRM
👤 NorthStar Academy📅 29 Jun, 24⏱ 4 min read

ACCA vs CFA vs FRM: Best Finance Course Compared

You will have to weigh a lot of things based on various parameters before pursuing a finance course. 

ACCA vs. . CFA vs. . FRM: Course Type

The ACCA program is all about accounting and auditing. 

CFA specializes in financial analysis and equity research. You become an expert in investment management. 

FRM is tailored towards risk management. You get hands-on knowledge of financial risks, risk appetite, risk profiles, and their mitigation strategies. 

ACCA vs. . CFA vs. . FRM: Course Duration

ACCA consists of as many as 13 exams plus one professional module. You will need to devote two to three years to emerge as an ACCA certificate holder. 

You have to invest about 3–4 years of study time to study CFA and cross all three levels. 

You need 1–2 years to complete the FRM course. 

ACCA vs. . CFA vs. . FRM: Course Fees

The course fees for all three finance courses depend on various factors, such as:

Registration fees

Exam fees

Coaching fees

Just a small briefing about the fees:

In India, the ACCA course will cost around INR 4 lakhs, and this includes the exam and the coaching fees. 

The standard registration fee for CFA is usually USD 1250. As an early bird, you might get some discounts. This is exclusive of coaching fees. 

FRM program charges are around USD 600 and USD 1000. Plus, you might need to pay coaching fees separately.

ACCA vs. . CFA vs. . FRM: Eligibility

To pursue ACCA, a candidate must be:

At least 18 years 

Possess 10+2 education, 

65% marks in English and Accounts/Mathematics subjects, and 50% in all other subjects at least.

To take up the CFA course and prepare for Level I, you should: 

Hold a bachelor's degree or be in the final year of your program. 

Have non-investment-related work experience of at least 4 years,

A combination of both the above, with a minimum of 4 years in total.

CFA is a relevant certification course in today’s changing business world. You must fulfill the work prerequisites before you enroll. 

For the FRM aspirants, the good news is:

You do not have to satisfy any eligibility criteria to apply for FRM; yes, you read that right!

ACCA vs. . CFA vs. . FRM: Jobs

You can step into public service sectors and banks, secure a place in the Big 4, and explore a lot of other sectors as an ACCA certification holder. Some of the job roles that an ACCA can easily fill are:

CFO

Tax Consultant

Auditor 

Management Accountant 

Finance Manager

Credit Controller 

Forensic Accountant &

Several other job roles 

Once you become a CFA charterholder or cross any one of the levels of this 3-level finance course, you can find jobs at top banking and financial institutions. You can choose from various job roles, such as:

Financial Analyst

Credit Manager 

Equity Research Analyst

Investment Banking Analyst 

Portfolio Manager

M&A Analyst

Financial Advisor 

& the like

With a CFA charter, you can zoom into the investment sphere of the finance industry. 

When you pursue FRM, you specialize in risk management. You can find work at:

Risk Manager 

Market risk analyst

Regulatory Risk Analyst

Credit Risk Manager 

Chief Risk Officer

Operational Risk Manager 

Corporate Risk Director

and many more. 

You can find jobs in banking and treasury in different arenas. If you are interested in risk assessment and quantitative trading, FRM can be your career path. 

ACCA vs. . CFA vs. . FRM: Career Scope

ACCA

There is a broad career scope when you complete ACCA. You can choose from excellent job opportunities and globe-trot to advance your career and earn big with top companies having great job offers for you. There is a higher level of recognition and acknowledgement for this certification worldwide. You become well-groomed and have a good grip on almost all the aspects of finance and accounting that ACCA covers in its vast and updated curriculum. 

Both the private and public sectors would like to employ you and make the most of your practical experience and technical skills. ACCAs are considered global business leaders of tomorrow who can think right, plan strategically, and be armed with professional values and technical competency while driving any organization forward. 

CFA

CFA professionals in India and abroad are sought after in the investment and finance industries. It won’t be wrong to say that the finance sector's investment zone is reshaping itself and getting a facelift. Investors are weighing their assets and want a portfolio that speaks versatility, making way for investment professionals to serve them better. 

Alternative investment is becoming a viable option, and the change in the CFA curriculum in 2024 has also emphasized this. With digital assets becoming mainstream and the dominance of AI, Big Data, and Machine Learning, a CFA no longer typically ventures into portfolio management but can diversify career options and become a specialist in private wealth and the private market. New avenues are opening up, and so is the demand for capable professionals. The CFA curriculum of 2024 has been revamped for the better, with the practical allocation of knowledge hogging the limelight, making you job-ready. 

FRM 

The FRM curriculum makes you a risk specialist in the true sense of the term. This niche course, often considered a short-term course, needs your unflinching commitment to absorb specialized knowledge in risk management techniques and quantitative skills. This helps you excel in specific job roles that you take up after completing FRM. 

With experience, you can become a Risk Manager and supervise the work of risk associates and analysts working with you. There are lots of job positions to fill, and job scopes are only going to increase because every industry requires risk professionals, and rightly so! 

ACCA vs. . CFA vs. . FRM: Salary

ACCA

Once you get the ACCA certification, you can get an annual package of around six to eight lakhs in India. As you gain more expertise and experience, you earn more. Since ACCA can take you to different nations across the globe, one strong determinant of your package depends on which country you are in. Working abroad is synonymous with earning more. 

In the Financial Services sector, the Starting salary can be anywhere between £18k and £25k.

In the Public Sector, the starting salary for an ACCA can be between £15K and £26K. 

CFA

On average, CFA candidates earn varying amounts based on their level of qualification. At Level 1, the average earning is INR 9.8 lakh, while at Level 2, it can be around INR 14 lakh. 

The average salary is INR 20.7 lakh for individuals who have cleared Level 3 and are awaiting their charter. 

Finally, CFA Charterholders who have successfully obtained their charter can earn around INR 45 lakhs. 

FRM 

On average, an FRM professional can earn around INR 3.5 lakhs per annum. This amount increases with increasing experience and skill development.

Conclusion

If you are planning to sit for the ACCA, CFA, or FRM exam, you need the best kind of preparation—the kind that can be guaranteed by a top online training institute, NorthStar Academy. Enroll now and get the best lessons imparted by qualified faculty members who squeeze out the pressure and tension associated with exam preparation. You get the scope to track your progress with the practice exams and revision kits. Access to high-quality content and course materials designed by the educators at NorthStar Academy adds an edge to your preparation. Get guidance and tips from mentors and personalized assistance to overcome your problem areas.

We offer a structured curriculum covering all the important topics and conduct live knowledge-sharing sessions that can be recorded for your benefit. We encourage discussion and participation so that the knowledge-sharing process becomes enriching for you. Make the most of group studies and pocket classrooms, and soak up all that can make you an ace in exam-crushing, irrespective of which finance course you choose. You can reach out to us via WhatsApp. Enrol now! 

Frequently Asked Questions

Is ACCA better than FRM?

The ACCA path is a globally recognized path that allows you to soak up high-income job roles associated with accounting, commercial enterprise, and finance. However, the choice between ACCA and FRM depends on your goals and pursuits.

Which course can give you better recognition—ACCA, CFA, or FRM?

All three programs are great, and these certifications have global recognition. ACCA is the right choice for entry-level or mid-level professionals who want to widen their career horizons and obtain important auditing and accounting skills. 

Is ACCA tougher than CFA?

No. Most aspirants say that CFA is tougher than ACCA. However, there can be better career prospects and opportunities after you complete both. How hard a finance course is depends on how you approach it.