Oh Hey! I get so many questions regarding accounting and finance careers. My goal is to cover more than the CPA on this platform. In today’s video I will be doing an overview of the CFA credential as compared to the CPA license. There is not one credential that is better than the other as these are quite different. The CFA is a Chartered Financial Analyst and a highly respected title in the finance space. The CPA is a Certified Public Accountant and it is the highest credential you can hold in accounting.
While accounting and finance are not mutually exclusive, they are also pretty different. Someone seeking a career in finance may lean more towards the CFA than the CPA. The CFA process can take about three years to complete, costs roughly $4,500, and has an average pass rate of less than 50%. The CPA license can be done in as little as one year, cost around $3,500, and has an average pass rate of 50%. There is certainly no rule that says you cannot be both a CFA and a CPA. However, each exam will focus on different curriculum and lead to varying career paths. I hope that this video is helpful in providing clarity and a comparison between the CFA and the CPA.