If you are aiming to advance your career in the competitive finance industry in Canada, obtaining relevant certifications and experience can help. Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) are two of the most recognized finance credentials that can impact your career.
Deciding between CFA and CPA can be tricky, as they both offer unique advantages and align with specific career goals.
This blog aims to guide you in making the right decision by comparing the key differences between CFA and CPA, determining which one aligns best with your career aspirations, and explaining how upGrad can assist you on this journey.
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Comparing CFA vs CPA Credentials for Finance Professionals in Canada
It is essential to understand the career goals and industry expectations of both Certified Financial Analysts (CFAs) and Certified Public Accountants (CPAs) to make an informed decision. Both designations handle specific niches within the Finance industry. The table below highlights the comparison between CFA and CPA roles.
| Features | CFA | CPA |
| Focus area | Investment analysis
Portfolio management |
Auditing
Taxation |
| Governing body | CFA Global Institute | CPA Canada |
| Education requirements | Three-part CFA exam
Bachelor’s degree |
Four-part CPA exam
Bachelor’s degree 150 hours of schooling |
| Course fee | CAD 4,813 (approx) | CAD 14,000 (approx) |
| Job roles | Investment Banker
Portfolio Manager |
Auditor
Tax advisor |
Source: Official CFA and CPA Websites
Who is a CFA?
A CFA helps with wealth management and financial planning for an organization. Private equity firms and investment firms hire them to analyze targets and assess risks, enabling informed financial decisions.
Who is a CPA?
A CPA assists in the auditing and taxation-related tasks of an organization. They offer expert advice on ways to reduce taxes and increase profits.
Key Differences Between a CFA and a CPA
Finance and Accounting are similar, but they have some differences. Some of the key differences between a CFA and a CPA are outlined below:
Salary & Job Opportunities for CFA vs CPA in Canada
Some of the key job roles available after completing a CFA course include:
- Wealth Manager
- Consultant
- Investment Banker
The average annual salary of a CFA in Canada is approximately CAD 85,000.
CPA, on the other hand, is more suited to apply for the following roles upon course completion:
- Financial Manager
- Accountant
- Chief Financial Officer (CFO)
The average annual salary of a CPA in Canada is estimated at around CAD 72,612.
Note that the salaries for both CPAs and CFAs may vary depending on factors such as job profile, organization, location, skill sets, years of experience, and others.
Source: Payscale
Also Read: Top 10 Highest Paying Jobs in Canada for 2025
Which Credential Suits Your Career Goals?
There is no straightforward answer to the question, ‘CPA or CFA: Which is better?’ You would need to self-assess how you envision your future in a few years. It should ideally be something that still excites you.
If a career in Auditing and Accounting interests you, then a CPA is the best choice. However, if you are more inclined to a career in Asset Management or Financial Planning, then you should opt for a CFA.
Also Read: Top Highest-Paying Companies in Canada for Freshers and Professionals
Why Finance Professionals in Canada Pursue CFA or CPA?
Finance professionals in Canada pursue a CFA or CPA certification to make a career leap in the Finance sector. Some of the reasons that motivate professionals to pursue these courses are:
- CPA and CFA designations add credibility to your skills and expertise in their respective niches.
- They provide global networking opportunities with experts in the same field.
- They offer the chance to earn a good salary with specialized skills.
upGrad’s Finance Programs to Help You Achieve CFA or CPA Success
upGrad is one of the leading online educational platforms, offering a diverse range of courses for all. If you want to achieve success in the CPA or CFA exams, pursue the Finance course on our platform to help gain the basic knowledge of the industry.
A Master of Science in International Accounting and Finance from O.P. Jindal Global University (JGU) is a 12-month course offered on upGrad. JGU has been ranked as India’s #1 private university by QS World University Rankings consecutively in 2021, 2022, and 2023. Some of the unique features of this program are:
- Hands-on experience with tools that support financial analysis, reporting, auditing, and strategic decision-making.
- More than 120 hours of live sessions.
- More than 150 hours of recorded sessions.
- Association of Chartered Certified Accountants (ACCA) accreditation.
- Dual credentials in Finance and Accounting.
- Course fees CAD 4,395 (approx).
- The highest number of ACCA paper exemptions.
- Earn a PwC Academy Financial Analytics certification.
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FAQs On CFA vs CPA: Which Finance Credential Is Better in Canada?
Q: What is the difference between a CFA and a CPA?
Ans: CFA is a Finance credential that helps in tackling investments and assessing risks for firms.
A CPA is an Accounting credential that helps manage auditing and taxation for an organization.
Q: What are the eligibility requirements for CFA and CPA?
Ans: The eligibility requirements of a CFA are completion of a Bachelor’s degree and clearance of the CFA exam. For a CPA, applicants must have completed their Bachelor’s and the CPA exam.
Q: Which credential is better for investment banking in Canada?
Ans: If you want to make a career in investment banking in Canada, you should aim for the CFA exam. It is specifically designed to equip professionals with skills in investment banking, investment management, and other relevant domains in the financial sector.
Q: How long does it take to complete a CFA and a CPA?
Ans: CFA and CPA courses can generally be completed in 2-4 years, depending on the time required to clear each level. However, this duration may vary for different applicants.
Q: Does upGrad offer courses to prepare for the CFA or CPA exams?
Ans: Yes, upGrad offers some free courses that may be beneficial in preparing for the CFA or CPA exam. We also offer mock tests and provide foundational knowledge through our courses.
