Mumbai: India Inc is lapping up Chartered Financial Analysts like never before.
In December this year, more than 3,500 people will take the Chartered Financial Analyst (CFA) exam.
Considering in 2001 India had all but 25 CFAs, there is a scramble to become one.
A booming economy, and a booming stock market has meant a 131 per cent increase in students who are taking the CFA exam this year. Currently, there are only 262 qualified CFAs in India.
"There is a lot of demand for CFA holders. This is because there are a large number of foreign companies coming to India and a lot of Indian companies going abroad," said CFA Institute Representative Sunil Singhania.
The CFA Institute in the US awards candidates the charter. Aspirants must pass three examinations that test them on subjects such as debt, equity, corporate finance and risk management.
And that throws open several areas of work such as investment banks, mutual funds, insurers and other finance companies.
To acquire a charter, an aspirant must have been working in a finance-related job for at least three years. And experts say a charter holder then can look forward to a salary increase of at least 30 per cent. And that's what's pushing so many to take CFA tests.