CPA vs CFA: Which One Should You Choose?

CPA vs CFA: Overview

The CPA (Certified Public Accountant) and CFA (Chartered Financial Analyst) are two of the most sought-after certifications in their field. While they share some common ground, each serves a distinct purpose and targets different career stages.

CPA (Certified Public Accountant) is a widely recognized credential in its field. It is the premier accounting credential in the United States, required for public accounting practice and highly valued across all areas of finance and business.

CFA (Chartered Financial Analyst) serves a complementary but distinct purpose. It is considered the gold standard for investment analysis and portfolio management, requiring passage of three rigorous exam levels over multiple years.

Understanding the differences between these two certifications is essential for making an informed career decision. Let's examine each aspect in detail, from exam structure and difficulty to long-term earning potential. CPA Practice Test and CFA Practice Test are both available on our platform to help you prepare for whichever path you choose.

Difficulty Comparison: CPA vs CFA

When comparing difficulty, the CPA is rated very hard while the CFA is considered very hard. This difference reflects the depth and breadth of knowledge each exam tests.

The CPA exam consists of 62–76 per section questions with a passing score of 75 per section. Candidates typically need 12–18 months study of dedicated preparation to feel confident on exam day.

The CFA exam features 180 (Level I), 88 items (Level II), essay + item sets (Level III) questions with a passing threshold of Varies (historically ~45% per level). Most candidates invest 300+ hours per level (3 levels) in preparation, though this can vary based on prior experience and study habits.

Both exams reward consistent, structured study. Practice tests are particularly valuable for building familiarity with question formats and identifying knowledge gaps before test day.

Salary and Career Outlook

Career earnings are a major factor when choosing between certifications. CPA holders can expect to earn $70,000–$120,000 annually, while CFA credential holders typically earn $80,000–$150,000.

These figures represent national averages and can vary significantly based on location, years of experience, industry sector, and additional certifications held. Metropolitan areas and specialized roles often command premium salaries.

Beyond base salary, consider the long-term career trajectory. Some certifications open doors to management roles, specialized positions, or consulting opportunities that can significantly increase earning potential over time.

Prerequisites and Requirements

CPA Prerequisites:

• 150 credit hours of education (most states)
• Exam fee: $1,000–$3,000 total (4 sections)
• Renewal: Annual (CPE requirements vary by state)

CFA Prerequisites:

• Bachelor degree or 4 years work experience
• Exam fee: $2,300–$3,450 per level
• Renewal: Annual dues + ethics attestation

Be sure to verify the most current requirements with the official certifying body, as prerequisites can change. Some organizations offer waivers or alternative pathways for candidates with significant work experience.

Which Should You Take First?

The choice between CPA and CFA depends on your career goals rather than a natural progression. Both certifications have similar difficulty levels but serve different professional paths.

Choose CPA if your career goals align more closely with certified public accountant. Choose CFA if you are targeting roles that value chartered financial analyst expertise.

Some professionals pursue both certifications to maximize their career options. In that case, start with whichever aligns with your immediate job requirements or the one your employer values most.

Prepare With Free Practice Tests

No matter which certification you choose, thorough preparation is the key to passing on your first attempt. Practice tests help you identify weak areas, build confidence, and get familiar with the exam format.

We offer comprehensive practice tests for both certifications:

• CPA Practice Test — Full-length practice questions with detailed explanations covering all exam domains
• CFA Practice Test — Realistic mock exams designed to simulate the actual test experience

Each practice test includes detailed answer explanations and hints to guide your study. Track your progress over multiple attempts to ensure you are fully prepared on exam day.