CFA Level II – Chartered Financial Analyst vs CMA – Certified Management Accountant vs ACCA – Association of Chartered Certified Accountants
| Factor | ✅ CFA Level II – Chartered Financial Analyst | CMA – Certified Management Accountant | ACCA – Association of Chartered Certified Accountants |
|---|---|---|---|
| Vendor | CFA Institute | IMA | ACCA |
| Level | Intermediate | Intermediate | Intermediate |
| Exam Cost | $940–$1,250 | $415–$830 | £89–£143/paper |
| Pass Rate | 45% | 45% | ~50% |
| Avg Salary | $100K–$150K | $85K–$130K | £40K–£80K |
| Difficulty |
Very Hard
★★★★★
|
Very Hard
★★★★★
|
Hard
★★★★☆
|
| Best For | Professionals who passed CFA Level I, targeting analyst or fund management roles. | Accountants and finance professionals in corporate finance, FP&A, and management… | Finance and accounting professionals seeking global recognition, especially outs… |
| Expiry | Typically 3 years — renewal at cfainstitute.org | Check imanet.org | Check accaglobal.com |
| Full Guide | View guide → | View guide → | View guide → |
Which Should You Choose?
The right certification depends on your current role, target employer, geography, and the specific skills gap you're trying to close. Here's a practical breakdown:
✅ Choose CFA Level II – Chartered Financial Analyst if…
You're targeting roles at organisations that specifically require CFA Institute credentials, or you're already working within the CFA Institute ecosystem. The CFA Level II – Chartered Financial Analyst carries the strongest recognition among CFA Institute customers and partners, and its salary premium of $100K–$150K is well-documented in the job market.
Full Guide →Consider CMA – Certified Management Accountant if…
You're targeting organisations in the IMA ecosystem, or the CMA – Certified Management Accountant is more commonly required in your target industry or geography. Salary data: $85K–$130K. The leading credential for management accountants and financial managers. Issued by IMA (imanet.org)…
Full Guide →Consider ACCA – Association of Chartered Certified Accountants if…
You're targeting organisations in the ACCA ecosystem, or the ACCA – Association of Chartered Certified Accountants is more commonly required in your target industry or geography. Salary data: £40K–£80K. A globally recognized accountancy qualification accepted in 180+ countries. Issued by ACCA (accaglob…
Full Guide →Detailed Analysis — CFA Level II – Chartered Financial Analyst
Strengths
- ✓Issued by CFA Institute — one of the most trusted credential authorities in Finance & Accounting
- ✓Salary premium of $100K–$150K documented across multiple independent sources
- ✓Exam fee of $940–$1,250 — strong ROI relative to salary gain
- ✓Global recognition at enterprise employers, government agencies, and consulting firms
- ✓Covers 6 core domains including: Equity Valuation, Fixed Income Analysis, Alternative Investments
Considerations
- ◆Pass rate is approximately 45% — structured preparation is essential, not optional
- ◆Mid-level — assumes foundational domain knowledge
- ◆Renewal required — check current requirements at cfainstitute.org
Made your decision? Start your preparation today.
CFA Level II – Chartered Financial Analyst Full Guide → Study Roadmap → Salary Data →