MBA + CFA Salary in India 2025: Average Pay, Top Recruiters & Job Roles

MBA + CFA Salary in India 2025: Average Pay, Top Recruiters & Job Roles

Team Careers360Updated on 15 Jul 2025, 04:23 PM IST

The average MBA + CFA salary in India 2025 for a fresher is Rs. 15-25 LPA. While, professionals with experience of 5-10 years can earn an MBA+ CFA salary up to Rs. 40-60+ LPA. Some of the top recruiters offering high MBA+CFA salary packages are JP Morgan, Goldman Sachs and McKinsey, etc. The MBA+CFA combination is growing in India for targeting high-paying finance jobs. If you are looking to work in positions such as portfolio manager, risk analyst or CFO, the potential for MBA CFA salary is worth the shot. Read more to understand MBA + CFA salary range, top companies, work positions and career advantages.

LiveIIM CAT 2025 Result (OUT) LIVE: MBA admission criteria for IIMs; CAT score weightage, cut-offsDec 26, 2025 | 11:01 PM IST

IIM Kozhikode will retain its three-stage admission process for the MBA (PGP) 2026–28 batch, with CAT 2025 scores carrying a final weightage of 35 percent. The minimum overall CAT cut-off for general category candidates remains at 85 percentile, with sectional qualifying scores required in VARC, DILR, and QA. Shortlisting of candidates will be based on CAT performance, academic record, and personal interview rounds.

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This Story also Contains

  1. MBA + CFA Salary in India 2025: Top Companies in India
  2. MBA + CFA Salary in India 2025: Overview
  3. MBA+CFA Salary in India 2025 (CFA Level-wise)
  4. Highest Paying MBA + CFA Roles in India
  5. MBA + CFA Salary in India 2025 Breakdown: Other Factors
  6. Top 5 Indian Institutes Offering MBA + CFA Course
  7. What is MBA + CFA?
MBA + CFA Salary in India 2025: Average Pay, Top Recruiters & Job Roles
MBA + CFA Salary in India 2025: Average Pay, Top Recruiters & Job Roles

MBA + CFA Salary in India 2025: Top Companies in India

The following table suggests the top finance companies offering high MBA + CFA salaries in India.

List of Top Recruiters for MBA+CFA Roles

Average Starting Salary (Approx.)

Goldman Sachs

Rs. 3 Lacs- Rs. 8 Lacs

JP Morgan

Rs. 7 Lacs- Rs. 12 Lacs

Morgan and Stanley

Rs. 5 Lacs- Rs. 18 Lacs

HSBC

Rs. 3 Lacs- Rs. 12 Lacs

Credit Suisse

Rs. 7 Lacs- Rs. 12 Lacs

Source: Glassdoor

MBA + CFA Salary in India 2025: Overview

An MBA + CFA qualification can surely increase your earning potential across all career stages. The mentioned table below shows the level-wise Average MBA + CFA salary in India:

Particulars

MBA+CFA Salary Figures (Approx.)

MBA+CFA Average Annual Salary

Rs. 10 Lacs to Rs. 20 LPA

MBA+CFA Fresher’s Salary

Rs. 7 Lacs to Rs. 16 LPA

MBA+CFA Entry-Level Salary

Rs. 3 Lacs to Rs. 15 LPA

MBA+CFA Mid-Level Salary

Rs. 8 Lacs to Rs. 20 LPA

MBA+CFA Senior-Level Salary

Rs. 26 Lacs to Rs. 50+ LPA

Charterholder Average Salary

Rs. 2 Lacs to Rs. 18 LPA

Source: AmbitionBox

MBA+CFA Salary in India 2025 (CFA Level-wise)

MBA + CFA salary in India varies depending on the CFA level and years of experience. This qualification serves the highest level of pay grade in India. The following table highlights estimated salaries at each CFA level and professional roles:

CFA Level

Experience Level

Average Salary

(in INR)

Top Salary Range (in INR)

Popular Roles

CFA Level 1


0-2 Years

4 LPA-6 LPA

6 LPA-10LPA

  • Research Analyst (Entry level)

  • Junior Financial Analyst

3-5 Years

8 LPA-15 LPA

12 LPA-18 LPA

  • Research Analyst

  • Financial Analyst

CFA Level 2

0-2 Years

6 LPA-10 LPA

8 LPA-12 LPA

Equity Research Analyst

3-5 Years

12 LPA-25 LPA

25 LPA

Portfolio Analyst

6-10 Years

15 LPA-30 LPA

30 LPA+

Corporate Finance Professional

CFA Level 3/Charterholder

3-5 Years

12 LPA-25+LPA

15 LPA-30 LPA

Portfolio Manager

6-10 Years

25 LPA-40+LPA

40+ LPA

Investment Banker

10+ Years

30 LPA-60+LPA

80+ LPA

Chief Investment Officer (CIO)

Source: Glassdoor

Highest Paying MBA + CFA Roles in India

Take a brief look at popular MBA with CFA job roles and MBA + CFA salary in India 2025 mentioned in the table.

MBA+ CFA Job Profiles

MBA+CFA Job Salary in India (Approx.)

Equity Research Analyst

Rs. 2 LPA to Rs. 20 LPA

Financial Analyst

Rs. 2 LPA to Rs. 18 LPA

Equity Advisor

Rs. 3 LPA to Rs. 8 LPA

Portfolio Manager

Rs. 4 LPA to Rs. 40 LPA

Risk Manager

Rs. 4 LPA to Rs. 15+ LPA

Investment Banker

Rs. 3 LPA to Rs. 60+ LPA

Source: AmbitionBox

MBA + CFA Salary in India 2025 Breakdown: Other Factors

Let’s analyse the factors that determine the overall salary increase for MBA+CFA professionals.

Factors Affecting MBA+CFA Salary in India

Key Details

MBA+CFA Salary Range

Location

  • Tier-3 cities offer fewer roles and lower salaries.

  • Urban centres such as Mumbai, Delhi and Bangalore provide greater jobs and higher income in global firms and banks.

  • Tier-3 Cities:

Rs. 6-12 LPA


  • Metropolitan City:

Rs. 12-50+ LPA

Industry

  • Industries like investment banking, asset management and consulting pay the highest.

  • Fintech, corporate finance, and insurance also offer good roles, but with lower entry-level salaries.

  • High-paying industries:

Rs. 20-40 LPA


  • Other industries:

Rs. 10-20 LPA

Experience

  • More experience is directly linked to higher pay.

  • Senior roles earn the most. (8+ years of experience)

  • Level 1: Rs. 7-15 LPA

  • Level 2: Rs. 20-30 LPA

  • Level 3: Rs. 50+ LPA

Qualification

  • A top-tier MBA combined with CFA Level 2 increases the chances of high-paying jobs in top firms.

  • In India, a full CFA+MBA is preferred for a high-responsibility role.

  • MBA+CFA Level 2 salary:

Rs. 10-15 LPA


  • MBA+Full CFA salary:

Rs. 25 to 50+ LPA

Top 5 Indian Institutes Offering MBA + CFA Course

There is no official MBA + CFA programme in India as CFA is a certification course and not a degree. Students aiming to pursue CFA Level 1 alongside an MBA can consider the following institutes offering finance programmes covering the CFA syllabus:

Top Indian MBA (Finance) programmes aligned with CFA Level 1

Approx. Fees (in INR)

IIM Ranchi- MBA (Finance)

19.20 Lakhs

IIM Kozhikode- PGP (Finance)

20.50 Lakhs

FLAME University- MBA (Finance)

16-20 Lakhs

IIM Vishakhapatnam- MBA (Finance)

18-22 Lakhs

ICoFP (University of Mysore)- MBA in Financial Analysis

7-10 Lakhs

What is MBA + CFA?

The MBA+ CFA combination enhances both business and financial knowledge. Upon merging these two skills, MBA+CFA is unique and valuable in the present finance industry. Through an MBA degree, one develops leadership and management skills, while the CFA focuses on financial analysis, banking and ethics, making it ideal for roles in investment banking, portfolio management, corporate finance and financial consulting. This qualification gives both technical and practical skills depending on years of experience and industry type.

Frequently Asked Questions (FAQs)

Q: Is CFA worth it after an MBA in India?
A:

Yes, this combination helps you target high-paying roles in top finance companies and can help you achieve long-term career goals by opening a wider range of opportunities.

Q: What is the salary of a CFA with an MBA?
A:

On average, professionals with both earn Rs. 15 to Rs. 50+ LPA, depending on experience, job role, and company.

Q: Who earns more, a CFA or an MBA in India?
A:

MBAs from top B-schools usually start higher, but over time, a CFA + MBA qualification tends to earn more due to broader career options and credibility.

Q: What is the salary of a CFA at JP Morgan India?
A:

It varies by role, but generally ranges from Rs. 12 to Rs. 30+ LPA, and more for experienced CFA charter holders in investment roles.

Q: What is the MBA with CFA Level 1 salary in India?
A:

Freshers with CFA Level 1 and an MBA can expect Rs. 7 to Rs. 15 LPA, with higher packages in metros or top finance firms.

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Questions related to CAT

On Question asked by student community

Have a question related to CAT ?

Hello aspirant,

You have a strong chance of getting into new/baby IIMs, mid-tier IIMs, and many other top MBA schools, but you are unlikely to get into top IIMs with a 94.3 percentile in CAT 2025 because their general cutoffs are 98–99+ percentile. I suggest you to use our CAT college predictor to get better idea:

https://bschool.careers360.com/cat-college-predictor?utm_source=cat_cp&utm_medium=GoogleAds&utm_campaign=2711&gad_source=1&gad_campaignid=23307111065&gbraid=0AAAAADvfvKHKjs-CHQdy0VrhxYOTnau5c&gclid=CjwKCAiA3rPKBhBZEiwAhPNFQMRoWS17nrJJFmvjqNa2E4UzNGb9VdB8dKpTrnOeVkLTcMDJ7S5QSBoCkgsQAvD_BwE

Thank you

With a CAT 2025 percentile of 86.5, BBA graduation score of 67%, and 10th marks of 76%, you meet most of the basic academic requirements for MBA admission at Nirma University. However, Class 12 marks are an important factor to consider in your case.

Nirma University’s Institute of Management usually specifies a minimum eligibility of 50% aggregate in Class 10, Class 12, and graduation for general category candidates (45% for reserved categories). Since you have scored 48% in Class 12, you are slightly below the usual minimum requirement. This means that, strictly speaking, you may face eligibility issues at the application or shortlisting stage.

That said, Nirma University follows a composite score–based shortlisting process. CAT score, academic profile, work experience (if any), diversity factors, and performance in PI are all considered together. In some admission cycles, candidates marginally below the Class 12 cutoff have still been allowed to participate in the selection process, especially if their CAT percentile and interview performance were strong.

However, you should be realistic. A low Class 12 score does weaken your profile and cannot be fully “compensated” by CAT score alone. The PI performance can help improve your chances only if you clear the basic eligibility criteria set by the institute for that particular year. Final admission depends on institute-level scrutiny of documents.

What you should do:

  • Carefully check the latest Nirma MBA admission brochure for the exact Class 12 eligibility clause.

  • Apply if you meet the minimum eligibility or if the institute allows provisional consideration.

  • Prepare very well for the PI to justify academic improvement from Class 12 to graduation.

  • Keep backup MBA colleges that accept 85–90 percentile and have more flexible academic criteria.

In summary, admission to Nirma University is possible but uncertain due to your Class 12 marks. Your CAT score and PI can strengthen your case, but they may not completely override the minimum eligibility requirement.

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Yes, with an 89 percentile in CAT, your daughter has a good chance of securing admission in several reputed MBA colleges in India, though top IIMs may be difficult unless she has strong academic diversity, category reservation, or exceptional profile factors. At this percentile range, many well-known Tier-2 and upper Tier-3 management institutes consider candidates for their flagship MBA/PGDM programs.

Institutes such as IMI New Delhi, IMT Hyderabad, XIMB HRM, GIM Goa (certain programs), FORE School of Management, LBSIM Delhi, TAPMI Manipal (borderline), IFMR GSB, Great Lakes (PGDM) and several reputed university MBA programs actively shortlist candidates around the 85–90 percentile range. Final selection does not depend on CAT score alone; academic background, work experience, diversity, performance in GD/PI/WAT also play a significant role.

To maximise chances, she should apply to a balanced mix of colleges, prepare well for interviews, and highlight strengths such as internships, certifications, leadership roles, or work experience. If her profile is average and she aims for higher-ranked institutes, she may also consider repeating CAT with focused preparation to push her percentile above 95.

With an overall CAT percentile of around 80 and belonging to the NC-OBC category, you do have a reasonable set of MBA college options in India, including some IITs, though the older IIMs and top IIT MBA programs will be difficult at this score.

Among the IITs, you can realistically look at newer and mid-tier MBA programs. IIT Jodhpur (MBA), IIT Bhilai, IIT Jammu, and IIT Dharwad have historically considered candidates in the 75–85 percentile range under reserved categories like NC-OBC. These institutes usually evaluate candidates on a composite score that includes CAT performance, academic background, work experience (if any), and interview performance. However, IIT Bombay, Delhi, Madras, Kharagpur, Kanpur, and Roorkee typically require much higher CAT percentiles even for reserved categories, so the chances there are quite low at 80 percentile.

Apart from IITs, several good government and semi-government institutions can be strong options. NIT Trichy (DOMS), NIT Warangal (SOM), NIT Calicut (SOM), and NIT Durgapur are worth applying to, as NITs often have relatively lower cutoffs for NC-OBC candidates compared to IIMs. Central universities such as Jamia Millia Islamia, Aligarh Muslim University, University of Hyderabad, and Delhi School of Management (DTU) can also be considered, subject to their sectional cutoffs and your academic profile.

In the private B-school space, there are multiple reputed institutes where an 80 percentile with NC-OBC reservation offers a fair chance. These include IMT Nagpur and IMT Hyderabad, GIM Goa (for some programs), TAPMI Manipal, FORE School of Management, K J Somaiya Mumbai, BIMTECH Greater Noida, IRMA Anand (profile dependent), and IFMR GSB at Krea University. At these institutes, interview performance, SOP quality, and overall profile play a major role in final selection.

Overall, it is advisable to apply broadly and not rely on a single institute. Focus on newer IITs, NITs, and well-established private B-schools, and prepare thoroughly for the personal interview and group discussion rounds, as at this percentile level, strong performance beyond CAT can significantly improve your final admission chances.