GCCs and GDP fuel India’s investment growth
CFA Institute Senior Country Head, India, Arati Porwal on how transforming talent needs across India’s investment management industry is leading to accelerated demand for CFA® Program candidates and CFA charterholders– and why it is fast becoming a career differentiator for the next generation of investment professionals.
India is already one of the fastest growing economies in the world, having recorded an annual GDP growth rate of over 6% every year since the COVID pandemic in 2020.
A key part of the country’s ambition to become a developed nation by 2047, says Arati Porwal, CFA Institute Senior Country Head, India, is to build citizens’ wealth through a thriving investment management industry. But sourcing the right talent to underpin India’s economic growth engine is not without its challenges, warns Porwal.
In a country with a young and ambitious population – India has a median age of 28.9 years - intense competition for jobs in a sought-after industry can see thousands of applications for each open position. Porwal says that CFA Institute is fast becoming a differentiator for talent as the next generation of ambitious and highly educated graduates look to have an edge over their competitors.
Already, CFA Institute is recognized as that preeminent independent professional body committed to the development and growth of the investment industry.
Baseline requirement
Employers increasingly recognize the CFA® Program Level I and Level II as a baseline requirement and are using it as a talent filtration mechanism for entry level roles. “For young people, recognized qualifications are essential to breaking into careers that they aspire to. Otherwise, the sheer number of applicants for jobs in the investment industry make it incredibly difficult for organizations to filter prospective talent,” Porwal says.
A recent talent landscape study by CFA Institute conducted by market research agency Kantar, gauged the views of 120 employers in the investment management industry and found that employers overwhelmingly recognized the benefits of the CFA Program among prospective employees.
In particular, they value the combination of technical knowledge with the practical skills modules introduced into the CFA Program Levels I and II in 2024 in an industry where being able to hit the ground running is increasingly sought after.
Organizations have a high preference for job-ready talent . That is why our industry recognized qualifications are second only to relevant work experience when it comes to hiring decision making.
But for candidates, there is far more to CFA Institute membership than the ability to get a foot in the investment industry door. CFA charterholders earn on average almost three times more than the average salaries of Level I candidates in employment. And almost 70% of Level I candidates believe that the CFA Program will have a significant contribution to their career growth. A recent Compensation and Career Impact Study conducted by Kantar has highlighted these findings.
These messages are resonating with jobseekers: there are today over 5000 CFA charterholders in India, propelling the country into the top 10 of CFA Institute’s markets by volume. Meanwhile, new Level I candidate numbers have seen 20% year-on-year growth over the past three years. Approximately 50,000 candidates will be taking CFA Program examinations in 2026.
The rise of GCCs
Growth of finance Global Capability Centers (GCCs) in India is further fuelling demand for investment professionals in the country. Today there are around 1,700 GCCs in India, a ry. Organizations such as Statestreet, Goldman Sachs and Blackrock now have significant employee strength through their GCC’s in India. But this is no longer a cost arbitrage play. Instead, it’s the need for talent that is driving phenomenal GCC growth in India. Some of the organizations have key global functions such as Sustainability Analytics and AI leadership based in India.
“These organizations simply cannot get that scale of quality, high-level talent in other countries. The GCCs have been a key driver of demand for CFA charterholders over the past few years, and we are working closely with them to ensure that they have sufficient talent to continue to grow,” Arati says.
More than just a numbers game, this is also about continuous development and ensuring that investment professionals fuelling the growth of organizations keep pace with demand for evolving skills. The CFA Program and its curriculum, which is continually tested with employers, play an essential and unique role in bridging the talent supply/demand gap.
“We are helping employers to understand their skills requirements today and tomorrow through our thought leadership and insight and bringing them closer to that talent pool,” says Porwal.
Being part of the CFA Institute community is for many people an essential and enduring benefit of membership. And something that makes Porwal particularly proud.
CFA members and charterholders all understand that the minute they put CFA after their name, it sends out a strong message that they are not just part of an industry but part of a vibrant community of investment professionals- one that is invested in their professional development and career advancement.
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