How Long Does It Take to Complete CFA? Full Duration Guide

If you’re considering the Chartered Financial Analyst (CFA) programme, one of the first questions you’ll have is, ‘How long does it take to complete CFA?’ The CFA is one of the most respected finance certifications worldwide, but it’s also known for its intensity and time commitment. On average, candidates spend several years progressing through the three exam levels, with thousands of study hours invested along the way.

In this guide, we’ll break down the CFA course duration, exam timelines, study hours, and what you should realistically expect when planning your CFA journey.

The CFA program is divided into three levels:

• Level I: Introduces the basics of investment tools, financial analysis, and reporting. 
• Level II: Focuses on applying concepts with an emphasis on valuation and analysis. 
• Level III: Concentrates on portfolio management and advanced financial strategies.
  

On average, candidates take 4 years to complete the CFA program, although the average time to complete the CFA can range from 2.5 to 5 years, depending on the exam success rate and preparation.

Here’s a breakdown of the CFA level durations if you pass each exam on your first attempt:

• CFA Level I: Preparation typically takes 6-9 months, with approximately 300 study hours recommended.
• CFA Level II: Considered the most difficult; most candidates spend 9-12 months preparing.
• CFA Level III: Requires about 6-9 months, but the focus shifts toward practice and essay-style questions.
  

Since the exams are offered only a few times a year, your timeline also depends on exam windows and scheduling. You can explore the latest CFA curriculum updates for 2025 to understand how these changes affect exam timelines.

• Level I exams are offered multiple times a year (February, May, August, and November). 
• Level II is typically offered in May and August. 
• Level III is usually offered in February and August.
  

If you clear each exam on your first attempt and choose back-to-back windows, you could complete the CFA in about 2.5 years. However, many candidates take breaks between levels, stretching the CFA completion period closer to 4-5 years.

The CFA Institute recommends 300+ study hours per level, but most candidates report needing more. Depending on your work schedule and background, the CFA programme time commitment could range between 15 and 20 hours per week for several months.

This commitment means that balancing work, study, and personal life is key. Planning your schedule around exam windows is essential to avoid burnout.

For candidates in India, the CFA duration in India is no different from that in other regions. However, with increasing demand in the finance sector and the CFA’s recognition by top employers, Indian students often aim to complete the program as quickly as possible. On average, Indian candidates also take about 4 years to complete CFA.

Realistically, most candidates do not pass all levels on their first attempt. With pass rates historically averaging around 40-45%, setbacks are common. That’s why the average time to complete CFA extends to around 4 years globally.

Still, with strong preparation and proper planning, finishing in under 3 years is achievable.

If you’re serious about becoming a CFA charterholder, structured guidance can save you months of wasted effort. Enroll today in our CFA Online Course and get expert mentorship, updated study material, and a clear roadmap to success.

Q1. How many years to complete CFA on average?
Ans: Most candidates take about 4 years to complete the CFA program, though it can be done in 2.5 to 5 years depending on exam success.

Q2. What is the CFA course duration per level?

• Level I: 6-9 months 
• Level II: 9-12 months 
• Level III: 6-9 months 

Q3. How much CFA preparation time is required?
Ans: Around 300 study hours per level, which usually means 15-20 hours per week over several months.

Q4. Can CFA be completed faster?
Ans: Yes, if you clear each exam in the earliest exam window, you can finish in as little as 2.5 years.

Q5. Is the CFA duration in India shorter or longer?
Ans: The CFA duration in India is the same as the global standard, generally around 4 years.