SEBI Grade A Cut Off: Phase 1, 2 and Final Cut Off of 5 Years

Knowing the SEBI Grade A cut-off marks for each stage helps you understand the level of competition and set realistic score targets. It also helps you identify cut-off trends and plan your preparation for the SEBI Grade A exam accordingly.

Below, I’ll cover the SEBI Grade A cut-offs for the last 5 years for Phase 1 and Phase 2, followed by an analysis of the cut-off trends to help you set the right targets for the exam.

SEBI Grade A Phase 1 Cut Off

SEBI Grade A Phase 1 is qualifying in nature, with fixed minimum cut-offs for Paper 1 and Paper 2.

• Paper 1: A minimum of 30% (30 out of 100 marks) is required.
• Paper 2: A minimum of 40% (40 out of 100 marks) is required.
• Overall: In addition to the paper-wise cut-offs, you must secure an aggregate cut-off of 40% (80 out of 200 marks) to qualify for Phase 2.

Important Note: There is no sectional cut-off within the individual papers.

SEBI Grade A Phase 2 & Final Cut Off

Below, I have mentioned the category-wise Phase 2 and final cut off marks of 2025, 2024, 2022, and 2020:

SEBI Grade A 2025 Phase 2 & Final Cut Off

Here are the SEBI Grade A 2025 Phase 2 and final cut-offs:

Important Note:

• Phase 2 has 2 papers of 100 marks each. Paper 1 and Paper 2 have a weightage of ⅓ and ⅔ respectively.
  • To calculate marks out of 100, we multiply your scores in Paper 1 and Paper 2 by ⅓ and ⅔, respectively.
• Phase 2 and the interview have a weightage of 85% and 15%, respectively.
  • Your Phase 2 and interview scores are calculated out of 100 by applying weightages of 85% and 15%, respectively.

SEBI Grade A 2024 Phase 2 & Final Cut Off

I’ve listed the category-wise Phase 2 (mains) cut-off marks for the 2024 exam below. The final cut off is a combination of Phase 2 and interview.

SEBI Grade A 2022 Phase 2 & Final Cut Off

Here are the SEBI Grade A 2022 Phase 2 and final cut offs:

SEBI Grade A 2020 Cut Off

Here are the category-wise Phase 2 (mains) cut off marks of the 2020 exam. The final cut off is a combination of Phase 2 and interview.

When Does SEBI Release the Cut Off Marks?

SEBI usually releases cut off marks at specific points throughout the exam selection process. Let’s understand this with 2024 and 2022 cut offs dates. 

As you can see, there is no separate cut off announcement for phase 2 and the final result.

How to Check SEBI Grade A Cut-Off?

You can check the SEBI Grade A Phase 1, Phase 2, and final cut-offs on the official SEBI website. Follow these steps:

Step 1: Visit the SEBI Website

Visit the official SEBI website.

Step 2: Go to Careers

Click on “About” in the top-left corner and select “Careers” from the drop-down menu.

Step 3: Check the Relevant Category

On the Careers page, look for the relevant recruitment updates.

Important Note: SEBI usually publishes cut-off-related updates under the “Results” category. However, for the 2025 recruitment cycle, SEBI published the cut-off under “Miscellaneous.” Therefore, if you cannot find the cut-off under Results, also check the Miscellaneous section.

Step 4: Find the Relevant SEBI Grade A Update

Look for the notification titled:

“SEBI Recruitment of Officers Grade A (Assistant Manager) 2025 – Phase II Appeared and Meritlised data, Cut Off table for Phase II, Number of candidates selected category-wise and stream-wise and Minimum marks secured by last selected candidate.”

Step 5: Open the Available Documents

The page contains the following links:

1. Phase II Appeared and Meritlisted Data
2. Cut-Off Table for Phase II
3. Number of Candidates Selected Category-wise and Stream-wise
4. Minimum Marks Secured by Last Selected Candidate

Step 6: Check the Phase 2 Cut-Off

Click on “SEBI Recruitment of Officers Grade A (Assistant Manager) 2025 – Cut Off table for Phase II” to check the Phase 2 cut-off.

Step 7: Check the Final Cut-Off

Click on “SEBI Recruitment of Officers Grade A (Assistant Manager) 2025 – Minimum marks secured by last selected candidate” to check the final cut-off.

If you’re curious about the outcome of your hard work, check out the SEBI Grade A result to see how you performed.

When Does SEBI Release the Cut Off Marks?

SEBI generally releases the Phase 2 and final cut-off marks after the respective stages of the selection process are completed. Based on the past years, the release pattern has varied slightly. 

As you can see, SEBI released the Phase 2 and final cut-offs together in 2025 and 2022, after completing the selection process. However, 2024 was an exception, with the Phase 2 cut-off released earlier and the final cut-off released later. 

SEBI Grade A Phase 1 Cut Off: Key Takeaways

After analyzing the previous years’ SEBI Grade A Phase 1 cut offs, here are the key takeaways:

Key Takeaways

• Target at least 30 marks in Paper 1, 40 marks in Paper 2, and 80 marks overall to clear the cut-offs.
• Do not prepare just to meet the cut-off. Aim for a comfortable margin above the minimum required marks.
• Give special attention to Paper 2, which has a higher minimum cut-off of 40%.
• Once you clear Phase 1, shift your focus to Phase 2, as Phase 2 and Interview performance determine the final selection.

SEBI Grade A Phase 2 & Final Cut Off: Key Takeaways

After analyzing the previous years SEBI Grade A Phase 2 cut offs, here are the key takeaways:

Key Takeaways

• The Phase 2 cut-off has remained around 62–67 marks over the years.
• The cut-off was 66.50 in 2025, the same as 2024, showing a stable trend.
• The 2022 Phase 2 cut-off was the lowest at 62.34 marks.
• The final selection cut-off is consistently higher than the Phase 2 cut-off, ranging from 64.82 to 70.285 marks.
• In 2025, the final cut-off increased to 70.285, indicating that clearing the Phase 2 cut-off alone may not be enough for final selection.
• Preparation takeaway: Do not target the cut-off. Aim for a comfortable margin above the recent Phase 2 cut-off to improve your chances of making the final list.

For effective preparation, you should also check the SEBI Grade A exam analysis. 

How Is the SEBI Grade A Cut-Off Determined?

The SEBI Grade A cut-off is not fixed in advance. It can vary from one year to another depending on several factors:

• Number of Vacancies: Fewer vacancies can lead to a higher cut-off, while more vacancies may lower it.
• Number of Candidates: A higher number of candidates increases competition and can push the cut-off upward.
• Difficulty Level: If the exam is difficult, the cut-off may be lower. An easier paper can result in a higher cut-off.
• Overall Performance: The cut-off also depends on how well candidates perform overall.
• Category-wise Vacancies: The cut-off can vary across categories based on the number of vacancies and applicable reservation.

Therefore, you should not prepare with the previous year’s cut-off as your target. Instead, aim for a comfortable score above the recent cut-off to account for yearly variations.

SEBI may also use normalization when the exam is conducted in multiple shifts to account for differences in the difficulty level across shifts. The normalized scores may then be considered while determining the cut-off. 

How is the SEBI Grade A final cut-off calculated?

The final SEBI Grade A cut-off is based on the combined marks of Phase 2 and the Interview.

Only the marks obtained in:

• Phase 2 (Paper 1 & Paper 2), and
• Interview

are considered for preparing the final merit list. Phase 1 marks are not included in the final selection.

Conclusion

We have explained the past 4 years SEBI Grade A cut offs for Phase 1, Phase 2 and final selection and covered how to check your cut off marks from the official website of SEBI. We hope this information will help you set your study goals and score well above the final marks, thereby increasing your chances of clearing the SEBI Grade A exam.