Interestingly, the only other qualification that matters on average (to pay checks, at least), is an MBA: So, what if you have more than just the CFA program going for you? So we’ve talked about how the CFA exams increase your potential salary level. Now, that’s some motivation for completing all 3 CFA exams!Ģ) Having an MBA (regardless of CFA status) increases average salary by 22% However, to get the most of the “CFA effect” on your pay, you should aim to go beyond CFA Level 1.Ĭandidates who passed CFA Level 1 on average experienced a 16% increase, whereas candidates that passed CFA Level 2 saw an average increase by 28% to their total compensation. Many candidates who don’t finish the entire CFA program stop at CFA Level 1. On average, submissions that indicated they passed CFA Level 3 or are CFA charterholders earned 53% more than CFA Level 1 candidates. Even after removing the work experience factor, there is a very clear increase in average pay as candidates progress through the CFA Program. We need your help to collect more data for further robust analyses going forward. To receive the latest updated salary analytics going forward, leave your details in the form below.ġ) Having a CFA Charter increases average salary by 53% Thanks to our helpful readers, we’ve collected quite a few data points – 700 and counting. Our sample data by geography approximates the international CFA candidate distribution quite closely. Our CFA salary data represents typical CFA candidate distribution
In short, all of our analyses below excludes the work experience bias through this method. This minimizes the effect work experience has on our analysis.
work experience curve for an equivalent sample, which is then used to index our reported salary. This makes those reports less useful for potential CFA candidates in deciding whether CFA is worthwhile, since those salary reports are merely surveys without any useful conclusions.Īs candidates progress through the CFA program, their work experience also tends to increase, which leads to difficulty in attributing rises in pay to the CFA qualification alone – the pay increase could just be due to the candidates’ work experience increasing.įor our analysis, we’ve utilised salary data by work experience from PayScale to create a salary vs. In most other CFA salary reports, there is a fundamental problem in separating the influence of work experience on reported salary data. CFA salary: Why do we need to remove the work experience bias?
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