What salary level does CFA certification attract
It is a common fact that the road to take to become a certified chartered financial analyst is way too long and strenuous. How much worth does becoming a certified CFA entail, then?
The monetary equivalent of becoming a certified CFA is definitely fulfilling as it spells hugeness in form. A lot of certified CFA would agree with this claim. The salary survey conducted in 2005 states that the compensation of a CFA ranges from $180,000-$200,000 per annum. More to that, when a certified CFA earns a very impressive experience and tenure as a financial analyst, the greater the amount he gets to earn. Usually, the salary compensation ranges from $230,000- $300,000 per annum.
There are a lot of factors that affect the salary ranges that a CFA gets. Naturally, your being a certified CFA is one major factor. A certified CFA gets more than 30% in salary compared to a non-CFA. Logical enough, the certification is a very strenuous process to take. Another factor that is considered is the gender. Although this is a very unfortunate reality, female CFAs get to earn 13% less than their counterpart.
Adding to this, a CFA holds various workloads and responsibilities. When you hold, as a CFA, the portfolio management area, then you get to earn more and better compared to the other areas of financial analysis. Lastly, the other factor that affects the monetary compensation is based on where you are designated to work. The States in America, just like in any other country, applies the salary rate application per area. The more urbanized the location is the greater the salary that is being offered. In the US, New York City is the location that offers the highest amount of salary for CFAs.
by Korbin Howard