CFA charterholders earn ₹44.4 lakh per annum on average, says survey (2024)

MUMBAI: The annual average salary range for new level 1 candidates to CFA charterholders is between ₹9.8 lakh and ₹44 lakh, according to a compensation survey conducted by CFA Institute, the global association of investment professionals.

CFA Level 1 candidates on average earn ₹9.8 lakh. CFA Level 2 candidates earn ₹13.5 lakh, Level 3 candidates earn 17.5 lakhs and Level 3 cleared - charter pending candidates earn 20.7 lakh on average. Charterholders earn 44.4 lakh.

The survey was conducted among CFA Program candidates and charterholders in India to evaluate and measure the impact of the CFA charter on their career and compensation progression.

Survey respondents were aged between 23 and 34.

The male-female ratio is 73% male at Level 1 rising to 90% at Charterholder level. An accountant/auditor is a top functional area, with a large share of new CFA Level 1 registrant working in the role. As candidates progress and become CFA charterholders, a larger share gets an opportunity to work as equity or investment analyst.

“The CFA Program is globally acknowledged as the gold standard qualification for the investment management profession I am delighted to see its positive impact on the career and compensation of our candidates and members in India. The research validates the value that the industry places on their competency and the relevance of the qualification," said Arati Porwal, Country Head, India, CFA Institute. “Most of our students pursue the CFA Program to acquire relevant skills suited for an ideal role in the investment management profession and also to gain elite professional status in the global finance community. Our aim is to further enhance their learning with various upskilling opportunities helping them to achieve their aspirations."

The average annual income from a new level 1 candidate to recently awarded CFA charterholders, a qualification gained after passing three levels of examination and 4,000 hours of work experience gained over a minimum of 36 months, increased by 192%, according to the study.

Survey methodology:

CFA Institute partnered with Kantar, the world’s leading marketing data and analytics company, to conduct an online quantitative survey with CFA Program candidates and charterholders across India. The survey received 2154 responses from survey participants across India, with Mumbai and Delhi being the top two candidate markets.

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ABOUT THE AUTHOR

Neil Borate

Neil heads the personal finance team at Mint. A former colleague called them 'money nerds' and that's what they are. They cover topics like mutual funds, taxation and retirement, all to improve your chances of building wealth. Neil graduated with a degree in law and economics. He passed the CFA Level I exam and began his writing career at Value Research, a mutual fund research firm in 2016. He joined the personal finance team Mint in 2019. Everyday, the Mint Money Team tackles personal finance questions such as where to invest and where to borrow, through articles, charts and reader queries. They also have a daily podcast - 'Why Not Mint Money' and an annual ranking of mutual funds - the Mint 20.