According to Investopedia, CFA stands for Chartered Financial Analyst and it is a globally-recognized professional designation which is given by the CFA Institute. You may want to be a CFA, but you wonder about the CFA Level 1 expected salary. The information about salary is important for everyone who is looking for a job. So, you are able to read about CFA level 1 expected salary below.
CFA Level 1 Expected Salary
According to the Zip Recruiter site, as of September 5th, 2022, the average annual pay for a CFA Level 1 in the United States is $46,910 per year. It is about $22.55 an hour or $902 per week or $3,909 per month. Usually, the majority of CFA Level 1 salaries now range between $31,000 to $52,000 where the top earners make $75,000 annually across the United States. It is important for you to note that the average salary range for a CFA Level 1 varies and it shows that there may be a lot of factors that can affect it such as skill level, location and years of experience.
Top 10 Highest Paying Cities for CFA Level 1
You probably want to know the top 10 highest paying cities for CFA Level 1 jobs. According to the Zip Recruiter site, here are the top 10 highest paying cities for CFA Level 1 jobs.
- Atkinson, NE
Annual Salary: $61,209
Monthly Pay: $5,100
Weekly Pay: $1,177
Hourly Wage: $29.43 - Frankston, TX
Annual Salary: $60,127
Monthly Pay: $5,010
Weekly Pay: $1,156
Hourly Wage: $28.91 - Dimondale, MI
Annual Salary: $56,195
Monthly Pay: $4,682
Weekly Pay: $1,080
Hourly Wage: $27.02 - Manhattan, NY
Annual Salary: $55,909
Monthly Pay: $4,659
Weekly Pay: $1,075
Hourly Wage: $26.88 - Skyline-Ganipa, NM
Annual Salary: $54,405
Monthly Pay: $4,533
Weekly Pay: $1,046
Hourly Wage: $26.16 - Cambridge, MA
Annual Salary: $54,187
Monthly Pay: $4,515
Weekly Pay: $1,042
Hourly Wage: $26.05 - Arlington, VA
Annual Salary: $53,638
Monthly Pay: $4,469
Weekly Pay: $1,031
Hourly Wage: $25.79 - Williston, ND
Annual Salary: $53,378
Monthly Pay: $4,448
Weekly Pay: $1,026
Hourly Wage: $25.66 - New York City, NY
Annual Salary: $52,909
Monthly Pay: $4,409
Weekly Pay: $1,017
Hourly Wage: $25.44 - Lake Marcel-Stillwater, WA
Annual Salary: $52,806
Monthly Pay: $4,400
Weekly Pay: $1,015
Hourly Wage: $25.39
As you are able to see from the list above, the highest paying city for CFA Level 1 jobs is Atkinson, NE with annual salary of $61,209. Meanwhile, in the tenth position, there is Lake Marcel-Stillwater, WA with the annual salary of $52,806.
Top 5 Best Paying Related CFA Level 1 Jobs in the US
According to the Zip Recruiter site, here are top 5 best paying related CFA Level 1 jobs in the US.
- CFA Python
Annual Salary: $96,044
Monthly Pay: $8,003
Weekly Pay: $1,847
Hourly Wage: $46.17 - CFA Private Equity
Annual Salary: $91,932
Monthly Pay: $7,661
Weekly Pay: $1,767
Hourly Wage: $44.20 - Financial Analyst CFA
Annual Salary: $80,308
Monthly Pay: $6,692
Weekly Pay: $1,544
Hourly Wage: $38.61 - Investment Management CFA
Annual Salary: $$79,665
Monthly Pay: $6,638
Weekly Pay: $1,532
Hourly Wage: $38.30 - CFA Remote
Annual Salary: $77,705
Monthly Pay: $6,475
Weekly Pay: $1,494
Hourly Wage: $37.36
The Ways to Increase Your CFA Salary
Of course, everyone wants to increase their salary. However, it cannot be reached instantly. There are several requirements for the person so that they are eligible for having increased salary. Same as some other jobs, if you want to increase your CFA salary, you have to make yourself more valuable. According to the Corporate Finance Institute, it includes strategies such as asking for more responsibility, taking on a cross-functional role, mentoring junior team members, and upgrading your technical financial skills.
Average CFA Salary Based on Experience, Job Title, Company Size and By Industry
According to the Crush The Financial Analyst Exam site, below is the explanation about the average CFA salary based on experience, job title, company size, and by industry.
- Experience
If you are a CFA who have one to four years of industry experience, you are able to expect to get a median annual salary of around $68,383. Meanwhile, if you have around five to nine years of experience, usually your salary will be an average of $87,732. If you are a professional who have more than 20 years of experience, your median salary is approximately $155,100. - Job Title
If you are a financial analyst, usually you will have lower-paying CFA positions and your salary is between $43,218 and $78,374. If you are a Chief Financial Officer, you will have higher-paying positions where your salary can be between $67,786 and $217,242. If your job is an investment analyst, you are able to earn between $43,364 and $86,300. - Company Size
Depending on the type of company or private firm that employs the CFA, the salary will also vary. If you work in a private firm, it usually will pay you more than smaller companies. So, if you are sure that you are eligible, it is better for you to apply for a big company since they can offer higher salary. - By Industry
Here is the list of median salary of CFA by industry as cited from Crush The Financial Analyst Exam site.- Financial Services
The median salary is $83,812. - Insurance and Financial Services
The median salary is $91,006 - Banking
The median salary is $93,578. - Investment Services
The median salary is $78,816. - Wealth Management
The median salary is $77,526.
- Financial Services
Well, that’s all the information that I share with you about CFA according to various online sources. As you are able to read from the explanation above, if you want to get a higher salary as a CFA, you have to make yourself valuable. You also can work in a city that offers you a higher salary for this job. You also have to make sure that you have years of experience since it affects your salary as well. Not only that, the industry where you work in and job title also affect your salary.
So, thank you for reading this article, and hopefully the information can be helpful, especially for you who want to be a CFA or a CFA who is still confused with your career.
