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- Topic: Are CFA Salary Surveys real?
|Author||Topic: Are CFA Salary Surveys real?|
|I've seen many CFA salary surveys that show that the average and median salaries are at least 150k-200k a year. Are these surveys representative of the general CFA population? Or do you think that people who took part in the survey just happen to be the ones that are really successful?|
|You are looking it wrongly.
It should be read as - Successful financial professionals take many certification exams (including CFA) to learn, re-learn or stay up-to-date in their chosen field.
it should not be read as - People who took certification exams (including CFA) became successful.
The salary numbers you are seeing belong to 'successful financial professional'. These professionals are also likely to have bachelor's from top notch schools, MBA from top notch schools, some other certifications e.g. CA, CPA, FRM, CAIA etc.
I believe things will be clear once you read the additional details provided in the survey. Look for age, experience, gender, location, employer etc.
|Self-reported salary surveys are about as accurate as self-reported penis-size surveys, studies about how many people respondents have slept with (over-reported by men and underreported by females), and self-reported weight and age info on dating websites; they should be taken with a grain of salt.|