Why do some people say CFA is useless?

Because we don’t know enough about CFA!

In 2014, 671 people in mainland China obtained CFA charter qualification certification. As of December 10, 2014, the number of CFAs in mainland China has reached 3,125, exceeding 3,000 for the first time. Among them, in 2014, 277 people in Shanghai received CFA certificates, accounting for 41.28% of the country's total; the total number of CFA certificate holders in Shanghai also reached 1,421, accounting for 45.47% of the country's total.

According to the CFA Institute, more than 20,000 candidates from around the world successfully passed the CFAlevel 1 exam in December 2014.

In mainland China, many investment banks, fund management companies, securities companies and other institutions have money that is easy to come by and analysts are hard-pressed to find. According to surveys, with the continuous development of the domestic financial securities market since 2005, more and more chartered financial analysts are active in the domestic financial investment arena, and many have served as fund managers, investment directors, research directors, and outstanding financial analysts. It is also very common for important positions such as directors to have good performance and annual sales exceeding one million RMB.

A survey on the salary situation in the investment industry shows that employers are willing to provide high bonuses to CFA charterholders with 10 years or more of work experience. In the same industry, CFA charterholders earn 24% more than non-certificates. If work experience is not discussed, the salary gap between CFA charterholders and non-certificates will be even greater. The salary of CFA charterholders is 54% higher than that of non-certificates.

The world-famous institutions with the largest number of CFA employees include: Goldman Sachs, Morgan Stanley, J.P Morgan, Citigroup, Moody’s, Deutsche Bank, Barclays, Credit Suisse and UBS, PricewaterhouseCoopers, and domestic top brands Investment banks such as CICC, CITIC, Galaxy Securities, Guotai Junan, GF Securities, Huatai Securities, Everbright Securities, Guosen Securities, BOCI Securities, etc. The newly promoted senior executives of the five major banks in 2010 are all CFA holders, and CFA has become a standard for measuring competency in China.

CFA’s employment prospects--In view of the formality, professionalism and authoritativeness of the CFA exam, its qualification certificate is widely recognized in the global financial field and is known as the "Second Passport" and "Wall Street" "Pass" has become the pass for working in the banking, investment, securities, insurance, and consulting industries.

A survey on the salary situation in the investment industry shows that employers are willing to provide high bonuses to CFA charterholders with 10 years or more of work experience. In the same industry, CFA charterholders earn 24% more than non-certificates. If work experience is not discussed, the salary gap between CFA charterholders and non-certificates will be even greater. The salary of CFA charterholders is 54% higher than that of non-certificates. The following are some data on the annual income of CFA charterholders:

The global average annual income of CFA charterholders is US$178,000

The annual income of Singapore CFA charterholders is US$113,000

The annual income of Canadian CFA holders is US$108,000

★The annual income of American CFA holders

Basic salary: $194,000

Basic salary plus bonus: $304,000

Basic salary plus bonus for more than 10 years of service: $392,000

The annual salary of a CFA holder in the United States is less than the annual salary of a Harvard MBA of 128,000 About $60,000 more.

★Annual income of CFA charterholders in the UK

Basic salary: $179,000

Basic salary plus bonus: $320,000

Basic salary plus bonus for more than 10 years of service: $412,000

★Annual income of Hong Kong CFA holders

Basic salary: $194,000

Basic salary plus Bonus: $304,000

Basic salary plus bonus after working for more than 10 years: $392,000

So, if they have not obtained CFA qualification certification but only passed part of the CFA exam, they How is your income?

★Income of CFA Level 1 students:

Basic salary RMB240,000

Bonus RMB102,400

Total Annual income RMB342,400

★CFA Level 2 student income:

Basic salary RMB436,000

Bonus RMB156,000

Total Annual income RMB592,000

★CFA Level 3 student income:

Basic salary RMB514,800

Bonus RMB423,600

Total Annual income RMB938,400

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