CFA Institute Releases Survey of Impact Assessment of CFA Program in India

CFA Institute, the global association of investment professionals, recently conducted a compensation survey with CFA Program candidates and CFA charterholders in India to evaluate and measure the impact of the CFA charter on their career and compensation progression. According to the survey, the average annual income increased by 192% from new Level I candidates to recently awarded CFA charterholders - a qualification gained after passing three levels of examination and accumulating 4,000 hours of work experience over a minimum of 36 months.

The report further reveals interesting insights and provides a perspective on real vs. perceived income expectations and career progression. The survey found that the remuneration of a new CFA charterholder with approximately six years of work experience is INR 28.6 lakh, which is close to the expectation of INR 31.7 lakh from candidates currently pursuing the program. The annual average salary range for new Level I candidates to CFA charterholders is between INR 9.8 - 44 lakh.

“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 the competency provided by the program 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 a 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.”

Additional key insights:

• 66% of the respondents stated that the CFA Program has had a high impact on their career progression, and 78% believe the impact is highest when they start as a Level I candidate.
• 76% of the respondents do see a rise in compensation in the next 12 months; the expected increment is reported to be in the range of 5% to 15%.
• More than half (51%) agree to have seen a tangible impact on their compensation growth as a result of pursuing the CFA Program.

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 2,154 responses from survey participants across India, with Mumbai and Delhi being the top two candidate markets.

View highlights from the study here.