Chartered financial analysts, or CFAs, work in many different companies holding different positions. CFAs are responsible for managing a company’s finances. Their salaries vary based on their experience level, but also on several factors of the company, including its size, the amount of sales it has each year and the type of organisation it is.
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According to PayScale.com, in 2009, CFAs with less than one year of experience have a median salary of £33,333. Those with one to four years of experience earn a median of £40,668 and those with five to nine years earn £58,717 annually. £78,661 is the median salary for CFAs with 10 to 19 years of experience, and the highest median salary goes to those with 20 or more years of experience, earning £96,861.
According to PayScale.com, the highest-paid CFAs in 2009 worked as chief financial officers, or CFOs, and had a median salary of £92,003. Finance vice presidents were second, earning £85,236 a year. Portfolio managers earned £64,701 while financial/security/investment analysts earned £45,570. Senior financial analysts earned £52,360. Finance and banking analysts earned £40,618. The lowest-paid CFAs in 2009 were financial analysts who earned £38,597 annually.
CFAs work for a variety of employers and, according to PayScale.com, they earn very different salaries based on their employer. In 2009, CFAs who worked as contractors had the lowest median salary at £32,760. Those who worked for foundations or trusts earned substantially more at £50,334 a year, while hospitals paid £50,700 a year. Private practices or firms, general companies, and colleges or universities paid CFAs £52,401, £55,114 and £56,160, respectively. Self-employed CFAs had a median salary of £58,500, non-profit organisations had a median salary of £58,949, and schools or school districts had a median salary of £63,871. Franchises and other organisations had the highest median pay for CFAs at £65,000 and £71,884 annually. The government salary for CFAs falls in the middle of all the employers, with state and local governments paying £49,426 and the federal government paying £51,003.
According to PayScale.com, there is variation in salaries for CFAs when it comes to the size of the company. In 2009, the smallest companies (one to nine employees) had the lowest median salaries for their CFAs, paying £49,241. Companies with 10 to 49 employees, 50 to 199 employees, and 200 to 599 employees had CFA salaries of £54,043, £55,671 and £63,426, respectively. Companies with 600 to 1,999 employees paid CFAs £65,637 annually, and those with 2,000 to 4,999 employees paid £53,671. CFAs at companies with 5,000 to 19,999 employees earned a salary of £59,024. The highest-paid CFAs worked with larger companies employing 20,000 to 499,999. These CFAs earned £66,261 annually. The largest company with 500,000 or more employees paid CFAs a salary of £59,944.
CFAs working for companies with less than £325,000 in sales earned the lowest median salaries in 2009. These CFAs were paid £45,804. Other CFAs working for companies with sales between £325,650 and £1,299,350 earned a salary of £53,379. The salaries for CFAs working for companies with sales of £6 million to £64 million and £65 million to £324 million earned relatively similar salaries of £84,617 and £86,125, respectively. Companies with annual sales of £1.3 billion or more had salaries for their CFAs of £67,600.