You’ve (almost) got through your 300 hours of revision ahead of the CFA exams on June 15 (or June 16, for Level I candidates in Asia). Provided you eventually pass all three levels (only about one in five people who sit the Level I exam end up becoming charterholders), it’s worth considering how the CFA might help you land a well-paid job in Singapore financial services.
Will all the time you’re spending studying for the CFA actually pay off in terms of your future earnings? To find out, we looked through our CV database and identified the 10 job sectors which contain the most Singapore-based CFA Charterholders.
We then averaged-out five 2019 recruiter salary surveys to calculate annual base pay for VPs (people with around seven years’ experience) for key jobs in these CFA-friendly sectors. If you’re taking the CFA to make a lucrative career change, the functions toward the top of the table are the ones you’ll want to work in.
CFA Charterholders in Singapore are earning the highest salaries within trading (both equities and fixed income). The qualification is also surprisingly popular within private banking – relationship managers at VP-level take home S$210k on average in Singapore. RMs typically do the CFA to gain further insights into the investment products they are selling their clients.
Buy-side roles in private equity, asset management and hedge funds – which traditionally have high Charterholder numbers – make up the middle of our pay table. While the CFA may add to your skill set in risk management and accounting (product control), these sectors are comparatively poorly paid. You won’t get rich by becoming a CFA Charterholder and staying in these two jobs.
Image credit: bennymarty, Getty
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