The salary for actuaries and Chartered Financial Analysts (CFAs) can vary based on factors such as experience, location, employer, and industry. Here's a general comparison:
Actuary Salary: Actuaries are professionals who assess financial risks using mathematics, statistics, and financial theory. They often work in insurance companies, consulting firms, or government agencies. According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for actuaries was $111,030. Actuaries with several years of experience, professional credentials (such as Fellow of the Society of Actuaries or Fellow of the Casualty Actuarial Society), and expertise in specialized areas can earn significantly higher salaries.
CFA Salary: Chartered Financial Analysts (CFAs) are investment professionals who analyze financial markets, manage investments, and provide financial advice. They typically work in investment management firms, banks, hedge funds, or financial advisory firms. CFA Institute's Global Compensation Survey found that CFAs' median compensation globally was $220,000. However, this can vary widely based on factors like location and experience. CFAs with several years of experience, working for prestigious firms, or specializing in high-demand areas like portfolio management or investment banking, may command higher salaries.