Bringing this back.
Becoming a charterholder will add value to you so why wouldn’t an employer give you a raise. If you’re a good performer and the company values the CFA then it’s a no brainer.
“Well this person is doing great and just passed exams that are pretty difficult. The person approached in a respectful way but f*ck em I’m not giving them anything”
Sorry, but if I were denied that just gives me the open lane with a clear conscious to go somewhere else
#cya
i guess if you don’t ask the answer is always a “no”
tread carefully though
Most companies I’ve heard of that “value” the CFA generally have some sort of raise predetermined if you obtain the Charter. If you get it and, say, work for a textile company, you’re unlikely to receive a bump in pay.
I would have a clear conscious Anyways if you have an offer for more money.
45k is what someone makes coming right out of school from a second tier school in a local market that is probably in the bottom quartile of pay across the board within the US, not someone with 5 years of decent quality experience financial services experience.
It is true that based on all salary surveys I have seen: Bachelor’s w/o vs Bachelor’s w charter can be as high as double in terms of total comp after 5 years experience.
However, I think the reason for it is because, CFA charterholders are considered for higher paying roles average (in investment management anyway/Buy side). There boutiques out there where literally all of management has those three little letters after their name and the associates/analysts usually are well on their well but not yet.
I would wait until your normally scheduled reviews. Before then, take a look at your local CFA society compensation survey and if you are under the average you have a point to talk about.
You won’t get paid by having the CFA. You’ll get paid if an employer can’t afford to lose you.
So… conversation like
Boss: Here’s you’re 3% COLA adjustment for the year
You: I really appreciate it, the opportunity to work here has been great. I was looking at some compensation numbers from the local CFA chapter and I’m being paid about 20% below the average. It’s okay, but I would like to eventually reach and exceed that number. What more could I do here to increase my value to you and the company?
If you do that, you don’t sound like you’re threatening to leave, but you set some expectations and state that you are willing to work for more money. Maybe?