The CFA designation is highly valuable and often considered a prerequisite for senior investment management roles in Canada, with chartered professionals commanding significantly higher salaries. In major hubs like Toronto and Calgary, charterholders often earn $150,000 to over $180,000 annually, benefiting from 15-20% salary increases upon completion.
On the other hand, CFA enjoys high demand across various roles in sectors such as investment management. The most prominent examples of such roles are financial analysis, investment banking, and portfolio management. Having a CFA in Canada helps you work in the financial markets as well.
CFA Institute receives new IIROC recognition for professional accreditation in Canada.
Both exams are challenging, and you'll need in-depth knowledge of complex concepts in finance or accounting. However, the CPA Exam generally requires less studying - around 80 to 120 hours per section compared to 300 hours per section of the CFA Exam, and the CPA Exam also has a higher pass rate.
Mature markets like the U.S. and the UK provide high CFA average salaries, while emerging markets like India and the UAE offer rapid career growth and regional leadership roles. Look for CFA careers in countries that combine low CFA density with high investment inflow, e.g., UAE, Vietnam, and Nigeria.
An MBA program provides a broader education than the CFA program. The CFA focuses more on detailed topics like investment management. Completing both may give you a comprehensive education that could help prepare you for a career in portfolio and corporate management.
The average salary in Toronto is $62,050, which is 14% higher than the Canadian average salary of $54,450. A person making $75,000 a year in Toronto makes 20.9% more than the average working person in Toronto and will take home about $56,504.
Industry professionals worldwide recognize the CFA charter as the “gold standard” of all financial analyst designations. CFP® certification is a professional designation for financial planners. Also known as the CERTIFIED FINANCIAL PLANNER™ mark, its governing body, CFP Board, administers the credential.
A master's degree is typically more valuable when you're starting out and need academic legitimacy and school-based recruiting. In the comparison of Masters in Finance vs CFA, the former wins when your primary goal is entry into finance or a rapid pivot into investment banking, risk analysis or structured products.
Mid-Level Salaries: CFAs with Level II or III certification and several years of experience can earn between CAD 80,000 and CAD 120,000 annually.
2,390 of the total 204,000 CFA Charterholders work at RBC, the highest number for any single employer worldwide.
Wondering what kind of jobs earn a staggering $300,000 or more per year in Canada? While this income level represents the top 1–2% of earners, it's achievable in several high-demand and specialized fields—particularly for skilled professionals with years of experience and strong credentials.
Those in the highest income groups rely on dividends as a major source of income. According to Statistics Canada, the top 1% of tax filers in 2022 reported an average dividend income of $97,000; the top 0.1% had $480,000, and the top 0.01% had an average reported dividend income of $2,179,000.
Positions with a $1 million annual salary are most commonly found in executive leadership (such as CEOs and CFOs), high-level finance roles (like investment bankers or hedge fund managers), specialized medical professions, and top-tier sales or technology roles (such as senior partners or principal engineers).
Average Age of CFA Candidates
Although many candidates are in their late twenties or early thirties, the Program has a wide age range. Many begin at 35, 40, or even 50. Some of the most thoughtful, determined candidates are the ones who start later. Experience is not a burden.
The 10th and 90th percentiles were removed from the report because we have added scale scores. Scale scores add more precision to your results interpretation. The 10th and 90th percentiles only provide a comparison of your result against other candidates in the same administration.
CFA Level 1 is widely considered a very difficult exam due to its broad curriculum, demanding study commitment (often 300+ hours), challenging technical content, and typical ~40% pass rates, requiring strong discipline to learn and recall foundational finance concepts, though it's often seen as the most manageable of the three levels because it focuses on learning and describing rather than deep analysis. Success hinges on consistent study, mastering core topics like Ethics, FSA, and Investments, and effective exam technique, making it a significant hurdle for many.