Does anyone know how to locate a copy of the old 2009 CFAI compensation survey? CFAI took it off the website, believing it was not accurately representing reality. I would like to judge for myself. Also, does anyone know of any other related types of surveys?
thanks!!
They used to have the compensation survey published every year until it no longer made them look good anymore. That from an organization shoving how important ethics is down our throats.
Aye, the pool of charterholders is getting so large that average compensation has dramatically dropped.
So now, I’d wager that the average plumber makes more than the average CFA charterholder. No joke. Credit goes to itera for the plumber reference.
also a bunch of charterholders who are unemployed…not many unemployed plumbers
OK thanks. Probably too late for me to switch to a respecatble career as a plumber or electrician. Any thoughts on how to get realistic salary data for CFA charterholders?
wow. didnt know that. pretty amazing
Seriously?
Yes, serious. Plumbers make decent money.
“Any thoughts on how to get realistic salary data for CFA charterholders?”
People ask that question here from time to time. The only luck is to find local societies that do their own survey. Last one I saw was from Minnesota (Minneapolis / St. Paul society I think) a few years back. Maybe someone can link it.
Disagree JBrowntown… plumbers have a serious ceiling I’m sure. But I get the feeling those kind of comments are meant for their shock value. Unfortunately, some people on here will believe anything they read. Also, those numbers above look pretty stacked even though there have to be some biases in the surveys.
ok thanks Would You Look…
My point of view may be biased as well. I am family friends with the owner of the plumbing company and the owner of a plumbing supply company. They both make a ton of dough. More than the average CFA charterholder I’d bet.
Thanks for the links Would You Look.
I looked it up and the average plumber supposedly makes $52,290 while the average bachelor degree makes $54,000, so the average CFA holder has to be even higher than that
Not every plumber makes as much as Joe The Plumber.
$72,500 for the average plumber here: http://occinfo.alis.alberta.ca/occinfopreview/info/browse-occupations/occupation-profile.html?id=71003098
I know several that are well over $125-150k. Have a few peons working for you and you’re golden in that business. Charge $100 an hour, pay your apprentices $25 an hour. Cha-ching.
Wow. how long does plumbing school take? maybe we all really should have done that.
It’s an apprenticeship, so you learn on the job making a percentage of the journeyman’s wage that is supervising you. The percentage increases with experience. After four years, you get your ticket and you can do permits and supervise others. Then you make the big cash.
Plumbing is solid, but other trades have higher ceilings. Journeyman electricians in the oil sands in Alberta can make $150-200k in a camp (all living expenses paid). A couple friends of mine from school did that for four or five years, then moved back to town and bought their homes in cash, up to a half million. They’re semi-retired, just doing odd contracts when they feel like it.
If you have any business saavy at all, there is a killing to be made in the trades. Most of the guys have no idea what their doing, so it’s easy to be the boss and you get the benefit of billing out your subordinates at high rates. There are guys making $500-600k here running framing crews for the big homebuilders. All the top tradesmen live in the nice acreage areas with their custom homes alongside us financiers. It’s another path, one with a physical toll, but with far more reliable outcomes. You won’t make millions per year in the trades, but you can make a solid six figure plus income fairly reliably with a touch of business saavy. Plus you stay fit and can do a lot of your own work on your property.
I have a landscaping business I’m partnered with on the side (I run the office and do project costing, plus I’m the financial backer) and we’re doing very well. If I wanted to bail out on finance, I could likely live as well doing that if I wanted to do it full time (the downside being an injury can bankrupt you and end your career).
Cool info. Yeah, I have always thought that it seems like the tradesmen are the worst business guys. It’d be neat to just start up a couple trade-type businesses at once and just run them. Not do any of the physical work, just be the boss. However, I wonder if you can run a business like that without fundemental ground-level on the job experience. Certainly not sexy, but sounds like it can be a nice gig