We recently wrote about the average accountant salary in Kenya leading to some of our readers requesting us to also clarify on the mean CIFA salary in Kenya.
And so this article is for anyone seeking to know the existing CIFA salary in Kenya.
How much is the starting CIFA Salary in Kenya?
Well, from our surveys, the starting CIFA salary in Kenya is between Kshs.30,000-40,000 per month.
This is the typical salary in small and medium consultancies operating in Nairobi and a couple of other towns in Kenya including Mombasa and Kisumu.
Most of these firms offer you the perfect environment to practice what you learned in your course and hone your skills as you prepare to take on more demanding roles in the future.
They’re thus a handy stepping stone to bigger and more lucrative CIFA jobs in bigger companies including investment banks.
How much is the maximum CIFA Salary in Kenya?
Well, it depends but I have seen advertisements for CIFA jobs in Kenya paying between shs.150,000 to shs.200,000
This is the pay for significantly experienced financial analysts in insurance companies, financial institutions, and leading risk management consultancies.
Other CIFA job opportunities paying this well are found in investment management companies and stockbrokers.
In such positions, you’ll be providing relevant advisory and investment information to fund managers, company executives as well as the directors.
How to earn more as an investment or financial analyst
First, having a bachelor’s degree is mandatory if you want to attract better pay.
Then, apply for attachment opportunities in the course of study to hone your skills, even if it’s unpaid.
The exposure you gain will come in handy when searching for actual jobs.
In any case, not many employers will consider you for serious CIFA vacancies without adequate experience.
To further boost your employability, pursue relevant short courses in Stock Market Eye, SPSS, and advanced Excel.
You shouldn’t stop there..
Enroll for a master’s degree in financial analysis with time if you dream of rising to leadership positions, which often come with the best pay package.
What is CIFA?
CIFA (Certified Investment And Financial Analysts) (CIFA) is an Investment and Financial Analysts certification offered by KASNEB.
The objective of the course is to make you a guru in financial analysis, portfolio management, pensions management, investment banking, and more.
It’s the only approved investments and securities certification in Kenya and could a great addition to your Accounting, Finance, Commerce, or Economics degree.
CIFA qualifications in Kenya
To take CIFA, you must have scored a minimum of C+ mean grade in your KCSE.
Besides, you must have attained at least a C+ grade in Math and English.
You will need to register with KASNEB before attending college.
You can even opt for private studies if you have access to CIFA notes.
CIFA study packs are also available on the KASNEB e-learning library here (for registered students).
Is CIFA hard?
Well, you’ll thoroughly enjoy the course if you’re a numbers person.
CIFA can, however, be a bit demanding as you progress, especially, if you lack a strong foundation in Mathematics.
Wrapping it up
Overall, the CFA holders salary in Kenya ranges from shs.30000 to shs.200000
Of course, a few organizations pay beyond this range for CIFA graduates with a wealth of experience but in most cases, the minimum starting pay is shs.30000 and the maximum shs.200000.
Note that some employers require that you be a member of ICIFA to be hired.