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I understand that aspect of it but from my understanding of wage rates the more qualifications you have the more value you are providing to your employer which in turn means you earn more money. I'm talking mainly about equal experience candidates. I'm sure there's more that goes into it than that like location etc. But the industry does have some confusing standards when it comes to salary. Not complaining though I'm actually a capital markets monster who eats yield curves for breakfast. 

 
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  1. What ERAnalyst58392020 said
  2. "The more qualifications you have the more value you are providing to your employer which in turn means you earn more money." Qualification is not the same as certification. Achieving Fellowship (of Society of Actuaries) doesn't make an actuary good. Having an MBA doesn't make one become a CEO. Having a CFA, for damn sure, doesn't make anyone a better investor and guarantees one a route to managing money. Certifications create that perceptions, but at the end it's your ability to add value that matters. If you want to be compensated for the number of exams you passed, go for the actuarial profession where your salary is directly tied to the number of exams you pass (though I strongly believe the effort does not translate to the salary increments, again validating my argument that exams don't really make you a better worker). 

Are Actuaries the FIRE Superheroes? - Physician on FIRE

 

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