Somehow I can’t help but think there’s a big supply and demand imbalance. The world of finance keeps shrinking while the number of CFA charters given out keeps growing faster and faster…
The number was 95,000 just a short while ago…
http://www.cfainstitute.org/about/Pages/facts_and_statistics.aspx
They should make L2 harder… Haha jk don’t flame me L1 / 2 peeps
Charterholders now compose 0.0015% of the world’s population!!!
Stop diluting my Chahta!!
its true though, something needs to be done. It will lose any credebility otherwise.
Who knows though, there could be a call for a mass genocide of CFAs due to the GFC soon.
It already has pretty much no credibility for high end jobs. Don’t flame me, it’s true.
Ability to make money > top MBA > CFA > BBA / BS from a good school > 2nd tier MBA > everything else
There are over 130,000 chartered accountants, and thats just in the UK body. So include other countries and there are also a crapload of these guys.
The CFA institute needs to make some other cash cow designations, and keep CFA more exclusive.
I don’t think it will lose credibility, but what may end up happening is that because so many people are in the program, it will become almost a prerequisite for those that don’t have a stellar MBA or connections to get in.
That’s another reason why it’s smart to just get it over with quickly, I think pass rates will be lowered or the charter will be made more difficult to get in some way
You could reduce the number of people passing the exam if you were required to have 5 years of post college work experience before you can sit for level I. Also you must have 1 year between level I and II and 1 year between II and III. While the material is tough, it is far easier to set aside study time when you are in college or right out of college. Once you are in your late 20s and early 30s things like a spouse and kids make it a much larger sacrifice (and hence difficult) to pass. I would love to see the drop out rates regresed aganst candidate age.
is 100k active Charterholders… or number of Charters awarded since inception?
Should be active. Obviously if you don’t pay your yearly fee or sign the yearly conduct form, you’re not considered a CFA charterholder
This sounds like a prelude to ethnic cleansing. I need to figure out which subfaction of CFAs have the upper hand. Is it the CFA+MBA folks? or the CFA+IT folks? or the CFA+ER people?
i dont see this as a problem… alot of the older people with the charter (40s-60s year olds) arent in the market for the same jobs as a hungry 30 something… and not willing to work 60+hours a week.
sure there is a huge concentration of “CFAs” in NYC/London… but if you could really count the number of job seekers in any random financial hub… its still rare. i assume 90% of charterholders are already employeed and not actively sending resumes.
That should be easy. The subgroup with the upper hand should be CFA +work experience
Those that want to limit the number of charterholders are insecure. Have more confidence in yourself.
It reminds me of a singles party I attended recently. I believe the ratio was 1.5 men for every woman. Of course, those that complained about the ratio before even attending the party didn’t hook up at the party. Those that didn’t give a damn about the ratio did well.
Actually I believe it’s since inception. I’d hate to have the same number of some asshole that dropped out two years ago.
^^
yep… this makes more sense… (100k since inception)
if you break it down i would bet there is a fraction of people that get awarded the Charter and never renew the membership after the first couple of years (stop using the designation)… alot of people move on to other careers. whatever…
still curious as to how many people are using the CFA designation right now… and only a very small fraction of that is actively looking for a job…
Respect.
I seem to recall that when I was at the CFAI conference in Vancouver a few years back, they were saying that they’d just given out the 120,000th charter. I was trying to reconcile that with the fact that there were less than 100,000 active charterholders at the time (something like 95k) and I came to the conclusion that the missing 25k must be inactive, retired, or had died since receiving the charter.
I don’t know what the actual number is, though.
^ This makes a lot more sense to me. It’s not logical to include all historical given charters into the charterholders list especially how the Institute is so uptight on the definition
Start flocking to the CAIA. There’s only about 5k of us.