https://www.linkedin.com/feed/update/urn:li:activity:6384490338278469632
What a total crock… discuss.
A tad too late for us… but, I think Level I CAIA gave us some know how which was not covered in CFA or CAIA II… if you are looking for the full knowledge there is a possibility you may miss out on some knowledge base… but then again they may change some of the content to tailor this…
Agreed. If someone wants credential X, they should take and pass all of the requirements like everyone else. College already has all sorts of BS exemptions and carve-out’s for reasons A-Z, which is why I pursue respected credentials over the diploma mills today’s universities have become.
no bueno.
Yeah, I saw this today while I was on the CAIA website.
Not thrilled about it as I agree with the above comments. With all due respect for the CFA Charter, CAIA level I depth is not covered within the CFA curriculum. Additionally, I think it waters down the credibility of the designation (which is typically measured by the amount of efforts that must be put in to achieve the designation, like the 3-4 years with the CFA Charter). What is really interesting is that the CFAI never offer a free ride to any other designation or even postgraduate degrees, even if you have a PhD in finance!! this is what earns the CFA its high reputation. I do not think it is fair, my 2 ¢ .
I personally think they should have consulted with current enrolled candidates first before deciding on this. They also should have consulted current charterholders to get their views. The university linkup I feel is great.
I also feel CFA does not delve into certain topics to grant an exemption and agree that CFA will never grant any exemptions.
It seems to be going the CIPM route where you get exemptions for L1 exams.
+1 here.
I think it is good to share this feedback with CAIA. I would encourage us to reach out to them directly. I have already done so.
First impression - upset and unimpressed
they have really cheapened the designation imo. CFA was and remains the gold standard. I had hoped the CAIA could eventually become a solid B level.
It now seems that if you complete the CFA you essentially get the CAIA at half off. Does it come with fries? Lol They will increase the number of people getting it but at a huge loss of respect for it. It seemed to me they were increasing the difficulty of the CAIA and have reversed course. Maybe they just fold it in to CFA as like a specialty module
I am upset because I don’t have the CFA and really don’t want to get it based on my job function and career position. I was looking for a solid credential related to what I do and thought I had found it. Now i fear I have wasted time and effort on something. Hope I am wrong
only allowing 500 per exam sitting. 2-8 exam cycles so I read it as maximum of 4000 candidates this way.
500… but how many people take CAIA per exam sitting? They never release that info, but my guess is that it’s not as many as you think.
Thanks for the feedback, everyone.
I’m pretty miffed by this and wholeheartedly agree that CAIAA should have polled existing charterholders as well as candidates to get their feedback prior to completely devaluing the designation without consent. It’s essentially a money grab, if you think about it. Every CFA charterholder i’ve spoken to about this that has yet to sit for a CAIA exam basically mirrored each other’s sentiment in that they “have” to take the CAIA now given that it’s only one level, essentially. Removing a hurdle is not synchronous with a renowned designation; it cheapens the face value and diminishes the hard work of others.
I could be overreacting, sure. However, unless CAIAA significantly bolsters the difficulty of L2, i feel that this is a pretty unsavory move, in my humble opinion.
I wrote an email to CAIA and am trying to get a call schedule. I will keep everyone posted if I hear anything. I would encourage everyone to do the same. It is important they hear this feedback.
I am writing an email to CAIA right now. MrNoFear, how do you get a call scheduled with them and with whom so I can do the same?
I agree that we need to let them hear our voices and our frustration. Keep pressing.
I just reached out to the team through their website:
There is an option specifically tagged with the Stackable Credential Program. Maybe try replying to the email that was sent out as well. Usually, the team is fairly quick to respond.
Well, as a CFA charterholder who just passed level 1 of the CAIA … this sucks!
This really, really cheapens the designation, if not making it as totally worthless as the CIPM!
Thanks MrNoFear. I just requested a call. I am drafting an email and will be emailing it tonight. This is really frustrating. even if it is a pilot program, this will dilute the credential in both the short and the Long term, if they decided after the Pilot that it is profitable enough. 4000 level II candidate (under the new pilot program) x $1150 (early registration and Level II exam fees) = $4.6 Million, Pretty lucrative “Pilot”.
If this is the new way of doing things - let’s just let anyone w/ a 4 year finance degree and a 3.0 GPA go to the level 3 of the CFA!
This. I see the move as a way to quickly increase membership and therefore fees/dues. By making the program more attractive (easier to attain) to current CFA charterholders, more people will be lured into the program, therefore increasing revenue for the CAIAA. They’re also piggybacking on the goodwill of the CFA designation, as people taking advantage of this program will now have , CFA, CAIA on their busines cards, email signatures etc.
Maybe I’m jaded because I’m one of those CFA charterholders who just passed Level 1 CAIA in March as well. A heads up would have been nice.
Announcement made a day after receiving a pass on level one…how bittersweet…nah, actually just bitter now!! Just sent an email to CAIA as well…
What the hell is CADA? Is it supposed to teach data science or something? What is going on with this organization???
Frustrating. Having just passed CAIA LI it was good for career but bad for amount of time I spent away from kids.