CFA annual dues reimbursement?


I am a long time reader, first time poster to the forum. I wanted to see how many people receive reimbursement from their employer for their $275 CFA annual dues?

I work at a large investment bank in an IB related role and I am the only one in my group who has the charter (I earned it prior to joining IB). I’ve asked my firm to reimburse my CFA annual dues, and thus far they have declined based on premises such as “your boss doesn’t have ihis CFA” and “if you didn’t have the CFA, you’d be doing the exact same job so why should we pay for this.”

Do most people get their annual dues reimbursed by their employer? Additionally, has anyone had a similar encounter and how did they handle it?

Just pay the dues you fkin’ cheapass!

If I had to pay out of pocket, I’d likely deduct it on my taxes as an unreimbursed business expense.

When I actually join my local society, they have so many luncheons I’ll likely be able to eat back the fees.

I work at a large investment bank in an IB related role

$275 shuldbe a drop in the bucket for u bro

totally agree. pay faster, less whining

I work in corporate finance (more accounting) but I negotiated specifically that my exam costs and any licensing would be covered, so in my case yes. Probably had I not specifically asked for that when I came to my company then I wouldnt get it (since it isnt all that recognized of a designation in my world).

u said during negotioations that if they dont pay your dues u wont take the offer?

Well, when I was negotiating it was almost 8 years ago so I hadnt even taken level 1. At the time the my stance was they would pay reimbursement of exam costs, study prep costs (these two assuming only I passed), and any potential licensing costs. The licensing was a small cost in comparison…

And I dont think the language ever got to an ultimatum…i.e. you do this or else I will do that. It was just a negotiation…

Any employer worth their salt will pony up. Pay the fees, submit your expenses.

Most buyside places pay for it but I’d be pissed off too if my employer refused.

Your company should pay, I would submit the expense report and have some reasons why it’s a good investment for your firm. Maybe you shouldn’t have to remake your business case every year when the dues come up, but have your talking points on why it helps the firm to have a charterholder.

fugging cheapskate. I make less than you and I had no problem paying it.

If your firm has a problem paying what’s probably less than a quarter of a percent of your salary for your professional membership, then that’s pretty sad.

^Yeah, but if the firm gets no benefit out of it, then why should they pay? Regardless of how trivial it is?

Let me also add that I don’t think the OP is whining. He’s just simply asking the question about whether or not anybody else receives any pushback.

My firm provides automatic pay raises with each test passed that more than cover registration for a new exam and annual CFA fees.

My employer pays for my dues.

mine pays for my local and CFAI dues. They paid for exams and any materials I wanted too.

My company pays mine, and I’m in corporate

Thanks for all of the responses.

I’m curious what people in a similar situation would argue for why having a CFA charterholder provides value to the firm? In my view, “your boss doesnt have it so you clearly don’t need it” and “if you didn’t have it, you’d be doing the same job” are pretty big shut down arguments. I obviously also couldn’t tell my boss, a non-CFA holder, that my charter provides me better skills than others on the team.

It seems the only argument is that it is a globally recognized financial credential and having it enhances my skillset and therefore provides value to the firm.

Any other thoughts?

My boss isn’t a Charterholder and CFA is only remotely related to a portion of my work. The reality is quality shops of any type support the professional activities of their employees. I don’t think its a firm value for money question. Its purely doing the right thing for the professionals you employ. That said, if you’re just a cog worker than perhaps the firm doesn’t give a damn about your professionalism. Hence why I then suggested that’s probably not a great shop.