CFA Fees are WAY too high

I verified this with the CFA. You don’t have to pay the local chapter fees to maintain the CFA designation. SO the total cost is “only” $275!

Okay, that is more reasonable. I still wonder what they are doing with $275.

How the amount of the due was decided ? Who decided it ? Anyone can advise ?

If you don’t bother with the local society, then the $275 is very reasonable compared to many other professional association fees. My annuals dues as a professional engineer are not much different…

Actually, in the case of an engineer, it can become quite a bit more expensive if you have to start having licenses in multiple jurisdictions (states/provinces). At least the CFA is a single, global designation.

CFA dues are peanuts compared with actuarial designations (specifically FSA, FCIA) or - as I’ve heard - CGA (I think this may be a Canadian only designation…)

dont they provide 4-5 visits to 5 star hotels free of cost per annum . That way costs can be recovered

Fees for FSA’s are $630 for US residents and $575 for residents of other countries but I guess that this is justified since there are rules that require documents to be signed by Fellows whereas in the case of the charter, it’s just nice to have and not a must have.

To the OP, I completely agree with you. Please stop using the designation immediately and avoid paying the fees. Please do not associate with any other Charterholders or waste a single keystroke on any other forums – I can tell you that your path is 100% spot on.

As a paying Charterholder who doesn’t waste any time counting nickels and dimes in a long cashier line, I can tell you that folks like you exiting the Charterholder pool will only vastly improve the credibility and likeability of the remaining members. Thank you for volunteering to thin the herd, friend.

I actually want the CFAI to increase fees and start recording the exams. The CFA program is a lot, lot cheaper compared to some of the best hacksaw graduate programs out there. When you consider the practicality of the topics and the overall returns, it is phenomenal value.

the fees are a write-off and you get 6 copies of FAJ and 6 copies of your Society’s magazine. Without the CFA designation, I’d end up paying over $100 a year in magazine subscriptions anyway and wouldn’t have any letters to put after my name. as long as they remain under $500 in today’s dollars (currently are $425 where i’m at), i have no complaints. call it a charitable donation if you want and move on.

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all professional dues are expensive, same for accountants, same for lawyers, etc.

but i don’t complain about it since i don’t have to pay it :-S

Agree my friend, the fee is ridiculously high for what it offers. I mean the designation is nothing but a shining badge in your CV. If you really want to move on then focus more on achivements at works.

Don’t renew. That’ll teach 'em.

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Exactly. There is value in the FAJ (I like reading the paper stuff). There is value in the advocacy and research work the institute does. All this stuff adds value to the designation we’ve earned and it costs money to do these things.

I find the fees quite reasonable. Honestly if it’s not worth it (to the OP) to be part of an organization that participates in such activties, then don’t pay. To be honest, the amount of work CFAI does globally is far more than most professional organizations that charge higher fees.

Stop complaining!! You have something that a lot of other people desperately want. After all you went through to pass those tests (which are a bitch), who cares if it’s $475. It’s an accomplishment and something that you achieved. You’re probably making enough to cover it anyway.

OP raises some valid questions.

On the other hand, any organization is going to charge whatever price maximizes total revenues. And being able to write “, CFA” after their name if worth $475 to most people, especially since most employers will pay for this.

Today, there are more CFAs then there are CFA-type jobs, so merely having the designation doesn’t open many doors. Maybe someday in the future this balance will change, and the designation will be worth more.

One way to reference the CFA without paying ~$475 per year to keep your membership current is to write in your bio: “Markbot was awarded the CFA designation in 2004”.

$1.30 a day to call yourself a CFA charterhodler!

Annual dues to memberships are a part of business, just like having to wear a collared shirt and showing up to work on time.

Deal with it. Either pay dues or don’t. Either way, stop bitching about it.

Are you allowed to use weekends in that calculation?

Sure, when you are sitting at home on a Saturday watching some TV, and think to yourself, “I am a CFA charterholder”…

you have to pay for that privelege

I agree that seem too high for renueing your membership which i never been experience.In Finland country i use to be an accountant in a accounting firm or (http://www.accountdata.fi/)]tilitoimisto espoo and in 3 years of being accountant and when i use to study it i never experience that .Sorry that i can’t give some advice or suggestions.