Did anybody get the CFA Proxy Voting Materials from the CFAI?
What was suprising to me was that they disclosed compensation for the CEO, COO, etc on page 10. I think its very hard to make their salaries in academia or even the private sector unless they are pretty high up in the food chain.
I might have to shoot them over my resume and become a career CFAI official.
How much do they make then?
CEO made 600k base, 540k bonus from what I remember seeing
Yeah, I was surprised that they made so much. There’s a section in there that tries to explain why, but all I understood was “blah, blah, blah”
The problem is the execs at CFAI are probably measured against increasing the revenue of the Institute, which is easiest done by having more people do the exams, which eventually leads to dilution of the value of the charter. I bet CFAI from a financial perspective would like to see every man and his dog wielding the charter, which does nothing for existing charterholders. Just sayin’.
^ Agree, as members we need to get together and fix this to try and keep the somewhat exclusivity it still has.
Occupy CFA Institute?
Hmmm… apparently I’m going to need to read the proxy info.
How do you think they should be measured, then? Some sort of gallup-esque poll that measures the perceived value of the charter in the finance industry as a whole?
Well, I’m not sure, but is it appropriate that the execs of a professional organization, which exists only to serve its members, are remunerated based on the amount of dollars coming in through the door? Is that likely to result in outcomes that are in the members best interests, or in managements?
It’s not just CFAI. Heads of non-profit organizations can make a lot of money! Apparently, the head of the “Wildlife Conservation Society” gets paid around $725k. The CEO of NY Philharmonic got $2.6 million in 2010. Other museums, charities, or research societies give similar pay. Here is a list, but you can also find information on the internet.
[http://www.charitynavigator.org/__asset__/studies/2010_CEO_Compensation_Study_Revised_Final.pdf](http://www.charitynavigator.org/ asset /studies/2010_CEO_Compensation_Study_Revised_Final.pdf)
At least there are no more referendums for making it easier to fudge the MPS or cheapen the work experience requirement this time. Does anyone rememember if those were passed last year? I know many societies were opposed, even though CFAI recommended that members “vote affirmatively” in the proxy.
I remember those. They were voted in though weren’t they?
On the matter of salaries, I’ve got no problem paying Jim a million a year for his time, I just don’t want to see his bonus linked to increasing revenue through additional member dues or more exam takers. If his KPI was adding value to the CFA brand or similar, then I’d be happy with that.
You’re preaching to the choir. I just don’t know exactly how to measure his performance