Dear CFA® Candidate:

“Applying and being accepted for regular membership with CFA Institute and a society is a requirement for earning the CFA charter. If you took the June 2008 CFA exam, the results will be available in August, but we strongly encourage you to complete your CFA Institute and society membership application now to avoid any delay in receiving your charter. Please note that the application process may take up to 12 weeks.” Why would they “stronlgy encourage” this? Is this so that they can collect an extra year of fees from the 50% of people who fail the exam? Short of attending a luncheon or similar event, is there any reason to become a member prior to passing the three exams and accruing the work experience? Maybe I am too cynical.

i think they are trying to give you a hint that you passed.

it’s all about the $$$$$ when it comes to the CFA Institute

It doesn’t mean you passed. It means they want your $$$.

I have been a member for 1 year and am awaiting level III results. The only benefit I have seen is the job postings sent by my local society. I actually got 2 good interviews from it, but no job. I still think it has been worth it as I don’t think the firms posted the jobs anywhere else. If you are not seeking a new job and do not go to the local society events then it probably doesn’t make sense to join unless you want to speed up the process if you passed.

Every Level 3 candidate received this email?

Similar to paying for the mock exams, I speculate that perhaps the CFAI wants everyone to think that “becoming a member early can increase the chances of passing the exam”. After all, becoming a regular member of the local chapter does allows access to seminars at reduced costs for members on many topics likely to be on the exam (i.e. social responsiblity, hedge funds, etc.) I recommend everyone join ASAP and give all your $ to the local chapters ASAP. There are a lot of local chapters in need of your money to financially support themselves during the recession. Besides, it is a not-for-profit organization , right?