The educational value aspect of the CFA is definitely still there. It won’t get your a job or help you stand out much because so many resumes have “passed level 1-2” these days. You will look more favorable compared to those who aren’t pursing it at all though.
Why should certain people not be allowed into the program because their firm doesn’t want to pay for it, or they can’t afford it? Its an educational tool, not something that gives you the right to do something like a CPA or the Bar. That would severly diminish the number of people who complete it. Many people either can’t afford it, or they don’t have time/desire to do it. Ultimately it would have the opposite effect, in my mind, and too few people would have it so the program would go to the back of people’s minds. I think people are continuing to not think about how many of people actually make it through the entire program. Many many try, and few succeed. People who are worried about the dillution of the CFA are just as bad as the people who are worried if it will get them a job or not. You are worried about how it effects your job status just as much as they are. You have to think about it simply as education and a way to gain knowledge, not as a way to get a job. Most of the people that try to use it as a tool to get a job are just looking for a quick answer and will be quickly weeded out. Besides, the more people that can attempt it means the more people know its difficulty.
i have met very few people who have their CFA and do not “use” it… i think that’s all that matters. the only question is if work experience was analyzed properly and i can only assume CFAI knows what they’re doing. you at least have to be doing something that sounds like you are attaining CFA relevant experience to get the charter. if a few accountants end up getting the CFA, i wouldn’t worry too much about it. there are plenty of CPAs and CAs who work in CFA-relevant finance roles (analyst roles, IB roles) so the CFA may not do a whole lot for them anyway. if completing the CFA has gotten you a position where you can use the knowledge gained in acheiving the CFA, the CFA has done its purpose and there is no “dilution”. yes, there is massive growth in ME/Asia but their market cap and depth of bond and equity markets are growing at extreme speed and their service sector will grow faster as a % of GDP than any other sector, i’m assuming.
I don’t think you guys are adjusting for preferred dividends
It’s ridiculous to try to limit access. If the individual is dedicated, disciplined and determined enough to pass all 3 exams, and in addition has the relevant work experience, then that individual deserves the charter.
We should push for a CFA as a legal requirement to be an equities analyst or PM, much like you need a medical degree to practice medicine. That would solve all the complaints about people with a CFA trying to find a job.
Fraser Wrote: ------------------------------------------------------- > I don’t think you guys are adjusting for preferred > dividends I chuckled
Their analysts, they don’t know preferred stock from livestock.
newsuper Wrote: ------------------------------------------------------- > We should push for a CFA as a legal requirement to > be an equities analyst or PM, much like you need a > medical degree to practice medicine. > > That would solve all the complaints about people > with a CFA trying to find a job. I agree!
Strange to see the free market crowd advocating government regulation to create barriers to entry and protect existing industry members from competition. Well, not so strange, perhaps.
Frankly, I cannot believe that people are comparing equity research to medical science…
bchadwick Wrote: ------------------------------------------------------- > Strange to see the free market crowd advocating > government regulation to create barriers to entry > and protect existing industry members from > competition. > > Well, not so strange, perhaps. Aahhaahahahahahahahahhhhaaa!! Nicely done!
newsuper Wrote: ------------------------------------------------------- > We should push for a CFA as a legal requirement to > be an equities analyst or PM, much like you need a > medical degree to practice medicine. > > That would solve all the complaints about people > with a CFA trying to find a job. union leader… bchadwick Wrote: ------------------------------------------------------- > Strange to see the free market crowd advocating > government regulation to create barriers to entry > and protect existing industry members from > competition. > > Well, not so strange, perhaps. meets management.