Having done my CFA and FRM, I am sort of interested in taking the exam in the future. I checked out the fees and found out that the program is, for a guy who has no corporate sponsorship, quite expensive, and the annual membership fee, once chartered, is pretty pricey too, compared with that of the CFA and FRM. I do not understand why CAIAA chooses to segment the markets by giving 25% discount to AIMA/CISDM companies – the members who probably do not care about the discount anyway. The pricing kind of sends out a signal that CAIAA probably does not want to attact too many college students or people who are not currently working in the industry, right? People who are outside might be more likely to pay for a higher ticket price than those who have already got in? Going forward, with the hedge funds hammered and the sword of regulation hanging around, how do you make of this charter? Thoughts?
I haven’t really put a lot of thought into it, I am studying for CFA-L1 in June, but overall the CAIA can be many things to many people. One thing that a lot of people on this forum agree on is that it is not your golden ticket inside a hedge fund. For me the CAIA is a great supplementary based knowledge I can take with me across job functions. A lot of people on this forum who already have FRM & CAIA say they don’t even use the letters/pay the dues. It’s interesting for sure. What are your reasons for wanting to take another test?
I would disagree with cfacowtown that CAIA is a gold ticket into hedge fund because i see these designations, FRM and CFA included, as something that is good to have. It shows that you are ambitious and not retarded but it is definitely not a gold ticket. I have worked within the hedge fund industry for over 2 years now and, to be honest, people view what you have done in the industry much more than these designations. I am by no mean saying these designations are useless because i am doing it myself and have passed CFA lvl 1, enrolled for the Full FRM exam this november and passed the CAIA lvl 1 last march. I will continue my journey with the CAIA next march once i get the FRM out of the way but i may not pursue the CFA any further. You may ask why am i doing so many if i dont rate it that highly. The answer is that it looks nice on marketing material and it is free since my company is paying for all of it. Don’t think my company or i think it adds to knowledge but it definitely adds to the marketing side of the business. I see that you have completed the CFA and the FRM, i honestly feel you are well equipped in terms of designations and don’t really think you need to get anymore. I see your frustration in the prices of the exam and i would have not done the exam if my company was not going to pay for it. I think the 25% discount is aimed to encourage people within the industry to study more. I think it acts as an encouragement for people like myself who are currently working in the Hedge Fund and PE industry to add to our experience with professional designations.
I totally agree with what your saying tfyim. If you reread my first post, I said that the CAIA IS NOT your golden ticket into hedge funds. All else aside, your point about what you do and not what letters follow your name is very true. For some, those letters open doors that allow them to do those things that set them apart, and others its a confidence thing or maybe even an entertainment thing.
Apology cfacowtown, i enjoyed reading your post but unfortunately misread your article and that one word “not” made a huge difference. Sorry mate
No worries, the response was still entertaining.