It’s a standard rate for the hustle. I suppose it’s an individual thing. If you feel your earnings have gone up by associating with the CFAI or that you gained in other measures, then sure. If you feel you haven’t gained anything and your life would be the same without CFAI then its probably not justifiable.
if you could hypothetically provide a breakdown of the annual fee, what would be included in it?
IMO, if the hundreds of hours of studying, stress, and general mind numbing state that we go through for years is worth it then yes the fee to use the designation is worth it. In my case my employer pays the annual fee. But if I ever leave, I’d pay it myself and think it was worth it.
i would think it’s worth it.
Without paying the membership fee - I can’t add CFA in my email sig.
I like having the letters in my email sig
therefore, yes, worth it.
That’s level 1 cost/benefit analysis stuff.
Plan to decide on the worthiness after 1 year.
Firstly, my new job does not provide bumped up salary.
Secondly, looking forward to the networking to see how many new job offers I can get.
Yes it is. The fee is not that high and you get quite some benefits out of it (like the app).
I too will decide after one or two years. See if I can network, establish contacts and find a new job. If not, I’ll discontinue paying and being a member.
Btw what am I if I discontinue paying? CFA Level III passed? And if I want to reapply for whatever reasons will I have to go through the whole process again, or just pay the fee?
I believe just ‘CFA Level III Passed’ and once you pay the fee you don’t need to go through the whole process again.
Get a new job if a few hundred dollars seems too high. CFAI is non profit and publishes financial statement every year that is in public record. You can see where your dollars are spent (rubles, rupees…). Most of the value for most professionals is the work done in supporting the brand.
yes i might consider looking for a new job.
my primary motive in enrolling in the program was because of the learnings about investments, the financial markets & its economics etc. and not really because of the three letters.
just asking people here if having the CFA designation in their email signature or business card is really worth the price
Yes it is valuable for you and your organization. Specially if you are in a front end role,you talk to clients on a regular basis (consulting/IB) and bring more business.
Who cares? Doesn’t your company pay it for you?
nope. it does not and if it does, they’d probably require everyone to be tied up for a year…for a $100+
I know several people who doesn’t bothered to pay the fee, but still use letters after their name in social media (LinkedIn). Does the Institute even care?
They do care and have heard of cases where they get people to screen social media for these cases.
You should report these people to the Institute if you know any.
That question is the dumbest thing I’ve ever seen in this venue. For starters, think about the opportunity cost you incurred in obtaining the designation. One studies for hundreds of hours, and now one wonders if a low-three-figure (USD) annual membership fee is “justifiable”? Good grief. Anyone who asks that question after passing the three exams is in the wrong line of work.