I just got my reimbursement check, for $ spent on CFAI Level 1 books/registration/exam fees + the $300 on schweser Qbank…total around $1,300. Naturally, all proceeds went to L2 …but i guess i can buy more study materials this time without feeling too much of a pinch Is there any lucky people like me?
100% out of pocket for me
Just official books and exam fee for me, but I don’t have to pass.
I just charge stuff like this to the corporate card and hope that no one asks questions.
ohai Wrote: ------------------------------------------------------- > I just charge stuff like this to the corporate > card and hope that no one asks questions. Haha. I am only reimbursed when I pass. I passed LI and was reimbursed the $1,100 or so but failed LII this year ($600). I suppose I failed at the right time.
must be nice…i gotta find a new job
HAHA!! I like your style!!
I am able to get all training courses,study notes and exam fees and membership fees covered - basically everything.
I get 50% back when I pass… but I expensed everything from my hotel, BAII plus, parking & etc. Added up to $1,800 And I got a $3,500 bonus for passing level 1
Systematic Wrote: ------------------------------------------------------- > I get 50% back when I pass… but I expensed > everything from my hotel, BAII plus, parking & > etc. Added up to $1,800 > > And I got a $3,500 bonus for passing level 1 that bonus a month and a half of work for me.
$0 dollars . Am from a poor nation
What business gives you a bonus for passing?
“What business gives you a bonus for passing?” Do U mean, where do I work? I’m sure alot of places do this. Obviously finance only businesses.
I was reimbursed the $1,000 I spent on registration and study material. CFA is not reimbursable under my companies policy but I asked my manager and they made an exeption. Sometimes it doesn’t hurt to ask.
all out of pocket. If I was an employer, I wouldn’t pay employees to pass this either; in fact, I would only hire people who’d already passed all 3.
magicskyfairy Wrote: ------------------------------------------------------- > all out of pocket. If I was an employer, I > wouldn’t pay employees to pass this either; in > fact, I would only hire people who’d already > passed all 3. If this was the case, would you be employed?
For back office and administrative work I would just hire college grads, and people studying the CFA. I do admin for an international bank, and they don’t help me with shit, and my work experience does not count to CFA. I am not even remotely being considered for analyst positions because I don’t have the MBA/CFA combo yet, and don’t have analyst experience. Actually, every analyst position I ever seem to come across requires 3-5 years of analyst experience. I don’t resent that even a little bit though. I don’t think anyone should get hired as any kind of financial/portfolio/equity/fi analyst, in my opinion, unless they either already have a lot of experience doing it, or have a massive amount of education to compensate (ie they’ve finished these exams and an MBA too). However, I don’t think it should be possible for someone to be in a position to have experience without this education because to have been hired somewhere in the first place, they should have had the education to overcome their initial lack of experience. As an employer, I would do just like my company is: I wouldn’t invest in my people’s education because there is no need to (I can just hire someone who’s already got the CFA done, and an MBA). As an employee, my hope is that once I’ve finished these exams, an MBA, and a couple other easier designations (like Canadian Investment Manager designation, which I already hold), I can get an entry level analyst job somewhere (internally or externally). There’s really no need for an employer to ever hire an analyst with anything less than MBA & finished CFA exams. If someone who doesn’t have that stuff would be a great analyst there’s still no reason to hire them because, as I said, I can just hire a great analyst who already has the education too. Let the uneducated guy prove that he’s serious about it first by finishing the exams and getting an mba too.
This is like saying, “If I was the GM of the a baseball team I would only have players that have hit .300+ and 30 hr’s, there’s no need to draft college players and develop them” Cost is an issue no matter where you work. If you can hire college grads for $40k to do a job comperably to someone who’s passed all 3 exams for $80k, you don’t have much need to waste the money on the $80k job. If you plan on this person running the company someday things are different. But for the most part if its an entry level job that doesnt require CFA or MBA you may just be wasting your money. magicskyfairy Wrote: ------------------------------------------------------- > For back office and administrative work I would > just hire college grads, and people studying the > CFA. I do admin for an international bank, and > they don’t help me with shit, and my work > experience does not count to CFA. I am not even > remotely being considered for analyst positions > because I don’t have the MBA/CFA combo yet, and > don’t have analyst experience. Actually, every > analyst position I ever seem to come across > requires 3-5 years of analyst experience. I don’t > resent that even a little bit though. > > I don’t think anyone should get hired as any kind > of financial/portfolio/equity/fi analyst, in my > opinion, unless they either already have a lot of > experience doing it, or have a massive amount of > education to compensate (ie they’ve finished these > exams and an MBA too). However, I don’t think it > should be possible for someone to be in a position > to have experience without this education because > to have been hired somewhere in the first place, > they should have had the education to overcome > their initial lack of experience. > > As an employer, I would do just like my company > is: I wouldn’t invest in my people’s education > because there is no need to (I can just hire > someone who’s already got the CFA done, and an > MBA). > > As an employee, my hope is that once I’ve finished > these exams, an MBA, and a couple other easier > designations (like Canadian Investment Manager > designation, which I already hold), I can get an > entry level analyst job somewhere (internally or > externally). There’s really no need for an > employer to ever hire an analyst with anything > less than MBA & finished CFA exams. > > If someone who doesn’t have that stuff would be a > great analyst there’s still no reason to hire them > because, as I said, I can just hire a great > analyst who already has the education too. Let the > uneducated guy prove that he’s serious about it > first by finishing the exams and getting an mba > too.
I concede that your point is pretty good, but baseball isn’t really the kind of occupation where you can derive promise from somebody’s excellent textbook/classroom based grades and certifications. It would be strictly based on how well they play the game that you would decide to put them on your team, and to your point, their potential to be even better. Baseball isn’t finance though. We can’t just start I-banking or analyzing in a league somewhere, and hope to go pro if we do well there. For analyst jobs, there are way more people with the education than there are analyst positions (for financial/portfolio/equity/fi analysts anyway). So sure, for stuff that’s not that complex, yeah, hire the kid for $40 K, even $35K. But there’s no point in paying for his/her education, cuz when you need actual analyst stuff done, that’s when you get someone for $55K who’s got an mba and finished the CFA exams. Economy’s rough now, so you can get away with hiring someone for that little. Here’s an example of a job posting internally I got turned down for. It was for a portfolio analyst position, and these were the requirements they posted: Requirements: • Undergraduate university degree in a business related field of study (i.e. commerce, economics); • 2-5 years experience in the investment industry; • Completion of the Canadian Securities Course (CSC) and ideally the CIM designation; • Enrollment in or completion of Level I of the CFA program would be an asset; • General understanding of the legal and investment regulatory environment in Canada would be an asset. That last bullet is fluff, but as for the tangible ones, I had every one of them, AND my manager put in a good word for me. However, my experience was not analyst experience, so I didnt even get an interview. I have no idea what the job paid, but the guy they ended up hiring was some external guy with full CFA (not sure about MBA). In my many months of job searching, I’ve never seen a posting for “junior investment analyst - no experience necessary” and I never will. Like I said, for $40g (maybe 45), they can hire someone who has medium experience and education, or extremely good education, but no experience. There should be no such thing as an analyst with great experience and weak education/credentials. You don’t need to hire an analyst who’s got less than that.