Does anyone know of firms (either their own or another) that pay a bonus to someone when they complete the CFA? Someone told me Goldman pays you $25K when you pass and others have said many AM shops pay $5-$15 bonus. What is everyone else hearing?
So check this out. I passed yesterday, 3/3 in 18, and I tell my boss. He must know that I am looking for a job, because he says to me, “Just remember how much we invested in you to help you succeed.” Really? They didn’t pay for anything or give me any time off to study – didn’t invest squat. So no bonus for me, just some insulting commentary. Fck this place… there is a reason I am looking for a job.
$5k per level is what I’ve seen out there. The $25k at Goldman seems a bit high from what I know, but it could have changed.
Nothing in my firm.
0, and i payed for my own exam 
I work in equity research for a sell-side firm. My company pays for all CFAI fees but not for additional study materials (Schweser, Stalla, etc.). No bonus for completing any levels.
Z-star - when I was on the sell side, we got the same deal. It was explained that the “bonus” was that you got to keep your job. They did say it factored into year end bonuses, but how and how much wasn’t known.
Goldman certainly pays for exams, study materials and classes, but I never heard that they pay bonus for passing. Not at the group that I used to work for at least… My current company does not pay any bonus for passing either. Oh well… I am still glad I passed
Biggest bonus for me is the liability reduction for 2009.
I think my firm pays 1K when you finish L3. I need to enquire with my superiors about this. One of my bosses said she thought the firm did but she got hers about 10 years ago so things could have changed since then. The bonus is kind of irrelavant but I wouldn’t turn it down:) I heard a rumor that WF pays 10K upon completion.
Passing would have given me an annual pay bump of about $8,000. Oh well, next year.
BigB - I’ve been there before. Insult to injury. You’ll get it next time!
comp_sci_kid Wrote: ------------------------------------------------------- > 0, and i payed for my own exam Me too
XSellSide Wrote: ------------------------------------------------------- > Z-star - when I was on the sell side, we got the > same deal. It was explained that the “bonus” was > that you got to keep your job. They did say it > factored into year end bonuses, but how and how > much wasn’t known. Yeah, that’s the same explanation I got. There are so many things “factored” into our year-end bonuses that it’s impossible to calculate each factor’s contribution. Bottom line, they pay you what they want to pay you. That’s the tough part of ER versus sales or IB where one can point to actual trades for deals they worked on. I’m pretty stoked to still have a job at this point. A lot of people have been let go this year.
The California retirement systems (CalPers and CalSTRS) pay a 5% bonus every year if you have the CFA Designation.
In my case, ill receive more bonus % and more stock options…and $10k. They pay for my test and my trip to take the test, but they dont pay for shweser’s.
bromion Wrote: ------------------------------------------------------- > So check this out. I passed yesterday, 3/3 in 18, > and I tell my boss. He must know that I am looking > for a job, because he says to me, “Just remember > how much we invested in you to help you succeed.” > Really? They didn’t pay for anything or give me > any time off to study – didn’t invest squat. So > no bonus for me, just some insulting commentary. > Fck this place… there is a reason I am looking > for a job. i would have said exactly that i.e. “how did you do that when you didn’t pay for anything or give me any time off” but i seem to have a problem with authority. i got a 10% raise when i passed.
My old place gave $1k per level now $0.
yeah and my boss says what’s CFA… actually I dont blame him, I work in engineering field… but now he realizes I have a lot of time on my hands over the weekend to have got bored out of mind and take not just one but three six hour exam in a Greek and Latin (as far as he is concerned)… so not seeing more work is in itself a bonus…
My prior firm would drop $10k upon completion (aside from subsidizing all study materials). Last I know they were considering raising it to $15k. Not bad considering that some places just congratulate you, cheap punk a$$es.