I am in a bit of a rut at the moment in regards to paying for the enrollment of L1. It’s just over $1,000 and i just finished university so i’d prefer to keep that grand if i could as i make an average undergrad salary. My current employer paid for the remaining university courses that i had to take to graduate, which was very nice, they will also pay for any accounting designation i wish to pursue as i am in Accounting. Now on the flip side, there have been two people who worked for the company that wrote CFA L1 and the company paid for it, they quit shortly after. I was talking to a coworker about writing L1 as my manager walked by (who approves whether or not you get funding for education) and asked me whether i am going to write L1? I said “yes”, and he said that both people that they paid the L1 for quit right after in a joking/serious way. I didn’t expect them to pay for it to begin with as they only pay for courses related to the job, Accounting designations and MBA’s, then i heard that 2 people got sponsored for the CFA as well even though it’s not really beneficial education towards our job (at most it’s minimal anyway). Should i still ask, or just fork out the money and leave it at that?
Who can tell? You know your own manager best. Rely on your gut feeling and decide.
you have to stick your neck out. who is going to look out for #1 if you don’t?
it can’t hurt. what have you got to lose?
Of course ask for it, you are not going to get fired for asking for sponsorship. They should sponsor it as there is a lot of accounting overlay.
I just tried to ask my boss and they are iffy on it as I am not doing CFA type work now, so it does not apply to my current role. What gets me is the company is all about “career development,” but if you are not working in that area, they really don’t care to develop you. It’s really unfair. If anything, I will have to pay for it myself, but it’s worth it to get out of here
Why don’t you write the test, pass, then ask the company to re-imburse you? You do have a credit card, right?
You’re complaining that your company won’t compensate you for taking a test that isn’t directly applicable to the part of the business you are in? Nevermind the fact that they have seen a trend of people getting the firm to pay for the test, and then leaving. Why not offer to pay them back if you leave within one year? That should help allay some of their fears.
Wouldnt be good of he couldnt pay his credit card though, now would it?
If he can’t make the minimum on his credit card for a few months, he should probably re-evaluate things.
jalmy8 Wrote: ------------------------------------------------------- > Wouldnt be good of he couldnt pay his credit card > though, now would it? The CFA isn’t free and why should a company pay for it if it isn’t applicable to the work the person is doing? Again, easy way to resolve this is to offer to reimburse the company if you leave within a set period of time. This doesn’t resolve the issue that it doesn’t have much value added to the employer, but it does squash another concern.
Your company isn’t obliged to pay that for you, although it would be nice. $1000 isn’t all that much, when you consider that CFA will almost certainly help raise your salary by more than $1000 if you stay within the industry. (also, given the passing rates, I’d recommend taking one of the Stalla or Schwesser courses). I understand that keeping a grand in your bank account would be nice at this stage, but I’d recommend standing back and look at the bigger picture. If your company doesn’t pay it, maybe ask your parents to help you out with a loan - it will be cheaper than a credit card, and if they can afford, they’d probably be happy to help you in that way, if you point out what CFA is and what kinds of positions look for that designation.
My company makes me pay back 1/3 if I leave after 2 yrs, 2/3 after 1 yr. I don’t work at the best company mind you.
Ask for it- I’m recent grad with a less than stellar salary and I really want my employer to pick it up. It doesn’t hurt to ask. In my case though the company will pay for it (and other post grad work) but you have to pass and stay with the company for one year after you pass. If you decide to leave before a year after the test date (or pass date, not sure which one), you have to reimburse the company. Don’t get me wrong, $1,000 is a lot of money but I hate my job and don’t plan on staying here for a year after June '08 so I have to fork it over. If you are SURE you plan on staying with your comp for over a year maybe you can suggest to your manager that he implement a policy like the one I mentioned. It will end all speculation on your intentions, he’ll appreciate your transparency, and will prob implement the policy.
FIAnalyst Wrote: ------------------------------------------------------- > You’re complaining that your company won’t > compensate you for taking a test that isn’t > directly applicable to the part of the business > you are in? Nevermind the fact that they have seen > a trend of people getting the firm to pay for the > test, and then leaving. > > Why not offer to pay them back if you leave within > one year? That should help allay some of their > fears. I never complained, i just asked for advice. To the others, i can afford to pay for the course, but that grand is much better left in my savings for a downpayment on a home rather than a course that could potentially be paid for. I like the idea of negotiation and asking if we can make an agreement that i stay for a year after the exam rate if they reimburse me. Thanks for the tips.
Sorry – I didn’t mean you, I was posting in response to pacliboi. Good luck.