I don’t think it will lose credibility, but what may end up happening is that because so many people are in the program, it will become almost a prerequisite for those that don’t have a stellar MBA or connections to get in.
That’s another reason why it’s smart to just get it over with quickly, I think pass rates will be lowered or the charter will be made more difficult to get in some way
You could reduce the number of people passing the exam if you were required to have 5 years of post college work experience before you can sit for level I. Also you must have 1 year between level I and II and 1 year between II and III. While the material is tough, it is far easier to set aside study time when you are in college or right out of college. Once you are in your late 20s and early 30s things like a spouse and kids make it a much larger sacrifice (and hence difficult) to pass. I would love to see the drop out rates regresed aganst candidate age.
i dont see this as a problem… alot of the older people with the charter (40s-60s year olds) arent in the market for the same jobs as a hungry 30 something… and not willing to work 60+hours a week.
sure there is a huge concentration of “CFAs” in NYC/London… but if you could really count the number of job seekers in any random financial hub… its still rare. i assume 90% of charterholders are already employeed and not actively sending resumes.
Those that want to limit the number of charterholders are insecure. Have more confidence in yourself.
It reminds me of a singles party I attended recently. I believe the ratio was 1.5 men for every woman. Of course, those that complained about the ratio before even attending the party didn’t hook up at the party. Those that didn’t give a damn about the ratio did well.
yep… this makes more sense… (100k since inception)
if you break it down i would bet there is a fraction of people that get awarded the Charter and never renew the membership after the first couple of years (stop using the designation)… alot of people move on to other careers. whatever…
still curious as to how many people are using the CFA designation right now… and only a very small fraction of that is actively looking for a job…
I seem to recall that when I was at the CFAI conference in Vancouver a few years back, they were saying that they’d just given out the 120,000th charter. I was trying to reconcile that with the fact that there were less than 100,000 active charterholders at the time (something like 95k) and I came to the conclusion that the missing 25k must be inactive, retired, or had died since receiving the charter.