Saw that there is a vote is to change it from 4 years work experience to 4,000 hours with a minimum of 36 months.
Not sure how I want to vote just yet. I guess the hurdle is still the exam rather than the work experience.
It’s just for membership, not the charter. They’re two separate things. I’m a member and I haven’t taken level 1 yet.
Why do you pay for membership if you arent a charterholder? The benefits are slim.
It lets you know your work experience and references are approved.
Probably more applicable for level 3 candidates for that extra motivation to get this done.
Yeah, they made it sound like it is an increase in work requirement. But it doesn’t sound like it.
Sounds like a decrease from 48 months to 36 months. Who is to say you didn’t do all those overtime hours you say you did?
we should connect.
Yes, thats the only reason why I became a member. I want my charter as soon as the thing is graded in a few months!
I get what they’re trying to do…but i can’t help but think that the ulterior motive for this proposal is to increase the rate of minting new CFA charterholders in order to increase revenue/revenue recognition…since we work in finance…i’m all about that.
the 4k hours, which is the same WE “implied” by the old standard, is a crappy interpretation…i’ve never heard that the old standard implied 4K hours until now. Seems a bit unfair to current charterholders, who had to wait 4 years.
But i always thought that the WE req was dumb to begin with so I’ll probably vote for the proposal… Another dumb thing is that auto correct never sees “charterholder” as a correctly spelled word. Who’s right here? dictionary_dot com or CFA Institute?
I wanted to see if it was worth my time to even study. I have no interest in changing career path. So, my background had to qualify. There’s no marketing value to membership at this stage except I’m on the membership directory.
Apparently there is a risk that the membership requirements will change between now and when I complete the program. I got like 96 months qualified so, I’ll probably be fine if I don’t renew right away. I will though.
You don’t say?
all in the name of increasing revenues
the marketing officer at CFA did a phenomenal job evidenced by several candidates on this site alone who claims CFA is more prestigious than top20 MBA or CFA exams are the most difficult etc etc.
CFA got these kids on the hook and now is about the time these BO or unemployed Chinese or Indians are about to finish their level 3, it is time to bank on their annual fees… the best way is to loosen or lessen the work exp requirement.
couldn’t have said it better myself.
Here’s their argument:
“The 4,000-hour requirement is the same number of hours implied by the old standard (roughly 48 months x 160 hours/month x 50% time spent in qualified activities).”
But how do they track the % time spent in qualified activities? Someone can easily claim that 100% of their job are qualified activities and they can meet the work experience requirement in 3 years.