How much would you sell your charter if you had the option to?

CFA General
#1

Im curious to know if anyone would be willing to sell his charter assuming its a legal act and how much money in USD are you willing to accept to surrender your CFA designation?.. please assume that you cant sell it then redo it again…I want to know the intrinsic value of this designation

#2

3 million USD

#seriously

#3

Is that your number? If you got $3 million I bet you’d retire and troll AF all day. #TrueStory

#4

Market value ≠ intrinsic value

#5

Probably

N = 35

i/y = 8%

PMT = 400,000

FV = 0

PV = $4.7MM

At least $4.7MM.

#6

what if you have the option of selling your charter but then youre allowed to retake the exams recover it

#7

Knee-jerk reaction is “no way I would sell”. But if there was a real blank check in front of me, I think I would come around to the idea.

#8

Are you saying the CFA will gross you 400,000 after tax each year? I need to move to Canada – you guys cool with African Americans (besides Drake) up there?

#9

We’re good with everything in Canada. We’re pretty chill.

And you’re not gonna get 400 grand a year from the charterholder. I would sell it for 200 grand maybe even a 100 grand.

I’m also an actuary so dont care as much. 200 grand would be a nice down payment on a house in toronto. Rent it out. Good to go.

#10

Anyone is welcome to Canada, as long as you don’t go by the name of Phil Kessel. But no you will not gross 400Gs in a land where everyone and their grandmother has the letters. Unless you’re some kind of BSD, in which case the charter would hardly be the sole determining factor, if a factor all.

#11

You can just lie and say your a Charterholder and it cost nothing. Of course, it’s pretty easy to check the CFA database for Charterholders so one would proabably get caught in that lie.

#12

Thanks guys. I was (mostly) joking about the African American bit. I hear good things about Canada. Went to Windsor once (my wife is from Detroit – *hears groans*). I’m in DC, where “finance” means “accounting” and three quarters of people, and probably 60% in the industry, haven’t heard of the Charter. I guess my view on the Charter and your guys’ are totally different. I don’t even think the Charter is huge in NYC, I hear Baltimore, Chicago and Boston have a higher portion of CFAs.

#13

I would for $750k

#14

Wait . . . you’re African-American?

When you move to Canada, will you then be African-Canadian, or African-American-Canadian?

#15

Mentality is different. Indeed, when I worked in NY virtually no one saw the point of having the charter unless you were in equity research. For example, the investment bankers I knew did not care so much but did pursue MBAs. In Canada, CFA is well regarded across many areas of finance and all the investment bankers I know here are charterholders. Heck, my life insurance salesman had the letters. A lot of people do have it in Canada but I don’t necessarily think it dilutes the charter. It’s not like it’s become easier to get.

#16

$500k AT

#17

LOL. I guess that would depend if America (read: USA) would still want to tax me. : )

Or I could go African-(North) American to acknowledge Canada and the US are both on the continent of North America.

#18

African-North American: I like it!

#19

I actually think living in an area with a large degree of Charterholders would increase the charter’s reputation – not degrade it. That way more people know the level of dedication and forgone weekends it takes to attain the Charter and it becomes a “mini fraternity.”

I’d rather have an employer say, “oh, we’ve narrowed this down to five CFA charterholders, of which you are one” than “CFA, what is that…is that like a CPA?” That latter happens in DC.

#20

Do you live in Toronto? I know you probably because how many guys have both of these?!