Cfa Sucks Customer Reviews and Feedback
The Chartered Financial Analyst (CFA) Program is a post-graduate professional qualification offered internationally by the American-based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals. It has the highest level of global legal and regulatory recognition of finance-related qualifications. The program covers a considerably wide range of topics relating to advanced investment analysis and thus- security analysis, statistics, probability theory, fixed income, derivatives, economics, financial analysis, corporate finance, alternative investments and portfolio management - and provides a generalist knowledge of other areas of finance.
Lewis Krell, a contributor for Huffington Post mentioned how CFA is a scam, "My undergraduate degree was in Finance and I spent the first five years of my career working in the institutional investment world and I have seen with my own eyes the flaws of the CFA program. If you like diving into the world of rich men throwing around other people’s money, then strap yourself in because this is going to be a fun ride. And now, join me as I show off that the CFA is at best, a scam, and at worst, hugely detrimental to society. There is no limit to the amount of times a candidate takes the CFA and once you have completed the course, no matter how long it took you, you will receive the exact same designation. For example, there are people out there that have taken 10 years to pass as they will fail multiple times on each of the three levels. There are also people who pass all three tests in the minimum possible time of 18 months. These two people now have the exact same designation and there is no way to tell them apart if they apply for jobs or speak as an authority on a subject. Of course two people with MBAs both have the same letters after their name but I can easily find out that one went to Harvard in 1990 and one went to the DeVry Institute in 2015. These two people are clearly not identical in terms of their academic background or their experience level but all CFAs are seen as identical. The logical question to ask at this point is why would they let you take it 50 times? Would you let an aspiring doctor into med school even though they did extremely poorly the first 27 times they took the MCAT? We don’t let people fail the LSAT as many times as they want and then let them into a prestigious law school when they finally manage to master the test. We don’t do this because this would greatly diminish the prestige of said law school, and in turn, the prestige of all lawyers. So why would the CFA Institute allow and, quite honestly, encourage this behavior? Why wouldn’t they have stricter rules for those that fail? Oh that’s right, it’s because......The CFA Is A Blatant Cash Grab. The guy who keeps coming back and taking the CFA 10 years in a row and failing again and again is clearly a sadist but to the CFA Institute he is a wonderful annuity payment. He is consistent and he is very valuable. Unlike a university which has to worry about the quality of their alumni, the CFA allows literally anyone on earth to take the test and is therefore playing a numbers game; it doesn’t have to worry nor care about the prestige of their network. I am unaware of any other organization, prestigious or otherwise, that will allow potentially severely under-qualified people who simply have an enormous aptitude for punishment and time wasting into their group. If someone can come up with an answer for this that isn’t ‘because the CFA Institute is a blatant cash grab’ I’d like to hear it because I got nothing. Stanford and Harvard might pocket your admissions fee but at least they have the decency not to charge you for tuition when you clearly don’t deserve to be there. The CFA is currently signing up tens of thousands of people from India and China and failing them at extraordinarily high levels. The CFA gets the double whammy of being able to keep the designation prestigious due to low passing scores and also incredibly lucrative due to the fact that anyone in the world can pay the fee and take the test."
SLR EMEA (Former Employee) says"A company where work/life balance is always discussed but not much done about it. Many excellent hard working people that are not being appreciated."
Marketing (Current Employee) says"Structure is terrible, they claim to be a global organisation however that only means a lot of control from the head office in the US and very narrow minded approach. New ideas, being progressive is slowed down or stopped or worst people run off with someone elses ideas selling them as their own. You have to follow blindly your managers' advice, which does not encourage development and grow. Work-life balance is not existing unless you are priviledged. Your skills and knowledge will go a sleep very fast, if you like to retire at any age, this is a perfect organisation."
Database Administrator DBA (Former Employee) says"Benefits are okay. Management are not fair to all employee. IT department is not run efficiently Devops concept not fully implemented and pressure come to developers. Cons: hard to get promotions."
IT worker (Former Employee) says"My four months there was a torment. Partially due to a manager who didn't manage and partially due to an employee who was supposed to train me who refused to do her job. Cons: everything else"
Need to Hide this info (Current Employee) says"I wouldn't recommend working here unless you have a sheep-like mentality. Subordinates blindly follow management with little concern about actually being innovative and progressive. I have been there only a few months and can't wait to leave....even for a job at Walmart. Cons: management, structure, willingness to accept new ideas"
Administrative Assistant (Former Employee) says"Not worth the stress and poorly trained management. A lot of time is wasted on poorly trained employees not able to use the new software and systems they constantly upgrade. Promotions seem to be on a who you know basis rather than skill. The fear-based management is almost laughable. People were often crying and getting sick from the stress in bathrooms. This was the year they had over 60 layoffs (2018). They sent out a mass email stating there would be major layoffs on the day of this email and people would be notified through email. People sat around terrified all day waiting for their potentially devastating email. Things were consistently poorly handled with regard to employee's well-being. People that seemed to do well were the ones most controllable through their fear based management. Cons: fear based management style"
Coordinator (Current Employee) says"A typical day at work is okay. Lots of opportunity to learn; workplace culture is okay; being promoting from within is extremely slow and/or nonexistence."
NA (Current Employee) says"A typical day at work is fine. The workplace culture is fine. The hardest part of the job is the workplace culture. The most enjoyable part of the job is team."
Senior General Ledger Accountant (Current Employee) says"The accounting group works with old technology while management expands and opens new global offices. We don't have the resources to properly account for these entities in the accounting system and are forced to do much of the accounting in excel."
Social Media Coordinator (Current Employee) says"There has been much turnover in the past few years and the new management that is in place either has no idea of the industry, work, or how to be successful managers, which is creating even more turnover. Cons: Lots of travel"
employee (Current Employee) says"New CEO has been a challenge,has brought chaos to the organization and lost focus on our core product. It used to be a great place to work with good benefits. Cons: poor job development opportunities, low salary growth"
Manager (Current Employee) says"Like anywhere else, there is a great deal of room for improvement, but overall, it's a pretty good place to work. Benefits and work-life balance are great."
Former Employee - IT/Software Development says"I worked at CFA Institute full-time Cons: Horrible management, at the director level and above. (The old 'One Team' culture is now more like 'do your job and don't ask questions') Feedback that does not align with leadership makes you a pariah. Company does not live up to it's ideals/Mission statement. Seemingly Semi-Annual restructuring, and regular outsourcing shows the gaps in proper resource management, and general job instability. If you are not working on something that aligns to CIO goals, you are expendable and outright ignored most of the time."
Current Employee - Head says"I have been working at CFA Institute full-time for more than 8 years Cons: Reorg after reorg after reorg with another meltdown this month. When is the Board going to put us out of our misery and choose a new CEO??? We have lost our way. Ethics violations with the DOJ, multiple Managing Director and Head level departures, an "absentee landlord" as a CEO who must be getting paid based on flight miles!!! Meaningless strategy and ad campaign based on an inane slogan called "let's measure up" ??? What does it all mean? None of the staff knows."
Former Employee - Anonymous Employee says"I worked at CFA Institute full-time for more than 5 years Cons: Elitist culture, talk the talk but don’t walk the walk. Loyalty and longevity viewed as flaws."
Former Employee - Data Base Administrative says"I worked at CFA Institute full-time Cons: Management is not good and some times bios."
Former Employee - High Level says"I worked at CFA Institute full-time for more than 8 years Cons: The CEO and senior leadership have ruined almost everything that was good about CFA Institue. Their arrogance and ego and belief that they know everything, and the CEO's talking out of both sides of his mouth have damaged morale terribly and all the good people are running for the exits. The CMO is a particular tool, who has made the lives of people in Services Delivery miserable."
says"I have been working at CFA Institute Cons: Uneven and mostly weak leadership team at MD and Head levels. Unfair comp and employee review structure that vastly over pays the weak MDs and perpetuates an unethical staff evaluation process where managers exert strong pressure on people leaders to artificially lower their teams' performance rating and lock them into lower compensation ranges. The lack of integrity exhibited by managers during this process is stunning given the organization's professed focus on "ethics." Quite hypocritical as it P rofesses to care about "member value" and "benefitting society" but is mostly focused on money...a problem with which it absolutely doesn't have. Senior staff hide behind their CFA credential, as if it were something magical and evince an air of insufferablility and arrogance. Get a clue. You passed a test. You are NOT saving lives."
Former Employee - Anonymous Employee says"I worked at CFA Institute full-time for more than 5 years Cons: It is run by people with no education, Wall St. types and ex-professors. Does not mix well."
Former Employee - Director says"I worked at CFA Institute full-time for more than 5 years Cons: Too many former investment professionals or academics wanting to leave a legacy and more focused on themselves than the best interests of the org."
Former Employee - Anonymous Employee says"I worked at CFA Institute full-time for more than 3 years Cons: - Egregious review process: zero effort made to reset expectations or coach underperforming employees (and there are a number of long-term Directors who don't pull their weight), coupled with a secretive layoff process - Politics, politics, politics - Bloated organizational structure: more Director level positions than lower level positions to do the work - Disrespect for FTE skillsets and overreliance on vendors - Lack of consistent strategic direction = lack of real impact. Constant change, no change management. Employees reshuffled every few months. - Major burnout in certain areas, especially technology-related positions - Untransparent career progression (see politics above): Good luck finding anyone under the age of 35 who enjoys working there or plans to stay"
Current Employee - Anonymous Employee says"I have been working at CFA Institute full-time Cons: Managers too young and inexperienced."
Rafa says"Absolutely every cfa sucks except manassas"
Trevor David says"@GoatJoeBurreaux Man living in Asia sucks sometimes I miss WAHO, CFA, and Popeyes so much ??????"
AshlandMVP says"@Keith_McPherson @BravesEmily @BravesMarla Yes. CFA sucks actually. (I alone am responsible for this take don’t blame Emily or Marla)"
aly ? says"@vicsssc biiiii ur cfa sucks"
In The News
eFinancialCareers reports"The worst year ever to take the CFA exams?"
Financial News reports"CFA chief: ‘Covid-19 has forced us to think beyond risk and return’"
Bloomberg reports"CFA Test Anxiety Swells as Candidates Worry Exam May Be Scrapped"
eFinancialCareers reports"The coronavirus threat to the CFA exams"