标题: Article I saw this monring about passing [打印本页] 作者: sabina 时间: 2011-8-28 13:01 标题: Article I saw this monring about passing
This makes me want to slap this person. I can't help but look down on someone who writes lower-tiered news articles about finanice rather than making a career for themselves. Also, obviously this guy is not a charterholder. I would say that 11,620 new charterholders isn't exactly a flood of new people.
Getting a CFA is a savvy -- albeit arduous -- way to stand out from the crowd. Unfortunately, it’s also an increasingly common track.
In June, a record 22,784 people took the penultimate Level III exam, according to data released yesterday by the CFA Institute, the Charlottesville, Va.-based nonprofit that administers the test. Some 11,620, or 51%, of those folks passed. That’s more than any other year but 2006, when an improbable 76% of candidates cleared the final test hurdle.
Meanwhile, the Level II test drew a record 44,175 candidates, and almost 19,000 of those folks passed, also a new high.
The number of people who took the first test was second only to late 2008 when a flood of candidates rushed for accreditation in the face of the gathering economic storm.
The bummer for those who have just learned the secret CFA handshake is twofold: more employers will expect the designation and more other candidates for a job are likely to have it. That said, my hat's off to those who stuck it out.作者: AnalystForum 时间: 2011-8-28 13:07
Penultimate means second to last. It really annoys me when writers use this word incorrectly to make themselves seem smart.作者: infinitybenzo 时间: 2011-8-28 13:14
hezagenius Wrote:
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> Penultimate means second to last. It really
> annoys me when writers use this word incorrectly
> to make themselves seem smart.
Yeah, noticed that too. This person is a journalist?
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Every body do not forget I can clear describe my case ; I am not crazy ! I talk the truth only.
-qqqbee作者: ruchita 时间: 2011-8-28 13:26
Journalists often make such mistakes.作者: yospaghetti 时间: 2011-8-28 13:50
^ I'm sure a fair amount of those L3 passers will have to wait until they get their four years of experience. There seem to be an increased number of early 20-somethings (even on these boards) or career-switchers who have cruised through the exams by age 23 or so.作者: busterbluth 时间: 2011-8-28 14:02
I don’t post much – only when I can’t resist. Let’s assume what this disgruntled journalist says is actually true. This “bummer” isn’t twofold at all. If employers will expect the designation, then those who do not have it are eliminated. That’s a strong case for having the charter. That’s a huge segment of the job candidate population (those without charters) that just went “poof”. Then we are supposed to believe that an increased number of charterholders is a bad thing for dilution? That’s contradictory – and it doesn’t take a genius to see it.
I'm not making any claims in the above, I'm just drawing a conclusion based the journalist's own words. Again, this assumes what the journalist says is true – but don’t count on it.作者: cfa10yrplan 时间: 2011-8-28 14:09
ohai Wrote:
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> While this article should be edited for
> grammatical errors, I don't see anything wrong
> with the fact that it was written. Are you saying
> that only people employed by financial
> institutions should write finance news articles?
> Should only professional athletes write about
> sports?
I just found it a little tacky someone who probably didn't go through the program was more or less saying that due to the numbers this year, employers are changing their hiring habits. At least give it a few days - not the morning after. It just got to me that the first thing I read this morning was this, after the long journey everyone had been through these past 3-4 years.作者: wizofoz 时间: 2011-8-28 14:15
kwmitch Wrote:
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> I don’t post much – only when I can’t resist.
> Let’s assume what this disgruntled journalist says
> is actually true. This “bummer” isn’t twofold at
> all. If employers will expect the designation,
> then those who do not have it are eliminated.
> That’s a strong case for having the charter.
> That’s a huge segment of the job candidate
> population (those without charters) that just went
> “poof”. Then we are supposed to believe that an
> increased number of charterholders is a bad thing
> for dilution? That’s contradictory – and it
> doesn’t take a genius to see it.
>
> I'm not making any claims in the above, I'm just
> drawing a conclusion based the journalist's own
> words. Again, this assumes what the journalist
> says is true – but don’t count on it.
Well said. Lot of people in IT and backoffice are working towards CFA even though many of them may not directly work in PM or front office. That means even for IT or backoffice job search, having any level of CFA experience is a plus.作者: therecruit 时间: 2011-8-28 14:33
hezagenius Wrote:
-------------------------------------------------------
> Penultimate means second to last. It really
> annoys me when writers use this word incorrectly
> to make themselves seem smart.
great minds think alike作者: Swanand 时间: 2011-8-28 14:46
hezagenius Wrote:
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> Penultimate means second to last. It really
> annoys me when writers use this word incorrectly
> to make themselves seem smart.
this.
i would never bother reading a word further after seeing someone who claims to be a writer misuse a word like that.作者: SFoyil 时间: 2011-8-28 14:52
Guys you need to understand the reason behind these numbers:
1) Its obvious the exam is more popular and now the economy is in the toilet more people want to take the exam to gain or maintain employment.
2) The CFA exam until recently has been a North American trend. Outside of the US/Canada it has historically had little recognition. Only recently has the CFA institute been gaining traction in other countries particularly developing countries, accounting for a greater increase in the number test takers.
3) The fact that a record number of people are passing is a result of a record number of test takers. The exam is probably getting a lot more difficult as more people take it the institute raises the bar higher and higher since pass rates demonstrate a declining trend. So even though more people in absolute terms are obtaining the charter, it is simultaneously becoming more difficult obtain.
Conclusion (mine anyway): If you live in North America the competitive advantage of having the charter is diminished. However your charter now has better global recognition and seeking employment abroad will probably be easier (relatively anyway). I think having the charter will also mean more prestige over time since it is becoming much more difficult for any single individual to obtain owing to declining pass rates.作者: Swanand 时间: 2011-8-28 14:59
Maybe since the Level 3 test is last (ultimate) and you write the morning session in pen, the journalist decided it would be appropriate to call it penultimate. But that's probably giving him too much credit.作者: Colum 时间: 2011-8-28 15:05
Number of Charterholders does not diminish the value..there are millions of CPA's, CA's, etc..they are still highly regarded in their respective fields.
While a CFA Charter is not highly regarded in North America for fields other than Equity Research and Portfolio/Asset Management, in emerging markets particularly in Asia & Middle East, its a substitute for an MBA considering these regions have very few globally recognized universities which are ranked high.
If you're in finance, have worke experience in North American markets, London, Singapore, etc., and hold a CFA charter, you're set in emerging market countries.
Check out efinancialcareers.com for opportunities abroad. the US & European job markets may be bad, but the rest of the world still has a lot to offer in terms of both lifestyle and pay.
Edited 1 time(s). Last edit at Sunday, August 21, 2011 at 02:59AM by Kamisyed.作者: Muddahudda 时间: 2011-8-28 15:23
Regions where i noticed the website is best for are middle east, australia, asia pacific region, Europe.
a lot of job posted for U.S as well, but like I said earlier, CFA is much more highly regarded in other finance function (other than IM) in the middle east, singapore, honk kong, etc.
So if you're trying to break in and have been unsuccessful, look at alternatives.作者: mp3bu 时间: 2011-8-28 15:30
Can you send the actual link for this article? I would love to respond to this genius.作者: DarienHacker 时间: 2011-8-28 15:42
did you all see that he changed the article? I cant find penultimate anymore... lol作者: Andreas42 时间: 2011-8-28 15:49
This "huge" number of new charterholders represents .0000017 of the current world population.
Really thinning it out.作者: dmrktrading 时间: 2011-8-28 15:55
jdivico Wrote:
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> This "huge" number of new charterholders
> represents .0000017 of the current world
> population.
>
> Really thinning it out.
And compared to the new MBAs or equivalents, new charter holders are a dime a dozen. Right?作者: bpdulog 时间: 2011-8-28 16:01
not to mention current charter holders who are leaving the business. I just don't see it as a negative.
