CFA® Dues
I could ask this on several of the other forums here, but I assume some people in ER have thought about this.
I'm a CFA® Charterholder. My firm doesn't pay for the dues, and I don't want to shell out $275 since I really don't get a shit if anyone knows that I have a CFA® or not. However, I also don't want to order new business cards. What happens if you keep using the cards but don't pay dues? Who cares or do they harass you? Do I have to go into retirement status to avoid problems?
I'd call them but then they would know I'm planning to not pay. Thanks.
Didn't you read the ethics section when you studied for the exams? You would be violating the CFA ethics code by putting CFA after you name without paying your annual dues. You could be disciplined by the society - suspension of your membership, or worse, be stripped of the charter entirely.
It's only $275 so who cares? Do you even work in finance? It's not like you make $2.75 an hour.
This joke post is not funny OP.
pay your dues, what the hell is wrong with you?
I did read the ethics section -- my question was, what happens if you hav a violation? Does it really matter?
I do work in finance. I honestly don't care about the charter so this is not a joke or a troll post.
Just to clarify, my real question is -- I passed the exams, so if they "suspend me" who cares -- can't I just use the letters anyway? The society provides no value to me, so I don't care. But I don't want to pay $275 for the rest of my career as an annuity to CFA. If that means not using the letters, I'm fine with that.
"I passed the exams, so if they "suspend me" who cares -- can't I just use the letters anyway" makes me wonder as to how the hell you managed to pass the exams.
No, you may not under any circumstances continue to use the letters after your name because by not submitting your dues, you are no longer a member of the organization, and thus no longer a charterholder.
To paint a picture of how this could backfire: CFA Institute prints your name in the CFA magazine and emails your violation to their member base - some of whom will be your current or future bosses. It tells your bosses that you have no integrity, ethical standards, and that you spit on the organization that they're probably proud to be a member of. CFA Institute can also reprimand your bosses for not providing proper supervision of you (putting their own designation in jeopardy) due to their lack of diligence in checking whether or not you're actually a member. Oh, and it takes all of one minute to check as to the validity of your designation for a member (internal database).
Call it a "career limiting move" in exchange for $275 of your hard earned dollars annually.
I appreciate the thoughtful response. My boss doesn't have the CFA and would laugh if they reprimanded him. I checked earlier and found that you can go into retirement status and not use the letters but also not pay. I'm not going to try to represent myself as a current charterholder, so I don't care if anyone checks, it's just that I don't want to print new cards. Nobody would check anyway -- CEOs / CFOs of public companies couldn't care less, and if I move to a new buy side firm, CFA isn't part of the picture assuming I have good experience. If I were on the sell side, I would probably pay. Thanks for the help.
The ethics say that you can no longer use the letters but are entitled to state on your CV/Resume that you achieved the charter in X year.
I understand where you're coming from though, if you no longer care for the letters what can they really do to you....?
You can continue to use your cards, but cannot reorder them after you have not paid your dues. I remember reading about this in one of the ethics books or some version of the Standards book. If you do not pay, you can still use up your cards, but you can't reorder them with the CFA wording.
Why are you even taking the time to type this out? You know the code of ethics, and if you completed the three exams and work exp, then you know what will happen to you if you claim you're a charterholder without paying dues.
Finish out your business cards and move on. End of discussion.
Dude, I took the Dec exam and I've forgotten most of the irrelevant bullshit that is encompassed by the ethics section, I hardly expect to remember the specific situations and consequences come L2 or the resit.
Is $275 a year really all that much after spending thousands of dollars and hundreds of hours achieving it? I mean, as a CFA charterholder you're going to be making so much money that 275 is nothing compared to it.
If there's even a 1% chance that it helps you land that a job, unless the job is going to pay you less than $27,500/year then yeah don't bother, but i don't see that happening.
EDIT: Jesus dude, i didn't mean to try and insult you or anything. I just don't see how $300 a year is significant enough that you're willing to lose your letters over it (or i guess use them against the code of ethics of the CFA institute).
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