CFA CFA Level 1 Price of CFA program compared with a average national wage

Price of CFA program compared with a average national wage

  • This topic has 9 replies, 8 voices, and was last updated Mar-18 by Stuj79.
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    • CFAI_wont_stop_me
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      Well I’m so negatively surprised with the amount of cash which I have to pay for the enrollment… I undestand that for candidates from USA or Western Europe the enrollemnt price might seems natural, but u guys life in different world where average national wage is about 4k$. So this 1200$ is like nothing. But in my reality, in Poland where average  wages is about 900$  it’s like eating bricks for half a year just to sing up….. My opinion is that CFAI has to do sth with that. So we all would be able to join this program. 

      What do you guys think about this issue? 

    • policedog
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      I agree that accessibility is an issue that CFAI should look into. Just not sure how prioritized they would be about that…

    • RoyD
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      Well just look at most universities in countries like US, UK, Canada, Australia, New Zealand etc. They actually have a much cheaper tuition fee for locals (who usually earn more) than for foreigners which is harshly unjust because these are countries with some of the highest wage rates. The CFA exam is very expensive when it comes to Indian terms or Rupees but at the end of the day it’s much cheaper than doing a full time MBA in the US and much more valuable than a correspondence course.

    • Stuj79
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      Well just look at most universities in countries like US, UK, Canada, Australia, New Zealand etc. They actually have a much cheaper tuition fee for locals (who usually earn more) than for foreigners which is harshly unjust because these are countries with some of the highest wage rates.”

      I agree it can definitely make it tougher for foreign students to get places on certain courses but whether it’s “unjust” that locals pay less, I’m not so sure. Remember that locals pay taxes, some of which go to fund higher education in that country so they would be subsidising foreign students if everyone paid the same. That is of course if one assumes that more locals will remain in that country and work/pay taxes than say foreign students, more of whom will leave the country after their course is complete…but this generally holds to be true.

      As the CFAI is a private company, it is slightly different and I agree that it can prove extremely difficult for those in certain regions to afford the entrance/exam fees…it is a shame but I can’t see them changing it any time soon.

    • hairyfairy
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      Taxes aside, one can argue that a country’s government has a responsibility to provide for its citizens (of which education is one of them) but not necessarily other nationals.

    • Slav
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      Hi, i`m from Ukraine and candidate for L1. In our country average wage was 500 $ year ago and it is 200-250$ now, but I think that the cost of exam isn`t so expensive. You may pay earlier so the cost will be approximately 600 $ for exam and 400 for enrollment in the program. If you `ll fail, next time you need to pay only for pass exam. So it is in some ways the barrier. If we will compare with MBA programs where cost is starting from 80 000 $ the CFA program with 1200$ for exam is not a huge payment

    • RoyD
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      @Stuj79 yes but how many universities are actually subsidized and by how much? Here in India degree colleges are almost completely subsidized by the government and yet they don’t discriminate financially (barring a few places). Besides if you look at the gap between the amounts to be paid by locals and foreigners it’s just unbelievable to be justified by just tax.
      Also the point you made about work. Many countries like the UK don’t allow foreigners to directly apply for a job in their country right after college. Who doesn’t want to stay and work in the US or UK after studying there?
      From what I’ve read the CFA is as valuable as an MBA in Finance from a good university and these universities charge at least $10,000 for MBA programs (in India). One of the main reasons I chose CFA was in fact due to how cheap I could get a charter for. (approx $3000 provided I pass at the first attempt)

    • Akshay Utkarsh
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      Hello Everyone. I am preparing for CFA and need a study Partner. I have put up my schedule and preferences on StudyPal. It would be great if we could study together. 
      My best wishes.

    • WesMantooth
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      I will literally fly to India to be your study partner if you will stop posting the same message everywhere…ok maybe I won’t…

    • Stuj79
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      H’s posted it numerous times on Analystforum also under the same user name….seriously, some people eh? 😉

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