CFA Institute has recently evaluated the health and sustainability of the Career Center and determined that the current business model requires an adjustment to ensure product longevity and future growth.
Our current model subsidizes platform expenses and internal operational costs fully, and 100% of job posting revenue is distributed to societies collaborating on the platform. As this initiative has grown and more societies have joined, our platform and operational costs now exceed incoming revenue, resulting in a poor product health score. We have also observed steep regional discounting of job posting rates is undervaluing the product in the marketplace.
To improve stability of the product, we have evaluated several business models both internally and with Presidents Council Representatives to select an option that provides an equitable way to share future operational costs with societies. We’ve also identified ways to increase operational efficiencies internally.
Changes to the collaboration model are highlighted below:
- CFA Institute will retain 15% of job posting revenue prior to society distribution effective 1 January 2022.
- Revenue will be distributed on a bi-annual basis, instead of quarterly, during the months of February/March and August/September.
- Societies will be required to sign an Individual Grant Agreement specific to Career Center revenue prior to receiving the funds.
- Test a more structured approach to complimentary job postings to emphasize the overall value of the product.
We’re pleased to continue offering this important initiative for societies to build connections with local employers and job seekers. Additional details including FAQs can be found on Society Center (Programming & Events tile > Career Management).
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