Members to vote on CFA Institute Bylaw change
To address shifts in the diverse global investment management workforce, members are being asked to vote on a CFA Institute Bylaw change to the work experience requirements for regular membership from four years to an equivalent 4,000 hours completed in a minimum of 36 months. The change from months to hours alters how the work experience is tracked but does not alter the current work experience requirement (50% of a full-time job over a 48-month period.)
To ensure that the work experience is gained over an appropriate timeframe, the bylaws would be updated to require a minimum of 36 months to meet the 4,000-hour standard. We will also no longer accept up to 12 months of entry-level work experience leading up to a qualifying position.
These modifications will better align our requirements in the changing workforce – namely an increase in time spent earning advanced education, part-time professionals, flexible schedules, and remote work arrangements. This more rigorous approach better ensures that all applicants will continue to embody the professional and ethical standards expected of CFA Institute members and to enable CFA Institute to fulfill its commitment to developing the next generation of educated, experienced, and ethical practitioners to lead the investment management profession.
The Board of Governors approved this proposal in May 2018 and the membership vote will be included in the 2019 Proxy.
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