Being emerging market with huge human capital wanting international recognition India is fast catching up with likes of Hong Kong and Singapore for CFA hub. In last few years CFA aspirants in India has increase at a exponential rate. With AICTE acceptance of not having jurisdiction over the CFA institute examinations in India, virtually there is no one to stop the CFA growth in India.
SO how does students perceive the certification in India? It is totally opposite to the perception in US, in developed countries very small number of people reach the graduate level, most of the pupil prefer vocational courses due to high costs of education. This also ensures very high quality of graduates from colleges. Same with CFA it is considered as professional course acquired after reasonable years of related work experience.
India had an old system where education is considered as a stage of life, student is expected to continue formal education through certain age, whatever he wants to learn needs to be completed before start of the next stage that is family stage. So every person in our society has a set goals. pupil is need to complete education till he gets a decent job and immediately after completion of education needs to marry a girl found by the parents. Once family is started formal education is full stop.
This particular system of stages has narrowed down the vision of Indians, they try to complete as much of education possible to get a decent job. It is not something they yearn to learn or they like to do, but these courses are the rope way to getting job, a wife and family. So who are the pupil appearing for CFA exam in India? These are all fresh college graduates or first year MBA students without an iota of work experience. They can lot of time studying as that is the only thing they are expected to do. They work hard memorise things practice hours and pass the all three exams along with masters degrees.
And this creates the problem now till the candidate is able use actual skills leaned during the exam, those start rusting. when they join a investment management job and expected to use the knowledge gained during the CFA preparation, they falter without the relevant work experience they have not learned any thing from the exams. This dilutes the brand CFA as recruiters think CFA do not have the required skills. So at least keep the brand image CFA institute needs to keep work experience criteria very strict. Or it can make experience required before appearing for 3rd level.
SO how does students perceive the certification in India? It is totally opposite to the perception in US, in developed countries very small number of people reach the graduate level, most of the pupil prefer vocational courses due to high costs of education. This also ensures very high quality of graduates from colleges. Same with CFA it is considered as professional course acquired after reasonable years of related work experience.
India had an old system where education is considered as a stage of life, student is expected to continue formal education through certain age, whatever he wants to learn needs to be completed before start of the next stage that is family stage. So every person in our society has a set goals. pupil is need to complete education till he gets a decent job and immediately after completion of education needs to marry a girl found by the parents. Once family is started formal education is full stop.
This particular system of stages has narrowed down the vision of Indians, they try to complete as much of education possible to get a decent job. It is not something they yearn to learn or they like to do, but these courses are the rope way to getting job, a wife and family. So who are the pupil appearing for CFA exam in India? These are all fresh college graduates or first year MBA students without an iota of work experience. They can lot of time studying as that is the only thing they are expected to do. They work hard memorise things practice hours and pass the all three exams along with masters degrees.
And this creates the problem now till the candidate is able use actual skills leaned during the exam, those start rusting. when they join a investment management job and expected to use the knowledge gained during the CFA preparation, they falter without the relevant work experience they have not learned any thing from the exams. This dilutes the brand CFA as recruiters think CFA do not have the required skills. So at least keep the brand image CFA institute needs to keep work experience criteria very strict. Or it can make experience required before appearing for 3rd level.
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