With a paid membership of the CFA Institute, it will connect you with a global association of investment professionals. The CFA Institute membership actually gives you access to benefits which help you pursue professional knowledge, lead with ethnic and advance in your career.
If you are interested in buying a CFA Institute membership, you may need to learn about the CFA Institute membership first, since there are two types of CFA Institute memberships you can choose. To learn about CFA Institute membership, you can dive into our post below. Here you go!
CFA Institute Membership Types
There are two types of CFA Institute memberships you can choose. With qualifying work experience in the investment decision-making process, you can either become a regular member and an affiliate member.
You may need to review the OFAC Compliance Policy before applying. It’s important to note, residents of certain countries or markets may be prohibited by law from being a CFA Institute or society member.
1) Regular Membership
Regular membership is intended for investment professionals who are directly involved in or supporting the investment decision-making process. This membership type is a prerequisite to gaining the CFA charter and CIPM certificate.
To become eligible for CFA Institute Regular Membership, you should hold a bachelor’s degree or equivalent education or work experience and gain a passing score for the Level I CFA Exam, RBA Netherlands Exam, CIPM Program Level II Exam, or the self-administered Standards of Practice Exam.
The benefit you will get if choosing Regular Membership is to have voting rights for CFA Institute Board of Governor elections. You will also have access to the latest research, member directory, continued professional learning content and also exclusive volunteer opportunities.
If you choose Regular Membership, you will have to complete at least 4,000 hours of relevant experience, in a minimum of 36 months. Additionally, there are 2 or 3 professional references you will need.
2) Affiliate Membership
Affiliate Membership is intended for investment professionals who do not intend to participate in the CFA program or CIPM programs or do not meet the eligibility requirements of regular membership.
To become eligible for CFA Institute Affiliate Membership, you have to meet the eligibility requirements for your chosen member society and become a member of that society. You can find a society here and explore their affiliate membership requirements.
The benefit you will get if choosing Affiliate Membership is to have access to the latest research, member directory, continued professional learning content and exclusive volunteer opportunities.
If you choose Affiliate Membership, you will have to meet the work experience requirements for your chosen member society. It is known that there are 2 or 3 professional references you will need.
CFA Institute Membership Fees
Regular Membership costs $275 for CFA Institute. Well, the society dues may vary by society. The annual dues will be prorated for people who are joining CFA Institute and a member society for the first time. The regular membership year will span from 1 July to 30 June.
Affiliate Membership costs $275 for CFA Institute. Well, the society dues may vary by society. The annual dues will be prorated for people who are joining CFA Institute and a member society for the first time. The affiliate membership year will span from 1 July to 30 June.
Both Regular Membership and Affiliate Membership cost $275 for the full membership period. The annual fee for the first-time members will vary depending on the month that they decide to join.
To make it easier for you to understand what your CFA Institute membership will cost, you can see the following table:
|New Member Join Month||Prorated Fee|
|August||Pay only months remaining (11 months)|
|September||Pay only months remaining (10 months)|
|October||Pay only months remaining (9 months)|
|November||Pay only months remaining (8 months)|
|December||Pay only months remaining (7 months)|
|January||Pay only months remaining (6 months)|
|February||Pay only months remaining (5 months)|
|March||Pay only months remaining (4 months)|
|April||Pay only months remaining (3 months)|
|May||Full dues for next year (May/June waived)|
|June||Full dues for next year (May/June waived)|
CFA Institute Membership Requirements
There are a number of requirements you should meet to become a CFA Institute membership, including:
1) Work experience requirements
If you apply for regular membership, you will be required to explain current and prior job responsibilities to demonstrate qualified work experience. You should have at least 4,000 hours of experience that you should complete in a minimum of 36 months.
The qualified hours should be directly related to the investment decision-making process or producing a work product which informs or adds value to that process. The work experience gained through full-time, part-time, or remote work arrangements during, before or after your participation in the CFA Program.
2) Applying to a Society
If you apply for a regular membership of the CFA Institute, you will be required to apply to a local society. Your application will be reviewed by the local society you choose. You definitely can choose whether or not you want to join the society once your application is approved.
Furthermore, the regular membership of CFA Institute can add and switch societies without going through the society application process. Of course, it can be performed during the renewal process and from the Manage Your Membership page here.
If you apply for an affiliate member of CFA Institute, membership to a local society will be required. Well, the requirements to be an affiliate member of a society will vary by society.
If one is an active regular member of the local society to which you are applying, you should provide 2 professional references. If none of them is an active regular member of the local society to which you are applying, you should provide 3 preferences.
Even though CFA Institute prefers reference from your supervisor, you can choose other individuals who can explain and prove your responsibilities in the investment decision-making process.
References here will be required to comment on your work experience and professional character. You can send instructions to your references as part of your application.