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emichan

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My employer has graciously offered to pay for my testing fees…provided that I pass (reimbursement).
What’s the norm/your experience with employers paying for your testing fees? Do they cover fees only, or third-party study materials as well? Prep course if you choose to participate?
 
My employer paid my fees if I passed, no prep materials or courses (I didn’t use any anyway).
 
big companies will almost always pay for your exam registration if you pass and it is relevant (e.g. you can’t be a janitor).
paying for 3rd party materials is a coin toss. some do , some don’t. there’s no real norm.
 
I got absolutely zero help from my employer. Neither for my CPA exams nor my CFA exams. But then again, I was working as a tax collector for the state, and they didn’t see the benefit in either exam. (Probably because they knew I was going to bounce as soon as I got an opportunity–which I did.)
In fact, I had to take vacation days to take my CPA exams, since they weren’t offered on weekends.
 
My employer for level 1 and 2 paid full exam fees provided that I passed and paid a substantial portion of all third-party study materials (almost 90%) again provided that I passed. My employer during level 3 paid for everything, exam fees, study materials, 100%…we did not talk about what would happen if I didn’t pass. I imagine they just wouldnt pay again? I think thats the case with most firms who don’t have a strict policy on this kind of thing.
 
My employer pays for any and all CFA-related expenses (i.e. registration, Schweser books, etc…) so long as I pass. My firm also gives me the entire week off (without taking vacation) before the exam.
I work for a very small (30 people) consulting firm.
 
Would You Look at That wrote:
My firm also gives me the entire week off (without taking vacation) before the exam.
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From what I can tell, this is pretty common in places where the charter is a de facto requirement.
 
And I’ve often wondered–if/when I become partner of a firm, and a young pup asks me to pay for her CFA/CPA/CFP exam fees and study materials, what will my response be?
To some extent, I’m jealous because I paid for all of my exams and study materials out of pocket, and even had to take vacation days for some of my exams. And the mere financial burden alone would deter a lot of good candidates from taking the exam.
But on the same token, if you have to pay for it yourself and use your precious vacation days to study, you’re more likely to take it seriously. I know lots of people who buy CPA materials on the employer’s dime and never pass the tests.
Maybe the best thing to do is to tell people, “I won’t pay for your fees or materials or give you any free time off. But once you pass, I’ll reimburse you for it and award you with five days of vacation.”
 
Greenman72 wrote:
Maybe the best thing to do is to tell people, “I won’t pay for your fees or materials or give you any free time off. But once you pass, I’ll reimburse you for it and award you with five days of vacation.”
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Great suggestion if the designation is important for your organization.
 
Thats a good idea greenie, I know what you are saying about people doing CPA and never passing. I used to work for big 4 where everything was paid for and generous time off was given. Many people didn’t take it seriously and just saw it as time off from work. So long as they got more than 40%, they knew their jobs were safe.
 
Ramos4rm wrote:
My employer for level 1 and 2 paid full exam fees provided that I passed and paid a substantial portion of all third-party study materials (almost 90%) again provided that I passed. My employer during level 3 paid for everything, exam fees, study materials, 100%…we did not talk about what would happen if I didn’t pass. I imagine they just wouldnt pay again? I think thats the case with most firms who don’t have a strict policy on this kind of thing.
Click to expand...
Oh, and my employer during level 1 and 2 gave me one free study day during level 2 but not for level 1 and I had to take vacation days to study the whole week leading up to the the exam (except those years memorial day was on that Monday so one less vacation day to take). My employer during level 3 gave me the whole week leading up to the exam to study…without taking vacation days…because I asked…and memorial day was not that week this year.
 
Greenman72 wrote:
Would You Look at That wrote:
My firm also gives me the entire week off (without taking vacation) before the exam.
Click to expand...
From what I can tell, this is pretty common in places where the charter is a de facto requirement.
Click to expand...
There’s only one charterholder in our firm and no one else (other than me) is taking the exams, or even considering pursuing the charter. It’s difficult to explain the usefulness of the charter on here without posting a link to my company’s website. Essentially, I work on a niche team at a niche firm.
 
I was allowed to just put it on my corporate AMEX. That has now stopped, and I have to submit for reimbursement. Pass or Fail my company pays for the exam in full. I haven’t tried to have them pay for third party vendor materials.
 
My company pays for the exam and all my study materials. They also came to me and suggested that I take the week off before the exam without having to use vacation days.
For Level I my company said they would reimburse me if I passed but then I ended up taking a new job before they paid me.
 
My employer reimburses registration fees for a pass. The written policy is that they do not pay for study materials, but I submitted them anyway and got reimbursed for them as well.
 
M4tt30 wrote:They also came to me and suggested that I take the week off before the exam without having to use vacation days.
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Company might as well; you wouldn’t be able to focus on your work anyway.
Plus, they have an interest in you passing the exams and being done with them, rather that studying and failing year-after-year.
 
emichan wrote:
My employer has graciously offered to pay for my testing fees…provided that I pass (reimbursement).
What’s the norm/your experience with employers paying for your testing fees? Do they cover fees only, or third-party study materials as well? Prep course if you choose to participate?
Click to expand...
fees + study materials
 
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