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Exams - General Sub-fora: CFA exams
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  #1  
Old 05-04-2017, 12:13 PM
aanglen aanglen is offline
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Default It seems irrational to become ASA before deadline

The new curriculum's enhanced scope was implemented because of feedback from employers, candidates, and members. Furthermore, the SOA's decision to exempt current ASAs from the additional exam requirements is, according to them, unprecedentedly generous. In addition, the president of the SOA wrote in a June, 2016 email that the post July, 2018 ASA will be "even more valuable." He also wrote that the change was inspired by a desire to maintain the reputation, relevancay and respect of the designation.

Given that the new credential is "more valuable" by verbatim definition, why are people rushing to become ASAs before the deadline?

It does not seem like a rational decision, nor does it seem consistent with the spirit of the curriculum change.

Thoughts?
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  #2  
Old 05-04-2017, 03:46 PM
nonlnear nonlnear is offline
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Quote:
Originally Posted by aanglen View Post
Given that the new credential is "more valuable" by verbatim definition

Thughts?
I think you should check your assumptions about who or what defines a credential's value.
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  #3  
Old 05-04-2017, 04:56 PM
aanglen aanglen is offline
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What would your assumptions be?
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  #4  
Old 05-04-2017, 05:54 PM
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Originally Posted by aanglen View Post
What would your assumptions be?
It isn't the SOA.
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  #5  
Old 05-04-2017, 06:02 PM
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Gandalf Gandalf is offline
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Many, likely most, of those seeking ASA also hope to achieve FSA. Delaying ASA delays FSA with little if any impact on the value of the FSA.
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  #6  
Old 05-05-2017, 10:08 AM
ToBeAnActuaryOrNotToBe ToBeAnActuaryOrNotToBe is offline
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Originally Posted by aanglen View Post
Given that the new credential is "more valuable" by verbatim definition, why are people rushing to become ASAs before the deadline?
If you have an ASA before the deadline, you save so much time and money not doing the new exams and do not have to deal with the exam changes. Why would you not get an ASA before the deadline? You stated that SOA was being generous by letting people with ASAs before the deadline not do the new requirements. Accept their generosity. If you factor in the cost of new exam materials, cost of exam fees, time taken studying new exams and exam topics (new exams and exam changes might be difficult and result in more failures), you would most likely agree that getting an ASA beforehand is better.

With all of the time and money you saved, you can learn the extra stuff they are adding if you really want to. You know how the exams are formatted and what it takes to pass them since they have not changed for a long time. You are gambling with unpredictability if you wait to get your ASA after the changes. The "more valuable" part is ridiculous. At the end of the day, you will still have the ASA next to your name in emails. Maybe in like 5 to 10 years companies will want to hire people who got their ASA post July 2018.
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  #7  
Old 05-05-2017, 10:50 AM
Clem Koi Clem Koi is offline
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Taking them for granted imo
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  #8  
Old 05-05-2017, 11:08 AM
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I think companies are totally going to take advantage of the post-change ASAs because they aren't going to pay them more for having the objectively more valuable version of the designation than the pre-change ASAs.
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  #9  
Old 09-18-2017, 01:25 PM
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DarchArvor DarchArvor is offline
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I think companies are totally going to take advantage of the post-change ASAs because they aren't going to pay them more for having the objectively more valuable version of the designation than the pre-change ASAs.
? they have to give you a pay jump+cash bonus+study time for new exams, so your annual salary will increase because you have done more exams

On the long term, you win for that extra 5-6k per year
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  #10  
Old 10-04-2017, 09:21 PM
Latitude30 Latitude30 is offline
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Quote:
Originally Posted by aanglen View Post
The new curriculum's enhanced scope was implemented because of feedback from employers, candidates, and members. Furthermore, the SOA's decision to exempt current ASAs from the additional exam requirements is, according to them, unprecedentedly generous. In addition, the president of the SOA wrote in a June, 2016 email that the post July, 2018 ASA will be "even more valuable." He also wrote that the change was inspired by a desire to maintain the reputation, relevancay and respect of the designation.

Given that the new credential is "more valuable" by verbatim definition, why are people rushing to become ASAs before the deadline?

It does not seem like a rational decision, nor does it seem consistent with the spirit of the curriculum change.

Thoughts?

Not to belittle the importance of the exam content in any shape or form, but let's be real with ourselves. An ASA in the minds of most of our peers, is a stepping stone towards obtaining an FSA. Once an FSA with MAAA, just as nobody cares what score you received or what exams you passed for most career positions that require a signing actuary and managerial experience, it is likely not marketwise a big reward incentive to take an extra exam to get the same 3 letters with a different year next to it. I suppose there are jobs that might value the new ASA over the old ASA but those wouldn't be overly common and they would be positions directly applying to practice the learnings of the new testing requirement. Congruency in matching practical skillsets to new academic testing is something that involves also setting a discussion dialogue between actuarial departments and participants on the exam committee closely aligned. That said, I think the meaning of a more comprehensive ASA achiever of the future has incremental value added but it will take time to make a difference in terms of job qualifications, it may not happen as quickly as one might expect.

Also I think it is important to maintain the consistency of honoring the credentials that were earned in full under an old curriculum, but we can apply concepts from the new exam and offer a parallel seminar that teaches the material as a form of CE. Plus we can let the new ASAs teach it to the pre-2018 ASAs and put it as a talking point for years to come.

Last edited by Latitude30; 10-04-2017 at 09:46 PM..
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