Getting a CFA is a savvy -- albeit arduous -- way to stand out from the crowd. Unfortunately, it's also an increasingly common track.
In June, a record 22,784 people took the third and final exam, according to data released yesterday by the CFA Institute, the Charlottesville, Va.-based nonpr ofit that administers the test. Some 11,620, or 51%, of those folks passed. That number is more than any other year but 2006, when an improbable 76% of candidates cleared the final test hurdle.
Meanwhile, the Level II test drew a record 44,175 candidates, and almost 19,000 of those folks passed, also a new high.
The number of people who took the first test was second only to late 2008 when a flood of candidates rushed for accreditation in the face of the gathering economic storm.
The bummer for those who have just learned the secret CFA handshake is tw ofold: more employers will expect the designation and more other candidates for a job are likely to have it. That said, my hat's off to those who stuck it out.
Related: Wet, Hot CFA Summer
Another UBS Exit (FINS)
Lazard Ltd. has hired James Spencer, former head of U.S. banks in UBS's financial institutions group. Spencer began his career as an FDIC bank examiner.
Happy Holidays (Bloomberg)
U.S. banks may slow job cuts after Labor Day. At least, that's what one analyst is forecasting.
Trading Up (WSJ)
Volatility may scare the pants off the average investor, but it means pr ofit for high-frequency traders. Such operators have roughly tripled their stock trades this month.
Road Warriors Get S oft (WSJ)
Surprise, surprise: Traveling for work isn't great for your health. A new study shows that the odds of being obese were 92% higher for those who travel more than three weeks a month.
Related: Dream Job or Travel Nightmare?
Goldman Loses an Earle (FINS via Financial News)
Glenn Earle, a Goldman Sachs veteran and COO of its operations in Europe, the Middle East and Africa, is retiring. Let the job jostling begin.
Want To Be More Productive? (Inc.)
Take a nap. Research shows that a tired brain shuts off neurons involved in memory. And some bosses are even condoning a little snoozing.
How to Spend It (Acquire)
What do you get when you cross a Ducati with a suitcase? Some wicked "polycarbonate" luggage -- with wheels of course.
Buzz Around the Office
Count 'Em
This dog plays volleyball. 'Nuff said.
List of the Day: How People Overcomplicate Their Decisions
1. They make the unimportant important.
2. They make two alternatives more "equal" than they really are.
3. They change their preferences.
(Source: BNet)
Write to Kyle Stock at Kyle.Stock@dowjones.com
