The Certificate in Investment Performance Measurement (CIPM) is a highly sought-after professional certification for those looking to advance their careers in investment performance analysis and evaluation. However, the cost of obtaining the CIPM credential can be a major concern. This article provides a detailed breakdown of the costs associated with earning the CIPM certification.
CIPM exam fees
The CIPM program consists of two exams – CIPM Principles and CIPM Expert. The registration fee for each CIPM exam sitting is $800 for CFA Institute members and $1,520 for non-members. There are two exam sittings per year, so the total exam fees range from $1,600 to $3,040 depending on membership status.
CIPM study materials
CFA Institute offers various study packages for the CIPM exams, ranging from $745 for a standard package to $1,895 for a premium package. The premium package includes workshops and mocks. Self-study candidates not seeking a package can expect to spend around $500 on textbooks and practice questions.
CIPM program fees
In addition to exam fees, those pursuing the full CIPM certification need to pay a one-time enrollment fee of $400 and an annual program fee of $325. So the total program fees can add up to around $1,000 – $1,300 over the duration.
Opportunity costs
The opportunity cost for study time should also be factored in. Each exam requires an average of 200 study hours, so total study time for both exams can be 400+ hours for most candidates. This time commitment translates to a significant opportunity cost in terms of lost wages or alternate productive uses of time.
Overall, the total cost of obtaining the CIPM certification can range from $3,500 to $5,500+, depending on exam sittings, study materials, membership status and opportunity costs. The investment may be well worth it for advancing in investment performance careers.