Difference Between CIPM and IMC
With a CIPM degree aspirants can secure job roles and opportunities in GIPS verification firms, research firms, plan sponsors, investment banks, investment management, etc whereas with an IMC degree aspirants can secure job roles and opportunities and make a career as an analyst and a fund manager.
Choosing between two careers – CIPM and IMC is simple as well as a difficult job. It depends on your focus area and understanding. On one hand, the CIPM exam is just right for a candidate who would like to pursue and succeed in the field of investment performances as an analyst. On the other hand, IMC certification is an entry-level qualification for investment management professionals. IMC is highly sought after and is considered as the benchmark entry-level pre-requisite for gaining employment in the investment management industry
CIPM vs IMC Infographics
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Let’s understand the difference between these two streams with the help of this CIPM vs IMC Infographics.
CIPM vs IMC Summary
|Certification Organised By||CFA Institute||IMC (Investment Management Certificate) is recognized and organized by CFA Society, United Kingdom.|
|Number of Levels||The CIPM exam has two levels: CIPM Principles exam and CIPM Expert exam||IMC has only two levels. They call them units – Unit 1 and Unit 2. The exam for each unit occurs separately.|
|Mode/Duration of Exam||CIPM Principles Exam: 3 Hours(100 multiple choice questions)|
CIPM Expert Exam: 3 Hours(80 item set questions,20 scenarios; each one followed by four multiple choice questions)
|As mentioned earlier, IMC has two separate units. For clearing the Unit-1, students need to sit for 1 hour 40 minutes and answer 85 multiple choice, item sets and gap-fill style questions; and for Unit-2, students need to sit for 2 hours 20 minutes and answer 105 multiple choice, item sets and gap-fill style questions.|
|Exam Window||CIPM Exam Dates 2017:|
March 2017: 16 Mar – 31 Mar
September 2017: 16 Sep – 30 Sep
|There is no fixed examination date to give the IMC exam. A candidate is free to give the exam on his choice as the exam can be scheduled on most working days through an appointment after registering for the program.|
|Subjects||1. Performance Measurement |
2. Performance Attribution
3. Performance Appraisal and manager selection
4. Ethical standards
5. Performance Presentation and GIPS standards.
|The Unit 1 syllabus covers six topics:
Topic 1 - Financial Markets and Institutions
Topic 2 - Ethics and Investment Professionalism
Topic 3 - The Regulation of Financial Markets and Institutions
Topic 4 - Legal Concepts
Topic 5 - Client Advice
Topic 6 – Taxation
The following 11 topics are covered under Unit 2:
Topic 1 - Quantitative Methods
Topic 2 - Micro-economics
Topic 3 - Macro-economics
Topic 4 - Accounting
Topic 5 - Equities
Topic 6 - Fixed Income
Topic 7 - Derivatives
Topic 8 - Alternative Investments
Topic 9 - Portfolio management
Topic 10 - Investment products
Topic 11 - Investment performance measurement
|Pass percentage||September 2016 exam results:|
Principles exam results:- pass rate: 42%
Expert exam results:- pass rate: 52%
|The pass percentage for IMC is also quite high. In each of the exam, the pass rate is 80%.|
|Fees||The first time registration fee for CIPM Principles Exam and CIPM Expert Exam is $975 and if registering again for any of them, it is $500.||In addition to your programme fees, there may be additional charges associated with your studies, which include:
IMC - unit 1
Examination fee: £240
IMC - unit 2
Examination fee: £255
|Job opportunities||1. Investment banks|
2. investment management
3. research firms
4. GIPS verification firms
5. plan sponsors
6. performance measurement
|1. Investment Management
2. Investment Support
3. Sales & Marketing
4. Investment Administration.
What is CIPM?
The CIPM certification program is an excellent opportunity for investment professionals to gain a strong understanding of the financial markets of the world and secure their job prospects in the investment industry. This course is just the right course for a candidate who would like to pursue and succeed in the field of investment performance as an analyst.
CIPM course includes performance measurement and attributes of investment it can be investment banking, investment analysis, investment management, investment advisory, etc. Certificate of Investment Performance Management (CIPM) is offered to be appeared by the Association of CIPM which is obviously a part or is associated with the CFA Institute. And hence CIPM is an international professional course.
What is IMC?
The CFA Society of the UK (CFA UK) is a society formed by the members of the investment industry. The industry members have formed this organization with the sole aim of fostering and maintaining high standards of professional ability and practice in investment analysis, portfolio management, and related disciplines. Keeping this motto in mind the society conducts a certificate program known as The Investment Management Certificate (IMC) an entry-level qualification for investment management professionals. The qualification is highly sought after and is considered as the benchmark entry-level pre-requisite for gaining employment in the investment management industry. Employers seek out professionals with the IMC certificate as it demonstrates a distinct level of competence in the candidate as well as helps them maintain a standard for regulatory purposes. The IMC certificate is a stepping stone for candidates who wish to carve out their career in the investment profession. IMC holders graduate to studying for the Chartered Financial Analyst (CFA) Program for further professional growth.
The IMC course is widely respected and globally accepted. Thus a candidate’s resume with the IMC achievement adds value and increases his chances of attaining better opportunities in the job front. The highly acclaimed course enhances a student’s horizon and equips him with high standards of professional ability and practice in investment analysis, portfolio management, and other related disciplines.
CIPM vs IMC – Exam Requirements
CIPM: There are no specific eligibility criteria for the CIPM course. The candidate who wishes to appear for the CIPM course is only expected to agree and abide by the CIPM Association Code of Ethics and Standards of Professional Conduct. This can be completed easily by signing a Candidate Professional Conduct Statement as part of each exam registration. This is mandatory as it ensures the safeguarding of the high standards of the CIPM exam protection of the integrity of the designation.
IMC: The CFA Society does not specify any pre-requisite for candidates to be eligible for the IMC Program. However, industry experts and passed out candidates mention that a bachelor’s degree eases a candidate’s process of studying and increases the chances of being selected for a particular role in the industry.
Why Pursue CIPM?
- Industry people are looking for employees who can responsibly handle and drive the business solely on the talent of their knowledge and skills and ethical and professional commitment. Thus a combination of both is an achievement in this industry and the CIPM module equips a professional with both the technical ability and professional capacity ensuring a great deal of prestige and profit for the employer.
- The CIPM certificate allows a candidate to achieve an edge over his competitors by showcasing his superior knowledge and understanding of the practice-based investment performance and risk evaluation skills.
- The syllabus of the CIPM is continuously upgraded with the current practices of the industry by professionals and practitioners of the same industry to ensure that all the relevant topics are covered and the latest trends of the industry are met with so that professionals are ready as per the demands of the employers in the job market.
- The CIPM designation is an achievement for people in the investment management industry. The certificate adds on to the resume and lends credibility speaking highly of your resume, professionalism, and commitment to your clients’ best interests and the firm’s success.
- CIPM course covers a rigorous course material familiarizing you with broad topics like performance measurement, attribution, and appraisal. The course is a specialization in the area of portfolio management, allowing a candidate to gain his mastery in the field of finance through the acquisition of some invaluable set of skills in the certificate program.
- The course definitely boosts the confidence in a professional on his ability to bring new investment strategies to the table with certified good results. The program is an invaluable learning experience if your job requires the utilization of these kinds of skills.
Why Pursue IMC?
- The IMC certificate is the very basic foundation knowledge of the fund management industry and therefore the industry expects professionals wishing to pursue a career in this industry to at least achieve an entry-level rudimentary knowledge on investment management before seeking any job in a company.
- The IMC certified professionals are growing by the year and therefore it is advisable for candidates to achieve this qualification to enjoy standing in the investment management industry and be open for consideration for professional designations before or immediately after graduation.
- Professionals wishing to settle down in the UK with dreams of making it big in the investment management industry, IMC qualification is a must as it widely accepted and recognized by the fellow industry people.
- The IMC qualification is definitely going to boost career prospects opening an array of options for a professional.
- Leading investment firms looking to hire the best pool of talent available to consider IMC to be a pre-requisite as the course is synonymous with the idea of competence and talent.
- The course equips the students with high standards of professional ability and practice in investment analysis, portfolio management, and other related disciplines. IMC is a stepping stone for those who want to achieve further finance designations in the future such as CFA for a better career progression. It is an ideal foundation for as the course covers 30% of the CFA Level I curriculum.
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Carefully plan out the date when appearing for the exam because the IMC syllabus is updated continuously and it might have changed depending on the selection of the date of the exam. The CIPM exams are extremely difficult and not be taken lightly. Some of the concepts are very advanced and take a lot of patience to master.