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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. In contrast, aspirants can secure job roles and opportunities as analysts or fund managers with an IMC degree.

CIPM and IMC are simple yet difficult jobs. It depends on one's focus area and understanding. On the one hand, the CIPM exam is just right for a candidate who wishes to pursue and succeed in investment performances as an analyst.

On the other hand, IMC certification is an entry-level qualification for investment management professionals. Therefore, it is highly sought after and is considered the benchmark entry-level prerequisite for employment in the investment management industry.

CIPM-vs-IMC

What is CIPM?

The CIPM certification program is an excellent opportunity for investment professionals to gain a strong understanding of the financial markets in the world and secure job prospects in the investment industry. This course is just right for a candidate who would like to pursue and succeed in the field of investment performance as an analyst.

The CIPM course includes performance measurements and investment attributes. It can be investment banking, investment analysis, investment management, investment advisory, etc. Certificate of Investment Performance Management (CIPM) is offered by the Association of CIPM, a part of the CFA Institute. And hence CIPM is an international professional course.

What is IMC?

Members of the investment industry form the CFA Society of the UK (CFA UK). The industry members have created 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, they conduct 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 the benchmark entry-level prerequisite for 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 and helps them maintain a standard for regulatory purposes. The IMC certificate is a stepping stone for candidates who wish to carve their career in the investment profession. IMC holders graduate for further professional growth for the Chartered Financial Analyst (CFA) Program.

The IMC course is widely respected and globally accepted. Thus, a candidate's resume with the IMC achievement adds value and increases their chances of attaining better opportunities on the job front.

This highly acclaimed course enhances students' horizons and equips them with high professional ability and practice standards in investment analysis, portfolio management, and other related disciplines.

CIPM vs IMC Infographics

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CIPM-vs-IMC-infographics

CIPM vs. IMC Summary

SectionCIPMIMC
Organizing BodyThe organizing body for the Certificate of Investment Performance Management (CIPM) exams is the CFA Institute, USA.The organizing body for the Investment Management Certificate (IMC) exams is the CFA Society of the UK.
PatternThe course consists of two sequential levels

  • Level I (erstwhile Principles level)
  • Level II (erstwhile Expert level) The CFA charterholders are exempted from the Level I exam.
The course consists of two units

  • Unit 1 (Investment Environment)
  • Unit 2 (Investment Practice) The CFA charterholders are exempted from the Unit 2 exam.

 

Duration of CourseTypically, the candidates can complete the course in a span 18 months.To complete the course, the candidates need to study around 220 hours, which can go up to 12-18 months.
SyllabusThe syllabus of the course focuses on the following topics

  • Ethics and Professionalism
  • Performance Attribution
  • Performance Measurement
  • Performance Presentation
  • Performance Appraisal
  • Manager Selection
  • Global Investment Performance Standards
The syllabus of the course focuses on the following topics

  • Ethics
  • Economics
  • Asset Classes
  • Financial Markets & Institutions
  • Regulations & Legal Concepts
  • Taxation in the UK
  • Investment Theory, Management & Measurement
  • Quantitative Methods
Exam FeesThe total cost of the course varies based on the time of registration and falls in the range between $950 and $1,350.The total cost of the course comes to be around ÂŁ800, which includes the cost of the training manual and the exam fees for each unit.
JobsSome of the common profiles include

  • Compliance Officer
  • Portfolio Manager
  • Investment Consultant
  • Investment Analyst
  • Financial Adviser
  • Risk Analyst
Some of the common profiles include

  • Relationship Manager
  • Risk Manager
  • Wealth Manager
  • Portfolio Manager
  • Risk Analyst
DifficultyThe exams are quite difficult, and only 1/4th of the aspirants can clear both levels. The pass rates for the exams conducted in September 2019 were
  • Level I: 48%
  • Level II: 51%
The exams are reasonably difficult, as indicated by the historical pass rate in the range of 65% to 80% for both units.
Exam DateThe schedule of the upcoming exams for the year 2022 is as follows
  • Level I: Mar 16-31 & Sep 16-30
  • Level II: Mar 16-31 & Sep 16-30
There is no fixed date. After registering for the program, the candidates can take the exams on any date falling within 12 months from the date of registration.

Exam Requirements

CIPM:

There are no specific eligibility criteria for the CIPM course.

  • A 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 safeguarding the high standards of the CIPM exam's protection of integrity and designation.

IMC:

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. The CIPM module equips a professional with technical ability and professional capacity, ensuring a great deal of prestige and profit for the employer.

  • The CIPM certificate allows a candidate to 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 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 rigorous course material familiarizing you with broad topics like performance measurement, attribution, and appraisal. The course is a specialization in 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 boasts the confidence in a professional in 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 fundamental foundation of knowledge of the fund management industry. Therefore, the industry expects professionals wishing to pursue a career in this industry to achieve an entry-level rudimentary knowledge on investment management before seeking a job in a company.

  • IMC-certified professionals are growing by the year. Therefore candidates should achieve this qualification to enjoy standing in the investment management industry and be open for consideration for professional designations before or immediately after graduation.
  • IMC qualification is a must for professionals wishing to settle down in the UK with dreams of making it big in the investment management industry. It is widely accepted and recognized by fellow industry people.
  • IMC qualification will boost career prospects opening an array of options for a professional.
  • Leading investment firms looking to hire the best pool of talent consider IMC a prerequisite as the course is synonymous with the idea of competence and talent.
  • This course equips students with high professional abilities and practice standards in investment analysis, portfolio management, and other related disciplines. IMC is a stepping stone for those who want to achieve finance designations in the future, such as CFA, for a better career progression. It is an ideal foundation covering 30% of the CFA Level I curriculum.

Conclusion

Carefully plan out the date for the exam because the IMC syllabus is updated continuously. Therefore, it might change depending on the selection of the exam date. The CIPM exams are extremely difficult and not to be taken lightly. Some of the concepts are very advanced and take a lot of patience to master.