Is graduating from the AICD worth it? Simon Hadfield reports back on his experience.
Earlier this year I graduated from the AICD (Australian Institute of Company Directors). That makes me a GAICD. I never imagined I’d have letters after my name.
Why did I do it? Well, it felt like a lot of my peers had undertaken it and I didn’t want to feel left out. Also someone very close to me had graduated and was strongly encouraging me.
If I’m being entirely truthful, I’m also not getting any younger and have this recurring scenario of being homeless on Sydney streets so had to try and start future proofing myself. I’m not sure if the AICD will keep me from being homeless. However, surely, it’s a step in the right direction?
It's not cheap – circa $10k which is a couple of trips overseas (if you’re careful) or 20 long lunches if you’re footing the bill for your mates.
The preparation – about four weeks before you start two large black folders arrive on your doorstep. After you have organised a crane to get them to your kitchen table you quickly realise you’re supposed to study these lumps prior to starting. Yeah, sure. The volume of written material is enormous and while the course overall is fascinating, the reading can be very dull, in particular if you have a short attention span and find yourself nodding off after two pages of digesting. I did the best I could.
It’s not easy – I guess you wouldn’t expect it to be? I undertook the five days "in class" in Sydney which were hugely enjoyable and certainly the highlight of the course. I felt slightly anxious hoping that I was in the same ballpark intelligence wise as the other 30 odd folk in the room. My concerns were not warranted as the mix of people was wide and they were all lovely. The lecturers knew their stuff and were inspiring.
The exams – after the five days in class, you have 1 year (from memory) to complete an assignment, an exam and 20 multiple choice questions. I passed the assignment and exam with relative ease and was excited to nail the 20 multiple choices (in a 1-hour timeslot) and go on to rule the world. I ended up failing the multiple choice four times, had to repurchase another sitting ($120) and was within one more fail of having to redo a large portion of the course. This was stressful as I had outlaid $10k of my own relatively hard-earned cash and was struggling mentally to have to redo a large portion of it. Thankfully I passed.
Wrapping up – I’m certainly glad I did it, to date I haven’t utilised it apart from proudly including GAICD on my LinkedIn. My goal is to find a seat on a board or two and that’s the next step. The AICD does provide opportunities, but you have to be an annual member ($850) to receive the list (an additional $85) along with networking lunches ($150+ on average). There is an office in the city I can use, if need be, as part of my membership. To date I haven’t had the need. I must admit my nose was a little out of joint when I realised I had to cough up another $935 to gain access to advertised board opportunities having just recently completed the course.
All in all, I would recommend it. However, you do need time on your side as there is a bit to complete. I did feel a real sense of satisfaction once passing in the end.
If you see me homeless on Sydney streets in the future, spare me a gold coin or two?
Simon Hadfield is Executive Partner at DMCG Global, an executive search and recruitment business. simon@dmcgglobal.com
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.