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I can't comment on SANS in particular, but certifications in general tend to be worthless. Receiving a certification tends to be more a matter of persistence than competence. Worse, because the higher quality applicants generally recognize the futility in it, many of them don't participate, which means you can't even assume that someone without the certificate is unqualified.

As far as I can tell the best information provided by a certificate is that you should avoid applicants who brag about them (and for applicants, avoid employers who list them as job qualifications).




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