Number of readers of my blog ask me whether it is a good time now to start CFA or MBA degree. In this post I will discuss pros and cons of starting any degree program at the moment.
As you know markets are stagnant now, there is informal hiring freeze and in fact short-term prospects are really bad. No one knows when markets will be back to previous state again. It maybe a year or even three. This timing is the biggest risk for your decision whether to move into further education or not.
If the markets rebound quickly, its pretty save to start let say 1-year MBA. When you finish your degree you will be in a good position to get on board in major investment bank. On the other hand if you decide to quit your current job and start your MBA now and if the markets are stagnant when you graduate you may be really unhappy that you did it.
So the solution is as follows: If you really believe that the downturn will be short go for good MBA program (you even still have time to apply). If your expectations render to be correct you will be in perfect position to accelerate you career when the markets rebound (this time with MBA). If you think that downturn will be longer, or you really don’t know think rather about CFA that will allow you to improve your qualifications while still on the job. In comparison to MBA CFA is much more flexible and much more cost-efficient, but you must remember that finishing CFA is minimum 2,5 year now.
Friday, April 4, 2008
CFA or MBA (or both)?
Subscribe to:
Post Comments (Atom)
7 comments:
In regards to the flexibility of the CFA, I just want to comment on the idea that simply being a candidate in the program is of value. Particularly once you pass level II, people from my school (University of Rhode Island) have the perception that this level is the true hurdle.
Of course, this is just my opinion. For what it's worth, I am only currently studying for the June Level 1 exam.
I think it is very interesting that people have been increasingly discussing timing the job market lately. I cannot say people who think in such a way would make good top-down analysts (just kidding).
j.gillettj@gmail.com
Interesting to see comments about CFA from someone who hasn't even taken the exam. You first have to walk the walk prior to offering the advice!
I got both MBA (from a top-20 program) and CFA. Honestly, I didn't put even half the effort for MBA than I did for CFA. There are no discussion sessions or profs to visit when you have questions. It is just you and your study materials.
The CFA is grueling, particularly Level 2 and 3.
I am currently level II candidate...
I think that CFA is in terms of the difficulty somewhere between hard BA and relaxed MA. However, what makes it special is the concentration of knowledge. After you finish CFA you really get well stuctured and focused knowledge of finance.
Hey! I came across your site..very very interesting.. and it seems like you could part some knowledge my way. I am presently an Analyst at a local bank in Dubai, at the financial institutions div..which mainly involves in global transactions and money market operations. Qualifications wise, I have an Msc in International econ, banking and finance from a reputed british university and a bachelors degree in accounting from a very reputed university in dubai. the only trouble is, i've had to work an office job whilst i did my studies and thus, did not graduate with really high grades. But I am very very very interested in being part of the investment banking industry. I am now considering my options of doing CFA...what do u think is the best way for me to reach my goal!?:)
also this might be of interest:
CFA or MBA: Which is right for you?
- Yuva / iamyuva@yahoo.co.in
Note to author: accidentally landed here to find this great blog. thanks for sharing your insight. will bookmark for regular visit.
i'm actually going to UCLA in the fall to do my MBA.
is a CFA an additional benefit to have?
Since most MBAs usually enroll after 5 or so years of work experiance, I think that taking your CFA or at least some of its levels in the interim would be very helpful if you really want a career in finance. The CFA will get you in the Investment Banking while the MBA will take you to the top (especially since it would help you be more well rounded). Just my ideas.
Post a Comment