CFA vs MBA or master in financial engineering
I graduated from a college in dec. well, my GPA is only 3.2 and major is 3.6.
I only did an internship last winter and done some accounting jobs. Should I go to Master in Finance or MBA or CFA. Please share your experience.
Pursuing Additional Qualifications After Undergrad
Many recent graduates find themselves debating the merits of different qualifications and advanced degrees as they try to find a leg up in a competitive job market. For those grads interested in finance careers, there are many avenues to pursue. In deciding between CFA, business school or Masters in Finance, WSO community members offer the following advice:
- Comparing the degrees is like comparing apples to oranges
- It depends on what career path you want to pursue: CFA is good for asset management, MFin and MBA have broader exit opportunities
- Start working, do CFA alongside, then an MBA
- Do the MBA 3-5 yrs down the road after some experience, or else it won't add much
- An MBA can be a transitional point down the road
Certified Risk Management Professional @SSits" shared his insight:
I've CFA and MFin, going for MFE part time in next few years (once I get the math pre-reqs out of the way).
My view is MFin is much more rewarding than CFA.
My experience of CFA was that it was mainly a test of how much I could memorise while I was also working.
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Start working, do CFA alongside, then an MBA (in my humble opinion)
I second this.
that was plan when i got out of school but i realized that i was not easy to get a job. Then I thought I should do CFA L1 or MSF in order to make myself more marketable. Thank you for the advice.
CFA > MSF, unless your going to Princeton.
are you serious?? i mean, for fuck sake man, this guy might take your advice..this just pisses me off. The CFA (which i am doing) is a piece of shit that only consumes your time, and teaches you little tidbits of useless and outdated information...such as the difference between private bourses and bankers bourses, or what an ETF is, or my personnal favorite, Ethics.
The MFE, is a highly quanty masters, where you will learn and, usually be able to apply your knowledge..the CFA is for Financial advisors and PMs and other crap like that....
MFE>MBA(unless your an engineer or scientist by trade)>CFA
It sounds like you're taking CFA L1. The content for L2 is a lot wider and deeper than L1, which is just an intro. I agree w/ budfox and beatallica. I'd be more inclined to take the CFA than MSF, unless I got into a top program like budfox says. The CFA curriculum's quality is well known, while a less prestigious MSF's curriculum may not get the same hype...and CFA a lot cheaper.
I would do the MBA 3-5 yrs down the road after some experience, or else it won't add much, in my view. I think of an MBA as a transitional point down the road.
How many financial advisors do you see have the CFA designation? I would think that the CFA is too in depth for financial advisors that sell "products".
The nice thing is, you can get your CFA in addition to an MBA or MSF. Getting the CFA might give you leg up early on in your career and get you better positions which in turn will allow you to get into a better master's program, whether you chose MBA or MSF.
Comparing a CFA to a MSF is apples to oranges.
MSF incorporates a lot of what is in a CFA, not just level 1 material. MSF typically takes one year while a CFA takes at the minimum 2.5 years (more like 3 years). Even if you pass all 3 tests in 2.5 years you still have to have years of appropriate work experience before you can use the designation. All the MSF programs I typically mention all have solid alumni networks and decent placement stats. Additionally, the MSF will place you in IB/S&T/AM, etc. CFA is typical for AM, but is not as relevant for the other fields.
If you have work experience I would recommend an MBA as long as it is top 15. If you cannot get into a top 15 program or do not have work experience then I would say go the MSF of CFA route. A lot of people get both or all, just depends. Neither is worthless or a total waste of time.
Out of curiousity, can we get an update from you @MNGENA? I have a bachelor's from Harvard in government, and about two years experience working in technology. I am looking to break into finance/AM, and I am considering either CFA or MSF and/or MBA. Any thoughts from previous or new commenters?
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