Basic info:
Entrepreneur
Rising Senior
Non-target
GPA ~ 3.0
Econ (BS), with minors in Business and Stats. {I can add a math minor or a Finance major and stay an additional semester)
Question:
Which program, CFA or MFin, would you suggest for me? And which program would you suggest generally?
Cheers,
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Add and finish your finance major and get your CFA - entrpreneurship is always a plus and could potentially help you get into VC. Some people swear by MFin, but not me. Eventually a lot of groups would take the CFA more so than the MFin. (at least from a certification vs. masters' degree perspective). MBA would be a different case though.
what are your career aspirations? CFA means next to nothing if you want IBD, but means everything if you want ER
Mfin, buys you time to sort your shit out, take CFA I at the same time and gives an opportunity to re-brand.
The CFA is only relevant to ER/AM positions, and just doing L1 is not equivalent to a good MFin. With that said, oif you can't get into a good MFin program (top 15-20) that places well into finance, then go for the CFA and get to L2 at least before applying so that you differentiate yourself from all the people doing an L1 to get their foot in the door.
MSF vs. CFA: Best Route For Me (Originally Posted: 11/28/2009)
I desperately want to break into finance; more specifically, I want to get a job in AM as a Research Analyst (or whatever other titles refer to the entry-level position in financial analysis). The problem is, I haven't went down the optimal path, so I'm trying to figure out how to set myself up now. By that I mean, I didn't major in finance, didn't intern, haven't built a network. On the flip side, I am working towards a masters degree in economics, have good grades (majored in econ and minored in math), have pretty good quantitative skills, and am analytical. Ideally, I'd get an RA job in AM after earning my masters in econ, at which point I could study for the CFA while getting relevant work experience (and could worry about an MSF or MBA in the future). Unfortunately, I fear that this probably won't happen, and I'll have to consider backup plans for getting this job. So, what is the best way for me to achieve these goals?
1) Join an MSF program while working at whatever job I could get (which maybe outside of finance, or in commercial banking, as a finance temp, or some other less competitive finance job).
2) Pass some of the CFA exams while working at whatever job I could get.
P.S. Feel free to offer other options/routes as well.
Both, I was in your boat as well. You really need both in this case. Masters will give you the finance background to put you on par with other finance undergrads, and CFA proves you know your shit. I'm getting interviews now, but only after doing well in a MSF program and passing Level 1.
@econ, It's great that you are willing and excited bout pursuing an advanced degree or a CFA. The problem is the "haven't built a network." I'm taking level 1 in December, and I can tell you that the most important part of the job search is getting in front of the hiring managers. That's where the CFA society meetings come in. Members of the CFA society (people who have the jobs you want) get together to talk about their jobs, the market, baseball, whatever. Can you think of a better place to network for that analyst job you want?
CFA flat out will NOT help you break into the industry. You can't even use the CFA designation until you have 4 years of investment-related experience. There are a zillion computer programmers who have passed all three levels who can't break in.
An MSF or MBA from a reputable program will at least connect you with employers in the industry. It is the costlier option, so it will require some due diligence on who hires from your program and what they pay. MSFs require at least Diff Eq on your transcript and passing CFA level 1 would probably help your application (and differentiate you during the recruiting process).
CFA vs MSF: Which would YOU rather have? (Originally Posted: 10/25/2015)
Personally would rather have the CFA. Of course, that hinges on if I'm already in industry.
bump
Depends what you want to do. They aren't the same. If you want to be in ER or Am then the CFA is what you want. Me personally, I'm happy with the MSF.
Id say the CFA is harder to get, but the juice isn't always worth the squeeze.
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