The MBA seems to get mixed opinions in the ER world. Most people move up fine with just a CFA. But many still have both. It can boost your credentials of course, but the CFA is seen as more valuable for an ER career. If you want to break into ER from another role, however, it can help because ER recruits pretty actively at the MBA level.

 
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ER is really not that easy to break into. There are far fewer spots than traditional IBD. Spots are filled as needed since it's not a traditional 2-3 years and you're gone like IBD. Most boutique and middle market banks don't even recruit at the undergrad level and would prefer someone with a couple years experience and/or an MBA/CFA.

I broke into ER straight from undergrad at a MM bank but it was probably more luck than anything. I work for two analysts and both went into ER post-MBA as associates. We just hired another associate not too long ago and he also has an MBA.

So is an MBA necessary to break into ER? I don't think so but it will open up more opportunities to you, especially if you have industry experience and a finance background. The CFA is also another option that could help you out.

 

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