Comments on: CFA or MBA: Which One Should I Get?

By: Intelligent Speculator | Financial Ramblings

Intelligent Speculator | Financial Ramblings — Sun, 22 Nov 2009 23:04:50 +0000

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By: The Financial Blogger

The Financial Blogger — Thu, 19 Nov 2009 11:42:47 +0000

FP,
you are right, it is much easier to do your CFA while working in an investing firm. As there are many CFA’s, it is a long process to become part of a portfolio manager’s team.

Therefore, if you start your CFA, you are better off by doing it while you are working in this environment at the same time.

By: Four Pillars

Four Pillars — Thu, 19 Nov 2009 03:32:50 +0000

A portfolio manager once told me that a CFA is good if you are already working in a related job (ie junior investment analyst) so that you can get the experience needed for the designation. Plus so many people get the CFA that it’s not much of an advantage for investment jobs.

MBA might be better for someone who doesn’t have an investment job but wants to get one.

By: Credit Card Chaser

Credit Card Chaser — Thu, 19 Nov 2009 03:29:54 +0000

I think that your analysis is spot on. I went through the same struggle a few years ago and I ended up choosing the MBA over the CFA (I also have my CFP). I am happy that I ended up choosing the MBA as it definitely serves me better than I imagine the CFA ever would as I run my different companies. My next step is potentially to sit for the State of Florida CPA exam since I already have most of the eligibility requirements met – although I am just not sure I am ready for the time requirement for studying

By: Finavigation

Finavigation — Thu, 19 Nov 2009 02:25:51 +0000

If you’re not going investment analysis, portfolio management, or some other financial field that requires that you understand more complex quantitative concepts, I would go for the MBA.

The downside to the MBA is that it will be more expensive. The upside to the MBA is that you’ll have a well-rounded business education, you’ll have the opportunity to network with other MBAs, and having your MBA plus experience in your field will make you a more attractive candidate for management positions in your field.

If you want, you can always choose a finance concentration within an MBA program. Just about every MBA program I’ve seen has a finance concentration. If you want to work for yourself, you may also want to look for an MBA program with an entrepreneurship concentration. This would give you the opportunity to not only learn about what it takes to run your own business, but also make connections with other aspiring entrepreneurs that may someday reap substantial rewards for you.

By: kenyantykoon

kenyantykoon — Wed, 18 Nov 2009 18:03:30 +0000

i am more inclined towards the CFA because of the skills it will give you in advanced analysis in stocks and bonds. I seem to think that with it, you will be at a better situation to understand what your broker is suggesting when analysing stocks and getting investing suggestions

By: Jerry Hung

Jerry Hung — Wed, 18 Nov 2009 17:15:56 +0000

Depending on where “Pete” is, for example

Wilfred Laurier University in Waterloo, Ontario, they offer full-time or part-time MBA programs WITH CMA options, either in Waterloo or in Toronto downtown

https://www.wlu.ca/homepage.php?grp_id=10264&pv=1

By: Financial Samurai

Financial Samurai — Wed, 18 Nov 2009 15:50:03 +0000

Great topic! Gotta ask yourself whether you want to cont specializing in finance or branch out to another industry.

At your age with family, I wholeheartedly discourage you to go full time for your MBA, unless you are super rich already. Go part-time, and not miss a beat. The first year is brutal, but the rest is fun. I wrote a post called “To MBA or Not To MBA” on my site if you want to check the pros and cons.

If you don’t have a quality PT MBA program, get the CFA regardless. It’s worth the effort in the long run.

By: The Financial Blogger

The Financial Blogger — Wed, 18 Nov 2009 14:57:23 +0000

that’s because you are Brain

However, you are right about the cost and the fact that the MBA is ongoing compared to the CFA where you can study 6 months before the exam and take a break for another 6 months waiting for the next exam….

By: Four Pillars

Four Pillars — Wed, 18 Nov 2009 14:42:47 +0000

I took the first level of the CFA (and passed). I can tell you that while it is difficult, the time commitment and cost is nowhere near that of an MBA. You really only need 4 months or so of part-time study for each level.