subject: Cfa Vs Mba - Well, What Career Are You Getting Into? [print this page] What can I do with CFA? Usually asset management or institutional investing for millions of dollars.
The MBA route has more alternative opportunities based on what you've done in the past, past experience, existing work experience. You can work for corporate america: ice cream company, toy company, supermarket foods company, car company, etc. Banking/private equity also takes MBA grads.
For corporate america, the MBA is widely respected. And so folks, people, finance newbies will often compare CFA and MBA and the argument will be like comparing apples and oranges. Almost.
For Fund Money Managers, Investment Managers, Asset Management professionals a full CFA Certification (Levels 1, 2, and 3) gives a great boost. It is great for presenting yourself to clients who are giving millions of dollars for your fund. That level of credibility, trust, respect of having the CFA is unparalleled. It's also good to know that this field is highly coveted. There are fewer entry level positions in this field than there are in all other fields of finance...largely because this is just one field.
On the flip side, in many other finance fields, professions, jobs, having the CFA Certification is just considered as beneficial, a bonus, a plus.
Aside from asset management, CFA is highly desired in the field of EQUITY RESEARCH. THese are the folks that write reports on the earnings of companies and their reports are read by all of Wall Street. You'll often read a Morgan Stanley or Goldman Sachs report on whether they think a stock is a buy or sell. And these reports document the fundamentals for understanding the business of that company. And so, a CFA designation is highly coveted and is a big plus to have your name distributed throughout wall street with CFA next to your name. It's good for you, it's good for your investment bank (ie Goldman, Morgan Stanley, or others).
For all other fields, professions, jobs, MBA is preferred and CFA is merely a supplement.
HOWEVER, EVEN SO, NEVERTHELESS, in all the above cases there is a catch. You need to have work experience BEFORE getting an MBA. Usually you'll need 2-5 years. And the best thing you can have (other than good looks and good voice), is to have prior FINANCE experience to get those first several years of experience. How do you get those jobs when you have NO PRIOR experience? That's when CFA Level 1 might you help you stand out among job applicants, candidates, seekers and break in. In the early stages of your career, working life, job search, it may be difficult nailing a job because there's not much prior work experience to refer to. And especially if you don't have a quantitative major for your undergraduate college degree, the CFA Level 1 certification, exam, stamp of approval will help complement, supplement, give credibility to your liberal arts major.
If you prep for the GMAT, you might consider taking the GMATPill Study Method. And if you opt for, decide to take, go the route for CFA Level 1, check out the CFASOS / CFAVideos at www.cfasos.com.
