Author Post
Topic CFA, MBA, or CPA
Caro
@2005-03-30 05:26:38
Hello guys,

I currently work for a Bank in Florida. I was just promoted to Corporate and as Jr Financial Analyst(Budget dpt). I'm graduating with my BBA in Finance in May 2005 and I'm not sure what career path to follow. I like finance and accounting. I'm currently 26 yrs old and I'm very confused which career to choose. Unfortunatetly, I'm not able to choose one of the big schools to do my MBA, so I do not know if it is worth it. According to your experiences which career will give me more opportunities to find a high paying job (staring $50,000) with the experience that I'm obtaining?

I will appreciate your advice.

Thanks
abcxyz
@2005-03-30 14:47:26
go to a bookstore and look at the financial mgmt book that is a reading requirement for CFA L1 exam (L2, incl). Within its first chapter you will see that 3 different path that is supposed to be important for the CEO.

I think it can help you out in visualizing the path - and there are many ways to attain the goal, and along the way you can/will make mistakes but its how you use the miscalculations to arrived at your goal.
xppman
@2005-03-30 23:58:54
Go for the MBA. In almost all cases, the CFA will make a difference only if you add it to a strong existing skill set and experience/background. It doesn't really open doors for you - it just helps open wider those doors already open.

The MBA is more likely to open a few closed doors because it is so broad in its scope. Also, since you're not 100% decided which area (i.e., finance, acctg, etc) you like most, the MBA could be an effective way to gain exposure to various topics and help you figure out what you prefer.

If you get the MBA from a lesser school, you should supplement it with something else, such as the CFA. You might want to do both. If so, do the MBA first. It will make the CFA a little easier since they share a small amount of content.

Do the CPA only if you really want to be an auditor or budget guy your whole life.
ncfa
@2005-04-01 13:03:12
hmm as u r already in the "job shoes" so u can eazily grab "mba" at first then at laterz on go 4 "cfa" a big bonus , but keep in mind never chg job unless u surely have the confirmation both tthat its granted + u can chg ur mind into "cpa" thats gonna need to many adjustments for u as i m in audit field so gud luck
DMHA
@2005-04-02 04:48:28
1st of all, what you want ??? Money 1st, personal interests 2nd. I hate audit, but thanks to audit at the same time. It gave baluable expr in banking. Now, I am RManager (debt and equity finance). And so happy that did not spend time on CPA. My quistion is in what industry do you prefer to work, what do you like ???
Do you have your carier strategy ???
llodza
@2005-04-13 10:23:45
I am surprised u can get an MBA straight from school without any real experience. thats a waste of time. CFA IS A MILE DEEP AND A FOOT WIDE IN FINANCE WHEREAS AN MBA IS A MILE WIDE AND A FOOT DEEP IN FINANCE, NOT A GOOD CHOICE IF U WANT TO SPECIALISE IN FINANCE. GO FOR CFA BRA
stefdunk
@2005-04-14 01:02:49
It depends on what you want. An MBA is much broader than either a CFA or a CPA, and will open more doors. However, make sure that the MBA is from a reputable school, otherwise it's just a waste of money.
If you know you want to be an accountant/auditing, get a CPA. If you definately want to be an analyst, go for a CFA.
If you're not sure, do the MBA. You get more breadth, and can really find out what you want to do. Also, if you change your mind, you'll find an MBA to be a lot more flexible, whereas a CFA or CPA isn't worth much if you choose not to go in that specific direction.

I'm doing both an MBA and a CFA. The MBA teaches me the broader stuff, and I'm learning a lot about business, management, etc, while the CFA is very in-depth about financial analysis, but teaches little else. my long term goal is to earn my stripes, so to speak, as an analyst, but to eventually run the company.

Also, any worthwhile MBA program requires a few years of solid work experience after you graduate, so if I were you, I'd get either a CFA or CPA, whichever is better for your job, and then apply for an MBA in a few years - at a top school.
tope
@2005-07-25 13:15:44
I think CPA is better than CFA bcoz being a CPA open doors especially if u r a fresh grad & its one comprehensive exam unlike CFA lvl. 1-3 & really doesn't boost ur resume especially if ur a fresh grad! But if ur a finance major... then this is the only option 4 u!!!
To end this statement if u wanna make it worth ur while ie passing a hole thru a sewing needle kinda trouble! U might wanna reconsider bcoz something that gives off a better return ie ROI!!! Remember CFA lvl.1 has 34% rate of passing! Think about it!!!
suave
@2005-10-31 07:49:41
I think:-

MBA is a matter of FROM WHERE?

CPA- is for auditors

CFA- is for financial specialists!
jessied
@2006-02-20 22:43:54
I did not have any idea of what I was good at either what I wanted in my life. I am 32 and starting to get the real feel of who I am. My point is, if your concerne is only based on the money issue, then there is a lot of ways to earn it : start or buy a business, be a popular singer, merry a rich person... If your underlying question is "what should I choose to feel confortable with my career path", then you may want to spend a little more time on "what I really enjoy in my past and current jobs".

I just want to share with you my personal experience. Diplomas may open some closed doors for you, but they do not get you the job you want. It's your personality and motivation that et you hired. I've being asking myself the same question as you do for several years and this is what I learn after earning a MBA and a Master degree in Finance. I now consider to take CFA not only for the credential but also for the sake of challenge. Besides, I hated finance when I wan 23. Now I love it and I am doing all my best to start a new career path in it.
bhaveshjj
@2006-04-14 12:52:19
hi guys,

i have currently finished my +2 (12). am confused as to what to do. im interested in financing but what to do actually- cfa, mba in finance. which will provide me better scope in the future and HOW TUFF IS THE CFA IN ACTUAL?
i'll appreciate any help.

thanking u'll in advance.
fatu
@2006-04-26 09:59:04
1 am also in the samE shoes of "MBA or CFA?" It is giving me a big headache. However, i think i would go for CFA first plus a job experience then MBA.
stephane
@2006-05-03 20:27:13
CFA is far better than MBA...Mba is too easy, especially if you graduated in Finance like I did. You will learn nothing new but get broader concepts and build a network of interesting people for ur future. As already said above, the matter is which school...

CFA is for financial skills and deepen ur knowledge in finance.

I asked my HR coach on what should be the best for me. In my area, international industry, MBA become far too common. CFA is really a +. Among 2000 employes, only around 10 people have CFA and I am quite sure that they are around 500 holding MBA. Think you already learned that what is rare is expensive and.....goood. It's worth give it a try!

cheers

CFA Level I candidated with 5y experience.
asnc
@2006-05-24 02:15:27
Hi guys,

I am from Brazil and i´m planning to move to Canada to work as financial analyst. I´m engineer and MBA, but the MBA I did in Brazil is not valid outside the country. What do you think about the CFA for me? Will it open doors for me? Now i work as finance coordinator in an American Company in Brazil.
SophiaCS
@2006-06-05 06:23:10
Hi all,

I'm really freaking out now about what I'm gonna face in the very near future. I'm starting my MBA in America this fall semester (The school is Brandeis University in Waltham, MA). At the same time I'm also very interested in CFA and planning to take the L1 exam in December 2006. I have a Bachelor's degree in Finance so it doesn't seem too far-fetched for me when I first looked at the CFA curriculum. I love finance but I've got very little work experience. I really don't know if I'm buring a candle at both ends or not. Please help advise me on this. Really appreciate your helps.

Regards,

Sophia
ncfa
@2006-06-10 22:13:28
1st do mba then cfa if u like otherwise does not matter when u r in "shoes"
JZino
@2006-06-11 20:53:26
ASNC,

The cfa is disproportionately popular in Canada. At least partially because schooling isn't as distinguishable there (There is a notable difference between a Wharton MBA and a University of Florida MBA. Notsomuch for York vs. UBC).

I work in NY. My cousins work in Toronto and all who are in finance are taking or will take the cfa. I recommend it. Good luck.
Bolshevist
@2006-06-16 06:38:19
Hi All,

I am an Electronics and comm enginner working for a Software MNC.
I am also planning to take CFA level 1 this dec..

I know that sounds very weird...an electronics engg....doing a software job..and planning to move to finance...

Ya i am hell crazy abt finacial markets...currently i am working for a Mutual fund client..

I plan to clear CFA first.. and by that time i 'll have 3-4 urs exp ..and then go for an MBA ...finally switch for financial consulting.

Any comments GUYS and GALS
ncfa
@2006-06-17 04:45:00
wao wat a twist but do keep in mind the differential u expecting in either pay or job satisfaction u gonna have dont think n e major bundles u will have lolz
NewYork
@2006-07-06 21:11:27
actually I will graduate next month as MBA. And it's not from top tier Universities. I tried to get the job in NYC last month. But there, they all require MBA from top tier ;) I now have to prepare for CFA. ( Even I dont have any experience in Finance Industry. But I want to make a shift. CFA give me that chance, I hope)

MBA is just like the clothes you wear.
CFA is like your real soul, real skill.
So, in oder to take a real girl, which should you choose ? BOTH!

In whichever order doesnt matter! just at the end, you have BOTH!
xuandinhbank
@2006-07-10 07:12:49
Lovely enjoy the topics, I am rather a newcomer in the topic. I schedule to gel level 1 this Dec, 2006. Hope to receive your help
yomi
@2006-08-01 04:33:45
I think it all depends on your area of specialisation.I you wan to specialise in Financial markets,CFA is the joker !
TheProfet
@2010-04-22 13:05:12
I have an MBA from a top tier school (NYU) and I have my CPA. I am currently sitting for level 1 of the CFA exam. While the MBA and CPA are great job magnets (all I have to do is send my resume and I get called for an interview 95% of the time), I feel that the CFA is a stamp that tells potential employers and clients alike that you are a sharp, well-rounded professional that can excel in many different disciplines. It only provides more opportunities, not the other way around. Good Luck!
yeasin
@2018-09-07 10:53:15
I think u can do cfa after MBA. MBA is about your ultimate goal and cfa or cpa or acca is your depthness what u r working in your side.

so be specific about your after 10 years goal. Either you hold a top position in auditing or in finance after 8-10 years.

Thank you.