I do have one little tidbit to share with this thread. If you look at the CFA trend in terms of a steady rise/increase of candidates and ultimately new members, the evolution of a much more difficult testing process/environment only makes sense and is logical in order for the organization to be hedged on the supply side. Otherwise if it was an easy process to achieve, it would most certainly dilute the CFA brand so to speak. Not to mention when you read about these lower percentage pass rates it also helps maintain a certain mystique or perception which ultimately builds value. Obviously your geographic location and specific career/company pursuits are very relative in this matter. But I would say if you had new money to put to work, you should consider the CFA over a tier 3 or even tier 2 MBA program. Not everyone can move to MA to attend Harvard or PA to attend Wharton, much less get admitted of course. But it would definitley behoove you to try to possibly pursue a top 50 or even 25 ranked business program if you really want to maximize potential return on your money.