Come on, Blue. I'll admit I'm biased, but a CFA is an MBA-lite. VERY lite. After all, anyone can just sign up and take the CFA with maybe a month of cramming before each of the 3 levels. A top MBA, on the other hand, requires that you first get in, and then that you devote too many to remember hours per week for 2 years straight (or 4 or more if done part-time while working), competency in multiple disciplines (including finance), and, worst of all for the misanthropes among us, endless team projects. It's an entirely different level of commitment, among other things, and those in the know understand the difference. Still, having both as you do, is certainly an extra feather in the cap.
MBA. CFA is very limited and focused on specialisation. CFA is basically a cram course. MBA gives you an option to move across industry and function. If you do it from top university it will open significant opportunities. If you do an MBA from top university, the interaction you will have during your course will help you immensely. basically you are amongst a bunch of highly motivated people, who have had a track record of success before they got in to B-school. As a result you will get exposed to some good quality mind during case studies and group assignments. You will learn to defend your ideas against equally competent people. Don't underestimate that fact when choosing between MBA and CFA.
How does an MBA stack up against a Masters in Finance or a PhD in Finance with regard to procuring a position in the investment management industry??
I hold an MBA from one of your listed "top shcools" and a CFA. As far as FINANCIAL knowledge and depth of cirriulum, an MBA does not even come close to what the CFA encompasses. The MBA does however provide networking, non-financial related topics of learning (business models, current trends, leadership building etc.) as well as development of presentation skills. The case study methodology fosters excellent open-forum debates. The most important of these being the networking ability. Just my .02
There are so many MBA's out there. I believe an MBA is generally most valuable when (1) it comes from a top 10, or better yet, top 5 program; or (2) it will allow you to advance higher within your present company (sometimes getting it from a 2nd-tier school will be okay then).
You can spend your life in school and certifications pandering to others whims, or if you really are smart and able, go out and start a company. The bottom line though is that you will never be in control of your own destiny working in a company in which you dont have a significant ownership interest.