mid-level mba or cfa in tomarrows market?

Discussion in 'Professional Trading' started by Hihatrider, Mar 2, 2009.

  1. *I would first like to note that i have recently read through a thread posted in this section concerning this topic but I decided to make a new one given the fact that the first one took place in mid 2004. Considering recent history and my own personal situation, I would like to get some added information if anyone would like to be a help. Thank you.*

    ***If short on time, feel free to skip the back story by going to the paragraph marked (***).

    I am an undergrad at Jacksonville State University in Alabama majoring in Finance. I understand that my school is not very well known and is inexpensive, but at the same time it also has received higher accreditation than many more expensive schools within the state.

    i will be graduating after this fall semester and had up until recently been dead set on getting my MBA at a relatively near by school while employed.

    i have since researched the CFA program and am know leaning toward it instead. As a career focus, I am open to many different areas of finance including portfolio management, asset management, ibanking... the point being that while my focus isn't exactly narrow, my every inclination has been that i definitely want to stay in finance.

    ***My question is, given my situation and the current/near future status of the financial markets, should I, upon graduation, immediately begin studying for my first cfa exam or seek out the best quality MBA program in my area?

    Another reason why i created this new thread was because i wanted a more realistic answer personally. i am anticipating my graduating GPA to be in the 3.4 neighborhood. i don't believe i'll have access to a top-tier mba program (maybe not even second tier) so i tend to think that the CFA would be more beneficial.

    the median (not average) salary data on CFAs are as follows:
    less than five years experience w/ cfa- $119,000
    5-10- 190,000
    10+- 250,000

    one of my teachers says he doesn't know anybody with a CFA who isn't making six figures. this is a lot of money to me.

    Again, any consideration at all would be greatly appreciated.
  2. Get both, eventually in the long term.

    That's what I'm doing. Taking CFA level 1 this june, then taking GMAT , and gona aim for some decent MBA schools, aiming for NYU to be exact, since its in my ballpark range.
  3. I would assume that most MBAs know how to spell the word "tomorrow". Then again, probably not.

    Don't waste your time. The MBA is the new law degree.

    Get an MS in Information Systems or Accounting. There will be better job growth in the next 10 years for IT specialists and CPAs. Check BLS.gov.
  4. interesting, is it true that CFAs start out at these salaries? seems high for starting salaries.
    anyone else want to weigh in on this?
  5. I failed the CFA level 1 exam 5 years ago. I was all excited to start studying but once I got all the books, I was like "no way, this is not for me". I'm definitely not a quanthead.
    So I didn't study at all but I took the exam just to see how well I would do.
    Well anyway, self study is harder than it seems. I would take classes to help you out and keep you on track.
    BTW, right now CFA enrollment has probably increased by like 300%.
  6. LOL, where are all the current unemployed MBA's going?

    Investment Banks are gone...so "WALLSTREET" does not have much in the way of jobs for MBAs.

    When I say gone, I mean the whole Business Model of IB is gone.

    You could spend a year in MBA and possible get with a Private Equity or VC firm.

    As far as money, I guess you will find out when you graduate from xyz MBA. Right now, MBA's are not getting the Pay that they once did.

    Series 22 has brought me far more money than 90% of the MBA's out there. So, it is all realitive.

    Figuer out what your passion is, what you want to do, enjoy life and just do it. Don't worry about Titles. They are like the guy who bought the "Porsche ", the 5 bedroom house and Hugo Suits when he really was not Liquid. Those things went away fast and his "Image" ment nothing. Same way I feel about "TITLES". Either Make money or be poor and what ever way you make money...G-d Bless America!

    The PUBLIC SECTOR has a huge black eye right now and when the Unemployment numbers come in at 750,000 jobs lost , mainly from the "Public Sector", in order for those companies to boost up their bottom line and EPS, you might rethink your future as an MBA.

    But, you never know.
  7. GreyBeard


    I have a slide from an old CFA Institute University Partner's Program that shows 2005 median salary for a CFA Charterholder with no MBA as $165K (I believe this is with 5 years of work experience) and someone with both an MBA and CFA as receiving $195 median compensation.
    Getting a CFA is more difficult than getting an MBA.
    Good luck!


    Have you seen the data on mortgage delinquencies and housing foreclosures? I think we must be going to ... Well, then you look at the data closely. The bulk of the problem is concentrated in 4 states.

    I believe your median data is skewed. Most CFAs work in NY or Boston. $100k+ is not a great salary in NY (probably not in Boston either). I worked in Atlanta. Without going into too much detail let me just say, again, I worked in Atlanta (not NY or Boston).

    By the way, I'd do (DID) both concurrently. Take Spring quarter off to study for the CFA and get the MBA during the other qtrs. If you're focused on finance in the MBA, there'll be enough overlap to significantly help.
  9. pupu


  10. I've been seeing a lot of openings for credit analyst positions...
    #10     Mar 5, 2009