CFA along with MBA Finance
5 years, 9 months ago #126
Hi, i have just taken admission in mba and i seek to do mba in finance. i am from an engineering background so i have limited knowledge of finance.
From what i have heard, my friends and seniors are also giving the CFA exam alngwith their MBA. i just wanted to know what is the ipmortance of this CFA exam, and does it really benefit an MBA finance student? Please help me regarding this.
CFA basically covers all what is taught in MBA Finance over two years.This is a certification which covers all the aspects of Finance.
Its in three levels mainly CFA level 1 2 and 3.
Many companies give preference to students with CFA.
so that way its beneficial.
I disagree with sunny. MBA in finance covers the topic in a broader sense as compared to CFA which goes into the depth of each topic. It is a very tedious course and requires atleast 4-5 months of intense study. Having a CFA is definitely an edge if a person is inclined to the finance domain. It helps the person to have a great start if he is wishing to enter the investment banking sector.
MBA tries to mould an individual to have a knowledge on many things so that he can be a successful business professional. CFA on the other hand helps him to be a master in finance domain.
If you wanted to have a career in Finance......alone CFA will do....you don't need MBA for that.
I would suggest don't see the trend and go for things.........whether some does or some doesn't...choose what you want to do.......?
Please don't take me otherwise......Decision making is important as far as MBA is concerned...and these days MBAs are expected to be Jack of all trades.....as Far as Finance is concerned is highly competitive in nature....anything extra shud add to your competitive advantage...
Dont you think that career is finance these days is considered incomplete without MBA ?
So if I just do CFA without MBA will firms like JP Morgan, goldman sachs, morgan stanley(who are regular visitors to B schools for placements) pick me up ?
If I am not CFA and just MBA finance still i stand better chance of getting through to such firms.
See if ur a MBA....U want to use CFA as a competitive advantage over ur peers so that JP or Morgan or Citi....comes and picks u up.......... over others....
Now if......you are just CFA......thats also develops an edge over others....but since the supply of MBA from Bschools is increasing..companies are using it as a criteria ...just like 12th Marks.......its all the game of supply and demand......when you have 3600 B-schools in india...and you get.....aprrox....100 students from each...ie 3,60,000..out of which if you consider top 30 B schools ...still it makes close...5000 students.....Now JP or Morgan has an opening of 30 offers...it will go to all top 30 B-schools and will choose the best...
Now the profiles across all the B-school is more or less the same..
so u have 1. MBA +CFA (level 1)
3. CFA (Level 1, 2, 3)
Now its the companies call what are they offering and which skill set is required by them...... If it involves a decision making role..then MBA is in a better position to take the calls
Please remeber....the core competency of an MBA is in decision making..but not in the regular work of finance....as accounting , managerial accounting....etc.....it is in the decision making which comes when you know the systems approach...as how different functionalities say HR, IT, Ops, FIN..marktg..etc work togetehr to produce greater good..