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CFA, CPA or MBA?

Jul 9 2008

An eFC user asks: To break into New York's top financial institutions, would a candidate do better to pursue the CFA designation, a CPA certification, or an MBA degree?

What do you think is the optimum path?

Comments (38)

No substitute for a top 5 MBA in my opinion. I hold a CFA, though I don't think it has opened any doors for me.

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Comments (38)

  • I hold all three....and they aren't even related....each one offers different challenges & approaches...

    SAM 09 Jul 2008

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  • I'd say go CFA or CPA. I hold an MBA from a top ten ranked program and it is getting me nowhere in this economy.

    Joe 09 Jul 2008

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  • MBA from a top (1-15) school will get you in front of recruiters, a CPA or CFA won't.  Those are nice to have along with an MBA, but doing all 3 is probably too much.  I am in a top MBA program + working on the CFA + interning in IB.

    John 10 Jul 2008

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  • I think an MBA from a top school should be enough for any role. Rest its up to you how you sell your self. And yes luck always play important role in life.

    zubisco1 10 Jul 2008

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  • Dude SAM - I have an MBA from a top school and it is opened up plenty of doors for me.  A CFA is great but very specific to certain fields within Finance.

    Biscuit 12 Jul 2008

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  • No substitute for a top 5 MBA in my opinion.  I hold a CFA, though I don't think it has opened any doors for me.

    GA 12 Jul 2008

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  • Isn't  a CFA certificate being more concentrated and speacialized is more valuable than an MBA ? or is MBA is a prerequisite no matter what ?

    Anup 13 Jul 2008

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  • Anup, the CFA curriculum is indeed more "concentrated and specialized" than any MBA curriculum. That doesn't necessarily make the CFA more valuable. "Biscuit," above, said it best: "A CFA is great but very specific to certain fields within Finance."  ...especially, Asset Management (more the long-only firms, but hedge funds to some extent,  too).  A CFA also is a powerful tool in sell-side research. But my impression is that an MBA is often a prerequisite there, whereas a CFA may not be strictly required. For many other desirable areas of finance, especially investment banking, an MBA is required while the job specs rarely mention a CFA. So the bottom line is, whether you're talking about a CFA or an MBA, the influence varies with the business segment or specialty. Also be aware that not all MBAs are created equal. A top-5 MBA carries more overall clout and prestige than a CFA. While someone above posted that he holds a top-10 MBA and it's getting him "nowhere," just about every headhunter and career counselor I've talked to says just the opposite - a top-school MBA should get you an interview anywhere (though not necessarily an offer). 
    - Jon Jacobs, eFinancialCareers News

    Jon Jacobs 14 Jul 2008

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  • Jon,
    Which schools are considered top 5? Which survey matters? US News, FT, WSJ, BW?

    I assume HBS, Stanford, Wharton, MIT, Chicago, Kellogg, Columbia, Tuck?

    Any others?

    Brian Sullivan 15 Jul 2008

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  • I would like to add another fork in the opinion-

    How would people rank a Financial Mathematics degree if one wants to break into the financial world.

    I am currently enrolled in this program at a top university.

    Thaks

    Asif

    Asif Zaidi 16 Jul 2008

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