Hi all. Which course do you think is more useful. Give your reasons please.
I think a CFA gives you legal priviledges, just like a CPA.
To paraphrase Marc Faber: We're all doomed, but that doesn't mean that we can't make money in the process.
Rabbi Lapin: "Let's make bricks!"
Stephan Kinsella: "Say you and I both want to make a German chocolate cake."
wat do you mean? Can elaborate? Sorry I do not have a financial background. Thanks
The value of the MBA is somewhat dependant upon the business school that you attend. The accredition of the school is extremely important, and of course the reputation. You are far more likely to make important connections at a 'big name' business school than one which few people have heard of.
So you would think that you do not learn much in MBA?
The usefulness of either is context-dependent. So please elaborate on what your goal is, so it is easier to determine how best to achieve it.
I think that CFA is a best option for you, I am sure that this will help you in your future too.
I am currently a CFA candidate which I started to pursue right after undergrad. I should also say that I work for a money management firm where the material learned in the CFA is very useful and applicable and the CFA is highly regarded at my firm - all associates are encouraged to obtain the charter. But like the last commentator, a lot of your decision depends on your goal and field of choice.
One of the great analogies between a CFA and MBA is that an MBA is like a large pond or lake that is very wide and expansive, but not very deep. The CFA is like a small puddle, but maybe a 100 feet deep or more. Breadth vs. depth.
Personally, I think the CFA is a better deal for your time and money in some regards (however, if you have no interest in investments then ignore this). The CFA will cost you around $3,000 to maybe $5,000 or more depending on how many times you have to take it and if you buy supplementary study guides (some employers pay the test fee though). They also recommend about 250 hours of study or more for each test. However, because the tests are so rigorous, and because CFA has built up such a great reputation around the world, the charter becomes a great signaling device to others and potential employers. Unfortunately, the MBA, like many other college degrees, are becoming very diluted. Unless you get a top name like Booth, Kelogg etc., you end up paying much more money and probably time to get your ticket punched like all the other MBAs out there. Also, an MBA without real world working experience isn't worth much in my opinion.
Hope that helps, feel free to provide more specifics on what you are trying to accomplish.
"I think a CFA gives you legal priviledges, just like a CPA."
Just to clarify from a current CFA candidate, the charter does not give you any additional legal priviledges. While highly regarded and encouraged by many investment managers, it is not legally necessary to work in the investment industry like an accountant would need a CPA.
As an aside, I think the CFA is a great example of a private market solution to signaling to others your credentials and competency. Unlike accounting, law or even medical licenses which are controlled by the state, you have a private institution that grants a charter to those that meet their rigorous qualifications. After so many years in the business and their "gold standard" reputation, they no doubt have an incentive to keep their name clean by preventing cheaters on the test and revoking charters from those who commit legal and ethical violations in the industry. Contrast this to the many state granted monopolies.