BusinessWeek has a new article on the proliferation of the CFA program in business schools.
On the increase in students taking the exam:
“The proportion of finance students taking the CFA exam has increased from 25 percent to 32 percent over the past two years, according to the CFA Institute, a nonprofit organization that awards the CFA charterholder certification, one of the most respected credentials in the investment management field.”
On the evolving composition of the CFA candidate base:
“The credential can help boost candidates’ salaries significantly and qualifies them for jobs as security analysts, portfolio mangers, and investment consultants, the organization says. Today, half of the candidates that sit for the first-level CFA exam are 25 years old or younger. As interest in the exam grows, many undergraduate business programs, as well as MBA and other master’s programs, are seeking to align their coursework with the CFA curriculum and help a new generation of students prepare for the rigorous exam, which requires 300 hours of study for each of the test’s three levels.”
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As more and more people gain the same ceritification or degree it loses its value. I spoke to a director of a company with and MBA who explained to me that his MBA hardly helped him in getting his job.
Therefore, the stringent pass criteria make for a more respectable certificate that not everyone can attain. I hope it stays that way.
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Where did he get his MBA from?I feel like more and more positions contain “MBA preferred.” Although not a requirement, I rather be in the preferred camp than not.
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True bpdulog, especially if the certification we study for is as tough as CFA :)
Best regards,
Sooraj.
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Schulich. Which some people may not know (or do) is #1 in Canada. Pretty serious stuff.
Still though. I told him I am studying for the CFA and he respected that. People in the business world know exactly how difficult the CFA program is.
in the old days, people used to ask whether they should do CFA or MBA, increasingly people need both
———————————————– Trust God and keep your powder dry ———————————————– Southern by the grace of God
different surveys rank different schools.
http://www.educationau-incanada.ca/educationau-incanada/news-nouvelles/2...
the FT one had rotman (U of T) first and schulich (york) 2nd
———————————————– Trust God and keep your powder dry ———————————————– Southern by the grace of God
100k appprox CFA charterholders
100k+ new MBAs each year
so why is CFA being devalued exactly relative to MBA?
MPS is marked to a curve, so in essence the CFAI control how many new CFA’s there are in a given year.
I don’t agree with your first analogy. The MBAs with values are the top #10-20 schools. The majority of the 100k+ new MBAs each year are worthless in finance. No one cares about an MBA from Devry University or wherever. Truthfully, maybe only the 500 (just a random arbitrary number) or so new MBAs each year actually hold value in finance. So if CFA charterholder to top MBA ratio increase dramatically, you could argue that CFA is being devalued in comparison.
Schulich is not number 1…its 4th..its normally Ivey, toronto, queens, schulich….
No Mcgill?
You got the interpretation wrong. As more and more people gain the certificaiton, it loses some value yes. But the KEY POINT is that as more people get it, it becomes almost a prerequisite. What was special is now the norm.
So if you don’t go for it, you’re F’ed before you start
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Rotman is #1 in Canada, Schulich is #2 (2012 world rank 44, to Shulich’s 59). Still, that could change in a few years, it’s always Schulich, Rotman, or Ivey on top.
http://rankings.ft.com/businessschoolrankings/global-mba-rankings-2012