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MBA or CFA decision

Gotcha!

Jason7504 wrote:

jethrodane wrote:

Sorry to be a buzzkill but I think you’re overestimating the value of a degree from Portland State and the competitiveness of jobs in the Pac NW.  Many want to move to the area  for jobs, especially investment analyst jobs, are quite competitive to get.  I lived in Portland and Seattle and recruited for positions at some of the top firms in these markets.  I’d recommend the CFA as the best route for now.  You have many people attending good schools from around the country moving back to the area after college and competing for jobs in those markets.  Further, and I say this with experience in recruiting in those markets and working in the field, Portland State is considered bottom tier on a regional level. UW, WSU, Oregon, Oregon State, University of Portland, Whitman, Seattle Unibersity, Puget Sound, Reed, Gonzaga, Whitworth, etc. are all considers much better schools.  Portlamd State doesn’t even receive a national ranking in most school rankings and has an 85% acceptance rate which is very high for a public university indicating the lack of competitiveness at the school.  And again, I don’t want to come across as a negative ranter but you will have to overcome a lot to achieve an investment job considering the perception of the school.  CFA is a great start but networking will be key for you as well.

Thanks for the advice and brutal honesty! I know that Portland State isn’t ranked on most lists and isn’t as recognized as UW, WSU, etc but do undegrad degrees also require the same “brand” that MBA’s do? I just figured a bachelors was a bachelors at the undergrad level and didn’t matter as much until MBA. So will the CFA help make up for the lower tier bachelors? 

It’s great that you have alot of experience in the NW. I’am looking for somebody that know’s the finance industry in the NW well. It’s disappointing to hear that it’s going to be a rough path though. I will be done with the bachelors next March at Portland State then I just need to get something in the finance industry to start getting some experience. 

Where did you usually recruit from in the area? and what education/experience levels were you looking for in canidates? 

I hope you didn’t take on massive student debt to attend. This type of thinking is why so many millenials love Bernie…he’s going to try to fix their flawed perception. A bachelors degree is now attainable even through non-competitive online universities and the value of a bachelors degree alone has been completely diluted. Not everyone has to go to Harvard…but you cant assume that your no-name, non-ranked school bachelors (no offense) is as valuable as someone’s with the same GPA at a better ranked school. Brand matters at every level now. Like we said, it is a tough road for you so network. Also, “someone pursuing CFA level 1” has no value…anyone with a bachelors can pay the fee and open a book.

Ramos4rm, CFA, CAIA

I was at Blacrock and Russell Investments in Seattle and a retirement consulting firm in Portland.  We wouldn’t recruit from Portland State at either and wouldn’t even take a second look at a PSU grad unless they were already done with Level I at a minimum with above a 3.8 GPA unless it was a direct referral so you’ll need to network extensively to get a shot.  That’s just reality unfortunately.

Ramos,

I understand what you are saying but i guess i underestimated the value of undergrad brand too. I know Portland State isn’t a ranked school and not widely known but it was alot cheaper so I didn’t take on too much extra debt for it. I meant that i would take the CFA level 1 exam and if I pass level 1, that could look good on my resume too. Maybe a “little” boost. 

Jethrodane,

Well i guess i better start networking then! I do plan to take the CFA level 1 shortly after i finish the bachelors too. Since I only have 8 classes left, do you think i should just transfer back to WSU or University of Portland to get the 2nd bachelors? 

Jethrodane, - how was working for Russell in Seattle?  Heard lot of good things about them. 

Be yourself. The world worships the original.

I did not have a good experience but was there awhile ago.  Hence why I left for Blackrock.  From what I understand they have had a lot of turnover over the years particularly the last 3 in with their impending sale causing many to head for the exits.  They’ve had a lot of turnover at the executive level over the years.  Performance in their funds have been pretty bad over the years as well either benchmarked against other active funds or passive multi-asset exposure.  A lot of expensive multi-manager products that haven’t performed.  They are supposedly experts in multi-manager, multi-style, multi-manager funds.  Their target risk and target date funds which incorporate all they have to offer are typically one star or two star funds which have a negative rating from Morningstar which takes a lot of poor decisions to achieve.  What have you heard that is great?

that is too bad to hear…..couple of college friends went to work for them. one of them is still there as PM.  He said pay, benfits and hours are great.  Looking at glassdoor, PM makes around 300k all in.  I mean that is equivalent to about 550k-600k in NYC and he works 9 hours a day.  Although he told me benefits have gone down and small perks have vanished.  But very political over there.  I thought about working for them.  PM in seattle for Russell sounded pretty awesome. 

Be yourself. The world worships the original.

As someone who came from a non business school undergrad, I would recommend do both MBA and cfa. I’m finishing up the MBA this year and am sitting for level 3 in June. Taking on both has had a drastic impact on my career in just two years.

no matter what you decide, don’t do a second BA, that seems like a complete waste of time and money Imo.

Qualifications-

Good at doing stuff.

Original_username wrote:

As someone who came from a non business school undergrad, I would recommend do both MBA and cfa. I’m finishing up the MBA this year and am sitting for level 3 in June. Taking on both has had a drastic impact on my career in just two years.

no matter what you decide, don’t do a second BA, that seems like a complete waste of time and money Imo.

Thanks for your advice! It’s nice to hear from another non-business undergrad. What school are you attending for your MBA? And what are you doing for work currently, if you don’t mind sharing?

So you don’t think it’s worth it to finish up a second BA when its only 8 classes away? I was aiming for investment or equity analyst and eventually PM; but after hearing about all of the challanges and low probability of landing a job in that field, I’m leaning towards corporate finance now. Maybe a financial analyst and eventually financial manager. I would also prefer a decent work-life balance.

Im at NYU for the MBA. Currently working as a credit analyst. Just my two cents, if you do the BA, youre in the same boat as everyone else who has a BA and is trying to break into finance, but if you do the MBA/CFA route then its a pretty big point of differentiation, after 2-3 years of obsessively studying.

Qualifications-

Good at doing stuff.

you’re doing full time at nyu?

Be yourself. The world worships the original.

No, Part time. Can’t work if you’re full time, and I need to pay rent haha.

Qualifications-

Good at doing stuff.

I am in NYC as well…..I am preapring for GMAT but really not feeling the PT NYU program.  Not disrespecting you in any way.  I want an MBA.  It is just that if i am gonna get it even though PT, I would like it from U of Chicago or Northwestern.  In NYC we basically only have PT NYU program.  Forget  baruch or fordham etc.

Be yourself. The world worships the original.

how much is part time at NYU?

wht about columbia, surprised not many decents schools in nyc for mba

"You want a quote? Haven’t I written enough already???"

RIP

columbia does not have PT. only FT and EMBA

Be yourself. The world worships the original.

infinitybenzo wrote:

I am in NYC as well…..I am preapring for GMAT but really not feeling the PT NYU program.  Not disrespecting you in any way.  I want an MBA.  It is just that if i am gonna get it even though PT, I would like it from U of Chicago or Northwestern.  In NYC we basically only have PT NYU program.  Forget  baruch or fordham etc.

I’m generally against PT MBA’s…but if I had to choose, I would take NYU over Northwestern any day. Northwestern = Marketing.

Ramos4rm, CFA, CAIA

oh is that right?  bummer

Ramos - where did you get your FT at?  Did you learn, meet lot of great people, great convos, good carrer move? 

Be yourself. The world worships the original.

infinitybenzo wrote:

oh is that right?  bummer

Ramos - where did you get your FT at?  Did you learn, meet lot of great people, great convos, good carrer move? 

Sarcasm?

Ramos4rm, CFA, CAIA

no sarcasm.

I don’t do sarcasm

Be yourself. The world worships the original.

real question Ramos….I am not a big fan of PT but it is the best choice for me.  I have a job but also want a chance to learn, meet new people, pick up few things along the way from students, professors etc. 

Be yourself. The world worships the original.

how much is NYU part time?

network any decent?

"You want a quote? Haven’t I written enough already???"

RIP

infinitybenzo wrote:

real question Ramos….I am not a big fan of PT but it is the best choice for me.  I have a job but also want a chance to learn, meet new people, pick up few things along the way from students, professors etc. 

I haven’t done MBA yet…where did you get the idea that I had?

Ramos4rm, CFA, CAIA

when you said you are “generally against PT MBAs.”  Thought you went to FT MBA and saw some differences between FT and PT curriculum, class structure, lecture levels etc first hand.

I want an MBA mainly for the questions I asked above…..Enhance and further my network not just for my career but to make new friends.  Meet new people coming from differenct industries and have great convos and pick up few things here and there.  Also to take new classes as electives and stimulate my brain.  I am very interested in math classes if I have the option to take them. 

Be yourself. The world worships the original.

Nah…I’m applying this year though, finally got the score I wanted on the GMAT in October.

Ramos4rm, CFA, CAIA

good for you man.  I am going for 740.  if i get it i might go for FT?  where you applying to?

Be yourself. The world worships the original.

HBS, Stanford, Sloan, UPenn, Booth, Columbia, NYU

Ramos4rm, CFA, CAIA

that is awesome.  what did you get on your gmat? how much study time for you?

Be yourself. The world worships the original.

760…3 months.

Ramos4rm, CFA, CAIA

infinitybenzo wrote:

I am in NYC as well…..I am preapring for GMAT but really not feeling the PT NYU program.  Not disrespecting you in any way.  I want an MBA.  It is just that if i am gonna get it even though PT, I would like it from U of Chicago or Northwestern.  In NYC we basically only have PT NYU program.  Forget  baruch or fordham etc.

Any particular reason why the no go on Fordham?

Dash 1s - I want an MBA from a school that is higher ranked/more prestigious than my ugrad.

Be yourself. The world worships the original.