I was wondering… How much influence do you think being a CFA have for an MBA application (top schools)???
Dude everything helps a bit. It depends on what do you want to do post MBA. If you are from a non-banking industry trying to do the switch in today’s challenging environment, I guess it might help only a bit. However having atleast a level 1 in your pocket helps to crack most of your finance courses in class and puts you ahead of the competition. My 0.011 £
DD made a good point. I knew zilch about finance, econ, or accounting when I started my MBA … I thought the core finance classes were tough. Easy math, but the concepts took a while to warm up to. It’s just a different way of thinking coming from an engineering background. So, if I had L1 under my belt going into my MBA, I would have been a huge step ahead of the game. I don’t know how much it will influence your application though. That’s weighted heavily on GMAT, resume, UGPA, your interview, and undergrad school, in that order (my opinion).
If you have earned the right to use the CFA designation, then you’ve already held a position that requires direct involvement in the investment decision-making process or responsibilities that add value to that process for 4 years. The work experience alone should help your chances a great deal, but what if you have no work experience and have passed all 3 levels? You still don’t have the designation. Without any relevant work experience, does having passed the three exams by itself have any influence on B-schools admissions?
if you are a charterholder then it might be useful especially if you are crafting an application with finance/investments as your post-MBA career interest. If you are planning to take the Level 1/2 exams (as some people are) to enhance your application then your efforts are better spent elsewhere. Most Ad-Coms cannot make much of “CFA-Level 1”.
It might be helpful if you write in your essays how CFA helped you identify why you need to pursue an MBA, mentioned a few things you’ve learned and CFA itself why it’s not sufficient. That’s what I did. Not sure if that helped, but I got accepted.
i think it helps that it shows you are serious about the industry. passing level 1 before b school would have been great, and certainly if you can do level 1, life will be much easier in core finaance classes year 1. so i would talk about it in your essays and use it in your interviews once you are in school. but, i will say that interviewing iwth level 2 on your resume instead of level 1 (anyone can write this, as long as they pay the money) can help you stand out.
Your background. MBA. Goals Post MBA. Viz a ticket into a top 10 bschool program, it’s about ensuring these dots connect. Prepping for the CFA will help, if your end goal is finance and especially if you’re non finance pre MBA.