I just passed L1 and am about to start MBA program at a top 5 program. I am an older (33 and married with kid) career changer with no finance degree or experience. I am most interested in HF, BS, etc but open to all opportunities. My question is: Should I continue to study and take Level 2/3 during school, or focus on MBA studies and networking? Pros to continuing CFA during MBA: Boost my thin business cred, I’m motivated after passing L1, I’ll have more time during MBA than while working afterwards, I’m older and switching careers so need more of a boost than most MBAs, CFA will help with HF and buy-side analyst positions I’m most interested in, if I put CFA off until after school I’m worried I may never get back to it. It would be awesome to graduate with both CFA and top MBA. Cons to continuing CFA during MBA: MBA course load may be significant especially for non-biz type, studying CFA may cause me to miss important networking opportunities, not certain I’ll end up in a field where CFA is valued (may enter consulting, etc), worried I won’t be able to give Level 2/3 the time I gave Level I (and thus risk failing). I welcome any and all advice, obviously I am new to the world of business.
I’m potentially in the same boat so will be curious what others will say. My gut tells me that you should just focus on the MBA program and getting the job. Your time will be better spent there. I don’t think you are doing yourself a favor otherwise. I wouldn’t be afraid to resit an exam, especially if it is level 3. But if you have to learn a whole new curriculum, not sure if it is worth it.
I wouldn’t bother. If you are entering a top 5 b-school, why compromise the cost, effort and opportunities for 2 more years of CFA. MBAs are more useful for career changers so focus your attention on that. No point going halve-sies and risking CFA fail or networking opportunities AND spending less time with the family. Remember, to use the designation you need 4 yrs of relevant experience. You won’t get this by the time u finish ur MBA anyway. You have level 1 already… add that to ur fancy pants MBA and you got yourself a nice package 
So save yourself the 300+ hrs/yr, and spend it on ur family + mba. With this path you’ll have no regrets. But don’t take my word… ask the wife!
I wouldn’t do any CFA levels during B-school; avail yourself of the other opportunities such a program provides. Studying will be too big a distraction during the spring when you are getting ready for your internship (1st year) or your actual new career (2nd year).
I wouldn’t recommend studying for the CFA at the same time you are taking MBA classes; the MBA is too expensive to distract yourself with other things. HOWEVER, depending on which B-school you attend, you may find that classes wrap up for the year well before the June 2nd exam date. (Some MBA programs are done for the summer before May 1st.) If this is the case, you may find yourself in a pretty ideal situation: you can have ~5 weeks with nothing to do but cram for the CFA exam. A candidate without a lot of other obligations can jam 200+ hours of studying into this period.
Hey, I remember you Thaler; you’re our F-22 pilot. Where are you going to school… Chicago… Columbia… MIT… ?
It’s not that you can’t handle both, you probably can. The problem is you’ll be handicapping yourself in regards to the MBA. One of the main purposes of doing an MBA is to network, hangout, and make friends. If you do both an MBA and CFA at the same you won’t have the time to create and nurture the relationships with friends, to go to the many events that your school has, etc. I wouldn’t do it right now, you’ll have plenty of time to do it after you graduate. Plus, when you’re working, the firm will pay for the test fees.
MBA with top 5 B-school > CFA That simple. Focus on the MBA. Network, and get as much knowledge as you can. BTW - what school are you attending? GMAT Scores? Im currently on Lv3 of CFA, really debating on trying to get into a top 5 school. Please share your process and experience. Thanks
Nah, don’t do CFA. Just take finance classes there and enjoy life instead.
Thanks all for the feedback. I understand the advice to focus on MBA, but it’s tough to give up working toward the CFA after I spent so much time and effort studying for L1. I’ve got some time to decide- I think my first 1-2 months at school will help me understand the different career paths that are available and how challenging the time management is. 250 CFA hours could be do-able during the 5 off weeks between quarters and shortened MBA weeks. My path is very different from most: engineering undergrad, spent the past 10 years flying fighters in the Air Force. Had an opportunity to get out and took it, even though it meant applying in the dreaded 3rd round at B-schools and tough analyst job prospects. Interviewed at HBS (no) and Wharton (waitlist). Thankfully, I was extremely lucky to be accepted to my first choice- Stanford, starting there in a few weeks. My advice for applicants: Set yourself apart in your activities and essays, they want unique candidates. Even though I didn’t use one, I recommend spending a few dollars having one of the many MBA consultants out there review your essays/app/interviews. It would have helped me. Most importantly (and this is an easy one), apply in the first round! I’m not a great essay writer or well connected, I probably got in based on my unique background and a good (780) gmat.
Wow, congrats Thaler ! I’m amazed that any school – even Harvard – would reject a F-22 pilot with 780 GMAT. It can only be because you applied so late into the season and of all their spots were already full. In any case, have a great time at Stanford & keep us updated.
What was your undergrad GPA if you don’t mind sharing?
780 GMAT? O_O ay carumba…
thalerr16 Wrote: ------------------------------------------------------- > Thanks all for the feedback. I understand the > advice to focus on MBA, but it’s tough to give up > working toward the CFA after I spent so much time > and effort studying for L1. I’ve got some time to > decide- I think my first 1-2 months at school will > help me understand the different career paths that > are available and how challenging the time > management is. 250 CFA hours could be do-able > during the 5 off weeks between quarters and > shortened MBA weeks. > > My path is very different from most: engineering > undergrad, spent the past 10 years flying fighters > in the Air Force. Had an opportunity to get out > and took it, even though it meant applying in the > dreaded 3rd round at B-schools and tough analyst > job prospects. Interviewed at HBS (no) and Wharton > (waitlist). Thankfully, I was extremely lucky to > be accepted to my first choice- Stanford, starting > there in a few weeks. > > My advice for applicants: Set yourself apart in > your activities and essays, they want unique > candidates. Even though I didn’t use one, I > recommend spending a few dollars having one of the > many MBA consultants out there review your > essays/app/interviews. It would have helped me. > Most importantly (and this is an easy one), apply > in the first round! I’m not a great essay writer > or well connected, I probably got in based on my > unique background and a good (780) gmat. I suggest you request a recount and have HBS admissions officers come acquainted with the joys of a simulator or the mental gymnastics required to make it through any US fighter program. Not to mention a quick search of your name highlights you’re not a run of the mill F-22 pilot, if there is such a thing. If I were you, I would have used the essays as an opportunity to show how the lessons you learned spearheading a F-22 safety program could have been used to avoid BP’s blow-out in the Gulf. Maybe you did and just made them feel silly. Best of luck at Stanford and I’ll be looking for your name in the WSJ down the road. If you need a cabinet member, I’ll be willing. Kick some ass and harden up a bit. You come across a little too humble. The low hanging fruit needs to know to get out of the way.
780, that’s officially the highest score i’ve ever heard someone claim.
A handful of my friends have 760 and 770 GMATs. But they’re nerds, not fighter pilots. A H/S/W MBA class will have a number of 780 GMATs, and even a smattering of 790s.
Top 0.5% of 60,000 Air Force Officers and one of the first to fly the most advanced aircraft in history; honed analytical skills instructing advanced simulation computer models; ranked #1 in 8 different categories including Flight Lead of the Year 2006 (#1/80); developed global perspective by instructing over 250 aviators from 15 countries and operating at 30+ locations worldwide; proved problem solving ability while leading missions involving over 50 aircraft; chief liaison to collaborative ventures with Fortune 500 companies Lockheed Martin and Raytheon. That is amazing that HBS would reject somebody like you.
thommo77 Wrote: ------------------------------------------------------- > > That is amazing that HBS would reject somebody > like you. The moral of the story is that you want to hit MBA schools’ first (~October) or second (~January) round deadlines. Otherwise you’re probably going to find yourself SOL no matter how remarkable your application is.
Yeah, I’ve heard of a couple of people getting 760/80+, but that plus F-22 pilot? yikes. Regarding CFA, if you like doing it, you can, but you have to think about - is it really a good investment of your time? Don’t let the sunk cost of studying for L1 bias your decision!
thaller, you are making a 780 and you are equal. There is no way this guy is white. you are on the very very very end of the right tail if you are.