Just curious to know how many MBA’s from Top 5-8 b-schools (Harvard, Stanford, Kellogg, MIT-Sloan, Columbia, UChicago, Tuck etc…) are actually pursuing CFA charter. It would be even more interesting to know why they would want a CFA charter after a top school MBA.
because i am a masochist
Little lower than Top 8 (Darden) but working in investments for the 1st time. I decided to take the CFA to learn more about valuation, derivatives, asset classes, etc. to round out what I learned in b-school. I don’t think I’m learning a whole lot as the CFA has disappointingly been a lot of memorization more so than knowledge-building for me. I’m am a little bitter having just failed Level II - will probably give it one more shot on Level II because I see some value as far as making myself marketable to prospective clients and employers (if that ever comes up).
DCGuy, I appreciate your response and honest opinion. Good luck for L2 next yr. And I share the same thought… having CFA is like having an extra arrow in your quiver. Btw … Darden is pretty good and I plan to attend the same school… 
Good luck for L2.
CFA and MBA are different. There are tons of CFA vs MBA threads where people have dicussed the issue extensively. To make things simple: get both.
To elaborate, I was looking to move into investment mgmt from corporate finance and thought it would help (even though I have the MBA). Now that I made the transition (although ended up in trading rather than research), not sure that it matters anymore…only level 3 to go though, so can’t give up now.
I am but because I use the CFA as a form of deliberate practice; no real need for it (career wise at this point) other than for my ego.
Not all MBA’s have strong finance specializations. Having said that, can’t hurt to credential up. If for no other reason, it’s always better to be the guy that blows other people out of the water on paper. Whatever school you go to, the CFA will enhance your attractiveness to employers.
Bostonboy, Thanks for the note. I was wondering how has been your experience in trading so far. I am still thinking b.w trading, ER and/or risk management. IB is not my cup of tea. Any feedback based in your exp in trading??
I’m at Kelley - Indiana - getting MBA and MSF. The Kelley program is corporate finance mainly, the CFA covers investment more (obviously). Some potential employers favor one over the other, and with my limited experience I’m trying to look as good as possible to get the foot in the door - trying to have as much on paper to try to be remotely competitive.
Key difference that I think will be more relevant in the future: an MBA requires no ethics or loyalty to anyone but yourself. Once you get your MBA, you are free to wreak havoc with your newfound crown and walk away when the dust settles. Witness Kyle Bass who bet against a lot of new MBAs on the MBS and made a ton of money. As a CFA, you can have your charter revoked, much as a doctor or lawyer. You mess up or screw your clients over, and you dont get to have that chance anymore. The SEC has proven to be about as impotent a regulatory body as there can be, so I think CFAI will play a bigger role in the future. And like that Harvard MBA ethics oath, NO ONE WOULD SIGN IT!
Anyone have luck getting into a top MBA program passing a few CFA levels? Did it help in the application process at all?
CFAMetal ------------------------------------------------------- > Anyone have luck getting into a top MBA program > passing a few CFA levels? Did it help in the > application process at all? Yes, I’m curious as well.
Heard from two individuals it does. One went to Columbia and said having CFA can compensate for lower GMAT score (he only passed L1, and was speaking hypothetically). Another guy got into top international MBA in spain ESADE? I beilieve and he had 600 GMAT and had CFA, got in with no problems. My profs. at school also indicated that CFA would help to get into top school. Will you get in just cuz you have CFA no. Will it help? certaintly. You just might need to present what you got out of it (I’m not talking SML or Pension Liability). However, this all can be biased as having CFA might have correlation with other traits that help to get into top B-School. Lastly, if there are people from top MBA finding it useful to get CFA, it must be somewhat valuable if you have one going into school.
A top 25 Finance professor I know tells all his students they must get their CFA after their MBA if they want to be in this industry.
I went to HBS and am pursuing the CFA for a couple reasons. 1) Might as well finish (quote from my boss) 2) More knowledge/education never hurts. 3) You actually DO learn some valuable concepts with the CFA (despite the fact you forget them 2 minutes after the test), and complements MBA curriculum with more hardcore finance concepts (yes, Bschool is not where you go to learn finance). 4) Shows dedication to self-improvement 5) Highly respected in the investment management business - and that includes many industries be it PE, HF, mutual funds, institutional inv mgmt, wealth management, financial planning, etc.
Thanks, sunnyrollen, I just wanted to tread lightly since he asked for a specific subset. Best of luck if you go to Darden - it was a great time and I learned a lot. For all of those people who are doing the CFA (or parts) before business school, I think that is a great idea. I am sure it helps some with admissions. Also, the work in some classes will come easily to you which means: less time studying, more time recruiting, ability to take harder/more interesting classes, better participation and group work, etc.
Sorry - didn’t see the '5-8" part - just though you meant top tier…
If you get the CFA, I would think that you would increase your chances getting in to a Top MBA school. It will also help you do better in the Finance classes which should increase your chances getting a good job after MBA.
BS. If u got a top MBA, who cares if you have a CFA. u can work in the top IB or MCs with the top MBA. but u can’t go in there with however number of CFA titles. and ask around, how many investment bankers have CFA? they call it a waste of time and useless. u rather spend that insane amount of time networking in a bar.