In our previous blog post, we compared CFA and MBA degrees over various aspects to help you choose between CFA and MBA.
However, there are many people who end up obtaining both a CFA charter and an MBA.
If you’re hell-bent on making your CV the best damn piece of paper the world has ever seen, by all means take both – it’s in no way a either-or situation. In the end, it’s all about your personal goals and situation. If you’re looking for a qualification to enhance your career in finance or establish your finance credentials, the CFA is the way to go. CFA majorly focuses on research. If you’re looking for a qualification that might help you boost your career outside of finance, or looking to move across industries, an MBA might be a better bet. MBA develops your soft skills in a way that you become much more innovative and adaptive. It makes you a better spokesperson and thus makes it easier to be in the front office of any investment job.
If any student wants to pursue both, CFA and an MBA from a good B school then the timeline that should be followed will look somewhat like this:
2nd Last Year of Graduation - Start your CFA L1 tuitions
Last Year of Graduation - Register and appear for your CFA L1 exams and start your tuitions for L2.
Year 1 Post your Graduation - appear for CFA L2 exams and then start a job.
Year 2 Post your Graduation - Along with your job, prepare for CFA L3 and MBA entrance exams. Appear for L3 a year after your graduation in June and in November appear for CAT.
First Year of MBA - As per your CAT results, you would get admissions into any B school 2 years after your graduation. In that duration you have completed your CFA as well as gathered 2 years of work experience.
To sum it up, in a span of 4 years post your graduation, you would be an MBA, a CFA and would also have 2 years of work experience.
The main problem that CFA students have to counter is the lack of practical application based knowledge. If they are able to counter that, their value in the market increases massively. Students can gain such knowledge by doing various practical skill based courses privately or join classes that provide such a training. Visit CFA Elite Edge for details about such training based classes.