Carlos Castillo ⋅ Fort Drum, NY U.S. Army, Private First Class ⋅ 6 years served

I am currently in pursuit of my CFA level 1 exam. I have worked in investment management (IM)and have seen the benefits in having this charter. Where I worked, 80% of the investment advisors had their CFA designation among CAIA, and others. Positions with CFAs included: portfolio managers, investment advisors, analysts, and investment department heads. Although IM and asset management (AM) are very competitive fields, I believe one must decide whether it will benefit them in the long run, and how it will shape their possibilities.

The most important aspect of this charter I believe comes from the networking events and ability to be part of this community. Unfortunately for us finance professionals, getting a bachelors/or masters degree isn't enough to prove the world we are well suited for the investment world. It seems to me that qualifications like the CFA uphold larger values than earning any degree.

C R ⋅ Los Angeles, CA ⋅ 20 years experience

I did both an MBA and the CFA. I work in investment management. Before entering the industry, I was former military and had no business experience.

CFA is useful is you are sure you want to do work in investment analysis. It is a quite focused program that you study on your own time. You also must have 3-4 years of relevant industry experience to be awarded the CFA designation -- in addition to passing the three levels of exams. I think if you already have an administrative or back office job in an investment firm and want to move into an investment analysis role, then the CFA is a good option.

Graduate school -- MBA or otherwise -- is a much broader proposition -- teaching accounting, finance, marketing, economics, etc. depending on the program. If you are transitioning from the military with little business experience and are not sure yet what you want to do in business, then an broad MBA program is a good way to learn about different career fields within business. You will learn a lot from your classmates, who will arrive with a broad range of business experience. You will have a shot at a summer internship to try out a new field. And you will have the universities placement office and alumni network to help you find a position after graduation.

jeff bronchick ⋅ Hermosa Beach, CA Cove Street Capital ⋅ 30 years experience

A CFA is a terrific plan IF you are exclusively focused on the investment management industry. An MBA is a much broader course of study. Yes you do "learn" a lot, but what it really shows to an employer is "this person wants to be in the investment industry, and they are willing to make a huge commitment."

Wayne Janisch ⋅ Redwood City, CA U.S. Army, Captain ⋅ 6 years served

I worked for 3 international investment banks in the 1980s & 1990s. The CFA is a very respected credential in the investment banking, research, analysis & financial instrument trading worlds. If you are pursuing a career in finance and understand hard study, go for it.

Aaron Spool ⋅ West Orange, NJ CIT ⋅ 11 years experience

Keir,

Feel free to drop me a line as well. I have an MBA, but no CFA at this time. I have thought of sitting for it, but it is not necessary for my particular career path. At a high level, a CFA is an impressive accomplishment and a barrier to entry for certain finance jobs. However, an MBA provides you with an alumni network, which for me has been invaluable. It really all depends on your career goals. Drop me a line and I'll happily advise where I can.

Seth Mitchell ⋅

Keir:

Greetings. I'm an ACP mentor and have both an MBA and the CFA Charter. In order to answer this, I need more info regarding your career goals.

Obtaining the CFA charter is both arduous and time-intensive: it's a three year process during which you need to pass three exams. It's a feather in anyone's cap - but it's particularly relevant to those in the investing / research / PWM / trading / capital committing sectors, among others.

Kim Gamero ⋅ Boise, ID AECOM ⋅ 8 years experience

Keir,

While I am not a a CFA, I think you may want to consider both avenues. The CFA exam gives you the recognition within the industry. If you add a grad degree to that, you broaden your opportunities. You may be able to get a foot in the door with a grad degree that ultimately leads to the position you are looking for with the certification.