Last month, Business Insider took a deep dive into how to decide whether you should get your CFA or MBA — now we’re getting more personal.
We found that both accreditations have their purposes. For example, the CFA charter is better if you want to be an analyst, and the MBA is better if you want a more diverse skill set.
But this is a hotly debated topic, one that get people frothing at the mouth and rolling their eyes.
So there’s a lot more to be broken down here.
We reached out to sources that hold either CFA charters or MBA degrees to find out what makes one better than the other. This time around we’re featuring the MBA, but don’t worry the CFA will get its day.
According to our sources, Business School is where you to meet people -- your classmates, faculty, speakers, recruiters. They all come to you.
The CFA Institute is trying to get better, but it just doesn't have the close knit alumni community that Business Schools around the country have been fostering for decades. If you think you'll need that, the MBA is a better option.
Yes, you'll likely concentrate in a certain skill set, but with the variety of business classes at your disposal, the MBA is better for working in different kinds of jobs from business journalism to the C-suite.
Yes, a lot of people do business school part time along with a job, and that's tough, but CFA candidates always do it.
To them, full-time business school students probably look like they're having the time of their lives.
More people simply know what an MBA is than the CFA. And one CFA charterholder told us it really hasn't helped him get a job that much.
'You kind of get it, and then you tell your mum,' he said.
At Business School you have faculty to guide you. You can find a mentor.
For the CFA, you're on your own.
The CFA is meant for one thing -- analysts.
But as you work toward your MBA, you can try new things in class that you find interesting. It could open some doors.
If you want to be an entrepreneur this is where you need to be. The CFA teaches you nothing about that.
All told, the CFA takes 300 hours of studying (6 months or so), and that considered, usually about 2.5 years or so to finish. If you really rush it, you can maybe.... mayyybbbbeeee make it in two.
The first level test is offered in December and June, the other two are only offered in June.
On top of that, only around 20% of CFA test takers get through the process without failing one test and having to take it again.
Getting your MBA can take two years or less straight through.
Any industry you weren't in before.
Getting your MBA gives you a clean slate. Recruiters know you come out with a brand new skill set and they're willing to take a chance on people coming out with the degree, especially if they come from a great program.
At Business School you might actually make friends, go to some cool parties and get involved in the tradition of your school.
The CFA is solitary.