CFA Academic Equivalent

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PalacioHill

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Just curious what the consensus is of the approximate equivalent is of the CFA charter in terms of rigor, prestige and credibility. Everyone know that the top 5 MBA can’t be beaten regarding networking & recruiting opportunities etc; however, I am curious purely on the basis of rigor or curriculum, prestige, and confidence among employers in the asset management field. I would wager to say that while the CFA charter may not have the same level of recruiting and networking power, it does carry a weight that even a top five or ten MBA may not have in terms of knowledge of the field of finance.
 
I can’t think of anything obvious, particularly when you factor in that the charter itself is only obtained with the related work experience. In terms of the exams, I guess the content could best be compared to masters degrees in finance. In that respect, I think the CFA curriculum stands up pretty well and perhaps covers a bit more than in your typical masters. The quality is difficult to compare since the rigour of any masters degree depends entirely on the institution attended.
 
So I guess what I am asking is, would you say that the CFA is equivalent to an MBA/MSF from a top 5, 10, 15, 20, 50, 100 school in terms of academic rigor and credibility among employers in the investment management field?
 
^ Depends on who is doing the hiring. A charterholder will hold it in higher regard than a non charterholder.
 
PalacioHill wrote:
So I guess what I am asking is, would you say that the CFA is equivalent to an MBA/MSF from a top 5, 10, 15, 20, 50, 100 school in terms of academic rigor and credibility among employers in the investment management field?
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At the core, CFA exams are not rocket science. I know several examples of guys who passed all 3 levels in one go and had stellar grades in school, but I have seen them perform at a job and it really sucks - would never hire them.
What passing the tests does for me, is tell me you are dedicated, and willing to grind it out. This is actually super important in my view, most notably for new hires.
The CFA will never rank with the top 5 MBA (and rightly so), and it also depends on what the person was doing while they were taking the tests. in the extreme case, If unemployed -> passed CFA exams -> not impressive.
If I had to peg a candidate with CFA +ok work experience against a new MBA grad, I’d rather go for the CFA canddiate vs. an MBA program ranking below 20’s or higher. the MBA rankings get sh**ty pretty fast
 
In holiday conversations at parties with young finance grads from college, their plans are to go to work in the financial sector and get the Charter. No talk of MBA. A few years back, the Charter wasn’t even on the radar and an option worth considering – quite a sea change, and being driven by a different demand set in the financial world which wants increasing specializtion versus the breadth of the MBA.
 
itera wrote:
The CFA will never rank with the top 5 MBA (and rightly so), and it also depends on what the person was doing while they were taking the tests. in the extreme case, If unemployed -> passed CFA exams -> not impressive.
If I had to peg a candidate with CFA +ok work experience against a new MBA grad, I’d rather go for the CFA canddiate vs. an MBA program ranking below 20’s or higher. the MBA rankings get sh**ty pretty fast
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Most non-hacksaw MBA programs are full-time, which in my opinion is similar to someone taking off work to pass the CFA exams. I’ve never understood why going to a full-time MBA program ever makes sense, outside of the top 5 programs. Even in the top 5 programs, taking off work to go to a full-time MBA program I would wager barely scratches a positive NPV.
 
PalacioHill wrote:
itera wrote:
The CFA will never rank with the top 5 MBA (and rightly so), and it also depends on what the person was doing while they were taking the tests. in the extreme case, If unemployed -> passed CFA exams -> not impressive.
If I had to peg a candidate with CFA +ok work experience against a new MBA grad, I’d rather go for the CFA canddiate vs. an MBA program ranking below 20’s or higher. the MBA rankings get sh**ty pretty fast
Click to expand...
Most non-hacksaw MBA programs are full-time, which in my opinion is similar to someone taking off work to pass the CFA exams. I’ve never understood why going to a full-time MBA program ever makes sense, outside of the top 5 programs. Even in the top 5 programs, taking off work to go to a full-time MBA program I would wager barely scratches a positive NPV.
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As I’ve been saying all the time.. the real value of MBA = on campus recruiting + strength of network.
as PT, you don’t get the first, and build little of the second since you are rarely on campus
 
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