Importance of MBA program when paired with CFA?

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richardbchilds

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Currently shopping around for MBA programs. I am located in Charlotte, NC, leaving my choices between UNC Charlotte, Wake Forest (satellite location), and Queens University. I am unable to relocate at the time.
I have pretty much ruled out Queens as it is not well known and is expensive, as it is private. Now I am choosing between paying a hefty fee for Wake Forest, or going cheaply at UNC-C.
My question is; is a top notch MBA program important when you also hold a CFA charter? I am not exactly sure what field I’d like to go into (new to industry), so I can’t tell exactly what field I am looking into. Between my uncertainty, and the fact it looks like I will be moving into a lower level back office management position soon, I really just want to keep all my options open, hence both the MBA and CFA. I will be looking to start a family soon and would like my wife to stay at home… so cost is a HUGE issue for me. At the same time, I don’t want to ‘waste’ my time and/or money if a ‘lesser’ program (UNC-C) is not worth it.
Wake Forest
Cost: ~$70k for program
Rank: 32 in part time
UNC Charlotte
Cost: ~$25k
Rank: 66 in part time
http://www.businessweek.com/bschools/rankings/
Thanks for any help.
Richard
 
I think US News rankings are better/more accurate so Wake Forest is ranked 47 there. I didn’t look up UNC.
To be honest, you should save yourself the money on either program.
“My question is; is a top notch MBA program important when you also hold a CFA charter?”
Absolutely a top notch program is important regardless of CFA.
 
Before blowing bucks on all this, figure out what you want to do…
Wanting her to stay at home may pressure you to jump for more money more removed from capital markets (personal experience speaking) - I did at PT MS Finance and CFA (L3 this June)… I might hold tight on MBA until you know more about what you want to do and work on CFA exams/networking now. Hopefully you can get an employer to pay for it.
 
topher Wrote:
——————————————————-
> I think US News rankings are better/more accurate
> so Wake Forest is ranked 47 there. I didn’t look
> up UNC.
>
> To be honest, you should save yourself the money
> on either program.
>
> “My question is; is a top notch MBA program
> important when you also hold a CFA charter?”
>
> Absolutely a top notch program is important
> regardless of CFA.
Agreed - but it depends on what he’s trying to do and his positioning currently. Where I’m at, CFA>PT MBA for entry-level position, and then MBA to try and advance further once in - FT MBA>CFA if done right/right program, but it doesn’t sound like that’s an option.
 
It is all not worth it unless you finish both CFA and MBA before the age of 30.
 
Thanks for the opinions.
At times I think I am rushing into things, but I am scared of getting caught with my pants down. I also would like to get as much out of the way as I can now, so I am able to spend as much time as possible with my family when the time comes. I also hate not taking advantage of tuition reimbursement…
Tough spot for me as I’ve always wanted to head to more of a front office position, but my career seems to be taking off at the back office side. Don’t want to abandon either, but also don’t want to hold off on anything and possibly miss my chance.
Full time is definitely out of the question. Has to be part time unfortunately.
I guess my question was more… (since we all love equations);
Is CFA+MBAweak = MBAstrong
I have considered abondoning the CFA all together and just focusing on a Wake Forest MBA, but I don’t really think its worth it as is ranked 32 at best (47 by the other one).
I am also considering focusing on the CFA and putting off the MBA for a couple years and heading to Chicago where there is more market jobs, and better schools in Chicago, Northwestern, and Loyola. This would essentially negate the progress with this company, though, as they do not have a strong presense in Chicago.
Thanks again for any suggestions. New to this industry and don’t know many in the field so I am sort of paddling upstream and paving my own path.
 
Just turned 26, so I got about 4 years if I meet your suggestions. Taking Level 1 in June, and am meeting with Wake Forest and UNCC counselors next week.
pawn Wrote:
——————————————————-
> It is all not worth it unless you finish both CFA
> and MBA before the age of 30.
 
The non top 10 MBA program is probably not worth it, part time definitely not, and satellite does not even exist at top 10 programs.
Focus on staying positive in your current job and finishing the CFA by June 2013. After Level 2, take 3 or 4 months to prepare for business school applications/GMAT for full time programs. Apply before December 2012, and while you are studying for level 3, you will hear back from admissions around March. Networking effectively at a non top 10 mba program is cutthroat and will require all your energy (that’s why you need to finish CFA before matriculating), but it is your one and only ticket to sneaking into a front office career track.
 
Just talk to the counselors and other people in the industry in person. Also try to message people who went to those schools (MBA) on LinkedIn and meet with them. Most, I say most people on this forum don’t have top MBA and really say things they just heard and read. Good luck!!!
 
richardbchilds Wrote:
——————————————————-
> Is CFA+MBAweak = MBAstrong
Unfortunately, no. They’re somewhat unrelated. A top MBA is for pedigree and making people feel warm and fuzzy - that is important, especially when dealing with clients $$. A CFA is to convey a certain level of comfort with finance.
At my work it doesn’t matter if you have a Harvard MBA, you are strongly encouraged to get your CFA. However, having your CFA alone won’t let you in the door.
We have on guy with an MBA from UNC and I believe another is joining us in the fall. The alumni network is strong with that school. It may not be top-10, but you can spin it into a front office position if you’re strong enough in other areas.
 
pawn Wrote:
——————————————————-
> UNC Charlotte is not UNC Chapel Hill
oops, my fault
 
So your firm recruits UNC - KFBS alumni? If you don’t mind, for what position? Where is the firm located? I am interested because I have been accepted at UNC - KF (in Chapel Hill) and I am evaluating the offer. You can also write me here [email protected] Thanks
 
UNC is not one of the target schools. However, we do have one guy that is from there and I have a feeling he’s the reason why we’ll be having another join us. I will email you later tonight with more details.
 
richardbchilds Wrote:
——————————————————-
> Is CFA+MBAweak = MBAstrong ?
No. In fact, some might argue that:
CFA + MBAweak < CFA
If you some day manage to pass the CFA exams and get your charter, additionally having an MBA from Wake Forest or UNC Charlotte is not going to improve your resume in most people’s eyes.
The deal with an MBA is that if you attend an MBA program ranked, say, 50th in the U.S., people will assume that it’s because you couldn’t get in to any of the MBA programs ranked 1 through 49. If those two schools are the choices, you would likely be better off with no MBA at all.
If I were you, I would forget about the MBA for now, and focus on passing L1, L2, and L3 over the next 3-4 years.
 
Thanks guys for all the opinions. From the various article and opinions I’ve read, they mostly do agree. I just wanted to hear it straight from others. I hate not jumping on the opportunity to get tuition reimbursement, which is a major reason I was considering an MBA.
Wendy - I was thinking the exact same thing as you wrote of. Just wanted someone else to say it without being provoked.
I think my plan of action is exactly what pawn detailed. Focus on my current job and CFA, and when time comes began working into an solid MBA program that is worth the money and time. Teach myself the industry with the CFA and my current job, and decide if I really want/need an MBA when I am further along in my career.
Thanks again!
 
Oh… another thing I have to admit I was considering.
Trading is a field I’d like to considering going into. I was looking at the tuition reimbursement as a chance to get some money in my account to attempt to get a trading portfolio going.
 
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