MBA or Level 3?

Hey equity_research_nds,
If you are trying for schools in India, the GMAT is valid only for ISB, otherwise its the CAT.
So essentially you are asking whether you should start studding for the CAT? The exam is in November if I am not wrong and is held once a year.
Go ahead and study for your CFA L3. After which begin your preparations for the CAT.
If after 4 months you cannot crack the cat, 8 months would not be of greater help as it is more of an aptitude test than something you can prepare for.
A lot of the premier BB firms do prefer candidates who are enrolled in the CFA program and it would help you in placements (summers and final).
And yes from your age I presume you would have given the CAT a couple of tries already, so you would be a best judge of clearing it this time.
Greater experience is positive and would enable you to clear the interviews. So concentrate on the CFA L3 and then plan on the CAT.
 
arakhanna….I havent taken CAT even once…..but then realised i shuld take it this time…maybe…
 
Even if you have your charter…what do you have to offer the person hiring you if you have 2 years of work experience. An MBA will not allow you to get further work experience. And India is a big diploma mill, so I would advise you to take your CFA knowledge and apply it and create opportunities to excel. What would buying an MBA give you? You would still be viewed as naive/green and probably not a good fit.
I hate to say this, but I will. And I will say this because of first hand experience from hiring candidates. And hopefully I can help you and anybody else looking for a job.
A CFA is great. Hey, I’m busting my fat __ to get one, not because I need one, but I want one, and let’s be honest, it is the gold standard. I have passed that stage of needing qualifications to open doors, but we know the CFA gets more than your foot in the door when necessary. So the CFA in my rubbish opinion is the best benchmark and highest common denominator by which to measure candidates. I never hired a charterholder who was incompetent, maybe hired a bunch who were jerks, but all are/were smart.
MBA’s on the other hand, most were from top tier schools. Knowledge of finance came from prior work experience. They were experts at delegating work and making things look nice. Lots of polish. Some were bright, some were the undergrad jocks who got good b-bracket jobs and then went to good b-schools but didnt’ learn anything there…good candidates on paper. But not bad people.
The overqualified people from India that I interviewed would try very hard to impress me all their degrees and what they know. Work experience was definitely a problem. Hey, I want to hire talented, people with all the tools to get the job done, but what I learned that most people with multiple degrees in India, were very rigid in their thinking. Problem solving within boundaries was excellent, but when creativity and imagination was required, they were totally helpless. I discussed this with them during reviews and the explanation I got was that they were taught not to be creative. They had to think within the curriculum. They were penalized for thinking outside the box.
Here in NYC, if you are looking for a job in fiance, you need to have the basic tools and you must be viewed as someone who can thinking on his/her feet. Someone who can thrive under pressure and not get bogged down by convention. Work experience…street cred is a must. Get it.
If you are having a problem getting the job you want, think about updating some of your other skills. Are you a good speaker? Can you present to the board of directors? Can you be interviewed on TV and not say “you know, like, and ya” a hundred times? Do you wear white socks with your suit? MBA school is almost like finishing school. I doubt you have any deficiencies when it comes to mathematical/quantitative/accounting skills…but perhaps you can save yourself $150K fees and $300-$600k opportunity cost (hey if you’re earning more than a buck and go to B school you’re a moron).
B-School now is increasingly used just for networking. There are some that churn out good thoughtful candidates like Tuck, but the rest seem to give us some generic vanilla eager beavers. I’d rather hire a hungry CFA from Staten Island than a prep school, Ivy League MBA.
And that’s my two bits.
 
Thanks a ton!!!! 88fiveo…. would continue to concentrate on my L3 test this year….. it was an extremely useful post providing some great insights….
Everyone thanks a ton for taking out time and responding..
 
MBA looks good on paper and has many applications, but if you are talking quanitative finance, go with what Joe says. You need a strong math background (as in a whole slew of university level training) as well as computer programming, usually C++ (which in and of itself will take time to master) and a solid finance background. The CFA can definitely help with the latter, but an MBA would be of limited applications with a heavy quant guy (IMO), so I would bid my time.
 
Hey 88Fiveo, great post may I ask what is your background and job experience? Thanks
 
Kinda hard to get a student loan now anyway.. so unless you can pay for this on your own.. just go for the cheaper alternative.. L3
 
Except for 88’s post, I’ve never seen so many false statements strung together. Kinda hard to get a student loan? 25 years old too young? MBA not useful? WTF?!?!
Anyone interested in the CFA and or/MBA, read 88’s post and also check out gmatclub.
http://gmatclub.com/forum/103
It’s a very friendly online forum.
RG
 
ManVsCFA…
My background…same as yours and everybody else here.
Passed Level 1.
Passed Level 2.
Studying for Level 3. Must past Level 3.
The rest is irrelevant.
I’m no Bleron.
 
ryguy904 Wrote:
——————————————————-
> Except for 88’s post, I’ve never seen so many
> false statements strung together. Kinda hard to
> get a student loan? 25 years old too young? MBA
> not useful? WTF?!?!
>
> Anyone interested in the CFA and or/MBA, read 88’s
> post and also check out gmatclub.
> http://gmatclub.com/forum/103
>
> It’s a very friendly online forum.
>
> RG
25 means just a few years of experience. That’s not enough for an elite American MBA. Some people enter the big programs at 25, but they will have something ridiculous on their app (780 GMAT, successful entrepreneur).
Generally, 25 IS too young for a an elite (American) program.
 
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