There are few points to mention here:
1-To have the honor, yes, the honor to put the “three letters” after one’s name takes 3-4 years on average however MBA would usually take 2 years max.
2-When you sit for a CFA exam, you need to prepare for 5-7 months 3 hrs a day. (on average). However you sit for 2 exams and a final or a midterm and a final in an MBA single course.
3-You either pass or fail the CFA however you can fail the midterm and pass the final and still manage to score a B on the course and pass it.
4-If you fail a cfa exam, you would have NO clue what questions you flunked however if you flunk an exam while doing an MBA, you can still know WHY and Where you messed up.
5-Compare the number of people having MBA to those holding the CFA charter..
6-If I fail a course in the MBA program, i can definitely sit again for it next semester! you have fall/spring/summer .. but you’re definitely getting a 1 shot a year for a CFA exam.
The problem is MBA applies to all business majors even non-business majors (engineers). So when you go for an interview, you’d mention that you have an MBA and the HR manager is definitely knowledgeable about it; what about a CFA? I bet that >50% of finance related managers heard of CFA charter but what about Human Resource manager? I mean some are familiar with it if they have employees holding the charter on board..
If any manager knows the pain it takes to get done with the three exams, get the work experience approved and then the final approval to use the three letters then they would definitely appreciate the candidate more than someone holding an MBA; even if its from a top business school …
that’s my personal opinion and i would definitely prefer a candidate who passed three exams over someone who finished an MBA because i know the pain it takes to get done with it..