Continue CFA L2/L3 during MBA? interested, experience, networking

dcfox83

I just passed L1 and am about to start MBA program at a top 5 program. I am an older (33 and married with kid) career changer with no finance degree or experience. I am most interested in HF, BS, etc but open to all opportunities.

My question is: Should I continue to study and take Level 2/3 during school, or focus on MBA studies and networking?

Pros to continuing CFA during MBA: Boost my thin business cred, I'm motivated after passing L1, I'll have more time during MBA than while working afterwards, I'm older and switching careers so need more of a boost than most MBAs, CFA will help with HF and buy-side analyst positions I'm most interested in, if I put CFA off until after school I'm worried I may never get back to it. It would be awesome to graduate with both CFA and top MBA.

Cons to continuing CFA during MBA: MBA course load may be significant especially for non-biz type, studying CFA may cause me to miss important networking opportunities, not certain I'll end up in a field where CFA is valued (may enter consulting, etc), worried I won't be able to give Level 2/3 the time I gave Level I (and thus risk failing).

I welcome any and all advice, obviously I am new to the world of business.

ASSet_MANagemen

I'm potentially in the same boat so will be curious what others will say.

My gut tells me that you should just focus on the MBA program and getting the job. Your time will be better spent there. I don't think you are doing yourself a favor otherwise.

I wouldn't be afraid to resit an exam, especially if it is level 3. But if you have to learn a whole new curriculum, not sure if it is worth it.

Iginla2010

I wouldn't bother.

If you are entering a top 5 b-school, why compromise the cost, effort and opportunities for 2 more years of CFA.

MBAs are more useful for career changers so focus your attention on that. No point going halve-sies and risking CFA fail or networking opportunities AND spending less time with the family.

Remember, to use the designation you need 4 yrs of relevant experience. You won't get this by the time u finish ur MBA anyway. You have level 1 already... add that to ur fancy pants MBA and you got yourself a nice package

So save yourself the 300+ hrs/yr, and spend it on ur family + mba. With this path you'll have no regrets.

But don't take my word... ask the wife!

luckygiftvn

I wouldn't do any CFA levels during B-school; avail yourself of the other opportunities such a program provides. Studying will be too big a distraction during the spring when you are getting ready for your internship (1st year) or your actual new career (2nd year).

wake2000

I wouldn't recommend studying for the CFA at the same time you are taking MBA classes; the MBA is too expensive to distract yourself with other things.

HOWEVER, depending on which B-school you attend, you may find that classes wrap up for the year well before the June 2nd exam date. (Some MBA programs are done for the summer before May 1st.)

If this is the case, you may find yourself in a pretty ideal situation: you can have ~5 weeks with nothing to do but cram for the CFA exam. A candidate without a lot of other obligations can jam 200+ hours of studying into this period.

dirk01

Hey, I remember you Thaler; you're our F-22 pilot.

Where are you going to school... Chicago... Columbia... MIT... ?

ryanlb

MBA with top 5 B-school > CFA

That simple.

Focus on the MBA. Network, and get as much knowledge as you can.



BTW - what school are you attending? GMAT Scores?

Im currently on Lv3 of CFA, really debating on trying to get into a top 5 school. Please share your process and experience. Thanks

Chuckrox8

Nah, don't do CFA. Just take finance classes there and enjoy life instead.

Viceroy

Thanks all for the feedback. I understand the advice to focus on MBA, but it's tough to give up working toward the CFA after I spent so much time and effort studying for L1. I've got some time to decide- I think my first 1-2 months at school will help me understand the different career paths that are available and how challenging the time management is. 250 CFA hours could be do-able during the 5 off weeks between quarters and shortened MBA weeks.

My path is very different from most: engineering undergrad, spent the past 10 years flying fighters in the Air Force. Had an opportunity to get out and took it, even though it meant applying in the dreaded 3rd round at B-schools and tough analyst job prospects. Interviewed at HBS (no) and Wharton (waitlist). Thankfully, I was extremely lucky to be accepted to my first choice- Stanford, starting there in a few weeks.

My advice for applicants: Set yourself apart in your activities and essays, they want unique candidates. Even though I didn't use one, I recommend spending a few dollars having one of the many MBA consultants out there review your essays/app/interviews. It would have helped me. Most importantly (and this is an easy one), apply in the first round! I'm not a great essay writer or well connected, I probably got in based on my unique background and a good (780) gmat.

maratikus

Wow, congrats Thaler !

I'm amazed that any school -- even Harvard -- would reject a F-22 pilot with 780 GMAT.
It can only be because you applied so late into the season and of all their spots were already full.

In any case, have a great time at Stanford & keep us updated.



Edited 1 time(s). Last edit at Monday, August 22, 2011 at 11:01PM by Wendy.