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mid-level mba or cfa in tomarrows market?
- Thread starter Hihatrider
- Start date
Is being AACSB accredited enough to get a valuable MBA?
I ask because my school Jacksonville State U> is AACSB accredited and i don't have much confidence in their MBA program based off of what I've heard. I know that at least one class in the program is a standard Finance Major class (Financial Management), meaning, I'd be taking the same class with the same instructor again. that doesn't seem very mid-range to me.
I don't mean to dis JSU's business school, because the undergrad stuff is great, but their MBA seems a little shady. Is that kind of class repeating common?
I ask because my school Jacksonville State U> is AACSB accredited and i don't have much confidence in their MBA program based off of what I've heard. I know that at least one class in the program is a standard Finance Major class (Financial Management), meaning, I'd be taking the same class with the same instructor again. that doesn't seem very mid-range to me.
I don't mean to dis JSU's business school, because the undergrad stuff is great, but their MBA seems a little shady. Is that kind of class repeating common?
Quote from Hihatrider:
Is being AACSB accredited enough to get a valuable MBA?
It's shows that your MBA didn't come from a degree mill and that you actually learned something in your program. So your MBA will have value.
Whether or not it has the type of value you want careerwise is another question. If you're worried about breaking into somewhere super competitive like GS, you'll need to build your resume up in other ways if your MBA is lacking in prestige. The best way to know if the MBA program will do what you want is to check who recruits MBA students on campus, and find the employment figures of grads.
Your class repeating is definitely shady, but don't sweat it, they are probably just milking you for the extra tuition, and it doesn't necessarily reflect a low quality program. My school qualified me for about a semester's worth of exemption credits. You might be able to work out something similar.
A CFA (equivalent to Masters of Finance) will make you a competitive candidate.
A MBA from a top school will make you even more competitive. It is very important because everyone in Europe and Asia is obtaining them to even get into finance.
None are required to have in trading/finance, but they are important at bigger institutions. Such a hierarchy exists at investment banks for example that these certifications make candidates seeking a promotion more competitive. At smaller firms, it has more to do with networking.
Also, the people that are saying that investment banks will no longer exist need to shut up because that is just a foolish opinion. Just because Bear Stearns, Lehman, etc. became bankrupt and that GS will do S&L's now does not mean that this service will not be required. Someone will have to do things like Mergers & Acquisitions, IPOS, etc. It's only a matter of time before new derivatives will replace garbage like those CDOs. The industry is not growing now obviously, but it will eventually develop when the credit crisis subdues. This may take several years, maybe a decade unfortunately. Economist's can't predict this, so consult a psychic for the exact date.
A MBA from a top school will make you even more competitive. It is very important because everyone in Europe and Asia is obtaining them to even get into finance.
None are required to have in trading/finance, but they are important at bigger institutions. Such a hierarchy exists at investment banks for example that these certifications make candidates seeking a promotion more competitive. At smaller firms, it has more to do with networking.
Also, the people that are saying that investment banks will no longer exist need to shut up because that is just a foolish opinion. Just because Bear Stearns, Lehman, etc. became bankrupt and that GS will do S&L's now does not mean that this service will not be required. Someone will have to do things like Mergers & Acquisitions, IPOS, etc. It's only a matter of time before new derivatives will replace garbage like those CDOs. The industry is not growing now obviously, but it will eventually develop when the credit crisis subdues. This may take several years, maybe a decade unfortunately. Economist's can't predict this, so consult a psychic for the exact date.
Quote from Hihatrider:
*I would first like to note that i have recently read through a thread posted in this section concerning this topic but I decided to make a new one given the fact that the first one took place in mid 2004. Considering recent history and my own personal situation, I would like to get some added information if anyone would like to be a help. Thank you.*
***If short on time, feel free to skip the back story by going to the paragraph marked (***).
I am an undergrad at Jacksonville State University in Alabama majoring in Finance. I understand that my school is not very well known and is inexpensive, but at the same time it also has received higher accreditation than many more expensive schools within the state.
i will be graduating after this fall semester and had up until recently been dead set on getting my MBA at a relatively near by school while employed.
i have since researched the CFA program and am know leaning toward it instead. As a career focus, I am open to many different areas of finance including portfolio management, asset management, ibanking... the point being that while my focus isn't exactly narrow, my every inclination has been that i definitely want to stay in finance.
***My question is, given my situation and the current/near future status of the financial markets, should I, upon graduation, immediately begin studying for my first cfa exam or seek out the best quality MBA program in my area?
Another reason why i created this new thread was because i wanted a more realistic answer personally. i am anticipating my graduating GPA to be in the 3.4 neighborhood. i don't believe i'll have access to a top-tier mba program (maybe not even second tier) so i tend to think that the CFA would be more beneficial.
the median (not average) salary data on CFAs are as follows:
less than five years experience w/ cfa- $119,000
5-10- 190,000
10+- 250,000
one of my teachers says he doesn't know anybody with a CFA who isn't making six figures. this is a lot of money to me.
Again, any consideration at all would be greatly appreciated.
Hi, the MBA is useless in this day and age unless you're actually planning on owning your own business.
I have used Kaplan to study for every financial credential I have, including Series 65, Life Insurance, CFA Level I that I passed last June, and am currently on Level II.
I'm getting interviews for things like Vice President of Portfolio Management, CFO interviews, and other Portfolio Management opportunities. I'm finding the market is slow, but if you commit the time to it, this will be one of the best decisions of your life in taking the CFA exams.
I'm not going to sugarcoat this. It's hard. If you have A's in Calc I and II at your school, a thorough understanding of economics in particular, I think you can do it. Micro and Macro is all they test, international is saved for Level II.
(Just as a side note: I hope you don't expect to be able to pass Level I in June right now. You won't pass it. There's too much material. But good luck in December if that's the road you go down).
FSA is my hardest subject to master. If you take some extra accounting courses, it will help, particularly managerial accounting with the FIFO LIFO bullshit.
I found the best foundation I had was in economics, corporate finance, and quant. I only say quant b/c I have a minor in mathematics, and this is probably a real asset on test day.
A thing that runs through my mind is finding a company to sponsor you. There is a work requirement to obtain your charter, and that's 4 years. Just remember, it's also going to test your understanding of ethics, and this I found to be a big surprise, since it's the deciding factor for marginal tests.
I know quite a few CFA accountants, they're miserable, but employed, so I guess it's a toss-up.
Quote from bwolinsky:
Hi, the MBA is useless in this day and age unless you're actually planning on owning your own business.
Certainly not true. Try getting a six-figure job at an investment back without a network.
MBA makes you more competitive. It's almost a requirement for certain positions. It doesn't guarantee a job anywhere, but it makes you a more appealing candidate. The financial job mkt is extremely difficult right now, so experience will come before a MBA. Still, those "experienced" candidates likely have a MBA nevertheless,
Quote from Trader KGB:
I know quite a few CFA accountants, they're miserable, but employed, so I guess it's a toss-up.
Are they miserable because they have a CFA or because they are accountants? I would to assume it has more with the fact that their job consists of crunching numbers on Excel or whatever everyday.
I doubt most CFA portfolio managers or CFA analysts hate their jobs.
Quote from Hihatrider:
*I would first like to note that i have recently read through a thread posted in this section concerning this topic but I decided to make a new one given the fact that the first one took place in mid 2004. Considering recent history and my own personal situation, I would like to get some added information if anyone would like to be a help. Thank you.*
***If short on time, feel free to skip the back story by going to the paragraph marked (***).
I am an undergrad at Jacksonville State University in Alabama majoring in Finance. I understand that my school is not very well known and is inexpensive, but at the same time it also has received higher accreditation than many more expensive schools within the state.
i will be graduating after this fall semester and had up until recently been dead set on getting my MBA at a relatively near by school while employed.
i have since researched the CFA program and am know leaning toward it instead. As a career focus, I am open to many different areas of finance including portfolio management, asset management, ibanking... the point being that while my focus isn't exactly narrow, my every inclination has been that i definitely want to stay in finance.
***My question is, given my situation and the current/near future status of the financial markets, should I, upon graduation, immediately begin studying for my first cfa exam or seek out the best quality MBA program in my area?
Another reason why i created this new thread was because i wanted a more realistic answer personally. i am anticipating my graduating GPA to be in the 3.4 neighborhood. i don't believe i'll have access to a top-tier mba program (maybe not even second tier) so i tend to think that the CFA would be more beneficial.
the median (not average) salary data on CFAs are as follows:
less than five years experience w/ cfa- $119,000
5-10- 190,000
10+- 250,000
one of my teachers says he doesn't know anybody with a CFA who isn't making six figures. this is a lot of money to me.
Again, any consideration at all would be greatly appreciated.
CFA are those the guys that all lost 50% last year?
MBA any day over CFA.
Miserable because they have a CFA and they're accountants.Quote from monty21:
Are they miserable because they have a CFA or because they are accountants?
Agreed. Unfortunately as they found out, the CFA was not a golden ticket to a portfolio management or analyst position.I doubt most CFA portfolio managers or CFA analysts hate their jobs.