CFA vs MBA

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The CFA (Chartered Financial Analyst) program is the gold standard for investing and financial analysis. You'll learn how to calculate prices for stocks, bonds, derivatives, and more. You’ll also learn financial accounting, portfolio management, economics, and ethics.

The most common career paths for CFA Charterholders include portfolio management, equity research, wealth management, financial advising, investment banking, corporate finance, and certain types of consulting.

There is a very wide range for salaries for CFA Charterholders. Portfolio Managers can make over $300,000 per year in total compensation, while Payscale.com says the median base salary for all Charterholders is about $92,000. Early career Charterholders will likely make less than this, so don't be afraid to advocate for yourself for a raise or a promotion, or to look at jobs at other companies to increase your salary.

The CFA Program can cost about $5,000 to complete, depending on how often you have to retake the tests and what study materials you use. Also the Institute requires annual dues after getting the charter of about $300.

The CFA Program is extremely difficult and time consuming, averaging 300 hours of study time per level, with roughly a 50% pass rate per level.

The CFA program does lack resources for actually helping people find jobs. Your best bet will be to go to networking events hosted by your local CFA Society.

The CFA is an impressive credential that proves you understand finance and investing, and that you have the grit and determination to complete a rigorous self-study program.

MBA:

An MBA (Masters in Business Administration) provides a broad business education. The top 10 or top 20 programs will have the best brand recognition, strongest alumni networks, and resources to hire the best professors and career services employees. The MBA is a great way to change careers or break into a new industry.

The most common careers coming out of a top program include management consulting, investment banking, corporate roles in finance, marketing, and general management, as well as asset management, private equity, and joining a start up, or starting your own company.

The average salary coming out of a top MBA program is roughly $140,000 - $150,000. Consulting and Investment banking will generally pay more than this, while corporate roles will pay less.

Costs: Tuition at top schools cost upwards of $150,000 as of 2021, plus you are giving up 2 years of income if you go full time.

Classes at top MBA programs are very interesting and useful, but in my opinion are not nearly as difficult as the CFA Program. The hardest parts are getting accepted to the top schools in the first place, and landing that job or internship. Prepare to do a lot of networking and interview preparation, which includes case interviews and stock pitches depending on your chosen career path.

Many people do choose to do both, especially if they work in investments.

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- TIMESTAMPS -
0:00 Intro
0:18 CFA Program
0:34 CFA Careers
1:02 CFA Salary
2:00 CFA Cost
2:25 CFA Difficulty
2:57 CFA Job Search
3:31 MBA Programs
4:10 MBA Careers
4:26 MBA Salaries
5:21 MBA Cost
5:43 MBA Class Difficulty
6:29 MBA Acceptance Rates
6:50 MBA Job Search
7:30 Do Both!

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