CFA vs MBA- which course is best to pursue?
We cannot compare a CFA charter and an MBA as they are from different disciplines but on the other hand, we need to evaluate both the qualifications from a career perspective and the cost involved in these courses.
CFA charter is well-known for finance as MBA is known outside finance.You should choose the CFA charter if you want to pursue a profession in asset management, private wealth management, equities research, or rating advisory services.
Superior financial analytical abilities are not as glamorous as an MBA (say, tech, advertising, or manufacturing)
While preparing for CFA, candidates can manage both their full-time work and the preparation as it is a distance-learning program.
On the other hand, MBA is a two-year full-time program that can affect your full-time work. The candidate can do internships at the time of summer breaks.
The candidates preparing for the Online CFA program should have work experience for at least three-four years. The average time a candidate takes to complete all three levels of the CFA is four years which is two years more than a candidate completes MBA.
Both the programs are growth-oriented and the salary depends on the qualification, work experience, and specialization the person has.
The average salary of a charter holder can range from $8,500-$52,500. The salary of an MBA candidate range from $8500 to $65600.
Analyzing which qualification would be most valuable for your job aspirations should be a key consideration.
The cost of the CFA exam depends on the number of exam attempts and money spent on prep materials.
The CFA exam costs around $2,600-$8,000 if you clear every level in one go and on the other hand the cost can increase up to $15000 if you fail several times.
MBA costs around $150,000 for two years.
The CFA program is more cost-efficient as compared to MBA.
CFA vs MBA salary: Which is higher?
Both the programs are growth-oriented and the salary depends on the qualification, work experience, and specialization the person has. The average salary of a charter holder ranges from $8500 to $52500.
The salary of an MBA candidate ranges from $8500 to $65600.
Which qualification would be more valuable in advancing your career ambitions should be analysed as a key factor.
The scope for both programs is very high. In CFA Online Training as soon as you start clearing the levels, the better the job you can get.
Job profiles offered after CFA
- Equity Research Analyst
- financial Analyst
- Credit Analyst
- Senior Financial Analyst
- Equity Research Analyst
- Corporate Financial Analyst
- Accountant or Auditor
- Credit Analyst
Job profiles offered after MBA
- Accounting Manager
- cash Manager
- Credit Manager & Specialists
- Corporate Controllers
- Finance Officers and Treasures
- Insurance and Risk Managers
The CFA students need to clear three levels.
LEVEL 1- There are a total of 240 multiple-choice questions and the passing rate is 43%.
LEVEL 2- There are a total of 10-15 vignettes along with 120 multiple-choice questions. The passing rate is 45%.
LEVEL 3- There are a total of 8-14 vignettes along with 60 multiple-choice questions. The passing rate is 56%.
The MBA candidates need to clear entrance exams conducted for admission to top MBA colleges.
CFA applicants must study for more than 300 hours, and the difficulty level increases as they progress through the levels. In MBA the level of difficulty is low.
Both programs offer benefits that can help in the advancement of your career. The CFA program is for those who want to build a career in investment banking. The course provides deep knowledge about investment analysis and portfolio management.
The MBA program offers a broad business curriculum.
The CFA program connects candidates to a global professional network of professionals. MBA candidates also have a good connection with industry professionals.
Both programs have their benefits, so the candidate needs to decide which program they want to pursue according to their interests.
To make the correct decision, the candidate needs to have clarity about both programs, which program will suit the needs and would be more rewarding for the investment
Because the online CFA classes are a distance-learning program, candidates can work full-time and study at the same time.
MBA is a two-year full-time degree that can overlap with your full-time job.