Is CFA better than MBA for finance careers?
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- Опубликовано: 4 июл 2024
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In this video I talk about the main differences between the CFA (chartered financial analyst) and doing an MBA (Master of Business Administration). They’re extremely popular qualifications that companies in the world of finance, banking, asset management and risk management as well as many other industries take notice of. They can help you get ahead and break into roles which you otherwise might find breaking into quite difficult. But what are the questions you should be asking yourself when it comes to deciding which qualification to pursue? This is exactly what we discuss in this video. Areas covered include financial costs, time commitments, salaries, and more. Thanks for passing by and enjoy the video!
TIMESTAMPS:
00:00 - Intro
00:52 - Career expectations
02:11 - Current circumstances
03:25 - Time commitment
05:00 - Useful resource (Analyst Prep)
06:36 - Financial costs
08:09 - Salaries
09:54 - Pros and cons
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Hey! I'm Afzal Hussein. I make videos on banking and finance, careers, productivity and lifestyle. I'm also building Simpley (a marketplace for career advice), and I teach on Skillshare. Before all of this I started my career working at an investment bank called Goldman Sachs. Hit the various links above to find out more about me. Thanks for passing by!
#CFA #MBA #FRM
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An important point about actually being able to use the "CFA" after your name is that your work experience has to meet the CFA Institute's standards. The CFAI defines it as work experience that is directly related to the investment decision making process. You may have 5 years of work experience but if it doesn't qualify, you still can't use the CFA designation.
can you be a real estate investment professional ? Like you work for a REPE firm ?
Thanks for the helpful video! I'm in my penultimate year of uni and this helped me find out more about each path 👍
U know you have got good content and view points but sometimes I listen to your videos because I really like your voice ❤️
Apart from the content I think there is something with how you direct your videos
The music, the background etc looks very positive and hopeful.
Love your videos bro
Hey Afzal! Hope you are well. First thanks for the great and useful videos, they give a lot of insight and personally learn a lot from them. Could you please do a MFin reviews (LBS, HEC,...) Thanks!
Excellent comparison, thank you!
👍🏽
Really clear!
Thanks!
Clear as a bell. Thanks
Im in the CFA program and thinking about an MBA within a few years (Im 23y). Very useful video! Thank you!
23 years old! wow thats amazing. I am 27, not yet starting
@@imicca god damn im 21 and im starting hahahahah
I am 24. Should I start? :/
@@sounaksaha2668 I completed my CFA at 21 and FRM at 22. Now I will be writing CAT, GMAT and be selected in IIMs because of my superior academics.
@@sounaksaha2668 yes
Currently doing CA(SA) [Accounting/Audit] and CFA. MBA isn't as spoken about in South Africa but great to see the comparisons 🙏
It's not hey, it's appears to have become outdated here
Thank Q for the vedio 😊very clear and useful 😍
Much needed
Hey Afzal, there is not a lot out there about a career in financial regulation. Hope you can make a video explaining the pathways into this. Disclaimer i am a 2nd year economics student. Love all the videos they are so useful
Great video! Honestly one of my favorites from you
Would you suggest an MBA for someone looking to get into Private Equity with a BA Business degree and 5 years of working experience in a Business Development role?
Thanks for this informative video. Great practical points. Can you also make one highlighting the pros and cons of Masters in Financial Engg and Masters in Finance degrees please?
Yes very much needed, it will clear my doubt
early noti gang once again
💪🏽💪🏽
You can do an MBA part time or even online and they’re accredited. In the UK most MBAs are 1 year full time and 2 years part time and if part time/online you can still keep working at your job. Plus MBA grads are known to get higher salaries after completing it, and in the UK I don’t know of any that are 100,000 dollars equivalent costs. The top British universities charge like £70,000 but you can still get an MBA at reputable ones for £20,000 or some for even the undergraduate costs of £9,000
Hlo Afzal I'm 18 years and getting myself ready for CFA and I was lil confused about MBA too, but now your vedio clears me alot thanks alot buddy
Great video
Both are great!
Could you do a video where you look at European business schools rankings and you give your opinion on each one?
Can you please post a video about financial modelling skill and it's scope?
I disagree with the need to leave work to do an MBA. It is wrong to say the MBA is full time option only. I am doing an MBA part-time. And due to COVID most MBA Programs have now moved online. So let’s drop this full time MBA pretense..Stop stigmatizing the part time or hybrid programs
Expensive MBA is for Networking only
Why are you so sensitive? It is true that breaking into full time MBA is much more competitive, and you know that. Companies and banks know that do.
@@khu8703 you are working on several incorrect assumptions my friend…sensitive, competitive…several ways to define the term competitive…And you are right that companies and banks indeed know what to do…
I have been interested in doing investment banking and I am now doing my bsc in Straight Physics and in addition to that I have been working in Lloyd’s bank for the past 3 years, what should I do to guarantee my success in application for an investment banking position?
Hi Afzal, your videos are helpful. Im an excel expert recognized by Microsoft please advise know what kind of jobs I can go for?
Once again a great video. I am Chartered Accountant from india and I have decided to come to London for MSc. Finance rather than choosing MBA finance. I do have basic understanding of financial world. I got interested in finance during intership of bank audit. I decided to do MSc. Finance than doing CFA. I believe I have taken the right decision but I would love here you opinion on the same.
Thanks!
There is nothing quite like the CFA.
You need both, the CFA is more technical in nature, the MBA highlight integration of different knowledge into practical application.
The last point you said - leaving the world of finance, do mba, re-enter the world of finance again. It is really needed when you are working in a not so good role earlier right?
You should do a video, ranking the top banks in order of top to bottom or tier then A*, A, B, C or F based on your opinions or from what you've heard from friends who work at other banks
*I commented this last video and quite a lot of people agreed too*
If we work for a government firm and we do our mba and we've cleared the first CFA level, would they still sponsor to complete the remaining two levels? Also, if I want to work in America but I did my MBA at University of Toronto, would I still be considered as a good candidate for the job? Cause there are so many ivy league grads and compared to them would I still stand a chance?
If this finance thing doesn't work out, please consider reading ebooks to us.😁😁
Is it common/easy to move on from sales and trading at an IB to a private equity firm?
My advice: Get a MSc with a focus on quantitative methods and data science if you want to get into Equity/FI/HF Research, Trading, Portfolio- or Asset Management. The stuff you learn with the CFA is old-fashioned, analysts who still rely on excel are dinosaurs. You‘ll become of much more value in the coming years with decent R/python/matlab programming skills.
Totally agree. You can read principles of CFA in spare time. Msc in financial mathematics with python , machine learning, advanced statistics is the future. You can not learn that from just sitting 3 papers. Much more time at university to discuss with lecturer, colleagues in class etc and go over programming
Super agree. It shows from the market as well
@@ozinjusz as Anthon from trading institute put it on his Twitter - CFA is toilet paper.
@@annajones9701 I enrolled in quant finance masters for next year to cover some R, Python and Matlab as well as econometrics, stats, stochastic maths etc. Literally got a job yesterday in middle office valuation team for this summer in an investment bank by putting my masters on cv in advance. Employers are looking for people with these skills.
in my opinion you cant really compare the cfa program vs an mba from a good uni however currently im also pursuing the cfa because i cant afford the mba
Hey, I am doing BBA, I'm confuse what should my career path?? Should I persue cfa OR should I do master in finance or go toward data science?
stay in india
Have you got a video on cisi? I’m having to decide at work which one I should be sponsored for. Got any advice
What’s your thoughts on the IMC Afzal? I’m thinking about taking that during my final year at university?
Good overview. Covers parts of cfa level 1 but more at undergrad year 1 level. CFA is equivalent to masters
I got my IMC when I was 23, it is okay, but it isn’t anything special.
I’ve had interviews at JPM, BOAML, Credit Suisse and UBS and even with an IMC it didn’t help that much.
They are looking mainly for relevant internship experience and logical well reasons to why you want that particular role.
IMC takes 220 hours and to be honest it is pretty standard undergrad content, its not worth the time & effort.
You may as well get an MSc or MBA and use the career network at the university to get an entry level role (if you dont have any prior experience in banking).
What are your thoughts on getting a Masters of Science in Finance? There has to be pros to it because it’s so specialized compared to the MBA where they don’t dive into the details as much as MSF students. I would love for you to do an MSF video.
I'm really interested in this too
Do MSQF
Same
A mba with a specialization in Finance will go in depth as a MSF. The MSF is equivalent to a CFA level 2 or maybe 3, as you will be learning the same topics. If you want to do a MSF, look for a program that will teach you other subjects than finance as well, communications or strategy. If you just want to learn financial concepts, doing a CFA is a cheaper alternative, and will give you the exact credentials in the eyes of an employer.
@@saudarshi6916 Thank you so much!
What will be the best thing out of two if anyone wants to switch his/her field to finance?
Any tips on deciding what i want? I kind of want to do management consulting but i would also like a career in finance.
What about an Msc video? Great video thanks
Yes please
Yes we need one!!
i like your last name. give it to me
@@AMP_PLUS 😂
And there difference between economics/finance and math,computer/natural science and so on
@Afzal Hussein is a CFA level 1 and level 6 investment securities a good apprenticeship program
What age should you start studying for CFA ?
How would you be able to find time to do a CFA if you're working in IB?
Why would you need a CFA as an IB analyst?
@@Joey-vs1je dude clearly you're not paying attention to the video
Thank you, great video!)🙌🏻
Quick question: Could please make a video about “CFA vs Master of Economics vs Master of Quantitative methods and Computer science” and Which one I should choose if I want to be a trader?
Thanks in advance!)
P.S anyone’s view will be appreciated🙌🏻
Neither is useful or will really help you been a trader. Just get a good mentor, lots of trade books and practice...real world retail trading experience beats all....start with bank, learn their style, after have enough capital then ditch bank and trade your own account.
@@annajones9701 Thank you for your response! I would like to see your opinion again :). What is your thoughts about CMT ( technical analysis qualification)?
will it be worth to obtain that qualification for trading career?
@@adonisss9307 no
@@adonisss9307 analogy is if you want to be a successful boxer, weight lifter, bodybuilder you need go out and do it. No qualifications will mean much. Results! Is not like knowledge to be a doctor, lawyer etc. Experience and doing it are king in trading.
@@annajones9701 experience is the king of everything bro. not just trading
I love your videos, they're very interesting. I'm only in 9 class and I come from Germany. I also want to become an investment banker and work by Goldman Sachs or other large investment banks.
Learn how to speak English first.
azfal bhai, can u make a video on lev finance in investment banks and exit opportunities, I would appreciate it so much
He is not "Bhai" 😁😁😂
@@abhishekbal399 lmfaooo bro goon
I thought those salaries were higher. The average software developer is receiving more than that in the US.
Hi Afzal. Would you recommend doing a MSc at Queen Mary's to get into Investment Banking?
Do you think going for the CFA III is worth the effort?
Is CFA for completed beginner, that has his/her motiviation to start in finance and banking?
Is it worth doing a Masters programme with the CFA Level 1 included? I have seen a lot of universities offer this for an extra £1000 , is this a good idea?
Some masters program structure their curriculum to match the CFA Level 1 curriculum. I am currently doing a MSc in Asset Management and everything I am covering is practically on the CFA Level 1. Additionally, affiliated CFA Master’s programs have student scholarships. I managed to get a scholarship which reduced my CFA exam fees to $350.
@@MyJurja Thanks! Where are you doing your MSc?
It is definitely worth it.
have you read the book, security analysis? thanks
Only do an mba at a top school. Not worth it doing it from a non target
how are mba programs in countries in asia for example ciebs in china, is it recognised highly throughout the world or more in asia
CFA or ACA?
MBA or MSc in finance?
Is this an old vid? I thought I've seen this video before.
Why not just do both and be a beast?
Both for the cubicle brigade
Were these financial figures in dollars or pounds?
Is MS in Finance good investment than MBA
Why are those even comparable...
So can I be investment banker if I did MBA???
How about Masters in Finance?
CFA is more important for sure !
Max was here
I think this video missed the mark pretty hard. The real question of CFA vs MBA should be “Are you looking to change careers?” If so, MBA all the way. I work in the back office of a large brokerage firm. I passed CFA level 1 and the resounding response when looking to move into more front office roles was “who gives a shit, you passed a test, what experience do you have?” From what I’ve gathered, that doesn’t change much after higher levels. An MBA opens doors, the CFA makes you a better candidate for an analyst role if your already in an associate position. Also, I think your salary numbers are skewed in the wrong direction. You used the median MBA salary, but the median MBA isn’t worth shit. You need an MBA from a top program if you’re looking to move into the roles being discussed, and the median MBA salary really starts to jump once you hit the top 25-50 schools, and then skyrockets when you start looking at the top 15, top 7, or top 3 programs.
Is CFA mandatory for buyside?
you have such a nice accent are you from west london?
Do both
Can a CFA work in private equity front office
PLZ MAKE A VIDEO ON ACCA TOO, I'M CURRENTLY DOING IT,
1---CAN A PERSON GO INTO MANAGEMENT SIDE AFTER ACCA?
2---CAN A PERSON DO MBA AFTER GETTING Bsc.APPLIED ACCOUNTING DEGREE FROM OBU?
3---SHOULD A PERSON CHOOSE CFA AFTER BECOMING A MEMBER ACCA?
4---ARE THERE OPPORTUNITIES IN INVESTMENT BANKING FOR AN ACCA?
Help! Anyone here using a Macbook Pro? Any success with the Excel functions using a Mac? I am a finance student studying for the CFA and I feel like I am the only one using an Apple product for Excel and having issues with finding all the correct Excel functions/short-cuts. I am seriously considering purchasing a PC for all of my excel needs; but, I love my Macbook Pro. Please share your thoughts.
Buy a windows. Mac is a not recomended for financial analyst
@@Dimasshard Which windows Laptop do you recommend?
@@alexgeorge641 The ThinkPad X1 Carbon is the Windows equivalent of a MacBook Pro.
It's basically equivalent (in price too, unfortunately).
@@f.p.5410 Thanks!
What are potential benefits of CFA+ MBA from top b school
It’s pretty obvious surely ?
There is a lot of inaccurate information here. There are many part time or evening MBA programs that allow you to complete your MBA while working full time. In addition, a part time MBA can only take you two years to graduate. Also, companies will pay for your MBA. I can attest to this as I am currently attending an evening MBA with my company sponsoring the entire 100k cost.
Let me ask this stupid question, how does people live when doing an MBA if they borrow money to do it and also dont have a salary? ._.
Daddy’s money
@@lolasogm savings
why mba and not msc? thanks
Top MBA (INSEAD/H/S/W + top 15) > CFA > Random MBA
What is your W?
@@fernandopimentel5463 Wharton
@@user-ln2th5nq1g what is s
@@hsaaasss7455 Stanford
a Los Angeles County sheriff department deputy can make +$100,000 a year with a high school degree. An MBA is $50,000 a year ?!
All
top 7 mba > cfa + cpa + etc
ACCA vs CIMA anyone?
I am doing CFA and planning of doing Master’s in finance and banking. Is it worthwhile as it attract all the pros of regular college hence more opportunities for landing in top banks?
Just do masters and skip CFA. Do one not both.
@@annajones9701 thank you!
MBA has become a commodity degree
Most CFA candidates don’t retain much after exams. Chewing through books alone doesn’t do much to advancing one’s career. MBAs do put knowledge to use and learning from experienced peers is far more valuable than textbook knowledge alone. MBAs are suitable for specific groups. There are many MBA candidates who don’t really need the degree to do well in finance or business. Neither is silver bullet, neither is direct answer to the super competitive nature of IB/PE jobs.
Dada Tumi bangla jano , Its great to connect with you. I recently got placed in an IT MNC in India , I want to move abroard specially US to Study MBA or MS , MBA is much more costly so Ami bhabchilm je MS in Finance ta kmn hoba. Ektu please help koro.
O kothao boleche o Bangla jaane ?
@@abhishekbal399 LinkedIn Dekh
@@shilanjoybhattacharjee1534 Hiw about you look up my Linked in. A lot of confusion and misgivings will clear automatically. Just saying.
@@abhishekbal399 I didn't get you what you mean to say.
LinkedIn Profile ta dekhh jini video ta baniyacha tar
I think where you do your MBA has a large impact on your salary compared to a CFA. Someone who did an MBA at HBS or SBS will likely earn a lot more than the average CFA holder.
As a 14 year old, is there anything that I can do at this age to help me potentially work at an investment bank in the future, gcse's, work experience etc? Good video, keep it up 👍
Don't do that, thanks! Enjoy your life now and try to get into a good college; possibly, and I mean possibly, try to get a finance-related internship and see if you like the field. That's all you should be doing now. Don't worry about anything else. Enjoy your life as a youngin please please please.
Charlie if you’re consciously trying to set yourself up now, trust me, you’ll be fine. Study hard, do well in exams, choose valued a levels (maths/Chem/bio/physics/economics) and a valued degree (maths, econ, engineering) at a good uni getting placements/internships during those years. Masters in statistics or a relevant area applicable to finance/economics. Focus on developing yourself as a person by being sociable and finding things outside academia you enjoy.
@@DynamicArtsHD he should be skipping school to play video games, eating pot noodles and drinking coke rn, not being worried about this
@@liqritrs8391 I agree tbh, he asked for advice and I gave it though 😂
When you say $72,000 and $59,000 for MBA - What currency we talking
dollars loool
Average MBA graduate from my school makes 100,000
The main cost of the MBA is the lost earnings.
CFA level pass rates are so low
CFA doesn’t cost anywhere near $5,000. It’s much much less.
It's like $450 registration + $950/exam, that's $3,300 standard. It's not "much much less".
Fail one level (quite common) and it's already $4000+.
If you decide to buy books that's an extra cost too.
I'm referring to average candidate exam registration fees, resources, classes, and retakes.
An MBA doesn’t stand out more than other Masters. MFE, MSc, MCom & MA >>> MBA
many people commit suicide due to the unreasonable CFA programme...
le Indians- doing both simultaneously
$80 to $100k 🤯🤯🤯🤯.
Bitcoin is the feature investing in it now is the wesest thing to do now especially the current rise
Despite all the economic crisis this is the right time to start up an investment
Stocks are good but crypto is more profitable
I wanted to trade crypto but got confused by the fluctuations in price
That won't bother you if you trade with a professional like Mr Mark
I heard that his strategies are really good
For the Algorithmus