Tuesday, August 16, 2011

CFA or MBA - Which Course is Better

Many aspiring students often get confused whether to opt for MBA or CFA. General queries like “which one is better course”, “which course would make them more marketable” and “which course will offer them a better salary package” arise in the minds of students are do not know which way to follow. Whether any student opt for MBA or go for CFA (Chartered Financial Analyst), the professional goals and management areas vary with regard to both these courses. The CFA India is of huge importance in the asset management industry; where as, MBA in India holds much importance in investment banking and business management in general. Chartered financial Analyst has no role in investment banking, though the course of CFA provides with the technical skills to succeed in investment management. A course of MBA offers more opportunities and prepares with a broad range of challenges in the business and management world. If only investment management comes into question, then also MBA course offers better prospects to succeed in the respected industry with good salary package. But some people consider CFA and MBA programs to be “complimentary” of each other, rather than “competitive” of one another. And for this reason, they believe that students should pursue both courses if they want to make their career in investment management.

The CFA designation is given after passing three tough exams. The candidate should also have prerequisite work experience. The estimated cost of the course is not more than $5000 depending on the quantity of the study materials acquired. Chartered Financial Analyst course offers better financial jobs and professions related with finance. CFA certificate holds much more importance if the person is going for investment managers, fund money mangers and asset management professions. But, MBA courses offer better job prospects than CFA courses because MBA degree from a renowned business school offer specialization in many different areas. MBA courses do not bound to a specific sector or type of business or work, where as, CFA courses offer jobs only in financial sectors.

Masters degree in finance helps students to prepare for careers in financial analysis, corporate finance and investment management. The Chartered Financial Analyst designation is compared to Masters in Finance degree. Though CFA program covers topics related to portfolio management and investment analysis, some standard topics of finance are also covered in Masters in Finance course.

In order to study the course of CFA in finance, there is no need of prior experience required. But for MBA courses in finance, industry experience is of utmost importance and an experience of 2-5 years would definitely help the students in learning the course in a better way. MBA courses are designed to teach the students about business management and principles required in a workplace. The MBA courses helps in making them adapt to various situations and perform even in adverse situations. In a real business environment, at times, various complex situations arise and being an MBA graduate, the person will feel easy in tackling such situations and challenges.

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