Is there any point in acquiring a CFA, an MSc, or an MBA in this market?

18 May 2009

1 minute read

Is there any point in acquiring a CFA, an MSc, or an MBA in this market?

Last week we hosted a roundtable for Chinese financial services professionals in London. 30+ Chinese bankers were given the opportunity to ask a combination of headhunters, bank recruiters, and banker(s) about their careers.

Of all the questions asked, one had a particular resonance - is there any point in boosting your qualifications right now?

The answer, overwhelmingly, was not really. In this market, the general verdict was that experience counts for a lot more than qualifications. The sheer quantity of people studying for qualifications like the MSc will have a deflationary impact on its value, according to the head of recruitment at one firm.

Separately, MBA openings are likely to be slim this year - banks already have more than enough experienced analysts to convert into associates.

And what about the CFA? A record 128,000 investment professionals have enrolled for CFA exams in 2009, up 14% on 2008. Is the qualification now necessary, but not sufficient, if you want to work in fund management?

Let us know what you think below. Are qualifications really worth the money - and the time?

AUTHORAnonymous

Insider Comment

Ma
Marty
6 August 2010
Is really MSc. better over CFA? Well, Im not so convinced. I have a MSc in Investments, and find it difficult to find a good "investment" job, just becasue most employers require CFA qualification as well. The thing is, CFA is internationally recognised, and everyone knows what it is about. Having a Finance degree from Irish university like I do, does not seem to help... At least these times :(
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ar
armagedon
12 June 2009
A true commitment to your career is not a short term decision, and should reflect the passion for what you are doing.
If it is your career path, an MBA is still a great decision. It is just that the investment will not have a 3 year break-even. CFA is a very similar situation, but with the advantage that it is less expensive to pursue.
Stop being short-sighted.
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As
A survivor
1 June 2009
A qualification like an MBA or the CFA will always stand you in good stead. Certainly worth doing even if the short term position is unclear.
Key points you are forgetting.
1) You can study for a CFA while working.
2) Demand for MBA's dipping. Not a great time to do a full time MBA but if you can afford (financially and work commitments) to do one at a good school then do it.
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CF
CFA overlaps the FSA
27 May 2009
It's funny when you find people signing as CFA, usually means that they're not MSc - ie back office people who've entered the trading floor by having beers with a head of a desk that used to be back office as well.
Don't get me wrong, I know a lot of very smart BO people... the point is: I don't find the CFA enough to compete with MSc or PhD for front office positions.
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Te
Technically Working
26 May 2009
MBA has staying power, more likely to be transferable and not just for the banking sector. Good thing is doesn't take years.
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