Mulling the MBA
One thing that I've been mulling recently, as I've been studying for the next level of the CFA, is whether or not I should get an MBA.
For me I don't think it makes a lot of sense. I had a business background in college, and if I get my CFA plus a few more years of experience, I should be all set!
It's not that simple though. There are some who speculate that having a CFA is fast approaching having a CPA. Simply put, the comparitive effects of the CFA is being diluted as more and more people obtain one. There could be a foreseeable future where one needs a CFA AND an MBA. Now that won't be a problem if I can get my current/future employer to pay for it. However, I don't know how likely that will be. CFA are relatively inexpensive, but MBAs are in the high 10s of thousands.
From my perspective, here's why I don't want to get an MBA:
Another piece of the puzzle will depend on the type of company I ultimately end up in. Some companies put more weight on the MBA than the CFA. Others are pretty neutral. It just depends on a variety of factors. As such, I have yet to come to a conclusion about whether or not I should get an MBA. Hopefully within a year or two, I'll reach a more definite conclusion.
Tags: cfa mba
5:55 PM
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6 comments:
I've been considering the international MBA from Thunderbird School of International Management in Phoenix, which has an online version. The tuition is fairly reasonable (and is broken up into semi-manageable chunks) considering that they've ranked #1 for international MBAs in U.S. News and World Report for 11 years running--it's about half what you'd pay for a Kellogg MBA (usually ranked in the top 3 business schools).
You might want to consider an Executive MBA. These programs usually have classes in the evening two days of the week and can be completed in about 18 to 22 months.
Getting an MBA is all about being competitive. If you have one and the next person interviewing doesn't have it then you've got an advantage.
Talk about dilutive - what's more watered down than an MBA? Unless you go to a high-powered school (Wharton, Kellog) I don't think there's a whole lot of value.
I'm in the same conundrum about whether to sign up for the MBA or another master's program. I really don't want to spend that time and money in class, but being in IT, and being more on the analyst/PM side than developer, I really think I should go for one.
My employer reimburses up to 5250 per year, but that would only cover half of it all. My requirements are convenient location, class times and low cost.
I'm planning on heading back to school in the fall for a master's degree, so I completely identify with your internal debate.
I think you are young enough, though, where you have some time to figure out if an MBA is right for you.
Bottom line: If you are debating on going back to school two years from now, then I think you should do it. Why? Because you'll be debating about it at 30 and 40 and wishing you had done it at 50, 60, 70...
Totally depends on your career path over the next couple of years though.
Franky, DH is doing an MBA part-time right now specifically because we want to have kids and he needs to be done or close to finishing when we do. He's doing it to supplement a Phd, so it's a different boat we're in than you. For what it's worth, it's expensive, part-time because of where we live is $20k/year at least just for tuition and books. There are no public schools nearby. I am constantly torn between horror at the debt we are accruing ($8500 and counting) and if he'll make enough to pay it off by the time he graduates. But he wants to do it.
For you, our neighbors both have MBA, they were both accountants, and he's getting a CFA. They did it because they wanted to get out of accounting and into other fields of business and this allowed them to switch. It may not have been the best financially, but it made them happier (straight from their mouths). They both took the full time 2 year program rather than the part-time route we're going. Becaues of their business backgrounds they wanted to intern in different areas. My DH wants to specifically stay in pharmaceuticals and move into the upper echelons.
Hope this gives you some ideas.
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