If you are struggling to decide between pursuing an MBA or a CFA (chartered financial analyst designation), your choice might have just become a little clearer. A recent Bloomberg Businessweek article reveals that investment bankers who have an MBA have a clear edge on colleagues who have a CFA. Using analysis provided by the London-based financial services Web site eFinancialCareers involving more than 17,000 individuals with ten years of professional experience, Bloomberg Businessweek noted that 16% of managing directors at banks around the world have MBAs, while only 7% of the same group have CFAs. Also, 18% of the MBA graduates included in the study reported their position as managing director, while the number was again lower—13%—for CFA holders.
As the article mentions, an MBA is more expensive and can be more time consuming, though earning a CFA is certainly no cakewalk—only 44% of those who took Level I of the exam in December 2014 passed, and successfully completing all three levels requires hundreds of hours of study. Still, the massive investment of both time and money that is required to attain an MBA might just give you the extra edge you need to really succeed in the business world.