CFA vs MBA: Which Is Better?

Confused about what to choose between MBA or CFA? Well, that’s a tough question. The CFA program is a minimum 1.5-year certificate course covering financial portfolio management, financial analysis, and investment management. At the same time, MBA is a 2-year course that addresses finance, marketing, sales, human resources, and customer service.

This article will be the catalyst for the choices and help to learn more about the two courses.

CFA vs MBA Key Highlights

Both MBA and CFA are very complex courses for you. Both these courses expand the financial skills of the candidates. But are these courses the same? Well, the answer is, No. Though the result is similar, the courses are different. Let us delve deeper and evaluate both the courses.

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CFA vs MBA Overview

People having an inclination towards management and finance should look into the benefits and opportunities under these two courses, as these are among the most challenging yet recognised degree programs in India and across the globe. CFA is a professional degree program wherein a student gains insights during the tenure becomes qualified to become a financial analyst of an organisation and understand the financial market and risk management for an organization. Subjects like financial modelling and valuation shape the you to be proficient in financial markets and become an expert.

MBA is a post-graduate program that allows you to gain an understanding of the management functions and principles under the different domain like marketing, HR, and finance. During the 2-years, you are imparted with theoretical learning of the subjects and given practical exposure through case studies and research projects.

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CFA vs MBA Eligibility

Universities and Institutes that offer courses like MBA or CFA make a candidate better equipped for the corporate challenges. These institutes have different criteria for admission. These requirements vary throughout the country, depending on the institute's curriculum. We have divided these eligibility conditions based on age and work experience requirements.

Eligibility For CFA

• An applicant is expected to be a graduate or in their final year of a bachelor's degree programme. There is no specific requirement for the stream in under-graduation for a candidate applying for CFA.
• The candidate should also hold a valid International Passport.
• Before starting a career as a full-time CFA in any organization, a student must necessarily complete training or work experience of 4-years in a significant sector or industry.

Eligibility For MBA

• For MBA or Masters in Business Administration in India, a student must have completed a full-time graduation degree from a recognized university regardless of the discipline.
• A minimum percentage of 50% is required for taking admission into any MBA Business School.
• Usually, an average of 2.5-3 years of work experience is expected from applicants. However, the criteria for work experience may vary from institute to institute.
• You will have to sit for entrance examination like CAT, MAT, SNAP and XAT.
• After clearing the cutoff of the desired institute, the student undergoes group discussion and personal interview rounds.

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CFA vs MBA Curriculum

Even though both the courses aim at providing a distinctive education programme to aspirants, who want to establish themselves in the field of management and investment. The curriculum and duration of the courses differ drastically. On one hand, CFA is about imparting knowledge that is based on theory, on the other hand, MBA is about providing experiential learning along with cross-functional knowledge to the students.

CFA

• A course in Chartered Financial Analyst (CFA) which is regulated by the USA- based CFA institute constitutes 3- levels which have a tenure of approximately 1.5 to 4 years altogether.
• Level 1 is mostly based upon introducing the basic aspects of investment and its analysis.
• The 2nd Level is focused on being acquainted with investment tools and the valuation of assets.
• The final level of CFA emphasizes learning the use of analytical tools to understand through the application while handling portfolio and wealth management.
• During the curriculum, a total of 10 subjects are taught to the students, however, the weightage for each subject differs from level to level. For example, subject ‘ Quantitative Methods’ has a weightage of 12 in Level 1 but has zero weightage in Level 3.
• Also, a candidate has to go through three examinations each of 6-extensive hours. The difficulty quotient of subjects and examination requires utmost dedication and passion to cross each of the levels.

MBA

• An MBA or a Master’s in Business Administration is a 2-year course in management provided by top universities and Business Schools across the globe.
• During the 2-years of MBA, the curriculum is divided into semesters. While the 1st year is concentrated on imparting generalised knowledge about the fundamentals of management and providing basic knowledge about various aspects like marketing and HR.
• After the 1st year- the student’s under-go summer internship for 2 months.
• The 2nd year is dedicated to providing extensive knowledge on one specialisation opted by the candidate amongst the different specialisation programs offered by the institute.

CFA vs MBA Fees

The total cost of doing an MBA from a reputed university or an institute can be a costly affair, with an approx cost of INR 9-10 Lakhs annually. This cost is exclusive of the expenses a student may incur during their living in campus or hostels for 2 -years. Most MBA students take up education loan to pursue a degree in management. Whereas, a course in CFA, is far less pocket pinching than MBA. During the learning period, the students have to pay about approx 2.5 Lakhs, this includes the expenses for examinations, books, registration fees and mock tests given by the CFA Institute.

CFA vs MBA Benefits Of Pursuing

 A course in CFA as well as in MBA provide you with exemplary career flexibility and opportunities. However, both courses have their unique set of advantages for the students. following are some of the benefits one may achieve through a course in CFA or MBA:

CFA

• A student during the course gains knowledge about the global financial markets in a unified and well-structured format.
• Pursuing a career in finance allows one to build critical and quick-witted skills ensuring a new dimension to career growth and development.
• After being licensed as a CFA, a student may gain dynamic and growth-oriented job opportunities.

MBA

• A chance to gain cross-functional knowledge and a chance to witness peer-to-peer learning with students coming from varied disciplines and backgrounds.
• An MBA professional is recognised internationally, which allows them to pursue a career in India as well as abroad.
• One can choose a specialised subject of their choice to get in-depth knowledge and expertise.

Also Read: MBA vs LLM

CFA vs MBA Scope & Opportunities

CFA is one of the most prestigious and high-paying career options in the field of finance. Due to its global recognition, a CFA has the opportunity to pursue a career in the Indian as well foreign financial markets. One has to be excellent in quantitative and financial analysis and should have the capability to perform valuation within no time.

However, in an organisation, a management that is equipped with theoretical fundamentals and practical knowledge and experience frames the backbone of the organisation. A course in MBA ensures a graduate offers such myriad opportunities and options to pursue their dream job in the corporates. Some of the key job profiles for CFA and MBA are listed below:

CFA Job Profiles

• Portfolio Manager
• Risk Manager
• Market Research Analyst
• Investment Bankers
• Chartered Financial Analyst

MBA Job Profiles

• Brand Managers
• Sales and Marketing Managers
• Credit Managers
• Investment Bankers
• Equity Researchers
• Supply Chain Manager
• Inventory Manager
• HR Manager
• HR Executives

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CFA vs MBA Salary In India

In India, one of the key materialistic reasons why people pursue such challenging careers is the reason to earn high salaries and respect in society. As the world knows, both CFA and MBA are growth-oriented career choices and one salary highly depends upon the kind of experience and specialization one has. Following are some of the popular job profiles under both the domains along with the average salary paid:

CFA  Salary

The CFA salary structure is given here.

MBA Salary

The MBA program salary structure is given here.

Also Read: MBA vs M.Sc

CFA vs MBA Which One To Choose?

Both CFA and MBA bring myriad opportunities and career options for aspiring students. The course itself is challenging, which makes the students ‘Corporate Ready’ before kickstarting a career in their respective field. A career in both the courses promise growth- opportunities, expansion of one professional network and gain expertise or specialised knowledge in a particular field.

Ever-green Demand: To make a business successful, a manager with specialised knowledge and skills is crucial. This is one of the most important reasons why a career in an MBA is never out of trend. Whereas, to understand the financial risks and development opportunities in terms of funds, a CFA with global exposure and expertise is essential.

Global Recognition: Both MBA and CFA are globally recognized and renowned courses for aspirants who want to pursue a career in corporate finance and management. CFA is regulated by a USA institution, whereas MBA is offered by top universities all around the world.

Towards the end, one can say that the two courses allow a pool of opportunities for the aspirants willing to pursue a career in the corporate world. Both the courses have their benefits for the students, one is hard-core finance career whereas the other one allows one to specialise in subjects which they are inclined and interested in. It is the student, who has to decide after doing a clear analysis of his/her interests and career goals. Till then, happy learning!