Major Difference Between CFA And MBA-Finance. The Major Difference Between CFA And MBA-Finance is as outlined below. Individuals who tend to go into finance related fields gets confused most times as to which to select. Is it the Chartered Financial Analyst (CFA( or the Masters in Business Administration (MBA). But you have to know that the choice depends on you. it depends on the professional goal you want to achieve.
Chartered Financial Analyst
The Chartered Financial analyst certification is provided by the institute and the degree is recognized worldwide by investment firms like the banks. the exam taken to get this degree takes 3 years and its of three levels which are the Level 1, II and III. Candidates have to pass each level to be able to certify for the degree. You have to prepare for this exam very well as it is demanding especially if you do not have a background in finance and you must avail yourself for each year.
This is where students are introduced to the different fields of business example marketing, accounting, operation management etc. To choose this path, you must put certain factors into consideration which are your previous work experience, area of interest etc. the MBA’s are usually employed for team manager profile.
Masters in Business Administration – Finance, where students are introduced to various areas of business like accounting, marketing, human resources, operations management, and majorly to Finance. The career path after MBA, depends on a lot of factors, including your area of interest, previous work experience and business acumen of specific domain. A lot of employers recruit MBA’s for team manager profile where the employee is expected to manage and take quick decisions in their domains. The basic types of MBA courses are typically full time (2 years), part time for evening and weekend batches. There are also Executive MBA’s which are specifically meant for more work experience people.
Major Difference Between CFA and MBA-Finance
The difference between the two are as below.,
- The CFA will make you a finance expert while MBA will make you have managerial skills
- CFA takes about 3-4 years to get the degree and become an expert while MBA takes just 2 years.
- CFA certification is affordable while that of MBA is about 4 to 20 times higher
- The average study week for CFA is 10-15 hours per week while that of MBA is about 5-6 hours per week
- The CFA median salary is USD 73,000 while that of MBA is USD 63,000