<p>Guys,
Quick info abt me : I have an MS degree in Electrical engg & has been working in top Telecom company in US for last 2yrs.</p>
<p>I wish to do my MBA from top 10 business school in Investment banking after 1-2 yrs.I know it would be a career change.
I have no background in finance..</p>
<p>I was wondering would CFA help in getting into a good school or will it atleast help in me in getting a good ( high paying) job ......</p>
<p>Any input would be appreciated..</p>
<p>First off where did you attend undergraduate and Graduate. Passing the CFA will not help you enter the finance industry in itself. The CFA has basically two types of candidates. Those with no finance related experience whatsover who take it in the hopes of breaking into finance. And the superstar PMs and Invement managers who already work in the field and need the certification. It certainly won't hurt your chances. The bigger challenge which your going to face is admission to a Top 10 MBA. Great Grades and superior GMATs won't get you in. Having some type of differentiating experience which sets you apart from the thousands of other engineers applying will get you in. CFA passed but without the charter will not impress admissions committees. Anyway, you need to think of ways to differentiate yourself in the next two years to improve your CV. Get into a Top MBA and you will have a good chance at Banking.</p>
<p>CFA will basically not help at all to get into IB. As good a GMAT score as possible combined with strong essays is your best bet into a top MBA program, which is your best chance into IB.</p>
<p>the value of CFA was top notch years ago, but recently have been diminishing as too many people are having it.</p>
<p>
[quote]
the value of CFA was top notch years ago, but recently have been diminishing as too many people are having it.
[/quote]
</p>
<p>Nonsense, Harvard graduates more MBAs each year than any top 50 MBA schools. Hasn't hurt its reputation.</p>
<p>The difference is MBA graduates from Harvard know what they want and what they need to do. A lot of people these days just take CFA for the sake of it. CFA is the designation designed to award to people who really enthusiast about investment banking and would commit their career into it. Are you gonna guarantee that all the folks taking CFA today will not get away from IB once it's collapse like recently?</p>
<p>As u (marine1300) said i need to differentiate myself in the next two years to improve your CV for getting into a Top B school. I am very frankly not sure on what steps should i take to improve my CV ( in particular finance) to improve my chances. Also based on the replies: CFA would not help me in getting into a good school......</p>
<p>
[quote]
CFA is the designation designed to award to people who really enthusiast about investment banking and would commit their career into it.
[/quote]
</p>
<p>Nonsense again. CFA isn't for investment banking. For more information, read this thread.</p>
<p>ok, so it's investment management, but per your post on that thread. On CFA</a> Institute Website, both investment management and investment banking, together with financial analysis are what CFA charter holder are really into.
But anyway, the topic of having CFA as an advantage is being discussed. As your previous example of MBA HBS graduate value. Did it reduce the value? I wouldn't say no, but then if you take a look at a broader view of the MBA designation 20 years ago compare to the MBA now, you can see a great decrease, just because not only Harvard or Ivy League schools are the only place that offer MBA. Did employer pay the amount of attention to the school that issue you MBA 20 years ago as much as they're doing now? Um... I don't think so.</p>
<p>Wow vins. You are in the same situation as I am except I dont have a MSEE. I do have an BS in Electrical Engineering and is very interested in getting a MBA. Ive only been working for about a 1.5 years at a good engineering company but I wont be applying to MBA school for at least another 2 years. </p>
<p>My hope is that after I receive my MBA, I would be looking for a career change into the finance world. I was looking at getting a CFA license and all that stuff eventually but Im curious if that is necessary if you decide to go into I-banking or only if you are just a regular financial analyst.</p>
<p>Any advice would be greatly appreciated.</p>
<p>Vins,</p>
<p>Remember that getting into a top MBA program doesn't mean that you have to have some extracirriculars related to finance. It could be anything. I think the classic rule of thumb is quality over quantity. I'm still several years off from B-school but I am lucky enough to have the type of thing the adcoms are looking for. I have been in the marine corps for 7 years with about 3 on active duty and 4 in the reserves. I've deployed to all the usual dumps(Iraq, Afghanistan) and am currently an E-6 Staff Sergeant. When it comes time for B-school, this type of experience should be looked upon favorably since it is in addition to my primary career. First off, don't set a strict timeline for when you should attend B-school. 4 years or 5 years of experience might be average for the top schools but that doesn't mean that 6 years would be a bad thing. Try not to rush the thing. For someone coming from engineering, a top MBA and a few years in investment banking will be a lifechanging experience. As for suggestions for EC's that will really help you get accepted, why not start your own foundation or non-profit organization focused on something you believe deeply in. Again, my plan is to start a N-F-P providing graduate level financial assistance and scholarships to military veterans. No such organization exists right now. Although I would never advocate joining the military to help with B-School admission, it would certainly double or triple your chances of acceptance. Some branches of the military have reserve officer programs where you get a commission without ever really having to spend time on active duty. I realize this stuff may not be an option or may not interest you. But I if you were to keep kicking ass at your company, get a commission and serve 1 weekend a month in the military for a few years, and do some extra stuff with non-profits, you would likely have a good shot at top 3 schools and be a better candidate for banking afterwords. This is just one out of a hundred possible ways to improve your CV and really just an example.</p>
<p>
[quote]
I have been in the marine corps for 7 years with about 3 on active duty and 4 in the reserves. I've deployed to all the usual dumps(Iraq, Afghanistan) and am currently an E-6 Staff Sergeant
[/quote]
</p>
<p>Then you should know to capitalize the "M" and "C" in Marine Corps, SSgt ;)</p>
<p>marine,
u mean do some voluntary work, non profit org stuff, community service right??
If thats the case i always wanted to do some . Also i can keep a record of hours too in my company..........
If theres anything else , plz ............</p>