<p>Depends on whether he wants to be a CFA and spend a career publishing equity research or helping to make investment decisions with portfolio managers.</p>
<p>I'm a big believer in "only get the degree if you want to use it", where the only exception is college itself. If your son wants to attend a top-level MBA program, he should stand out at Morgan Stanley, work 2-3 years there, and then apply.</p>
<p>I don't understand your use of the phrase "applying without experience". He's a job right now, gaining experience. That's the best thing he can do to better qualify him to join a top MBA program. Pouring all his energies into his job will pay bigger dividends than studying for a CFA exam will, especially if he doesn't actually want to be a CFA (and besides, you have to work in the industry for 4 years before you can actually become a Chartered Financial Analyst anyway). That's if he wants an MBA. I'm assuming he really wants one or the other - and should probably figure out which.</p>
<p>Denzera, you have provided some good advice so far. I have a question about my situation: I am interested in a dual degree (Social Work and MBA) and I'm not sure when it's the right time for me to go back to grad school. I plan to do general management and policy evaluation. Should I continue to work 2-3 years and then go back? I can go back anytime for the MSW program because my BS degree is similar to social work.</p>
<p>what I mean is if he applied now, he'd have a bit more than a year's experience full time. Most MBA programs like to see 4-5 years of experience prior to applying. The CFA seems to be an excellent investment of time since he wants to be a financial analyst. It would look great on his MBA application - even just Level I, as well.</p>
<p>Don't take certification exams just to look great on an MBA application. The only thing that really looks great on an MBA application is success in the work that you've done. Leave a trail of satisfied customers. An MBA admissions board isn't looking to check a bunch of boxes, they're looking for leaders.</p>
<p>Plenty of people apply to top MBA programs after 2 years' experience. I'm doing so now, myself: Upon entry in Fall 2009, I'd have a little more than 3 years' full-time experience. Heck, many people apply such that when they begin the MBA they only have 2+ years - although statistically, fewer get in.</p>
<p>As for taking an exam to look good on an MBA application, that's the last thing I want to do. I'm a firm believer in doing things because you enjoy them (or at least intend to). One of the reasons I want to do a Masters in Finance is because the topic is fun for me, and I want to fill in the (large) gaps. It's like learning a language, if you stop with only the basics you tend to become frustrated and ineffective when attempting to communicate. </p>
<p>Perhaps more importantly I want to be a leader. I want to turn a company around, I want to come up with creative strategies, and spend hours on end sitting around a table brainstorming with my colleagues. There's just a feeling I get when I am in a similar situation.</p>
<p>So maybe I can learn the finance I want to know within my MBA program, and work in consulting until I feel ready to apply. Sometimes I wonder where we get the idea that we have to rush for everything. I should enjoy these times while I can.</p>
<p>Who knows, maybe I'll just join the peace corps. You're only young once, right?</p>