Thursday, June 17, 2010

MBA plus CFA or CPA... Where is this mature student to go to get some job experience?

OK, here%26#039;s my situation. I%26#039;m a %26quot;mature student%26quot; in the midst of changing careers and going back to school. I%26#039;m studying for my MBA (my undergrad degree is non-business related), but as the MBA is very general, I want to take steps to narrow my focus towards obtaining either a CPA or CFA credential down the road. Setting aside the existential dilemma of deciding between a CPA or CFA--as no one here can answer which one is best suited for me--where would one with virtually no on-the-job experience in either accounting or finance go to get some on-the-job work experience at this stage in the game? To phrase it differently, I don%26#039;t want to spend the next 2 years getting my MBA without doing either some finance or accounting related work as experience is just as important as the degree. Where should I look? (FYI, I%26#039;m in the greater Boston area.) Any suggestions for this late-bloomer?



MBA plus CFA or CPA... Where is this mature student to go to get some job experience?

My advice to you would be go for CPA, many MBA program allow you to concentrate on accounting, therefore you can take enought accounting class to qualify for the CPA exam. To become a CFA take at least 3 years, on average people take 4-5 years, since for CFA you must complete three different exam and those exam are only offer once a year (with the exception of the first exam, they are now offering it twice a year), it would be very difficult for you to pass the CFA exam if you have no experience what-so-ever, if you are serious about becoming a CFA, you should go to a M.S. in Financial Analysis program, where they concentrate on the CFA exam content. You should also look into becoming a finanical advisor and gettng your CFP (certified finanical planner) certification. I just believe much more opportunities exist for a CPA than a CFA, espeically you are no longer a fresh college grad where you can wait years trying to pass the CFA exam, while gaining experience.



MBA plus CFA or CPA... Where is this mature student to go to get some job experience?

This is the very reason why most good MBA schools will not accept you without at least 2 years of significant work-related experience. You must%26#039;ve been admitted into a school that is not so highly ranked, I%26#039;m sorry to say. You will have to pay the floor price and start doing internships until you get enough experience to get hired. Your school should be able to line one up for you. You can use this time as an intern to network and gain valuable experience. But let me assure you that you will not be earning MBA-type salary when you are hired. Because of your lack of experience you will probably be earning the same as someone with a bachelors degree or less. But it is worth it. Hang in there and plow the rough road ahead. Good Luck!



MBA plus CFA or CPA... Where is this mature student to go to get some job experience?

If you%26#039;re in Boston, why don%26#039;t you try to get into Fidelity? I have no idea if they%26#039;re hiring, but it would give you alot of experience, and their call centers are huge. Also, big 6 firms are there, Arthur Andersen, PRice Waterhouse Coopers (and whoever else they bought) Toronto Dominion - (TD Bank Group) - TIAA-Cref, I mean, you%26#039;re in the middle of the financial district.

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