MarkT Posted December 13, 2017 Share Posted December 13, 2017 https://www.axios.com/the-death-of-the-mba-2511421009.html Quote Link to comment Share on other sites More sharing options...
MerryAtHope Posted December 13, 2017 Share Posted December 13, 2017 Wow, I'm surprised to read that The University of Iowa shut down their MBA program. Fascinating article. Quote Link to comment Share on other sites More sharing options...
Roadrunner Posted December 13, 2017 Share Posted December 13, 2017 MBA is one of those rare degrees that where you went to school matters the most. It is tremendously valuable from a top 5 school and worthless at the lower end of the ranking. Most of what you learn can be acquired at work, so you go to top 5 programs to make connections. 2 Quote Link to comment Share on other sites More sharing options...
MarkT Posted December 14, 2017 Author Share Posted December 14, 2017 MBA is one of those rare degrees that where you went to school matters the most. It is tremendously valuable from a top 5 school and worthless at the lower end of the ranking. Most of what you learn can be acquired at work, so you go to top 5 programs to make connections. This has changed a lot decades ago they wanted MBAs even from mid to even lower level schools. Lots of my friends pursued that - I got my MS (glad I did). Quote Link to comment Share on other sites More sharing options...
chiguirre Posted December 14, 2017 Share Posted December 14, 2017 Wow, I'm surprised to read that The University of Iowa shut down their MBA program. Fascinating article. It was their full time program. They still have an executive MBA (every other weekend while you work). 1 Quote Link to comment Share on other sites More sharing options...
Crimson Wife Posted December 14, 2017 Share Posted December 14, 2017 My DH has found in the 11 years since he graduated that most jobs say MBA *OR* Chartered Financial Analyst (CFA). He has both but learned way more about finance in preparing for the CFA exams (there are 3 of them) than he did in business school. The cost to buy the exam prep materials and register for the exams was maybe $5k and paid for my his employer. Whereas his MBA cost six figures of his own money and that's even after some scholarships. Now in order to even sit for the CFA exam, you have to be working in finance. So since his background was an Army officer, he did actually need to get his MBA just to break into the industry. But he has advised younger colleagues not to bother paying for the MBA and simply get their CFA's instead. 4 Quote Link to comment Share on other sites More sharing options...
Bootsie Posted December 14, 2017 Share Posted December 14, 2017 My DH has found in the 11 years since he graduated that most jobs say MBA *OR* Chartered Financial Analyst (CFA). He has both but learned way more about finance in preparing for the CFA exams (there are 3 of them) than he did in business school. The cost to buy the exam prep materials and register for the exams was maybe $5k and paid for my his employer. Whereas his MBA cost six figures of his own money and that's even after some scholarships. Now in order to even sit for the CFA exam, you have to be working in finance. So since his background was an Army officer, he did actually need to get his MBA just to break into the industry. But he has advised younger colleagues not to bother paying for the MBA and simply get their CFA's instead. The CFA exams are focused on a very specific area of finance; for those who want to specialize, it can be a great option. The MBA, by its design, is meant to be a broader, more general degree. You do not have to be working in finance to sit for the CFA exam--even students in their senior year of college can begin sitting for the exams. 2 Quote Link to comment Share on other sites More sharing options...
SamanthaCarter Posted December 14, 2017 Share Posted December 14, 2017 (edited) It’s about time. What a meaningless ticket punch. When I was in accounting school, we had to take a certain number of MBA classes for our graduate degree. They were a joke to all of the MAcc students. Seemed like all of the MBA students were there just to hear themselves talk. Which was good, I guess, since a large percentage of the grade was “class participation.†I have little respect for the MBA. Sent from my iPhone using Tapatalk Edited December 14, 2017 by SamanthaCarter 2 Quote Link to comment Share on other sites More sharing options...
Crimson Wife Posted December 14, 2017 Share Posted December 14, 2017 The CFA exams are focused on a very specific area of finance; for those who want to specialize, it can be a great option. The MBA, by its design, is meant to be a broader, more general degree. You do not have to be working in finance to sit for the CFA exam--even students in their senior year of college can begin sitting for the exams. I'm pretty sure he had to document a certain number of years' experience working in finance as part of his application. Quote Link to comment Share on other sites More sharing options...
Bluegoat Posted December 14, 2017 Share Posted December 14, 2017 I don't think people have found MBA add much value in and of themselves. And I think there has been analysis that suggests it makes almost no difference to your job prospects or salary, which tends to be a major reason for getting it. Quote Link to comment Share on other sites More sharing options...
Bootsie Posted December 14, 2017 Share Posted December 14, 2017 I'm pretty sure he had to document a certain number of years' experience working in finance as part of his application. There are some work requirements to receive your charter, but not to start the exam process. At one point, to receive your charter you had to have work experience as a research analyst or in portfolio management, but that has broadened over time. The CFA is becoming more of an entry level credential--which is another trend that is occurring in professional education. Quote Link to comment Share on other sites More sharing options...
Pawz4me Posted December 14, 2017 Share Posted December 14, 2017 The following work experience is required in order to become a CFA Institute member: At least four years (48 months) of experience in: Evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process; supervising persons who conduct such activities; or teaching such activities.For a position to qualify, at least 50% of your time should be spent directly involved in the investment decision-making process or producing a work product that informs or adds value to that process. Work must be full time and can be earned before, during, or after participation in the CFA Program. Managing your own investments or the investments of your family or friends (without compensation) does not qualify. Source 1 Quote Link to comment Share on other sites More sharing options...
OrganicJen Posted December 14, 2017 Share Posted December 14, 2017 I knew someone who was duped into paying to go to an MBA program because he said they were telling him how companies recruit their students to be the CEOs of their companies before they even graduate. They convinced this person that he would go right from school to being a CEO. Quote Link to comment Share on other sites More sharing options...
Bootsie Posted December 14, 2017 Share Posted December 14, 2017 The following work experience is required in order to become a CFA Institute member: Sourc e This is to become a regular member of the CFA institute. However, you may begin the exam process before becoming a regular member. In fact, becoming a member requires that you have passed the CFA Level I exam or a standards of practice exam. Quote Link to comment Share on other sites More sharing options...
Roadrunner Posted December 14, 2017 Share Posted December 14, 2017 The following work experience is required in order to become a CFA Institute member: Source Yes, but you can get your work experience after. Having completed exams (and those three exams required are extremely challenging) helps you to get hired. Quote Link to comment Share on other sites More sharing options...
madteaparty Posted December 14, 2017 Share Posted December 14, 2017 It’s about time. What a meaningless ticket punch. When I was in accounting school, we had to take a certain number of MBA classes for our graduate degree. They were a joke to all of the MAcc students. Seemed like all of the MBA students were there just to hear themselves talk. Which was good, I guess, since a large percentage of the grade was “class participation.†I have little respect for the MBA. Sent from my iPhone using Tapatalk YMMV, I took a couple of classes at the business school when I was in law school and they were the hardest classes I've ever taken. But I'm not that smart :) Quote Link to comment Share on other sites More sharing options...
SamanthaCarter Posted December 15, 2017 Share Posted December 15, 2017 (edited) What did you take? Risk Management was challenging, but mostly because quizzes and exams were all essay. Edited December 15, 2017 by SamanthaCarter Quote Link to comment Share on other sites More sharing options...
Pawz4me Posted December 15, 2017 Share Posted December 15, 2017 (edited) This is to become a regular member of the CFA institute. However, you may begin the exam process before becoming a regular member. In fact, becoming a member requires that you have passed the CFA Level I exam or a standards of practice exam. Yes, but you can get your work experience after. Having completed exams (and those three exams required are extremely challenging) helps you to get hired. Ummm . . . yes. I posted to clear up the confusion, clearly pointing out that what I was quoting was the requirement to become a member. And then the bit I quoted clearly states that the work experience can come before, during or after the examination part. It's really not hard or confusing to understand. ;) Edited December 15, 2017 by Pawz4me Quote Link to comment Share on other sites More sharing options...
Roadrunner Posted December 15, 2017 Share Posted December 15, 2017 (edited) Ummm . . . yes. I posted to clear up the confusion, clearly pointing out that what I was quoting was the requirement to become a member. And then the bit I quoted clearly states that the work experience can come before, during or after the examination part. It's really not hard or confusing to understand. ;) Sure. Just underlining that part because your first post implied that one needed to be working in the industry, to get on the CFA path. At least it sounded that way to me. I have often seen on resumes just indication of which level of exams were passed and that was enough to make us look more closely at a candidate. And for those who are interested, there is also CFP (chartered financial planner). I also agree that CFA carries just as much (if not more) weight than an MBA. Edited December 15, 2017 by Roadrunner Quote Link to comment Share on other sites More sharing options...
madteaparty Posted December 15, 2017 Share Posted December 15, 2017 (edited) What did you take? Risk Management was challenging, but mostly because quizzes and exams were all essay.I don'r remember now, I think I may have blocked it out. It is a decent business school though and everyone seemed to speak a language that I didn't understand :) Edited December 15, 2017 by madteaparty Quote Link to comment Share on other sites More sharing options...
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