Im in 2nd year of my undergraduate as business administration.I don’t know whether I should be doing CFA then MBA,or CFA and no MBA.
My Father has a textile wholesale business and my brother who is 27 is with him,but he isn’t paying interest in the work,so I think I’ll have to takeover eventually.
So if I choose either of the two options above , how are they going to benefit me in my career path?
Thanks
Where do you see yourself in 3 year, 5 years, then 10 years. Are you going into finance (In the investment decision making process)for at least 4 years? I would talk to one of your professors about it. Also, sit down with your dad and a financial planner to discuss the business and what your plans are. Tell your dad you need to know what his plans are so you can plan your life. He needs to put together his retirement and estate plan. Both of these things (CFA, MBA) are huge commitments. If you’re secure in your dad’s business you don’t really NEED either. The knowledge you gain is what’s useful. I don’t regret my MBA even though I’m self employed.
If you’re going to take over the business, don’t worry about target schools either. No one cares because you da man. Or woman, I don’t know you…
I would forget the CFA as useless on that career path (maybe do level 1 at most). A CFA from a good school will do way more in terms of the big picture perspective and make you a valuable network of connections.
You’re saying that I should do CFA from a good school and not on my own?
I’m pretty sure that was a typo. Swan meant “MBA” from a good school.
In that case can you suggest me some good schools in London?
I meant MBA, that was a typo. I’m sure if you look around you can find good schools.
I replied to you but it dosent show in the forumn? why is that
Hey,
I can commit to both as the business doing very well and they dont need me.I dont mind not doing a job in a bank (such as investment banking) to go to my dad’s office.However,if you say MBA is not useful,I’m fine with not doing that but I would atleast want to do CFA has there is commitment(such as I dont have to go to university everyday,I can make time and study at home) doing CFA would help me make investments.I spoke to my father and he said that I should do MBA and CFA as both will help me in running the business and doing CFA will make me not depend on others to help me make investments.But he asked me to do a job for atleast a year before entering the family business so that I am serious about it and dont take the business for granted.
you cant get a good mba without exp. your choices as of right now is limited to teh cfa exams. from the cfa program, you can get a job, if you work 4 yrs and pass exams you can get charter. or you can get a good mba once you have a couple years exp, then get another job. or you could just work the family biz. but imo, there is a lot of pitfalls in that industry and things can easily go sour.
prolly better that you diversify your family business excess cash to the stock market or real estate. you should always figure a way to extract as much cash from your business while increasing your personal net worth then diversifying your net worth. if the business goes south, then although the businesss dies. you still have all your assets in your personal acct.
anyways there is an interesting story right now, abotu this guy who si inherting control over this auto maker. his plan is to merge with anotehr co, get really big, then sell his stock in order to diversify to other industries. hes a big fan of buffett. link below. now the co is actually looking pretty solid and cheap right now but its also really cyclical and they had problems during hte great recession. lots of institutional managers that are good at stock picking have taken up positions as the stock is undervalued. so its interesting how it all plays out.
https://www.wsj.com/articles/fiats-talks-with-renault-propelled-by-shifts-in-leadership-11559003921
“you cant get a good mba without exp”
I know two guys who went straight to Harvard MBA from undergrad. One had a really good transcript, and the other was the son of a business tycoon in some country. So, it is not impossible in general. For the guy in this thread though, probably it is impossible.
Unless you mean Harvard is no good lately, which to be honest, I don’t know, especially when comparing it to CFA, Indian CA, eating live snakes, or top 50 student in Uttar Pradesh.
^yep thats what i meant.
possible but rare. in my class, some chick actually did udnergrad and mba at same time. anyways looking at median class profile can help you see what you need.
anyways i know a guy in the wholesale textile bus. he made a ton of money when the going was good. i think his networth is prolly between 5m to 15m as he has a bh home and a few commercial props and lotsa nice cars. but when shit went sour. he had a ton in invetory and was selling them dirt cheap to his competitors. i think he bankrupted the business. but kept excess cash for himself and invested in real estate. he would restructure those loans before the business collapse on the heavy debt burden.
bitcoin’s dad did the same thing as well with the porn shops, he didnt lever up the business though, so the porn shops still goign strong but with less than half of peak sales.
anyways its a common strat. ppl issuing debt to pay dividends or sahreholder buybacks. thats why corporate bonds are shit. private equity does same thing. buy a co, improve performance. lever the shit. distribute money to itself. sell the co through ipo. then co may or may not go bust.
I think what Nerdy is saying is that you need to work a few years in the porn industry as a fallback in case things go south.
I realize what you’re saying Ohai, but times are different now and those two kids made that move to HBS like 40 years ago. Also for the life of me, I can’t rationalize why someone would go straight through to MBA. Without a little experience you’re not substantially altering your pool of current opportunities and robbing yourself of the future optionality/break an MBA a few years in to your career offers. I mean, you could argue you had a technical specialization and want to diversify, but that’s what double majors are for. Seems weird.
Anyhow, for JitenK, you can always just do CFA now and explore what MBA opportunities are available to you.
Thats really smart,I’ll think about it
undergrad and mba at the same time must be really difficult, Mark Cuban did the same thing but he went straight for Masters
My parents networth also is in the 15m and they have invested a good amount in real estate,but they are not investing since the past 2 years as they are waiting for the crash so they can invest big,and thank god my parents arent in any debt or dont even want to they find it too scary.But what scares me is that their investments arent diversified and they only invest in real estate and fixed deposits, I want them to try new investment methods but they dont listen.My dad got a offer to join private banking but he declined as private banking was too complicated apparently, you see what I mean they arent interested in trying new things that would give them a good return.
I dont understand,should I work and then do mba then join family business.or do mba now along with cfa and join family business?
My dad has asked me to work outside for atleast 1 year ,so that im serious about my work and dont take the family business for granted
you cant get good mba without experience?
What do you mean by good MBA?
I’m gonna work but not for more than 1 year,as I really want to get into the family business.
The question is that is CFA AND MBA worth the knowledge if I will join the family business.