Master of Business Administration is one of the most popular programmes in the modern world, but it’s now obvious the program’s market value has dipped to worrying levels. The once marketable course has been leapfrogged by CFA, a course every employer would want their employers to pursue.
Over 10 years ago, MBA was a hot cake among business professionals. Everyone wanted to own this certificate.Unfortunately,the average, the academic dwarfs and the confused lot joined the bandwagon. Within no time, the program was rendered almost useless. Nowadays you can’t scare even the dumpiest employer than you possess MBA, employers know more facts about the program than their employees.
In Kenya, for instance, 6 out of 10 MBA holders are jobless. Most of these people joined MBA class with the aim of improving their professional profile, but since MBA is currently even junior to CPA, employers don’t pay attention to the former. It has even reached a time where MBA holders are forced to pluck off MBA qualification from their CVs in order to increase their chances of securing employment.
Now, since employers are not enthusiastic about MBA, which course do they prefer?
If you are a business graduate, the best alternative to MBA is CFA.Long time ago, employers realized that competency is found among CFA graduates. Since then, they gave MBA graduates a wide berth. It’s now in the knowledge of graduates that employers in the financial sector, even manufacturing and government institutions, have a soft spot for CFA holders. Statistics show that not a single CFA holder is jobless.
One of the stumbling blocks for students is the fee required to pursue CFA.You realize that it needs over $3000 to attain certification. But that aside, once you satisfied the examiners, you won’t struggle to find footing-employers would come for you. One beautiful thing I like about CFA is that the job seeker dictates what he wants to earn.
More importantly,CFA is only friendly to competent individuals. This means that few can manage to pass the three mandatory levels for certification. Due to this bitter truth, many graduates find it unfriendly, hence a desire to pursue MBA,which is a soft spot. This scenario has led to oversupply of MBA graduates and under-supply of CFA holders. The end result, a useless MBA and extremely useful CFA.
