Friday, May 26, 2006
CFA Vs MBA
Following is an article published in 2004. It still gives a very simple but important perspective to assist you in your decision.
Best of Luck.
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CFA Vs. MBA, which is best for you?
- by Chad Sandstedt, CFA - December 13, 2004
It's a question asked by nearly every aspiring finance professional at one time or another -- is my time (and money) best spent pursuing the Chartered Financial Analyst designation or a Masters in Business Administration? There's no question that both are valuable credentials, each are capable of delivering higher salaries and better advancement prospects. However, the answer to this question depends on many factors, including your professional goals, background and resources, both in terms of time and money.
What do you want to be when you grow up?
One obvious difference between the CFA program and an MBA program is the breadth of the curriculum. A good analogy is that the curriculum of the CFA program is a foot wide and a mile deep while the curriculum of MBA programs are a mile wide and a foot deep.
If you plan on working in finance, the CFA program will provide a wealth of knowledge. However, if your career path veers out of finance, the chances that you'll be able to utilize the curriculum are limited. In contrast, an MBA program is likely to provide exposure across numerous fields of study that can be applied in almost any position, whether in finance or not. As such, potential CFA candidates are advised to step back and assess their commitment to a career in finance.
For those who are working in another field and view the CFA program as a way to break into a finance career, it may be more appropriate to first obtain a position in the field, even if it's at an entry level, to assess your commitment to a finance career before beginning the CFA program.
What's the Price of Admission?
One of the most popular motivations for enrolling in the CFA program or an MBA program is to create new career opportunities. Today, many finance jobs require either a CFA designation or an MBA. What's the cost to become qualified for these positions? While there are no exact numbers for either the CFA program or an MBA program, we can make a few assumptions that will apply to many aspiring professionals.
First, let's look at the cost of the CFA program. Our first assumption is that it takes, on average, four exams to complete all three levels of the CFA program. Enrollment and registration fees for four exams will cost $1,815 with early registration. The cost of preparation materials can vary widely between CFA candidates. At the low end of the price range is the purchase of study notes and textbooks. Realistically, many candidates require additional preparation such as study seminars, software, online programs, audio programs, video programs or flashcards. The cost of such a comprehensive study plan could be an additional $2,000 per year. Given our relatively aggressive assumption that all three exams will be successfully completed in four attempts, we will assume a fairly aggressive study plan with $1,000 of study material per year, for a total of $4,000 over four years. Therefore, the total cost of obtaining the CFA designation, including registration fees and test preparation materials, would be $5,815.
The cost of an MBA can range dramatically, from a part-time program at a state university to a full-time program at an Ivy League school, the costs may range from $20,000 on the low end to over $100,000 on the high end.
In summary, the cost of obtaining an MBA will range from four to twenty times the cost of the CFA program.
What's Your Time Horizon?
In the previous section we listed an assumption that it will take the average CFA candidate four exams to complete all three levels of the CFA program. Up until December 2003, all three levels of the CFA exam were administered just once per year. In December 2003, the Level I CFA exam was available to be taken twice per year. If a CFA candidate takes the Level I exam in December, the Level II exam the following June, and the Level III exam one year later, it would take approximately two years if you assume that studying for the Level I exam begins in June. While this is certainly an achievable task and there are people who accomplish this, it's becoming very difficult to do with lower pass rates and more demanding careers that allow less study time to prepare for each exam. Since we assume it will take four attempts to pass all three levels of the CFA program, we will assume these four exams will be completed in three years.
In contrast, most full-time MBA programs can be completed in two years. This is perhaps the biggest advantage of pursuing an MBA compared to the CFA designation, because it's likely to qualify you for a better paying job about a year earlier than the CFA program will. If you're able to increase your compensation by $30,000 with an MBA, you will be making $30,000 more than you will be making in the CFA program for an entire year.
I've developed a spreadsheet that computes the net present value of both the CFA program and an MBA program. For illustration, here's a hypothetical scenario with the following assumptions:
Current Salary: $60,000
Cost of Capital: 5%
Time to Complete CFA Program: 3 Years
Annual Cost of CFA Program: $1,938
Projected Salary Post-CFA Program: $100,000
Time to Complete MBA Program: 2 Years
Annual Cost of MBA Program: $35,000
Projected Salary Post-MBA Program: $100,000
Based on these assumptions, the Net Present Value ("NPV") of the CFA program is $204,394 while the NPV of the MBA program is $177,884. This means that, based on these assumptions, the CFA program is a better investment than an MBA program. However, a change in assumptions can change the answer. If you expect an MBA to deliver a higher salary than you expect after attaining your CFA charter, the answer may be very different. We've made this spreadsheet available so that you can use your own assumptions and see what alternative has the most value for you.
Self- Study vs. The Classroom?
Perhaps the biggest difference between the CFA program and an MBA is the learning format. The CFA exam is essentially a self-study program that allows candidates to move at their own pace and study as their schedule permits. There are no classes to attend unless you choose to sign up for a review course (for a list of review courses, visit our test prep directory). There are no pop quizzes or progress exams, rather there is the equivalent of one big "final exam" for each level where you must be ready to apply everything you've studied.
The CFA Institute does provide a recommended study timeline that can be used to gauge your progress as you approach the exam date. However, it's up to you to keep up and there will be nobody holding you to the schedule, so self-discipline is important particularly given the quantity of material covered at each level. A great number of very smart people have failed the CFA exam simply because they procrastinated and were unable to catch up.
In contrast, a traditional MBA program has a great deal of structure since it's classroom based. Each class typically consists of several quizzes and exams so it's easy to tell when you fall behind. The learning format in an MBA program is also more likely to be lecture-based, whereas the learning format for the CFA program is text-based.
So, What's Best for Me?
For those individuals who are committed to a career in finance, the CFA program offers a unique opportunity to learn while you work. Very few professions have access to comparable opportunities to earn a renowned designation through self-study at a relatively low cost. However, if you're relatively uncertain about a career in finance, an MBA may be a better choice since it applies to other fields.
In summary, there is no one-size-fits-all approach to continuing your education. Each individual brings a unique background with a unique set of goals. As such, it's important to assess your own situation to determine which opportunity is right for you before you make a significant investment of time and money.
Contact PM Office - NO RESERVATIONS.
WRITE TO INDIAN PRIME MINISTER HERE
its never late... we don't know whether comments at the above site will make any impact or not but as said in Shri Bhagvad Gita -
"To action alone hast thou a right and never at all to its fruits"
So if you feel then just do it...!
its never late... we don't know whether comments at the above site will make any impact or not but as said in Shri Bhagvad Gita -
"To action alone hast thou a right and never at all to its fruits"
So if you feel then just do it...!
Wednesday, May 17, 2006
DA VINCI CODE QUEST
Hi there,
last few weeks, like many others - i was also swiped by the da vinci code bug. google and sony came up with a unique promotion method - online puzzle solving. that also for continous 24 days for 1st round!! one puzzle daily. well i completed all puzzle myself except one answer (holy water) .... but on final day it boiled down to luck... as first 10,000 to complete successfully wins a cryptex and qualify to the second round... and as luck would be - i wasn't among the chosen one though i completed the final day puzzle within 17 minutes...
now i am currently on another quest of similar kind and this one is being sponsored by eurostar . as of now i have completed the first two round and waiting for 3rd round. lets see whether i am second time lucky or not!
there is another competition is going on at CNN IBN for Indian Residents.
So you see how much the Da Vinci Code has taken time of our daily routine... First the book and now all this online quest... i am amazed with through details in the story. i have also read the angels and demons and that too have detailed explanation and association of symbols.
last few weeks, like many others - i was also swiped by the da vinci code bug. google and sony came up with a unique promotion method - online puzzle solving. that also for continous 24 days for 1st round!! one puzzle daily. well i completed all puzzle myself except one answer (holy water) .... but on final day it boiled down to luck... as first 10,000 to complete successfully wins a cryptex and qualify to the second round... and as luck would be - i wasn't among the chosen one though i completed the final day puzzle within 17 minutes...
now i am currently on another quest of similar kind and this one is being sponsored by eurostar . as of now i have completed the first two round and waiting for 3rd round. lets see whether i am second time lucky or not!
there is another competition is going on at CNN IBN for Indian Residents.
So you see how much the Da Vinci Code has taken time of our daily routine... First the book and now all this online quest... i am amazed with through details in the story. i have also read the angels and demons and that too have detailed explanation and association of symbols.
My India on Internet. :)
India is a country of a hundred nations...
India is the land of dreams and romance... the one land all desire to see." Mark Twain wrote after his world tour, echoing the sentiments of many travellers before and after his time.
India A land of fascinating festivals, timeless traditions and majestic moments. India is unique, and so is the music - filled with change, grandeur and many surprises. Truly, it is a gateway into the world of Mystic India!
Perhaps the greatest truth India can illuminate for the billions who live on this planet is the cherished belief that there can be unity in diversity, that we share the same sky, walk the same earth, breathe the same air... that we are a single human family.
Check out these videos on India.
NATIONAL ANTHEM AND NATIONAL SONG
1. Vande Matram by Lata Mangeshkar
2. National Anthem of India
A Balanced View of India on ABC NEWS
.
.
A Old Video on UNITY ON DIVERSITY
Kathakali Dance of Cochin
Magnificient Taj Mahal
Mystic India.
Visit the following blog for an INDIA TOUR. All the journals have detailed description and amazing photographs of the place .
SE Asia Tour of Stephen and Claudia on Travel Blog begins in India, India
Thanks to every one.
-Abhi
Note : The above videos are from www.youtube.com. I thank everybody who have shared these videos on the internet. Also, many more videos on incredible india are available on www.video.google.com.
India is the land of dreams and romance... the one land all desire to see." Mark Twain wrote after his world tour, echoing the sentiments of many travellers before and after his time.
India A land of fascinating festivals, timeless traditions and majestic moments. India is unique, and so is the music - filled with change, grandeur and many surprises. Truly, it is a gateway into the world of Mystic India!
Perhaps the greatest truth India can illuminate for the billions who live on this planet is the cherished belief that there can be unity in diversity, that we share the same sky, walk the same earth, breathe the same air... that we are a single human family.
Check out these videos on India.
NATIONAL ANTHEM AND NATIONAL SONG
1. Vande Matram by Lata Mangeshkar
2. National Anthem of India
A Balanced View of India on ABC NEWS
.
.
A Old Video on UNITY ON DIVERSITY
Kathakali Dance of Cochin
Magnificient Taj Mahal
Mystic India.
Visit the following blog for an INDIA TOUR. All the journals have detailed description and amazing photographs of the place .
SE Asia Tour of Stephen and Claudia on Travel Blog begins in India, India
Thanks to every one.
-Abhi
Note : The above videos are from www.youtube.com. I thank everybody who have shared these videos on the internet. Also, many more videos on incredible india are available on www.video.google.com.
Tuesday, May 09, 2006
Carpal Tunnel Syndrome
What Is Carpal Tunnel Syndrome?
At the base of the palm is a tight canal or “tunnel” through which tendons and nerves must pass on their way from the forearm to the hand and fingers. The nerve that passes through this narrow tunnel to reach the hand is called the Median Nerve. This narrow passage between the forearm and hand is what we call “The Carpal Tunnel”.
The Carpal Tunnel is normally quite snug and there is just barely enough room in it for the tendons and nerves that have to pass through it. If anything takes up extra room in the canal, things become too tight and the nerve in the canal becomes constricted or “pinched”. This pinching of the nerve causes numbness and tingling in the area of the hand that the nerve travels to. The condition that results when the Median Nerve is being pinched in The Carpal Tunnel is commonly referred to as Carpal Tunnel Syndrome or “CTS”.
Symptoms
- Painful tingling or numbness in hand during the night, that is sometimes painful enough to disturb sleep.
- The feeling of swollen fingers when they are not.
- Tingling may develop during the day in the thumb, index, and ring fingers.
- Decreased ability to squeeze things.
- Some people with Carpal Tunnel Syndrome are unable to differentiate hot from cold by touch with their fingers.
- Have trouble tying their shoes or picking up small objects.
- Sometimes you feel a pain that goes up the arm to as high as the shoulder.
- Your doctor may also ask you to wear a splint on your wrist.
A common test for CTS is Phalen's Maneuver.
Put the backs of your hands together while keeping your arms parallel to the floor and your fingers pointing down. Hold your hands together firmly. If within a minute, you experience one, or a combination, of the symptoms, you probably have the disorder. Don't hold this position for more than the required minute.
Treatment
- Prop up your arm with pillows when you lie down.
- Avoid using your hand too much.
- Find a new way to use your hand by using a different tool.
- Try to use the other hand more often.
- Avoid bending your wrists down for long periods.
- Surgery is a last resort.
Prevention
- Maintain an average weight.
- Try not to bend, extend or twist your hands continually for long periods.
- Don't work with your arms too close or too far from your body.
- Don't rest your wrists on hard surfaces for long periods.
- Switch hands during work tasks.
- Make sure your tools aren't too big for your hands.
- Take regular breaks from repeated hand movements to give your hands and wrists time to rest.
- Don't sit or stand in the same position all day.
- If you use a keyboard a lot, adjust the height of your chair so that your forearms are level with your keyboard and you don't have to flex your wrists to type.
At the base of the palm is a tight canal or “tunnel” through which tendons and nerves must pass on their way from the forearm to the hand and fingers. The nerve that passes through this narrow tunnel to reach the hand is called the Median Nerve. This narrow passage between the forearm and hand is what we call “The Carpal Tunnel”.
The Carpal Tunnel is normally quite snug and there is just barely enough room in it for the tendons and nerves that have to pass through it. If anything takes up extra room in the canal, things become too tight and the nerve in the canal becomes constricted or “pinched”. This pinching of the nerve causes numbness and tingling in the area of the hand that the nerve travels to. The condition that results when the Median Nerve is being pinched in The Carpal Tunnel is commonly referred to as Carpal Tunnel Syndrome or “CTS”.
Symptoms
- Painful tingling or numbness in hand during the night, that is sometimes painful enough to disturb sleep.
- The feeling of swollen fingers when they are not.
- Tingling may develop during the day in the thumb, index, and ring fingers.
- Decreased ability to squeeze things.
- Some people with Carpal Tunnel Syndrome are unable to differentiate hot from cold by touch with their fingers.
- Have trouble tying their shoes or picking up small objects.
- Sometimes you feel a pain that goes up the arm to as high as the shoulder.
- Your doctor may also ask you to wear a splint on your wrist.
A common test for CTS is Phalen's Maneuver.
Put the backs of your hands together while keeping your arms parallel to the floor and your fingers pointing down. Hold your hands together firmly. If within a minute, you experience one, or a combination, of the symptoms, you probably have the disorder. Don't hold this position for more than the required minute.
Treatment
- Prop up your arm with pillows when you lie down.
- Avoid using your hand too much.
- Find a new way to use your hand by using a different tool.
- Try to use the other hand more often.
- Avoid bending your wrists down for long periods.
- Surgery is a last resort.
Prevention
- Maintain an average weight.
- Try not to bend, extend or twist your hands continually for long periods.
- Don't work with your arms too close or too far from your body.
- Don't rest your wrists on hard surfaces for long periods.
- Switch hands during work tasks.
- Make sure your tools aren't too big for your hands.
- Take regular breaks from repeated hand movements to give your hands and wrists time to rest.
- Don't sit or stand in the same position all day.
- If you use a keyboard a lot, adjust the height of your chair so that your forearms are level with your keyboard and you don't have to flex your wrists to type.
Monday, May 08, 2006
Similar Minds.
Nice link.
http://similarminds.com/othertests.html
Try it out for fun.
My Results-
Movie:
Person:
http://similarminds.com/othertests.html
Try it out for fun.
My Results-
Movie:
Person:
Saturday, May 06, 2006
India Voting Rules - 49'O
Recd this info thru mail. tried searching on net but not much findings in first few pages.... anyway, i decided to put the info on my blog... i wish this info is true and (if needed) people use it more and more....
************************************
People…
Please take some time to read this entire mail. You will definitely feel its worth.
Hope some of you have already got this mail and got to know about the 49’O..
It says :
“In a particular constituency, if a voter has dislike to all of the candidates competing there,
Then he can show his dislike to all of them by registering for 49’O.
Steps for doing this :
1. while registering the name by the time of voting, convey the booth officials that “I want to go for 49’O”.
2. Register your signature in the 49’O form available there.
Done.
Now, if the number of 49’O count is larger than that of the winning candidates total vote count, then a re-election is called there.
More than all, the shameful fact is,
This 49’O is available ever since 1960, but it is in no way conveyed to the people.
Neither the government communicate this, nor did the election commission.
As long as the people are unaware of this one, the political parties are enjoying by winning the election and ditching our country.
To stop this disaster to continue further, we don’t need to take a sword and fight against the government.
Just help every citizen to know that they have such a powerful weapon which can be used for ensuring their welfare.
None of the media will be ready to publish this 49’O.
Let us do this by ourselves.
Communicate this information with all your family, friends, neighbors as much as you can and let them know their right.
Please send this mail to everyone you know and request them to spread it across to everyone.
Convey this information to as many people you know.
************************************
People…
Please take some time to read this entire mail. You will definitely feel its worth.
Hope some of you have already got this mail and got to know about the 49’O..
It says :
“In a particular constituency, if a voter has dislike to all of the candidates competing there,
Then he can show his dislike to all of them by registering for 49’O.
Steps for doing this :
1. while registering the name by the time of voting, convey the booth officials that “I want to go for 49’O”.
2. Register your signature in the 49’O form available there.
Done.
Now, if the number of 49’O count is larger than that of the winning candidates total vote count, then a re-election is called there.
More than all, the shameful fact is,
This 49’O is available ever since 1960, but it is in no way conveyed to the people.
Neither the government communicate this, nor did the election commission.
As long as the people are unaware of this one, the political parties are enjoying by winning the election and ditching our country.
To stop this disaster to continue further, we don’t need to take a sword and fight against the government.
Just help every citizen to know that they have such a powerful weapon which can be used for ensuring their welfare.
None of the media will be ready to publish this 49’O.
Let us do this by ourselves.
Communicate this information with all your family, friends, neighbors as much as you can and let them know their right.
Please send this mail to everyone you know and request them to spread it across to everyone.
Convey this information to as many people you know.
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