Wealth  Long term goal and education

BetaBoy

Space Monkey
space monkey
Joined
Dec 21, 2017
Messages
85
Am a business project manager currently making 115k per year, not including my distribution from a trust fund. Considering getting my CMA then masters in finance, then taking the CFA exams to eventually become a CFO for the company I work at. Being a financial manger my pay scale would go up to 131k a year without profit and gain sharing. Worth it? The company said they will pay for my masters.
 

slazenger

Space Monkey
space monkey
Joined
Dec 22, 2017
Messages
35
I would get your CFA designation first as it has the most value of the three qualifications you mentioned. Assuming you get your CFA charter, then getting a masters in finance is somewhat redundant. Not necessarily a waste of time but it doesn't really add much to your CV at the margin alongside a CFA charter. The only reason to get your CMA (I'm guessing you're in the UK or some other Commonwealth nation) is if you want to remain in an accounting-focused position. It's rare for folks to be both a CFA and CMA (or CPA in the US) because they lead down very different paths. I would start with the CFA and then re-evaluate - but the masters in finance seems the least valuable unless you're going to a a top program like Oxford, Cambridge, etc.

I'm not sure what your salary and trust fund distributions have to do with this decision. These seem like arbitrary (and somewhat odd) details to mention.

Just my two cents.
 

BetaBoy

Space Monkey
space monkey
Joined
Dec 21, 2017
Messages
85
Mentioned them because they effect my tax bracket and yeah I’m in the USA.
 

slazenger

Space Monkey
space monkey
Joined
Dec 22, 2017
Messages
35
Ok, so by CMA you mean Certified Management Accountant (US), not Chartered Management Accountant (UK and Commonwealth). Might make sense but I'd still get your CFA designation first. A small consideration is that once you get an accounting designation (CPA for example) some folks start pigeonholing you as a bean counter... which you do not want to be.

I had to make the same decisions years back and my salary and tax bracket were not considerations, so I'm still not following how these play into your decision... but whatever.
 
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