What should I pursue CFA or MBA or CFP? I am confused!

This is another question asked on numerous occasions but I am happy that this was asked.This is a simple question yet no one gave me a good direct answer when I had asked some years back. I hope this post will solve some of your confusion

Career paths :

CFA- This degree is a must in case you want to be in the Investment management industry.CFA in future will be a bench mark and would change from a "good to have" to a "must have" degree. It covers both equities and Fixed Income in extreme depth which you cannot get via a MBA. However CFA program is a self study degree requiring dedication and commitment.

CFA is a low cost and better option compared to MBA specifically for careers in Equity research,Investment/portfolio/asset management (equity and fixed income)

MBA - MBA incase you want to focus on Finance you have to be in the Schools which are "Finance focused" - meaning have great variety of offering in Finance domain. Some schools that are well known for offering a good variety are NYU,Harvard,Wharton,Chicago Booth. MBA .The advantage of an MBA is that the knowledge obtained in the program is valuable in other industries outside of the investment world.

So this is a high cost option but specifically useful for careers in Investment Banking (Remember IB is not Investment management) and Corporate Finance functions (Liability side of balance sheet),planning ,analysis and forecasting.

CFP-The Certified Financial Planner (CFP) designation indicates that you have expertise in developing financial plans for individuals or organisations

Specifically useful for careers in Financial Planning,Insurance, Investment Planning,Tax Planning, Retirement Planning

Again this is just an opinion and you can be a successful Investment management professional without an MBA,CFA or a CFP

I would say with this information you should follow a 6 step approach mentioned below and this can help you.

1) Look at the career options that I have mentioned at the end of each degree
2)Explore the job descriptions of these careers
3)Assess your skills and expertise
4)Evaluate your own utility function
5)Evaluate your personal and professional life requirements
6)Make a decision