Many business school programs integrate CFA Institute program curriculum—but what schools offer this option, and what can you expect from them? Peter Watkins of the CFA explains
Mon Apr 26 2021
In this Applicant Question, Peter Watkins, director for university relations in the Europe Middle East and Africa region at CFA Institute, explains how you can study CFA curriculum at business school alongside an MBA or Master of Finance.
Throughout its 60 year history, universities and business schools have integrated CFA Program topics into relevant degrees like the MBA of Master of Finance.
Today more than 650 universities in over 70 countries around the world have joined the CFA Institute University Affiliation Program (UAP), and this direct link to the world’s leading professional body for investment professionals goes to show the real-world relevance of their programs.
What is the University Affiliation Program?
The UAP recognizes the strongest degree programs available in your region that cover at least 70% of topics in the CFA Program. Postgraduate programs that are part of the UAP include Master in Management (MiM), Master of Finance, and MBA degrees.
Among the list of UAP degrees is the MiM degree at ESCP, the MBA in Finance at CEIBS, the MBA program at Cornell, and both the MBA and Master of Finance programs at INSEAD.
With UAPs in more than 300 cities and global regions there is sure to be a great CFA-integrated degree program near you. Check CFA Institute's website for UAP listings.
Many of the longest established and highest ranked schools are part of the UAP network, including London Business School, Oxford and Cambridge Universities in the UK, New York University, Cornell University and Toronto University in North America, National University of Singapore, and Melbourne University in Australia.
However, many excellent more recently established programs are also affiliated.
Notable CFA Affiliated Universities
Whichever program you choose, remember there is a lot to learn—and choosing a degree that is aligned to CFA topics is an excellent way to boost career opportunities and gain confidence tackling the CFA Program itself.
Amongst other benefits, affiliated universities can also award CFA scholarships to deserving students.
What will I study?
Affiliated programs cover the core content of the CFA Program—written specifically by practitioners for practitioners working in the investment industry.
Traditional topics include investment tools, such as quantitative methods, economics and financial reporting; the characteristics and valuation of the main asset classes; portfolio management and wealth planning. In short, all you need to launch your finance career.
But fascinating newer topics are quickly gaining importance in the industry and are increasingly reflected in CFA Institute and university finance programs. Expect to learn about artificial intelligence, machine learning, and sustainable investment for a positive impact on the world. All good finance programs also explore the ethical context of investment practice.
Should I sit CFA exams during my degree program? You can if you wish to.
Some UAPs fully embed the CFA Program into the degree and all students take CFA exams. Others leave it optional. Often students sit CFA exams soon after completing bachelor or master degrees, following some focused exam preparation.
Previously, undergraduate students could not sit CFA Level one until the end of their degree program.
However, from 2021 the exams are more flexibly delivered by computer allowing undergraduates to take CFA Level one in August before their final year.
You may prefer to head for the beach this summer! But for those focused on grabbing a career head-start, and perhaps disappointed by summer internship options, getting CFA Level one under your belt before graduation is a sure way to impress recruiters.
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I liked being able to meet so many different people from all over the country and the world, and Cornell has always been welcoming to me since the day I arrived in freshman year. Cornell's community is very supportive; students are encouraged to work together to solve problems and really support one another in every situation, and professors are always willing to assist students in need.
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I spent time training abroad at Cornell University (Ivy League University), Ithaca, USA, working on a project entitled “Characteristics of Packaging films made from whey proteins”, under an ‘International Student Exchange Program’. Although I was simply enrolled in an undergraduate program, I took a keen interest in undertaking a challenging food science research project, which demonstrated my independent thinking at an early stage. I worked on the feasibility of preparing edible packaging films using whey protein isolates. I demonstrated scientific and analytical skills in carrying out the experimental work, while working in a research laboratory. In a very short time span (6 months), I was able to demonstrate my experimental, interpretation and analysis skills. As a result, my research work was accepted for presentation in the annual meeting of the Institute of Food Technologists, Dallas, Texas in the year 2000.I demonstrated intellectual/problem solving/management judgements and good communication skills. It was stated that the work was carried out with “great care, paying particular attention to detail”. Enjoyable campus landscape.
