Investment Banking Course vs CFA vs MBA: Which Should You Do First?

Aspiring bankers often wonder whether to take a specialist investment banking course, pursue the CFA or enrol in an MBA. They are different tools, and the right order depends on your goal and timeline.

The investment banking course

What it gives you: applied skills in modelling, valuation, M&A and LBO, with interview and placement preparation. Time and cost: usually shorter and less expensive than the alternatives. Best for: getting job-ready quickly for analyst roles.

The CFA programme

What it gives you: a respected credential in investment analysis, portfolio management, ethics and financial reporting. Time and cost: multiple exam levels spread over a longer period. Best for: equity research, asset management and investment roles. It is less deal-focused than a banking course.

The MBA

What it gives you: broad management education, networking and structured recruitment, especially from top schools. Time and cost: the longest and most expensive of the three. Best for: career acceleration and switching, with strong campus placement from top institutes.

How they compare

Speed to job-ready skills: investment banking course is usually fastest.
Credential value: CFA and MBA carry strong brand recognition.
Deal and modelling depth: strongest in a dedicated investment banking course.
Networking: strongest in an MBA.

Which should you do first?

If you want a quick start in analyst roles: begin with an investment banking course.
If you aim for investment research or asset management: consider the CFA, possibly alongside modelling training.
If you want a long-term leadership pivot and can access a good school: the MBA may help, and an investment banking course beforehand can strengthen your profile.

Combining them

These routes work well together. Many professionals start with practical modelling skills, gain experience and add a CFA or MBA later as their career develops.