Does having credentials like CFA, FRM or actuarial increase your chances of getting into top MBA colleges?

Yes, it increases your chances but it is not necessary. So, why do CFA or FRM? These are courses for individuals interested in specific fields. CFA (Chartered Financial Analyst) is for the ones who want to go in money/asset management. Those interested in equity research and analysis finds this course interesting. FRM (Financial Risk Management) is for those interested in risk management of various investments. So pursue these courses only if you want to go into that particular field and are genuinely interested. CFA takes almost one year for each level. There are three such levels. Only having level one will not help much for your career. During the interviews for admission it will surely sow your interest in finance as such. For CFA you need to put in lots of hours of study, so if you are not interested don't do it. Most of the students entering IIMs don't have a CFA. So it is okay not to have such certifications. Just go through the portions of the exam and see if you are interested.

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Being a management graduate from one of the top 10 B-School, I can safely say that CFA/FRM and any other course is not needed to get admission into any B-School. These certifications only help you gain the credentials of getting into top-flight finance profiles in top organisations. CFA/FRM are globally renowned certifications and a lot of investment banks give preference to candidates who have done one or both of these. So, getting shortlists during summer and final placements become easier with these certifications. Also, a candidate needs to be thorough with questions related to these as the expectations from recruiters tend to increase too. As far as getting into top B-Schools is concerned, it is dependent on the overall performance in the written test and the subsequent GDPI process. These certifications may/may not augment your chances but there is no stated requirement as such by any B-School.

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I will start my answer with this amazing quote "Life is long, whatever you learn never go for waste"- Haji Attah Ullah (Freedom Fighter). Yes, having credentials like CFA, FRM or actuarial increase your chances of getting into top MBA colleges. How? When you are interviewed by the premier education institutions they look at your resume and see what you have achieved in your life and how much experienced you are and how you can contribute to society. There, your credentials and extracurricular experience speak for you and you will be having more chances of getting selected than a fresher. Remember, you need to qualify entrance exams like CAT to get into any of the best MBA colleges in India without which your credentials will also be deemed futile. Best of luck.

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