jasontang

In the US, you usually go directly to PHD from Bachelor. Masters are usually rewarded for those who cannot get the PHD. Most people would MBA if they don't want to be an acdemic.

In the UK, Masters may be a Master by Research or a Master by course work. Master by course working is MBA-like course. Unlike MBA,Master of Finance(course work) is more specialised in an area rather than the general management. CFA is far more comhensive than any of the Master by course work.

Master by Research is a one-year research thesis. You are working on a research project under a supervisor. The outcome should be a publicatin - getting your work published by an acdemic journal. Master by Research is one step towards PhD. That's research focused. It wouln'd help you a lot unless you want to spend the rest of your life in a college.

So, do CFA if you want to get a finance job. Do PhD if you want to do financial research and teaching.

US. Bachelor -> PhD

UK. Bachelor -> Master or Bachelor with Honours -> PhD

Or US. and UK. Bachelor -> find a job -> CFA