I am still an undergrad, and from my expreience from talking to professors and other individuals, its wayy better to get an MBA from a recognized institution. That's because an MBA is broad and covers a lot of ground. CFA exams test you on your accounting and financial skills whcih one will forget once you start a job. An MBA gives exposure to a wide variety of fields each of them which have a fiancial relationship to it. I would reccomend an MBA. CFA is tough and is good for analyst positions within an investment bank. MBA provides access to managerial positions within the same firm. I'd rather be an associate or a manager rather trhan start over from an analyst position all over again.