To study or NOT to study

Hello World,

I haven’t been writing for a long time now. The reason is, I have been busy thinking about my career/life and work lately. When I have some free time, I try to look into my goals and see what am I really missing and discovering more options for the things that matter to me the most.

Anyways, I have been thinking about pursuing further education, Why? Mmm I feel like I still have lot to learn. In this fast paced world, you have never learnt enough. I did my Bachelors in Business from University of Toronto and then completed my Canadian Securities Course (CSC) and am now thinking about MBA or CFA. They are not an easy certification or designation and are quite different from each other.

Let me explain:

MBA stands for Masters in Business Administration and CFA stands for Chartered Financial Analyst.  MBA is completed at a University (after writing a GMAT exam, and University accepts depending on GMAT score and past experience). Here, you can study either full-time (1 or 2 years) or part-time (31/2 yrs). On the other hand, CFA has three levels which you can complete at your own pace (sort of like self-study). First level can be written either June or December, second and third levels can only be written in June.

I switched my job role about 2 months ago and I see most of the people in the department have achieved their CFA or MBA designation. They really motivate and encourage me to learn further, in order to move up the corporate ladder. So lets talk about the cost,  MBA tuition is really high at well known Universities like Rotmans and Schulich and those are the only school I would study MBA. Please find an approximate tuition below:

Canadian MBA schools, listed in alphabetical order, whose tuition for domestic students fall under the national average (tuition is in parentheses):

• Brock University ($14,000)
• Cape Breton University ($18,080)
• Carleton University ($6,394.08)
• Dalhousie University ($6,750-$10,500)
• Desautels Faculty of Management at McGill University ($6,414.96-$12,381.60)
• John Molson School of Business at Concordia University ($5,233-$10,425.90)
• HEC Montreal ($4,300-10,500)
• Kenneth Levene Graduate School of Business at University of Regina ($10,000-$12,000)
• Lakehead University ($8,500-$11,500)
• Lansbridge University ($14,000)
• Laurentian University ($12,000)
• Lethbridge University ($10,509.75)
• Memorial University of Newfoundland ($4,398)
• Odette School of Business at University of Windsor ($7,476)
• Royal Military College ($12,000-$24,000)
• Ryerson University ($10,500)
• Schulich School Business at York University ($18,900)
• Sobey School of Business at Saint Mary’s University ($13,182)
• University of New Brunswick at Fredericton ($14,120)
• University of New Brunswick at Saint John ($18,000)
• University of Ottawa ($16,552.53)

 Canadian MBA schools, listed in alphabetical order, whose tuition for domestic students meet the national average (tuition is in parentheses):

• Asper School of Business at University of Manitoba ($22,000)
• DeGroote School of Business at McMaster University ($20,989-$21,369)
• First Nations University ($21,000)
• University of Alberta ($22,000)
• University of Saskatchewan ($23,950)
• Wilfrid Laurier University ($20,000)

Canadian MBA schools, listed in alphabetical order, whose tuition for domestic students exceed the national average (tuition is in parentheses):

• Athabasca University ($40,425)
• College of Management and Economics at Guelph University ($24,000-$38,500)
• Haskayne School of Business at University of Calgary ($24,540)
• Joesph L. Rotman School of Business at University of Toronto ($56,450)
• Vancouver Island University ($23,026.38)
• Richard Ivey School of Business at the University of Western Ontario ($56,000)
• Royal Roads University ($33,700)
• Sauder School of Business at University of British Columbia ($36,000)
• Segal Graduate School of Business at Simon Fraser University ($27,000-$47,500)
• Queen’s University ($55,000-$58,000)
• University of Victoria ($27,750)

(Source: http://www.canadian-universities.net/MBA/MBA_Tuition_Canada.html)

The cost of the Rotman Executive MBA program, including all tuition and course fees, is approximately  $89,000CAD.  (Source: http://emba.rotman.utoronto.ca/admissions/)

As per CFA, it seems affordable:

June 2012 Exam (Levels I,II, and III). All fees are in U.S. dollars.

Item	by 21 September	by 15 February	by 14 march
Program Enrollment (new Level I only)	$420	$420	$505
Exam Registration	$650	$745	$1,005
Curriculum Print version	$20 shipping	$20 shipping	$20 shipping
Total	$1,090‡Register now	$1,185‡	$1,530‡

(Source: http://www.cfainstitute.org/cfaprogram/process/fees/Pages/index.aspx)

 

So if we multiply 1090 by 3 levels, it should cost $3270. Mmmm…might be more affordable right now…

 

Now, time for the important question, WHAT DO I WANT TO DO??? What do I want to do?

 

In my opinion I want to do both. So which one would be beneficial now? And the answer is, drum rolls please and its CFA. This definitely relates to my line of work and will be beneficial to be in present and future. So if I do it, I will be able to apply it to my current work.

After lots of brainstorming, I have decided to write my first level this June 2012. So wish me luck!

My opinions on the future housing market…

Housing Market is dependent on the following factors:

1. Interest Rate – Bank of Montreal raised its variable mortgage rate last Tuesday, followed by RBC, which did the same earlier in the day citing higher borrowing costs.
2. Housing affordability in Canada is doing great due to low interest rate. I believe end of 2012, either of two things will happen: the housing market will slow down significantly or will depreciate slowly. There is a chance that BOC will raise its interest rates, and then the housing prices will decrease. If it doesn’t, the housing market will depreciate slowly. I am glad I am in Toronto, because I believeVancouver’s housing market is the most stressed city in Canada and will face the highest risk if the housing market starts depreciating.
3. Household Income growth is dependent on Unemployment rate – As per Stats Can, Unemployment rate was declining, then stable two months ago, and is better this month primarily due to summer students working from May to August which eventually go back to school in September.
4. Market condition – Worsening since U.S.and European growth prospects are the primary issue, not only because of their direct impact on global GDP, but also because of the implications for other advanced and emerging economies.
5. Other factors: Gold plunged in New York, heading for the biggest drop in 18 months, on speculation that financial markets may be stabilizing.
6. Other factors: First-time buyers are decreasing due to tightening policy (i.e. borrowing rules) in 2011 and therefore trying to purchase now before it gets even tighter. This is probably one of the reasons; housing market is still doing great.
7. Just as things go up, it also goes down. The future prices will always remain uncertain, but according to my research, my assumption is, housing market will depreciate slowly by end of next year.

Keep in mind, this is just my opinion.

Ramadan begins…

Ramadan (Ramazan/Ramadhan) is the ninth month in the Islamic Calendar. Muslim considers this as one of the holiest months in Islam. In this month, Muslims fast from sunrise to sunset. This year fasting began on August 1^st and will last for about 29-30 days depending on the moon sighting. I would rate myself 7 out of 10 in terms of religion, which is not bad when you are in the mid-twenties. One of my goals is to be religious and be a good Muslim.

I started last week but I felt really drowsy and sleepy at work, plus my concentration was down and could not complete work. Then a burning sensation started few days ago but it was hurtful yesterday so I decided to take a break from fasting. I went to Shoppers and the pharmacist recommended few medicines so I chose Pepcid and Probiotics  and has been feeling quite well today. So if you ever have some acidity try this medicine because it worked.

My point is, if you are not feeling well, or pregnant, or diabetics or whatever the medical reason maybe, you are not forced to fast, you can compensate in other ways i.e. keep a count of the ones you missed and make up for it after OR timultiply by $3.50 (a daily rate set by Mosques every year) and give out for charity. So if I ended up missing 5, I can give out $17.50 in charity to compensate.

I am not trying to promote anything but Islam is pretty straight forward, and of course I am not an expert but advising through my experience. So all the people who are fasting, wish you all the best!