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How do these programs compare to the CFA?

So is it more advantageous to apply for grad programs after working full time relative to doing a masters of finance? I think there's a few problems here, first of all I think some grad programs you can only apply for if you are currently studying. Secondly do you think some firms might be...

Would a MFin help you in applying for graduate programs at IBs? Would it give you an advantage over undergrad applicants for the same position?