I'm in the investment team. What i mean is if someone is just average, it'll probably be a better bet to do a local MBA IF he has money and assuming he can't get into a world class MBA prog.. rather than struggling to pass and give up his social life for 4-6 years to pass the CFA.

Having said that, like many others have said before, nothing's for sure. Getting a local MBA or CFA doesn't guarantee career success or a front office position, BUT it does elevate one's chances. There are many different routes and it depends on individuals and a bit of luck.

Backoffice or support doesn't require CFA or MBA but it's always good to upgrade oneself. Again, it's up to the individual.

Cheers