Quantitative parametric mapping is becoming increasingly promising for improving the diagnostic quality and reproducibility of structural brain MR images. The variable flip angle technique with FLASH (VFA-FLASH) is a popular technique for mapping the proton-density, T1 and T2*. Recently, the MP2RAGE pulse sequence was developed to map T1 with robustness to RF inhomogeneity. If a multi-echo (bipolar) MP2RAGE is employed, proton-density and T2* can also be mapped simultaneously. In this study we compare the SNR efficiency and accuracy of VFA-FLASH and MP2RAGE for multi-parameter mapping at 3T. Both methods yield comparable T1-to-noise ratios, but VFA-FLASH is superior for PD and T2* mapping.