Anisotropic quantum nanostructures have attracted a lot of attention due to their unique properties and a range of potential applications. Magnetic circular dichroism (MCD) spectra of semiconductor CdSe/ZnS Quantum Rods and CdSe/CdS Dot-in-Rods have been studied. Positions of four electronic transitions were determined by data fitting. MCD spectra were analyzed in the A and B terms, which characterize the splitting and mixing of states. Effective values of A and B terms were determined for each transition. A relatively high value of the B term is noted, which is most likely associated with the anisotropy of quantum rods.