Comparison between MBA and CA
Understanding that each of these programs may help you launch a successful career in their unique ways will help you determine which is a better choice a CA or an MBA. Getting an MBA from a Tier II or Tier III institution may be more straightforward, but acquiring one from an Ivy League college is just as challenging as getting a CA license.
As a result, graduates of the top of these professional programs typically earn among the highest salaries in the nation. Therefore, the correct response to “which is better” is whatever meets your professional goals.
Is MBA Better Than CA? Let’s Compare Them:
Following CA certification, a candidate may approach financial accounting and auditing methodically, develop strong communication skills, and learn more about the socioeconomic environment. On the other hand, an MBA graduate develops strategic thinking, pressure-handling skills, leadership traits, and expert business knowledge.
A prospective student who has earned their HSC diploma or post-diploma is qualified to enrol in the CA program. So, the training is open to a broad spectrum of applicants. Additionally, there are situations where students simultaneously study CA and a graduate course.
However, a bachelor’s degree must be earned before applying for an MBA. Therefore, although it is not required, a candidate with some job experience will benefit more from an MBA degree.
Candidates for the CA certification must pass three levels of exams and complete three years of articles under a licensed CA. If the candidate passes all the levels on the first try, the entire course can be finished in four years. In contrast, depending on the degree program or business school chosen, enrolled candidates can complete a full-time MBA program in 1 to 2 years.
Accounting and finance-related courses dominate the CA course curriculum. Financial Reporting, Financial Account Management, Accounting, Economics, Mercantile Law, Business Law and Ethics, Taxation and Tax Laws, Auditing, etc., are the subjects that a prospective CA candidate must study.
The curriculum for an MBA, however, includes academic and practical business topics. Financial management, financial planning, risk analysis, operations management, human resource management, marketing research, and other issues are studied by prospective MBA candidates.
Career Prospects and Pay:
A CA may work as an internal auditor, public accountant, government accountant, tax manager, finance manager, or financial consultant, among other positions. An MBA graduate, however, may readily fit into the mid-management positions of any firm. At the beginning of their careers, most CAs and MBAs make an average salary of between $10,000 and $15,000 per year, while the top CA rankers and Ivy League grads may expect to make up to $30,000 per year or more.
A CA course costs many times more than an MBA degree. A degree in accounting from a reputable business school may cost more than $20,000, but a CA course costs between $900 and $1,000. However, choosing between a CA course and an MBA degree shouldn’t be based only on cost.
Availability of Exams
The dates for the January/February 2022 CA exams have been announced by ICAI, and they will begin on January 21, 2022. On the other side, there are several MBA entry tests, including the CAT, MAT, SNAP, XAT, MAH CET, etc. Each exam has a window that typically runs from November through January.
The CA examinations are incredibly challenging, and some students still fail despite several tries. On the other hand, applicants who enrol in MBA programs always succeed in the examinations.
Knowing your strengths, hobbies, and the direction you want to take in your career will help you decide whether to pursue an MBA or a CA. I believe the information above will enable you to do so. Very best wishes:-)