MBA after CA is a savior for many accounting students looking for a boost in their career. It is a great way to ensure overall evolution and gives you an upper hand over others. When your peer and colleagues complain about the competitive nature of their field, you would already be a step ahead of them with an MBA after CA looking for a bigger opportunity and a larger pay.
Getting a CA degree is not everyone’s cup of tea. Are all those sleepless nights spent in the pursuit of gaining a CA degree worth it? Maybe not for everone. Being satisfied with your goal of becoming a CA is not enough for some people. CA does not have to the end of education and a beginning of a great career for all.
CA does give you a decent amount of earning and experience but for some, it will become extremely monotonous, and they may feel a lack of growth. Additionally, the degree is specific to the point and prevents you from exploring another sector/field.
Scope of MBA after CA
Here is a list of reasons to do an MBA after CA:
Overall Maturation in the Field of Business
You can become a jack of all trades soon after your MBA as opposed to being tied up as a specialist. MBA opens a wide variety of roles that you can take up. It introduces you to the various sectors of the business industry such as finance, product management, marketing, operations, technology management, HR, operations, etc. It not only gives you a better understanding of the working of the company but also makes you capable of giving better solutions.
Wide Opportunities
Getting out of audit and accounts will be easy and after MBA you can switch your career to finance, marketing, or HR. It will give you space to develop and market yourself better. Also, you will have higher chances of promotion wherever you land. The most beneficial pro of an MBA after CA is that after enough experience, one day, you can open your firm and be a boss to a successful company. Either way, success will pave your path.
Peer Interaction/Networking
CA gives you little to no chance of interaction or even a healthy classroom discussion. Hence you have no opportunity to build contacts. In contrast to an MBA that connects you with diverse people, with a variegated perspective of business. It makes you creative and curious simultaneously and engages you in debates, projects, and presentations.
Personal Growth
Knowledge of everything makes you look bolder and better. And no doubt it boosts your confidence and improves your resume. Leadership skills, teamwork, and decision making would be attained easily post MBA.
MBA after CA- Job Prospects
Becoming an entrepreneur would not even be imaginable for a CA, and is not easy to achieve. There are a few hurdles but the tallest of them is building a network, which is easy if you have attended a top-tier B-school. This gift of MBA along with the abundance of knowledge gives you the perfect formula for success in the competitive Business field.
MBA also opens up a sea of opportunities and positions that you can apply for. It enables easy promotions as most of the companies want CFO, CEO, and business head to have a background of both MBA and CA. As such, there is a handful of CA’s, and post-MBA you will be a gem to whatever company you choose to work for.
In general, you can always opt for jobs like operations manager, finance manager, marketing manager/consultant, HR manager, etc. And slowly move up the management chain.
The Right Time for MBA after CA
Opting for MBA soon after CA may not be a good idea as most top-tier B schools look for a minimum of 2 years of experience and exposure to the work environment. Choosing the best school is of utmost importance because why not? Who would want to spend time, efforts, and money on something average, do not settle for anything but the best. Perhaps an MBA is not as challenging as CA and you should be easily able to crawl into the best B school.
Best Universities for MBA Abroad
MBA after CA is supposed to add weight to your resume and hence the choice of university or B school matters a lot. Going abroad gives you certain advantages like you will have to compete with international students and you get broad exposure but also these schools and universities are far more expensive. You will most probably end up with a job abroad and that will take your career to heights. Consider the following top universities to apply to:
- Harvard university
- INSEAD
- London school of business
- Florida International University, USA
- Stern NYU
Global Business School Ranking in 2020
Best B Schools in India for MBA
However, if you cannot afford a foreign university for MBA after CA, though it is highly recommended you try your level best abroad as any of the Indian institutes cannot compete with the international standards, you can opt for some of the best B schools here.
- IIM Ahmedabad
- FMS Delhi
- IIM Kolkata
- IIM Lucknow
- ISB Hyderabad
- IIM Banglore
Planning out your career and making the right choice is essential to get that growth and development going. Hence if you are an aspirant for MBA you should get going before it’s too late!
Frequently Asked Questions
Q1. Is an MBA a great idea after a CA?
Ans. For many chartered accountants who always thinks about audits and accounts, the answer can be No. However, for those who want to work in fields other than accounting and auditing, an MBA following CA is likely the only way to get there.
Q2. What is the pay of a CA after completing an MBA?
Ans. Job opportunities have enhanced: the average income after CAs varies from Rs. 6,00,000 to Rs. 9,00,000. An MBA from one of the top ten business schools gets an average income of Rs. 20,00,000 to Rs. 22,00,000.
Q3. Who makes more money, the CA or the MBA?
Ans. Top rankers in CA earn greater salaries because they work for top firms. MBAs’ remuneration packages are determined by their company. Those students who qualify graduation from top IIMs earn Rs 18-22 LPA, but this is not the case for those students who complete their graduation from Tier-II or Tier-III institutions.
Q4. Which degree is ideal for a career in CA?
Ans. When combined with CA training, the MBA degree is a complete market in-demand combo. As a result, the MBA is regarded as the ideal degree accompanying CA training for any candidate. You can also select from a variety of specialities. Alongside CA training, a Bachelor of Arts degree can also be obtained.
Q5. Is MBA more difficult than CA?
Ans. A CA education is far more difficult compared to an MBA course. In comparison to CA, the MBA degree is not as difficult. CA training covers topics such as financial accounting and business environment, and also auditing, reporting, taxation, and general administration.
At ForeignAdmits, we understand how important this decision is. We are here to help you every step of the way, from finding the right school to getting admitted and securing scholarships.
ForeignAdmits have a team of experienced counsellors. We can provide you with customized guidance based on your individual needs contact us today to get started. We look forward to helping you achieve your educational and career goals!