Why MBA in finance is better than CA as a career option?

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Published: 21st November 2011
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Admission season is in full swing, with the onset of monsoon. Students are preparing for various exams that can give them a ticket to pursue higher studies in various fields. Chartered Accountancy or C.A. as it is popularly known is considered the highest qualification for a commerce student and it used to be the dream of a bright commerce student to pursue C.A. However, with the changing global trend many commerce students are now opting for MBA in finance as it gives them the opportunity to rise in the corporate hierarchy.

A crucial factor that has lead the commerce students divert their attention, energy and resources away from a reputed professional course like C.A and opting for MBA in finance is long duration. For pursuing C.A, you require a lot of work hard, perseverance and above all long years. It sometimes happens that some people who start to pursue C.A in their twenties and end up finishing it in their thirties. It is highly specialised where the aspirant has to give their 100% efforts and time.MBA is a two years programme and at the end of that you get a placement with some reputed business house.

Moreover, the course is more about the theory and less of practical learning. In corporate world working in real-life scenario matters more than having theoretical knowledge. Thus, they prefer candidate with MBA in finance as these professionals have an experience of working in stimulated situations like summer internships programme, thus have an eagle’s eye view of various business operations.

Doing MBA in finance definitely gives you the benefit of developing an insight into the world of business. As a part of managementprogramme, you will learn about every single aspect of the business management and operations that will you versatility to handle not only the financial matters of the company, but also make you multi-tasking who can handle every matter of business.

Contrary to this while pursuing C.A, you would learn to various monetary like Taxation, International Accounting (GAAP), Internal Audit, -- to name a few. But hardly develop anintuitiveness to deal with the real life financial crisis, due to the lack of practical learning. Thus, you do not develop acumen for planning strategic moves for the company in the time of any monetary crisis. Whereas, anMBA in finance can handle different financial operations and also have acumen and vision that make them brilliant strategists. Thus, many companies hire these professionals.

Above all these after completing your C.A, you can join a company and can climb up in the hierarchy and become a CFO, while an MBA in finance can take to the highest position in the chain of command and you can become a CEO. Thus, in corporate world a management professional have better prospects.

According to ICAI, the percentage of candidates clearing C.As examination is around 15-20%, whereas the number of designations for such qualification in the corporate world is not enough to accommodate everyone. While in companies MBA placement does not pose any problem there are number of designation from executive to managers who work as team to deal with the finances of the company.

The purpose of this article is not to degrade any profession or professional qualification as no profession is insignificant. I cannot imagine a smooth administration of the financial matters without a Chartered Accountant, who files my I.T returns and audit my monetary transactions efficiently. However, the aim is to project the advantages of an educational programme like MBA in financewhich is not seen by many as a means to achieve growth, prestige and of course money.

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