Getting a CA degree is not everyone’s cup of tea. It requires full concentration and extreme dedication to emerge as a victor through a series of examinations. While some might be satisfied after becoming a CA, others might not. A CA degree indeed allows a decent amount of earning and experience for some. However, it does not necessarily mean the end of education.
One of the critical disadvantages of CA is that it is only restricted to a specific field, which means you won’t be able to explore other domains while pursuing this degree. This tends to make it extremely monotonous for specific individuals, as they feel a lack of growth. This brings us to the question: Is MBA after CA a good option?
From prominent industrialist Kumar Mangalam Birla, to former HSBC India head Naina Lal Kidwai, the CA and MBA combination has turned out to be a winning deal for many such significant entities, reflecting the potential of two potent concentrations to create a successful career!
CA and MBA together can be a great way to give that much-needed boost to your career. Furthermore, it gives you the upper hand over your competitors as you are likely to be more favored in an interview with these two degrees. It opens doors to larger opportunities and higher compensation packages.
While these advantages suffice to pursue an MBA after CA, let’s dive in to explore diverse other advantages in depth!
Benefits Of Pursuing an MBA After a CA
Here are some of the many reasons why an MBA can turn out to be a good idea after earning a CA degree.
Overall Growth In The Field Of Business
Pursuing an MBA widens your horizon of expertise across different domains of the business world, such as finance, marketing, product management, HR, and operations, among others. You not only get to be aware of all the common challenges haunting the business world but also become capable of giving effective solutions.
Enhance Your Career
During their curriculum, a CA is trained in fields such as taxation, auditing, accounting, and finance. But when you combine an MBA degree with CA, you get to acquire essential marketing skills. With an MBA, candidates comprehend current market demands and are able to present themselves and their skills in an enhanced manner. This also includes technical skills. Furthermore, since CA is considered one of the highest professional degrees, it automatically increases your chances of qualifying for an MBA from a well-reputed institute.
Networking
Networking is one of the most critical skills every aspirant needs to possess, regardless of the industry. While pursuing a CA, there are little to no chances of increasing your horizon of networking or building contacts. Contrary to this, an MBA degree might just be the perfect way to connect with like-minded people of diverse backgrounds. You learn about different cultures and engage in various debates and projects, thus enhancing your communication skills.
Become Your Own Boss
Yet another substantial advantage of pursuing an MBA after CA is that it prepares you with all the necessary leadership skills and business knowledge to become an entrepreneur. Gone are those days when people were satisfied with a 9-5 job. In today’s competitive world, almost everyone wants the freedom to start their own business and witness its huge success over the years. If you are one of them, then CA with MBA will undoubtedly be the right choice for you.
Climbing Up The Management Ladder
A CA degree will definitely get you a high-paying job that comes with lucrative benefits. But suppose you wish to switch to higher management positions such as a Business Head or a CEO. In that case, you need to understand the additional aspects of a business, such as people management, HR, and marketing, among others. This is where an MBA comes in handy. An MBA with CA prepares you with the necessary skill set and knowledge to land your dream job.
Improves Confidence
Last but not least, recruiters are always looking for candidates who do not just have a strong educational background but also possess the essential soft skills that make them the perfect fit for the roles. An MBA helps you to prove your worth to your recruiter by highlighting all your strengths and weaknesses.
Most do not realize that it is not always what you study that has the ultimate impact. The environment where you study or the kind of people you interact with equally play an important role in shaping your personality. Therefore, choosing the right college for your degree is crucial as it helps you become a new individual and boosts your confidence.
The Right Time To Do MBA After CA
The right time to pursue an MBA degree after completing your CA can be a tricky decision for many. As a freshly qualified CA, opting for an MBA right after can be a wise decision since it allows you to explore other versatile careers later in life. By the time your colleagues opt for a different career path, you will already have added an extra valuable degree to your resume.
On the other hand, many universities or business schools require candidates to have a minimum of two years of work experience, alongside good scores, to qualify for their MBA programs. Therefore, as an aspirant, it is up to you to decide.
If you go for an MBA right after CA, you will definitely get to enjoy a practical learning experience. However, to reap the full benefits of an MBA program, work experience is necessary. The more time you spend at your workplace, the more clarity you get about your career goals and interests.
Job Opportunities
Setting up one’s own business is the dream of many. While this might not be achievable with just a CA degree, an additional MBA program can make these dreams come true.
One main reason behind this is networking. For CA’s, networking is not always an easy option since they are never really presented with the opportunity to connect with expert minds from different arenas of business. However, an MBA degree lets you cross all these hurdles, and the additional experience you obtain gives you the perfect formula for success in this highly competitive business market.
Furthermore, an MBA degree also opens the door to a plethora of high management positions ranging from CFO, and CEO, to business leads. Other job opportunities include operations manager, finance manager, or HR manager. All these roles are considered highly valuable and come alongside lucrative benefits.
Conclusion
This brings us to the end of our blog, which explores if an MBA after CA is the right choice for you. We hope our list of benefits and reasonings will enable you to gain clarity on your decision. While all these degrees are indeed essential to give that much-needed boost, it is ultimately your interests and goals that matter in the end.
If you are willing to opt for an MBA degree, there are a few factors that should be taken into consideration. One such includes the choice of your academic institute. Graduates from a top-tier university or business school are always given more importance than those from lesser-known institutes.
On that note, we present to you Golden Gate University’s Master of Business Administration program. Golden Gate University is one of California’s oldest private institutes, boasting 120+ years of experience. Its 15 months duration MBA program comes with numerous benefits such as personalized industry interactions, excellent placement opportunities, and 24*7 student support. The program offers five diverse fields: General, Marketing, Business Analytics, Leadership, and Finance.
Take a step toward your dream with GGU!
FAQs
Q1: Which MBA specialization is the best after CA?
A typical CA course usually covers subjects like accounting, taxation laws, financial account management, and financial reporting. Pursuing an MBA specialization in finance can be a great idea since it is somewhat similar to the role of a CA. The topics included under an MBA in finance include international finance, financial modeling, and investment analysis, to name a few.
Q2: Is MBA easy after CA?
There is no direct answer to whether an MBA is easier than a CA. It might be easier if you opt for an MBA program from Tier-II or Tier-III colleges. However, getting an MBA degree from top-tier colleges, universities, or an Ivy League college is just as difficult as earning a CA certification. That said, the difficulty level depends on the program’s curriculum, format, and duration.
Q3: Which MBA course has the highest salary?
Considering the dynamic business environment, it can be safe to say that MBA in Business Analytics, Entrepreneurship, and Finance offers the highest salaries. The average salary of each of these disciplines can be estimated to be within the range of $70,000-$90,000 per annum.
Source: https://yocket.com/blog/highest-paying-mba-specialization
https://www.linkedin.com/pulse/doing-mba-after-qualifying-chartered-accountant-khyle-singh
