CA vs MBA – Know all about MBA vs CA which is better in 2020-21
CA vs MBA – Looking at the competitiveness of today’s environment, no one can ignore the importance of having a professional degree. On one hand, we have professional courses like CA, CS and on the other side of the coin, we have a postgraduate degree like MBA having its own benefit label. It is imperative for candidates to see themselves in a state of dilemma.
Today, in this article, You will get clear cut details on what CA and MBA is, course structure, scope, career path, salary package and much more. Chartered accountancy commonly known as CA is a professional course having international recognition.
Whereas MBA is a two years postgraduate degree that opens a gateway for candidates to an abundance of job opportunities. The final decision i.e. CA vs MBA, however, lies with the candidate and must be taken with due diligence.
CA vs MBA – Qualification
Once you know what CA and MBA basically are! Next step for you to know is the CA vs MBA eligibility criteria. Below mentioned eligibility criteria can be checked by candidates if they are planning to either the take-up CA profession or pursue MBA course degree.
|Eligibility||Chartered Accountant (CA)||Master’s in Business Administration (MBA)|
|Bachelor’s Degree||Not Mandatory||Mandatory|
|Exam conducting body||ICAI i.e. Institute of Chartered Accountants of India||No Single Body|
|Levels/Semesters||Three Levels i.e. CPT, IPCC, CA-Final||Four Semesters|
|Job Aspect||Chartered Accountant, Auditor, Finance Manager etc.,||Manager, Team Leader, Human Resource Head,|
What is CA or Chartered Accountancy Course?
Chartered Accountancy is an international and professionally recognized course. In India, CA course is conducted by ICAI i.e. Institute of Chartered Accountants of India. A person who qualifies Chartered Accountancy course is known as CA. To be recognized as CA, candidates need to appear for CPT (Common Proficiency Test) after clearing 10+2. If any candidate does not wish to give the CPT level, then he or she can register themselves for IPCC on condition that they have a graduation degree. Keeping in mind the track record of passing candidates in CA course, it is always advisable to candidates to have at least a graduation degree.
Main Objective of CA Course – To provide exposure to the Financial and Accounting sector.
What is an MBA or Master in Business Administration?
Master’s in Business Administration commonly called as an MBA is a postgraduate degree that is widely recognized all over the world. Candidates having an MBA degree are open to vast opportunities. Bachelor’s degree from any background like Science/Humanities/Commerce etc., is acceptable to pursue an MBA course. To take admission in MBA courses, many National, State and University exams are conducted like CAT, MAT, XAT, CMAT, MAH CET, SNAP, GGSIPU etc., MBA course has multiple specializations whereas CA course focuses only on the financial aspect.
Duration of CA vs MBA:
|CA Course||MBA Course|
|Duration of Exam||Four years (only if candidates clear in the first attempt)||Two-year degree programme|
Scope and Job Prospects after the CA Course
Although many professional and diploma courses have emerged in recent times, yet the importance of CA courses can not be overlooked. A well qualified CA is in demand in all industries. As a CA, an individual can work with the government/ public undertaking or private sector companies as well. If one does not wish to work under someone, then CA has the option to practice individually. Check out how to become a CA in India to know complete details.
Job Prospects After CA Course
- Auditing firms, Taxation
- Management Consultancy Services
- Practising Individually
- Corporate law
Scope and Job Prospects after MBA Course
Apart from the high salary package, a person having MBA degree will have uplifted career opportunities. The importance of having an MBA degree can not be neglected. MBA can be a part-time MBA or full-time MBA or distance MBA course. Candidates having MBA degrees are demanded in every industry. If you wish to know more about what an MBA is all about, check all about MBA course.
Job Prospects After MBA Course
- Advanced Growth in Career
- Uplifted Work Values
- Innovative Attitude
- Time Management
- Contemporary Vision
- Inflated in Job Opportunities
- Investment Banking
How to Enroll? CA vs MBA
|CA||To enrol for CPT, HSC qualification will help candidates to enrol themselves for CA Course.To enrol directly in IPCC, graduation is a must.|
|MBA||Top B-Schools provide admission candidates only on the basis of management tests like CAT, MAT, XAT, SNAP, BMAT, ATMA etc.,While most B-Schools in India require Bachelor’s degree to enrol candidates for the two year MBA programme.|
Skills Set Required for CA vs MBA
After becoming a CA, candidates must possess the following skillset-
- Lucid approach of Accounting and Auditing
- Excellent communication
- Knowledge of socioeconomic conditions
An MBA graduate is expected to possess the following skillset-
- Adept knowledge
- Pressure handling
- Strategic decision making
- Leadership qualities
Salary Package: CA vs MBA
Money is what people crave for in today’s competitive environment. No doubt about the fact that it is important for survival. Both CA and MBA have their own advantages in terms of money. A Qualified CA can get an average starting salary of 5-8 Lakhs for annum. However, the top financial companies like Deloitte, E & Y etc., may offer more than 20 lakhs to a well qualified Chartered Accountant professional. Whereas for MBA graduates, the average salary offered in top B-Schools may range from 12-15 lakhs per annum.
Which is Better? CA vs MBA
Without a second thought, we can say that both CA vs MBA drives your career to a new level. Henceforth, it is moderate to be confused as to which is more suitable and will help to achieve what a candidate desires for. The differences between CA vs MBA are given below:
Major Differences between CA vs MBA:
|Investment||Economical. The overall money invested in a CA certification is less as compared to MBA degree.||Highly expensive if you are planning to do it from Top B-Schools like IIMs, XLRI etc.,|
|Pass %||Out of 100, only 3-5% candidates are able to qualify and get certified as CA.||90-95% candidates who opt for MBA course end up getting good jobs.|
|Career options||Few. For a qualified CA, ample options are not available to a CA||Wider options are available.|
|Exposure||3 years Articleship||Few months internship ranging from 3-6 months|
|Difficulty Level||Extremely difficult to crack||80% of candidates crack the exam and pass|
If one wants to pursue CA he has to think in advance. Whereas an MBA course can add additional values to the existing professions. Nowadays, even executive MBA courses for working professionals are also available.