MBA or CA – Which is a better career option, the most asked question from a decade. CA and MBA both the courses are the most sought courses by the commerce stream students. Both the courses are reputed, prestigious and highly demanded.
But the question, students often ask is which is better CA or MBA. As nobody wants to play with his career. Every student wants to stand out from the crowd and shine like a sun. Hence, after a deep research, we have prepared this article.
As per the ASSOCHAM Report released in 2016, 93% of MBA’s were found unemployed. Yes, you heard right. Statistics show that only 7% of MBA’s are employed and out of such 7%, most students have completed their MBA studies from Tier – 1 Colleges such as IIM.
But have you ever heard about any CA been unemployed? No!! The reason behind such is CA’s are diamonds and that’s why the total number of Chartered Accountants in our country is less than even such employed MBAs till independence.
Also Read – How to Become CA
CA vs MBA – Which is Better, Let’s Find Out!
#1 Highly Knowledgeable
Undoubtedly, Chartered Accountants are considered highly knowledgeable. They add a value to the organization due to in-depth knowledge of subjects like Accounting, Taxation and Corporate Laws. A CA has to play with numbers and that’s why their demands are fortunately increasing in every sector with the passage of time whether it is Manufacturing or Finance.
You would like to know when Superstar Akshay Kumar was asked about the secret of his success, Akki Replied – It’s because of my Chartered Accountant, As CA conducts my whole business, When your CA is Happy, We all are Happy.”
#2 Single Authorised Body – ICAI
Please do not ask a CA student “From which College you are doing CA”. It hurts them a lot. ICAI is the only authorized body throughout India which conducts the Chartered Accountancy exams and grants this highly respected degree and this is the reason why CA’s are highly respected.
On the other hand, there are a number of institutes that offer an MBA program. Hence, every MBA should not be compared with CA. MBA from Tier – 1 colleges only could be compared with Chartered Accountants.
Therefore, we can conclude MBA is a general degree while CA is special.
#3 Contribution in Nation Building
Chartered Accountants are the partners in Nation Building said by our former president APJ Abdul Kalam.
Chartered Accountants are the only authorized person to audit the Financial Statements of an organization. They pertain to an impressive understanding of Accounting Standards, corporate taxes, and related laws. They are deemed to be responsible for the Financial health of a company. And when a company grows, Nation will itself grow.
#4 Rapid Increasing Scope of CA
As there are hundreds of colleges offering MBA degree, the supply of MBA’s have reached far more than there demand. But CA’s are still in lakhs and due to their versatile personality, in-depth knowledge and hard work their scope is rapidly increasing.
MBA’s are known only to manage the business, but CA has been demanded to work, manage and also forecast the business.
Behind Every Successful Man, There is a Woman,
Behind Every Successful Business, There is a Chartered Accountant
#5 High Salary and Incentives
As we know, that none of CA remain unemployed for long and also they offer an attractive salary and alluring incentives. The stats show the average salary of Chartered Accountants ranges between 7,00,000 to 10,00,000.
Although this is an average package, the bigger companies like TCS, Big 4, Infosys and many International Companies offer higher packages to rankers.
On the other hand, when we talk about MBA’s the average packages of candidates pass out from Tier 1 colleges ranges between 8,00,000 to 12,00,000.
While a higher number of candidates are seen unemployable who passed out from Tier 2 and 3 colleges.
Well, in this article we have discussed why CA is better than MBA. But let me clear you that MBA is a postgraduate qualification while the CA is a professional degree which can be started right after 12th standard.
Also Read: Chartered Accountant Scholarships and Fee Concessions
So, in the today era, instead of going with CA or MBA, we would suggest you do CA and MBA. The best combination which can create a ladder of success without any interruption for you. Hence, get yourself enroll for CA as soon as you get qualify 12th standard and thereafter go for MBA.
Hope you found this article helpful, so stay in tune with us for more such articles and you can drop your queries in the comment section given below.
Want to Start your Chartered Accountant Journey, Read this!
Also, download the CA Intermediate Paper
Download the CA Final Paper with suggested answers.