How to do MBA after CA
Answers
After so much sweat and blood devoted for CA, why do you want to study further? You will definitely land a job that will pay you decently.
Do you really need to go further to pursue an extra degree?
May be not immediately, but those of you who are happily working and looking for an appraisal, do you want to do something productive that can boost your career?
You have a plethora of options in front of you.
How about an MBA?
Is it really worth doing an MBA post CA?
Any CA looking for options to take a step further in the professional world might have found themselves at this juncture.
Before we look at the very many advantages offered, have a look at the whole scenario objectively. A CA is a CA whether he/she clears the exam in the first attempt or after few more of them. Similarly, an MBA is an MBA whenever you do it. Or, is it not so?
When should one pursue the course to be done is a matter of choices made wisely. Here are the three most important questions that should be addressed properly.
When to do it?
As a freshly qualified CA, you have the option of taking up an MBA course which would be right in the early stages of your career. This has the advantage of adding a valuable degree to your kit so you can explore the versatile career options available at later in point of time.
On the flip side, most universities and B-schools require applicants with minimum work experience along with good scores. In such a situation we have to admit that CA’s with a few years of experience behind them have a wider scope to choose and enter the college of their choice. If you opt for MBA soon after CA, you definitely take away the learning but to reap the benefits of an MBA program, work experience plays a major role. As you spend time at the workplace for few years, you tend to be more clear and specific about your career goals. This helps you define your path and apply for the program that is suitable for your needs.
Same applies when one chooses a university for admission. So, the whole idea is about doing MBA from an institution that would help you stand out of the crowd. Pursuing an MBA just for the sake of it should be a big NO! So, do not go for just any collition to your profile. Consider the following colleges for reference:
London School of Business
MIT Sloan
Wharton,University of Pennsylvania
Booth School of Business, University of Chicago
Kellogg, Northwestern University
INSEAD
Stern, NYU
International MBAs are expensive and unlike Masters’ programmes, scholarships and fee waivers for MBA programmes are far and few between
You are going to be competing with an international pool of students
IIM Ahmedabad
IIM Bangalore
IIM Kolkata
IIM Kozhikode
IIM Indore
How does one address this concern? Well some research should go into this for sure. However, the major difference lies in the fact that a one year MBA course is a tightly packed one while the two-year MBA course lets you breathe through during intervals.
An advantage that two-year MBA offers is that it gives time for you to take up internships which is otherwise quite remote an opportunity in case of a one-year MBA program. If time is on your side, go for the two year MBA program to expand your horizon.
Let’s now look at the reasons that would urge you to do an MBA:
you can gain technical specialization. As a CA is already considered as one of high repute, he has the advantage of getting preference to clinch a position in premier institutes to pursue MBA. This combination helps boost your profile.
The Chartered Accountancy course lets you have some in depth knowledge of the numbers and how they have been derived. You learn to assess the impact of an amount or a transaction on all other accounts and the financial statements. Here, what you miss to understand is the impact that these numbers have on the overall business performance.An MBA broadens your thinking process and gives you that perspective of divergent thinking.
Moving up the management chain:
It is easier to get a job post CA. However, to move into a senior management positions like CEO / or Business head you need to have an understanding of other areas like marketing, HR and more importantly team and people management. An MBA from a reputed university / college can help you build that perspective. The solid knowledge of a CA combined with the smartness of an MBA can help one become a chief financial officer (CFO) or a chief executive officer (CEO) few years down the line.
Improves confidence:
Recruiters look for your prior education and very importantly they look at how well you fit the role in the organization. An MBA helps you prove your worth to the recruiter by being good at expressing your strengths and weaknesses. You get time to spend with like-minded people which puts us in the right atmosphere.
So,set your priorities and plan for this dual degree so you can reach great heights. All the Best!
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