MBA After CA The 4 Reasons Why You should consider obtaining an MBA
MBA after CA? All makes sense.
Let’s face the facts. It’s not easy to be a CA in India. Anyone can enrol in the CA program. However, just 1% of graduates graduate. It’s no surprise that CA is a highly sought-after qualification. Does it make sense to pursue an MBA after putting in all the work required to become a CA?
The answer might not be yes for many chartered accounting professionals who work, live, dream, and love audit and accounts. For those looking to explore other professions but who want to pursue other careers, an MBA following CA might be the best way to get there. So the answer is a resounding yes to the second group.
4 reasons to consider an MBA
Reason 1 is that growth doesn’t have to be limited.
Chartered Accounting (or Chartered Accounting) is a highly specialized job. You’re an expert in accounting, taxation and auditing.
These skills are essential to allow you to build and maintain your career with the four biggest audit companies. However, you will soon be able to climb further up the ladder into other sectors.
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You will need to be a generalist to ensure your career is profitable in different industries. You have to convince them to shed the label of the super-specialist. It is possible to earn an MBA degree from the best business colleges.
What can an MBA at Management Colleges In Pune help you become a generalist?
The MBA curriculum will ensure that you can get a grasp of the many aspects of managing the business.
Every good MBA degree will contain the core subjects of Finance, Marketing, Personnel Management, Operations, and Management of technology. It’s not just the subjects – but how they are taught can make significant differences. A B school offers the pedagogy of case studies and presentations, term papers, project work, and discussions led by faculty.
This system lets you learn as much from your colleagues as you do from the school’s pedagogy. Peer learning offers two major benefits. One, it lets you receive more perspectives about a topic from other people with different experiences. Furthermore, These discussions can help you create lasting connections with your peers and are crucial to building your professional networks.
2. Reason 2 – Switching careers Switch
It’s not atypical and is a growing trend among CAs who want to leave audit and accounting. An MBA will help you make that transition.
Financial industry professionals can sense the shift. This includes treasury, financial management, planning and jobs in financial intermediaries, such as funds houses and investment banks. Or, you might move completely away from finance. If you’ve got fewer years of experience in the field after CA then you might be able to move into HR, marketing or any other function.
You need to get on board the MBA bus if you wish to switch jobs, sectors or even all three.
3. An exciting career outside of India
There is a chance that you are not interested in changing jobs. You might still be interested in a career outside India. Indian CA is extremely useful in India. It is widely known in other areas such as the Middle East or Africa. The Indian CA isn’t available in every part of North America or Europe.
You could do something similar to the equivalent of a CA in these areas and then decide at moving to these places. Another option is using the chance to relocate to a different country to expand your professional horizons and obtain an MBA at the top business schools in the country.
It’s possible to subdivide what is taught at the business school into four main categories. They include Finance & Economics Marketing Personnel & HR and Tech & Quant.
You’ve completed the required Finance preparation as part of the challenging CA prep. This means that you have completed around 25% of an MBA course. This is a huge advantage. It allows you to use the spare time that this benefit gives you to expand your network and increase your career options.
It’s essential to diversify your knowledge sets without sounding paranoid. This can increase your odds of a lucrative career in an era where automation is making a lot of the one-skill jobs obsolete.
There are three points you should be aware of
Some individuals are qualified to become chartered accountants even if they don’t have a B.Com. Most top business schools will need applicants to have 12+3 years of education. In addition, certain schools may require you to have 12+3 years of education. They don’t think of the CA qualification to be a degree.
So, take the corrective actions immediately. To satisfy the minimum requirements required to apply to business schools, you could take the B.Com or M.Com degree through distance education. These are the requirements – prepare well before the time you need to meet them.
Point 2 – Professional Experience Post Qualification
Students who have three to five years of work experience can be admitted to the best MBA programs all over the world. Post-qualification experience is typically considered to be the professional experience. Most schools don’t consider experiences gained through an article clerk as professional experience. They consider it to be a curricular requirement to get the CA qualification.
When you are applying to these schools, I suggest that you write to the schools that you have chosen. This will enable you to know the way they assess your performance as an article clerk. It is best not to apply to schools that do not accept the experience of an article clerk if you do not have the required 3 to 5 years of experience after CA.
Point 3: Plan your GMAT Preparation Meticulously
CAS can take one thing for granted. CAS are skilled at hard work. It is impossible to be a CA without putting in hours of effort and reading through hundreds of books. It’s part of your genetic makeup to put in the effort.
But, I’d be able to highlight a major distinction between the preparation for CA as well as the GMAT. You are a different person now. To prepare for the CA exam, you may have had the opportunity to take one month off from work (invariably from an audit firm) to study for the exam. It’s unlikely you’ll be bestowed such a luxury shortly.
Spend 300+ hours in preparation. It’s difficult to fit one’s GMAT preparation in an overloaded schedule of work and life. Be real. You should plan your GMAT preparation accordingly if you think you can only commit 10 hours a week for GMAT preparation. If you’re able to devote 20 hours a week then you can move ahead according to your timelines. In the end, please take your time and do your math.