Is CA better than MBA?

There has always been a debate on which is a better course, CA or MBA. Shiskha.com gives you a lowdown on which one to pick and why.

There has been an ongoing debate on whether to choose Chartered Accountancy (CA) or Master of Business Administration (MBA) to set the base for a successful career path. While the two are a different area of expertise altogether, the two are one of the common career paths chosen by those who study Commerce during higher secondary. For those who want to study Chartered Accountancy, can begin soon after completing school whereas MBA is a course you can study only after completing your graduation.

To make it more clear for the aspirants, lets take a look at both the streams from a professional point of view:

CA Vs MBA

Profession	Chartered Accountant	Business Administrator
Certification	The CA course and exams are governed by the ICAI - Institute of Cost Accountants of India	There are a number of IIMs and private colleges that offer different MBA specializations in India
Levels of examination	Level 1- CPT exam Level 2-  IPCC exam Level 3- Final exam	MBA is a two-year course followed by an internship programme
Duration of the exam	The duration of the exam is for four years, provided the candidate clears the exam in the first attempt	MBA is a two-year degree programme
Exam schedule	Exams are conducted twice a year for Level-I and Level-II exams	Exams are conducted once a year and the date of the examination is fixed by the board of study
Subjects covered	CA focuses on financial accounting, audit, finance ethics and regulations, etc.	The main focus is on economics and accounting along with the candidate’s preferred specialisation
Passing probability	The pass percentage is less compared with other competitive examinations	The pass percentage is pretty decent
Fees structure	The registration and examination fee is fixed by the institute for different levels	The fees depend on the institute that offers the course. In IIMs the average course fee is between Rs 20-22 LPA
Job roles	Chartered accountant, finance manager, auditor, portfolio manager, etc.	Managers, team leads
Job functions	Accounting, risk management, investment management, management accounting, and internal auditing	Leading the team of subordinates. Take leading managerial decisions.

Which is better: A career in management or accounting?

Based on knowledge acquisition: Among various job and education forums, it has been unanimously said that the CAs are comparatively more knowledgeable than MBAs given the in-depth subject knowledge they have in corporate laws, taxation policies and accounting principles. There may be many MBAs in an organization to lead the different functionalities of the business, but it is the CAs who intrude into the core finance of the business and leads it in a positive direction.

Job prospects and scope: There are hundreds of colleges in India that offer an MBA degree, the supply of these graduates are in surplus than their demand and we can say that the field has got saturated long back. CAs, on the other hand, is only in lakh, they are versatile and are constantly in demand in the country. While MBAs manage a business, CAs forecast the future of business and align it in a positive direction.

Remuneration: There cannot be a single Chartered Accountancy professional who has been unemployed. And these professionals also command attractive salaries and incentives. The average salary of a CA in India is between Rs 7-10 lakh. Top rankers in CA command a higher salary as they are employed in top companies. As far as MBAs are concerned, their salary package depends on their employer. Those who graduate from top IIMs command a salary of Rs 18-22 LPA, but the same is not true for those graduates who pass out from Tier-II and Tier-III colleges.

When we have to compare between CA and MBA and discuss on which is a better course, we have to understand that MBA is a postgraduate qualification whereas CA is a professional degree that can be completed directly after completing class XII. Both of these courses are distinct in their own ways, but it is easy to get an MBA in India but not a CA certification. These professionals are also rare to find and are one of the highest-paid professionals in the country. Some graduates prefer to complete CA and MBA together to climb the ladder of success pretty faster.