Choosing a career path after 10+2 isn’t always easy. The current competitive environment presents a wide array of professional course options before students, leaving them utterly confused about which course to pursue and which one would be better in terms of future career prospects.
This blog aims to lighten the confusion for you a little bit by presenting the key differences between two popular choices before students - CA vs MBA. Both are professional courses with their own set of advantages; however, we share some key differences between the two to help you make an informed decision.
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What Is A CA Course?
Before we dive deeper into learning the differences, let us first understand a little more about each of the two courses.
The CA course helps prepare students after class 12 to become professionally certified Chartered Accountants. These are students with a keen interest in the world of accounting, finance, and taxation. After gaining the professional CA certification, the students can join a relevant organization and provide their expertise and specialized services or run their independent practice.
What Is An MBA?
Master of Business Administration or MBA is a postgraduate degree generally offered for 2 years by several renowned universities across India, both online and offline. Students who have completed their undergraduate qualification in any stream are eligible to pursue an MBA program, which is offered in multiple specializations to suit varied academic interests and career aspirations of students.
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CA Vs MBA: Key Objectives
We learned briefly about each of the two courses in the above sections. Let us examine the primary objectives of both these programs in terms of student learning outcomes.
The CA course intends to provide students with a thorough understanding of the finance and accounting sectors in India.
The MBA course, on the other hand, aims to equip students with knowledge from varied domains - Human Resources, International Business, Marketing, and also Finance.
CA Vs MBA: Eligibility Criteria
Let us now look at the key requirements that students must be able to meet before securing admission to both these professional courses.
The CA course can be pursued by students even after completing class 12. The minimum requirement for CA candidates is completion of 10+2 and a Bachelor’s degree is not compulsory for applicants. However, students are required to clear an entrance exam conducted by ICAI.
MBA aspirants, on the contrary, must be able to produce a Bachelor’s degree in any stream - Science, Commerce, or Arts, to be able to apply for an MBA. Upon graduation, they appear for an entrance test conducted by various IIMs.
CA Vs MBA: Program Duration
CA courses are generally four-year-long. This is applicable only in the case where students tend to clear the CA exam on the very first attempt.
MBA degree however is a two-year course offered at the postgraduate level by different universities or Indian Institutes of Management (IIMs).
CA Vs MBA: Top Skills Imparted
CA students are trained in specialized skills that can help them with their future career growth and advancement. Some of the key skills they learn during the duration of the program include effective communication skills, auditing, accounting, and a thorough knowledge of the socio-economic situation in the country.
MBA graduates are equipped with more management and leadership-relevant skills, enabling students to assume such roles in their future organizations.
- Leadership
- Handling pressure effectively
- The larger vision for the organization
- Decision-making ability
- Work ethic and values
- Time management
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CA Vs MBA: Scope
The end goal of pursuing any course is its potential to unlock career avenues for students in the future. Professional courses like CA and MBA are no exception to this rule. Students opt for these professional certifications in the hope of securing a high-paying job opportunity upon course completion.
CA graduates specialize in finance and accounting and hence become eligible to apply for the following job opportunities in India and overseas:
- Corporate law
- Management consultancy services
- Independent Practice
- Taxation and auditing companies
An MBA program, on the contrary, trains students in varied domains, thereby opening a wider scope of career prospects for graduates, such as the ones shared below:
- IT/Operations Manager
- Marketing Consultant/Manager
- Investment Banker
- Financial Advisor
- Administrative Manager
- Human Resource Manager
- Analyst
CA Vs MBA: Salary Prospects
We discussed the various career prospects for these two types of graduates. Here is a mention of what they are likely to earn in the job market once they set foot upon graduation.
A Chartered Accountant is likely to earn anywhere in the range of Rs 2 lakh - Rs 17 lakh per annum. While freshers may earn just about Rs 5 lakh - Rs 8 lakh per annum, a mid-level CA is expected to earn somewhere between Rs 10 lakh - Rs 20 lakh per annum, owing to their increased expertise and specialization in the domain.
MBA graduates may earn proportionate to the area of specialization they choose and work in. For instance, an MBA graduate in Finance is likely to earn Rs 3 lakh - Rs 6 lakh per annum, while an MBA professional in the field of Marketing may earn between Rs 2.3 lakh - Rs 24.3 lakh per annum.
CA Vs MBA In Finance
We learned in the sections above that CA courses deal with specialization in the world of finance. Likewise, if you aspire for a career in the domain with the added skills of management and leadership to be able to assume top managerial roles in the finance industry, an MBA in Finance can be your ideal choice.
While both the courses share specialization in finance as the common link, they differ in the scope of learning they provide. CAs are generally more focused on finance roles within the organization. An MBA holder, on the other hand, has a much wider job scope, with the potential to apply to a variety of job positions, including the top managerial ones.
CA Vs MBA: Which Is Better?
This blog detailed the key differences between the two professional courses, breaking up each into individual criteria and analyzing how one would differ from another in every aspect.
The final call is yours to make though. Both courses are professional certifications with immense potential for future career growth. However, which one you choose to pursue entirely depends on your academic interests and future career objectives.
While CAs stay more narrowly focused on handling the finances, accounting operations, and taxation activities of an organization, MBA graduates have a much higher likelihood of performing well in diverse roles, both in the public and private sector, within India and overseas as well.
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EnrolL Now →Conclusion
Whether you choose a CA or MBA two, Amity Online is ready to offer you both these specialized professional degree programs on its platform, 100% online. This enables the students to study from the comfort of their homes or anywhere else. You can also choose your pace of learning and time of study.
Amity Online offers a large variety of MBA specializations to suit your individual preferences as well as CA courses to help you take the first step toward a successful career.
