From what I have seen across various website, coaching classes and seminars of CA and CA students, I feel many of them have some bias for CAs and see MBAs and other professionals as people who have no class in front of us. I don’t want to comment upon the right and wrong of it, but its not only IIMs, one can have a look at other institutes like SCMHRD, MDI, XLRI, NMIMS, S.P Jain, Welingkars, JBIMS, FMS, Xaviers etc as well and you will find that they all achieve 100% placements in the recession times and far better profiles and packages than anyone on ICAI campus and CA community. The minimum packages of some of these institutes are equivalent to the highest packages at ICAI campus. So, you may like to rethink about CA vs MBA.
Regarding other professions, I would appeal to all of you to remember that CA is a good profession, but it doesn’t mean that it’s the best one and all other professions are bull sh*t and the people out there are nothing in front of us.
The reality is the other way round. Remember, that finance department is a compliance department and not revenue generating one (exceptions being audit firms). So, leaving aside the banks and audit firms, if you see in manufacturing entities, IT sector, Telecom, Auto, Entertainment, Media, Airlines etc – in all these sectors, the maximum top paid executives would be those who are in a revenue generating role (Marketing, HR, Product Development, Quality assurance etc) and not CAs because CAs are in compliance departments doing book keeping/taxation work. And it’s very obvious to understand and accept the fact that people in revenue generating roles (Jobs of technical nature, Marketing, Sales, Strategy & Operations etc) would always earn more than those who are in non-revenue generating roles (CAs, CS, Lawyers) in job market. Book Keeping function, filing of returns etc does not give any revenue to the company so it is not a revenue generating job althought it might be important and compulsory.
Off course, CAs or anyone else can be an entrepreneur and the highest paid executive as well. So, we may probably have a finance director and/or CFO as one of the top paid executive in all companies. And rest of the people would be surely being non finance people, especially from Marketing, HR, and the technical profiles.
This brings me to the conclusion that other professions are as lucrative and exciting as finance is and that other qualifications are as great as CA is. CA is the best profession for a career in accounting, auditing and taxation primarily because of the undue powers given by the government to ICAI.
To see the value of CAs see - /forum/message_display.asp?group_id=48993