After completion of CA, while most of us struggle with the decision to go ahead with a job or practice, quite a few of us want to pursue further studies because let's face it, most top executives in Companies have more than one advanced degree.
If you, like me, intend to pursue further studies, you yourself must be a little confused as to what to pursue, through this article, I will try to throw some lights on the two main options available for Chartered Accountants for further studies, namely, CFA and MBA.
I am presently a CFA Level 3 candidate and have secured an admit to MDI, Gurgaon, and am contemplating if I should go ahead with MDI or go for GMAT and apply to the top B-Schools in the world.
CFA:
1. Arguably the toughest and most comprehensive financial course in the world.
2. Comprises of 3 levels, Level 1 conducted in June and December and the other 2 levels are conducted in June.
3. The passing percentage ranges between 40-55% (I know right? must be a cakewalk for us Chartered Accountants, but we need to understand that the passing marks are close to 70% and the people who appear for the exam are much more prepared than CA students because they are already graduates working in the finance field).
4. Total fees can be anywhere between 2 to 3 lakhs.
5. You should pursue CFA if you intend to enter Investment Banking(however, most large Investment Banks prefer an MBA from a top institute over a CFA) or pursue a Stock Market career.
MBA:
1. MBA is the most recognized degree in the world depending on the college you pursue.
2. It ranges from 1 to 2 years depending on the college you attend.
3. Personally, I would suggest that if you are a CA, do not even think of pursuing an MBA from any college that is not a top 10 college.
4. An MBA from a top college in. finance can help you break into the highest paying Investment Banking jobs.
5. You will have to appear for either CAT or GMAT exam since these are the most widely accepted exams.
6. Total fees would usually range from 20 lakhs to 1 Crore (for foreign MBAs).
In my next article, I would like to throw some light on the differences between an Indian MBA and a foreign MBA, till then, adios.
The author is working with Stratvisors, based out of New Delhi as Lead-Business Advisory and has previously worked in Mergers and Acquisitions with EY and PwC.
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