MBA’S LOSING OUT TO
AHMEDABAD: Chartered accountants, the nuts-and-bolts professionals in the world of finance, are scoring brownie points over suave MBA finance
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Graduates as India Inc gets increasingly risk-averse in a post-slowdown environment.
Companies are focusing more on risk-compliance than pursuing ambitious targets as they recover from an 18-month economic downturn, paving the way for recruitment of more CAs, perceived to have core competence in financial matters.
Thus, CAs are currently being accepted as business leaders who could take up roles beyond auditing and financial management. While MBAs are being hired for purely sales, marketing or international trade functions, CAs are increasingly being looked upon as decision-makers.
“They are superior (to MBAs). CAs are already groomed for three years during articleship (training with auditors) and can start working from day one,” says a finance official at a top Indian company who did not wish to be named.
Further, with Corporate India getting cautious with salaries, CAs are gaining a natural edge. “If a company is unable to afford an MBA from a top B-School, it would rather hire a top CA than look for a management graduate from lower-rung B-schools,” says a global headhunter. A chartered accountant’s average salary is at Rs 6 lakh a month, while for MBAs, the figure is the minimum, says Nagesh Pinge, chief internal auditor at Tata Motors, who sees a growing preference for CAs when companies need better financial control. Loyalty also tilts the balance in their favour. MBAs, due to peer pressure, appear to constantly pursue higher salaries. CAs, on the other hand, are seen as less aspirational and stick to the job longer.
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