Is a Degree Along with a CA More Beneficial Than Just a CA?
Chartered Accountancy (CA) is a prestigious and valuable qualification that can open doors to a multitude of career opportunities. Many argue that a CA alone is sufficient to secure a good job with a decent salary package. However, others argue that combining a degree, such as a Bachelor of Business Administration (BBA), with CA can provide an additional edge in today's competitive job market. In this article, we will explore the various advantages and disadvantages of each approach and whether it is beneficial to pursue both a degree and a CA.
Advantages of Having a CA Only
Those who advocate for pursuing a CA alone point out that it is enough to land a good job with a respectable salary package. Career progression from thereon mainly depends on one's performance and dedication. As mentioned by the article, a CA can be employed in various fields, such as auditing, tax consultation, and financial management. Further to the same, individuals with a CA qualification can progress within the same employment without needing to gain additional qualifications.
The article also notes that the current job market is highly competitive, with many participants showcasing varied skills. Therefore, having a CA along with a basic graduation degree like BBA can help distinguish you from others, as it meets the common qualification requirements for many jobs. This is also why many Chartered Accountants choose to pursue additional qualifications such as CPA, CFA, IFRS, and FRM, or even more advanced fields like Actuarial Science.
Advantages of Having a Degree Along with a CA
Moreover, it is recommended to obtain a BBA alongside a CA, especially if it does not require much time and effort to complete. This combination can offer several advantages:
Further Qualifications
A BBA degree can be useful for further qualifications such as foreign CPA or MBA. Having a degree can also enhance your eligibility for these qualifications, making it easier for you to pursue advanced degrees in the future.
Mandatory Degree Requirements
Companies in certain regions may have a mandatory degree requirement, and a BBA degree can help you meet these requirements. While it is not as stringent as a CA, it adds a layer of professionalism and credibility to your resume.
International Points and Credentials
In some cases, your BBA degree can help you get better equivalency credentials abroad, especially for visa and immigration purposes. This can be particularly valuable if you plan to work or live in a different country after gaining your CA qualification.
Multinational companies often value candidates who have both a professional qualification like CA and a relevant academic degree. This combination can give you an edge in the job market and help you stand out among other candidates. Furthermore, a BBA degree can enhance your application for overseas placements where a CA qualification is often not sufficient by itself.
Conclusion
To summarize, whether a CA alone or a combination of a degree and a CA is a better choice depends on your specific career goals and personal preferences. A CA is a good career option whether you are employed or practicing. It only gets better from there if you do choose to pursue further education. However, in highly competitive job markets, having both a CA and a degree can provide an additional edge and greater flexibility in your career progression.