+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=4)
+--- Forum: Students (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=13)
+--- Thread: MBA or CFA, which is the better option ? (/showthread.php?tid=3881)
- Wandering Star - 06-25-2007
There is no reason to be defensive in such regard.
I am neither a member of ACCA, ICAP or ICMA. However I understand there is professional rivalry. (This thing which we call professional rivalry in Pakistan is called 'snobbery' in the UK)
I do however attempt to clear about misconceptions in the profession. A place where one of my friends used to work, there was frequent backstabbing between two mid level managers of separate divisions (both subsidiaries of one parent, but on the same premises), one who was an ACA and another who was an ACMA. Both had the same experience, age group and package level. The problems arose when the ACA thought that he was underpaid and did not deserve the same package as an ACMA. The issue was compounded when the juniors were more willing to work under the ACMA who had overall better personality, while technically both had equal abilities. Eventually, the issue rose to such a level that both were asked to leave the organization.
This is a sad example of when people simply forget that there is a lot more than qualification when it comes to making your stand in professional life. I only try to make it clear these misconceptions to those who are obsessed with qualification oriented culture like that of Pakistan, rather than defend an institute than another.
Thanks for the welcome. Unfortunately I have a very strict work schedule and can only drop by this forum on weekends, however I shall try to be more regular.
- Muhammad Amir - 06-25-2007
Nice to hear that that you will try to be regular here;
I appreciate your level of knowledge and live example of "Rivlary" dear brother people often get offensive when defending I strongly condemn this but what should i do because i also some times get offensive however i try to calm my nerves down and also to defend in professional way however i will learn this by time...
We really need people like you who are also independent so that both sides will take your suggestions and advises independently...
I hope you will now give time to this community because in well stressed schedule this will be your test that how you manage to devote your time to us....
Regards,
Muhammad Amir
- derivativetrader - 06-27-2007
I see qualifications as a passport, which is different from having a visa that is required to do well in your job. Of course, without a passport you wouldn't get a visa but standalone your visa isn't any good if you don't have a passport to get it endorsed..
Cheers,
DT
- Muhammad Amir - 06-29-2007
Dear MFHAR;
I personally fell sorrow that being Hr Consultant you deliberately try to compare two very different qualifications....
However you said lot abuout exemptions of ICAP first i want to clear here one thing that even if ICAP presents no exemptions to ACCA still they can't defeat ACCAs prestige we ACCAs and its students are proud to be a part of world's largest fastest growing accountancy body so we do not need to bother about Exemptions of institutes like ICAP....believe me 90% of ACCA students do not even want to attempt single paper if CA(ICAP)...
Now things have changed quiet rapidly and this lead to strengthen ACCAs place in market....
Employers are now very keen to induct fresh personnel instead of having old fellows who are freshly qualified...
ACCA do not want to have a certificate from you on ACCAs course ACCA is having quiet dynamic structure which change its course in every 7 years circle...
OHHH dear MFHAR who told you that people are dependent on ICAP exemptions??????
And who told you that Local bodies always enjoy monopoly....if this is the case then why ACCA is the major body in IFAC(International federation of Accountants Commitee)when it comes to law making when it comes to standards making when it comes to ammend standards when it comes to quality standards approval.....
Dear i only say that you need to have an open eye observations so that things become quiet clear...
Regards,
Muhammad Amir
- Schuaeb - 06-30-2007
Amir the realities in Pakistan may be different from the situation you have fanticized for your self. And I am sure that the situation will be painfull for you when you will enter market as a qualified person. You know one reason that ofter members restrain to participate in such discussions with you, it is because your view are ofter childish and overloaded with emotions.
If you want to compare ACCA with CA. Look at some real life examples of freshly qualified ACCA and ACA, the prestige and reward they get from the market. You will find all of your answers. And if you choose to prove things on the basis of mere illogical arguments, I am there for you.
By the way what is this ICAWE, pehaps you wanted to say ICAEW. May be this can provide some clarifications as regards professionalism of ACCA students. For your kindest information it ACCA which can be called a subordinate to ICAEW in UK and ICAP in Pakistan.
- Muhammad Amir - 07-01-2007
Yes Its Institute of Chartered Accountants in England and Wales(ICAEW) not ICAWE(this was my keying in mistake)....Dear Shoaib if you have clearly seen your keyboard their are 'W' and 'E' keys which some times creat problems however making them base to degrade all ACCA students is not very sound aproach.I hope you will not mind....
However dear shoaib i have never said that ACCA has fully captured the market instead i said that ICAP's monopoly will never exist...be careful i use the word of "monopoly"
I know the Value if CA(ICAP) my lot of teacers are CAs i know that CA is CA but i also say that ACCA is ACCA if someone wants to disgrace it by comparing it with MBA i will definitly resist...I know that its Still ICAP who is in dictating position because of it's huge number of members contrary ACCA is having very less number of members in pakistan and those who are members of ACCA are also having membership of ICAP....
Every one is having his/her own views i only expressed my views and you can't deprive this right from me........
May be you are right because i am only a student i had not started Articles Yet.......
Regards,
Muhammad Amir
- Iron man - 07-05-2007
HI GUYS
MBA and CFA both are different things.
You cannot comapare mangoes with apples.
with regards
Ironman
- Iron man - 07-05-2007
HI
The best choice is MBA in pakistan. I believe the only qualification who is giving a tough time to ACA and ACMA is MBA.
You know one of my friend went to a company who is qualified ACMA for the post of Financial manager, they refused him and choose a MBA-finance candidate.
I ask from my teacher who have a MBA qualification that if u have one post of MD or Chairman, what will be your preference;
1. an MBA + 10 years experience. OR
2. CA/ACMA + 10 years experience
and he said offcourse the one with MBA.
I asked him why, and he said because he fulfilled all the criteria we need.
Usually CA holders become CFO's and MBA becomes Chairman's and MD's.
I am not saying that MBA is better then CA. I am talking only about the scope of MBA in Pakistan. Right now The MBA is a only qualification which is competing with CA.
There is also a fact that all top managers who have a MBA degree, always prefere MBA candidate.
CFA is all about Fnancial and Investment analysis, but in Pakistan MBA degree holders are doing the same work, It will be a surprise to know that in some Asset management companies an MBA holder is earning more then CFA holder.
Do MBA (from IBA or LUMS) it is a red hot qualification today and your future will be bright. INSHA ALLAH.
with regards
Ironman
- nakaiun - 07-05-2007
Assalaum o alaikum
In this forum i do not understand y members say that acca is equal to mba acca is chartered accountant and mba is master in business administration which in allrounder not specialist mba is only two yrs while acca take 6 yrs 3 yrs of theory and 3 yrs of articlship this is the most ridiculous thing that most ca's say it is right that ca has little edge over acca in pakistan but this edge is only in pakistan
- ACCAite - 07-06-2007
you guys should start checking out what the big 4s around the world are asking for, as far as qualifications go. Or for that matter,loook for what the employers require for their finance manager positions, they ask for for an intl. proff. qualification like CPA, CA, ACCA e.t.c, thats just one thing! apart from that, they go on telling you about what kinda experience they expect, outside of pakistan, specially in middle east and North America, in 90% of the cases id say it wont matter as long as you have any of these qualifications, apart from that, what has your been xperience been, is important.
as far as MBA and CFAs go, they both are different qualifications as far as i think.
I am pursuing my ACCA and i am thinking very positive,i look forward to getting into a good firm and get POLISHED there for couple of years and hit the industry for goood pays and benefits.
best of luck to you all!
- Schuaeb - 07-08-2007
I think no body needs to tell the members that MBA and CFA are two different things. However, its never like comparing apples with mangoes. The aim of majority of students if not all is get the best earning opportunities after thier qualification. So two completely different qualifications can be compared as to analyze which would yield better earning opportunities.
When in Pakistan, qualifications should be compared in Pakistan's perspective. CA has a slight edge over ACCA in Pakistan? In this regard we need to know what's your criterian of slight edge.
There is no point in comparing CA with MBA in Pakistan, as there is a huge differnce between the two. If someone is talking bout LUMS or IBA-Khi, then the case may be justified. However, LUMS or IBA can't represent the whole MBA, as just constituting a small percentage of total MBAs
- sportyspice - 07-15-2007
its been a long time that i last visited this forum. the reason that i stopped visiting it was that most of the members over here had a childish approach towards life with no semse prevailing whatso ever. most of them seems to be prejudice against other qualifications since they themselves are not pursuing them and try hard to defend whatever their course of education is. MR MOHAMMAD AMIR is another typical example over here.
i appeal to everybody that please grow up and try to provide guidance to others rather than promoting ones own qualification.
mr Amir Mohammad in his first post says dont comapare MBA with CFA as it is like comparing apple with oranges. having said that he posts atleasts 8-10 posts in favor of acca against MBA.hahaha wat a joke...now isnt acca oranges and MBA apple....
mere bhai logo try not to deviate from the topic. CFA is a professional qualification that really complements your Cv and it is ideal if you have it along with a degree such as MBA.
as for AMIR sirjee bade hojao life is not that simple as it seems to be...you think MBA is stupid..try to get a MBA degree from HAVARD and than come to this forum for arguments...MBA from preston may be inferior to acca but MBA from LUMS noway....again compare apples with apples not oranges....acca is an accounting degree whereas MBA finance is......the name says it all..
- shsaeed - 07-19-2007
i only know about MBA Lums it is better because it is short but expensive, but after do MBA from Lums , Salary start from 45K to 50K.
- Muhammad Amir - 08-04-2007
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">six figure income<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Lots of CAs and ACCAs are already earning in this slab....
- Muhammad Amir - 08-06-2007
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">zindagi aik baar mili hai go for the Internationally recognised qualification and think about doing CFA only...!<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Yes I 100% agree but I don't think that one should only makle his goals CFA specific===>AGAY JAHAN AUR BHI HANN