The dilemma “ACCA vs MBA, which is better?” is widely discussed. Both offer highly rewarding career opportunities for those interested in accounting or business management and leadership.
ACCA (the Association of Chartered Certified Accountants) is the official accounting body administering the globally recognised certification. To achieve this qualification, aspirants must complete a series of examinations, gain practical experience, and adhere to ethical and professional standards. ACCA is known for its international focus, and this makes it a valuable credential across countries and industries worldwide.
On the other hand, an MBA is one of the most sought-after post-graduate management degrees globally. The global MBA education market size is projected to grow at a compound annual growth rate (CAGR) of 15.6% between 2023 and 2032. An MBA degree can come with many specialisations and is widely chosen by people from all industries.
If you are confused about choosing between an ACCA or an MBA, here’s a comprehensive guide to help you make an informed decision.
ACCA vs MBA: Key Differences
The following table summarises the key differences between an ACCA and MBA course:
| Parameters | ACCA | MBA |
| Definition | The ACCA certification is designed for individuals aspiring to pursue a career in accounting and practice it globally. | A Master of Business Administration (MBA) is a post-graduate program. It imparts fundamental business and management knowledge. |
| Conferred by | The Association of Chartered Certified Accountants (ACCA). | Private or government-recognised universities award MBA degrees. |
| Duration | To acquire the ACCA certification, one must pass 14 professional examinations and get three years of supervised accountancy experience. | An MBA degree can be completed in 1 or 2 years, depending on the length of the program. |
| Job opportunities | Individuals can pursue diverse roles such as Accountant, Tax Manager, Finance Manager, and Financial Consultant.
Additional potential roles encompass Financial Analyst, Risk Manager, and Corporate Controller after obtaining the ACCA certification. |
Upon obtaining an MBA, you may find opportunities as a Financial Planner, Investment Banker, Insurance Specialist, Financial Manager, and Human Resource Manager.
Additionally, one may explore positions like Risk Analyst, Asset Manager, and Corporate Treasurer, expanding the array of potential career paths. |
ACCA vs MBA Finance
While the ACCA is one of the world’s most valuable accounting qualifications, an MBA in finance is one of the most widely chosen specialisations. Both have a striking contrast but remain the favourite qualifications for accounting and finance enthusiasts.
Here’s what you will be mainly dealing with while you pursue an ACCA certification:
- Management Accounting
- Corporate and Business Law
- Financial Accounting
- Performance Management
- Taxation
- Financial Reporting
- Audit and Assurance
- Financial Management
- Strategic Business Leadership
- Business and Technology
On the other hand, an MBA in finance has several different subjects to offer. Here’s what a standard MBA in finance curriculum covers:
- Micro-Economics Marketing and Consumer Behaviour
- Organisational Behaviour
- Advanced Corporate Finance
- Mergers and Acquisitions
- Business Valuation and Modelling
- Alternative Investments and Portfolio Management
- Supply Chain Management
Is ACCA Better Than MBA?
You must consider your long-term career goals before choosing between an ACCA or an MBA. ACCA may be more suitable if you have a specific interest in accounting and finance. An MBA might be better if you aspire to be placed in managerial roles.
ACCA often requires practical experience in accounting, while MBA programs may accept candidates from various backgrounds. Consider your existing experience and whether it aligns with the requirements of each qualification.
ACCA provides specialised knowledge, while an MBA offers a more generalised business education. Not just this, the ACCA vs MBA salary differs too. An entry-level ACCA can work as a Marketing Executive and make anywhere around INR 6.3 LPA to 7.7 LPA. Higher paying roles after an ACCA can be that of a Business Relationship Manager earning between INR 14.5 LPA and 18.6 LPA.
Conversely, the highest-paying MBA job is a Financial Planning and Analysis Manager. The average salary of these professionals is about INR 12.9LPA. On the other hand, an entry-level MBA graduate can work as an Information Systems Manager and earn an average salary of about INR 3 LPA.
Thus, there is no one-size-fits-all answer, and the decision should align with your career aspirations and preferences.
Conclusion
Choosing between the two lucrative options of ACCA and MBA is quite a task. Some choose between the two qualifications, while some find value in combining ACCA and MBA to cultivate a comprehensive skill set.
The answer to “Is ACCA better than MBA?” depends on your aspirations and skills. The right choice depends on an individual’s professional aspirations and the trajectory they envision for their career in the dynamic landscape of business and finance.
If you are looking forward to an enriching career as an ACCA, consider opting for the all-encompassing prep program by The WallStreet School. Give your ACCA career a headstart with online and bootcamp preparatory ACCA programs.
The WallStreet School provides expert guidance with over two decades of industry experience. Take the ACCA training by The WallStreet School today!
Get in touch with us via email or phone (+91-9953729651)
Frequently Asked Questions
- ACCA vs MBA, which is better?
ACCA and MBA complement each other. Combining ACCA with an MBA can offer extensive business and financial insights, opening doors to diverse career paths. It can also help increase salary prospects for individuals. Many people choose to do an MBA after pursuing an ACCA.
- Is it difficult to get a job after ACCA?
Individuals with ACCA qualifications find smooth placement opportunities in renowned Big 4 firms such as EY, PwC, Deloitte, and KPMG. Additionally, multinational corporations like Tata, Grant Thornton, Embassy Group, and Pepsico actively seek and hire professionals with ACCA credentials in India.
- Is MBA still in demand?
The current job market continues to show a strong demand for MBA graduates, and this trend is anticipated to persist. Employers actively seek individuals with the skills and qualifications that an MBA brings to the table.
