MBA is one of the most popular terms that you can hear among graduates when asked about what they plan to study next. This particular course is not just popular among business graduates, but even science and arts graduates are interested in pursuing it for further studies. So, why are graduates worldwide interested in enrolling themselves in an MBA course? Is MBA worth it, MBA after ACCA, or is it just another trend? Let’s find out by understanding what MBA is and what makes it so remarkable?
What is an MBA degree?
MBA (Masters in business administration) is a graduate-level course offered in business schools worldwide. The course concentrates on core enterprise administration and other business-related modules such as accounts, human resources, business laws, finance, organizational behavior, marketing, economics, business strategy, statistics, entrepreneurship, etc. All these modules instruct regarding the most crucial things to be understood in a business organization. However, just the modules are not the only thing one shall be benefited from once they enroll in the program. MBA is more than just a course but an opportunity for you to build your interpersonal crafts such as good communication skills, collaboration, constructive feedback, comforting, Conflict management, and others. It can also allow you to link with individuals and create a lifelong network with like-minded people who can give you real career benefits.
What is an ACCA degree?
ACCA (Association of Chartered Certified Accountants) is one of the world’s most prominent proficient accounting organizations which offers Chartered Certified Accountant qualifications to aspiring financial professionals worldwide. The ACCA delivers a comprehensive package of rational education and good skill practice, which further helps you have a successful organizational career and handle an enterprise association. The entire syllabus consists of three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Its completion usually takes three years to learn and sit for 13 exams. After completing the exam successfully, you will know as an ACCA member. More than 200,000 ACCA members are already unlocking their opportunities to work in any sector.
Is MBA worth after ACCA? When should you choose MBA?
Before Seed Financial Academy conclude when to take an MBA and if it is the right fit for you, it is vital to analyze the following aspects:
1) The difference between MBA and ACCA
Students can complete their MBA courses within two years. At the same time, ACCA will take you around three years of duration to complete. The duration of an MBA can vary from one institution to another. However, one institution only issued ACCA certification, i.e., the Association of Chartered Certified Accountants. ACCA requires you to do a registration which costs you £89, and you will also have to pay £116 annually. Besides, MBA costs you around £27,500 to £87,900.
2) What value MBA can add if you already are an ACCA member
The ACCA degree is much more inclined to make you more educated about accounts, finance, taxation, and auditing. However, MBA is more about how a business works and what terminology is used in an enterprise. MBA helps you build a strong foundation of business basics, and ACCA concentrates on the accounting aspect.
Hence if you want to learn about organizational behavior, how to manage people, whom to collaborate with, and more MBA can be the best choice to make.
3) How can you grow your business career, or what organizational benefits can it give you?
You can blend the learning of ACCA and MBA to boost your knowledge in accounting, leadership, and organizational responsibilities. The ACCA program focuses more on the accounting side, which gives you a broader sense of understanding of accounting qualifications. At the same time, an MBA degree provides certainty in business management, administration, and marketing. Now, you might wonder what shift it can make in your career whatsoever. An ACCA after MBA will make you happy financially, as it can raise your pay by 4.25 to 5 %.
Did you know? Shortly the chances of employability of MBA graduates are going to increase tremendously as 96% of the top companies around the world are planning to hire employees who are MBA graduates. Besides, including an MBA might not just be a job getter for you, but it might also help raise your salary by a good percentage. An average salary of an MBA graduate with a practice of 1-2 years is around $130,000 per annum globally.
In addition, it’s not just about the salary. MBA can help build a path for you to climb the organization designation one by one. The studies show that your chances of growth at the administrative level at any institution are higher if you have MBA included in your resume due to the solid fundamentals and broad knowledge area.
What to do after Acca? ACCA to MBA
Unlike ACCA, you can pursue MBA in any business school you like. So, how do you enroll yourself for an MBA after completing ACCA? Well, the successful completion of ACCA makes you a member of ACCA. Hence, you will get to relish the advantages of speeding up your MBA program and can complete the whole program within 24 months of duration. Being an ACCA member, there will be exemptions in modules such as accounts and finance for up to 30 credits. Unlike many other MBA graduates, the AACA members are regarded as high-standard professionals. Thus a straightforward application procedure to apply will be enough. Moreover, the members will also be granted a specific discount on their entire MBA expenditure. Besides, the members are also given all the MBA study materials entirely free.