CPA, CA, CMA, MBA – Is it worth ?

Is it worth seeking so many  financial degrees?

I often come across the above mentioned question by aspiring students (including my children).
My answer to this question is that all these multiple levels help you ONLY TO ENTER corporate world. Once you have entered the business community, it is only your value addition to the organization that will decide your way forward.
For me, it helped in seeking a job with EMPLOYER OF CHOICE at that point in India i.e. Siemens Ltd. I choose to work with Siemens for more than a decade. Was well paid, so decided in my early 30’s to invest in Equity Shares and apartments in Mumbai (Bombay, India). After working for 13 years in India and various parts of the World, I choose to migrate to Dubai with my family. Dubai proved to be “Land of Dreams” for me. Successfully earned petrol dollars and that too tax-free. After working there for seven years, I have now decided to migrate to Canada with family. After landing here, I can say with confidence that finance professionals can save much more in the Middle East compared to North America, especially if you are occupying the high-level managerial position.
CMA and CA are considered one of the toughest course to pass in India. With passing percentage less than 5%, there are presently around nine hundred thousand members for a country of 1.28 Billion.
The course is an optimum blend of practical and theoretical education. Further, one has to undergo three years of practical training under a practicing Chartered Accountant to appear before the final exam. The Chartered Accountancy course is considered to be one of the rigorous professional courses in India but not difficult if one put his fullest efforts. Similar is the situation in North America. Chartered Accountant from England and Wales is comparatively easier.
Once you have completed CMA India, one can opt for CMA (USA). Alternate could be CMA Strategic level, Management Accounting from The Chartered Institute of Management Accountants (CIMA), based in London, UK.
I believe CA or CMA, is one of the best professions.  Over a period, you experience mistakes companies commit. More than 70% of businesses fail, mainly due to inadequate cash flow. Finance is the key to any business, and if you don’t manage your working capital, you are doomed to failure. I have experienced that CEO’s who have a financial background or who have professional CFO’s make a better business judgment.
As finance professionals, after working in Corporate World for a decade, one can either start his practice or start a business (preferably international consulting).
Comments solicited.
Joginder Gujral,
Director, TOCCAI
FCMA(India), CMA (USA), FCA (India), CPA, CA (Candidate)

6 thoughts on “CPA, CA, CMA, MBA – Is it worth ?

  • Dear Joginder Gujral, what is your suggestion for new immigrants like me who are both CA and CMA qualified from India with 15+ years post qualification experience outside Canada? Does not having Canadian qualification is a hindrance to get jobs? If so, Which is easier to acquire CPA CGA or CPA CMA or CPA CA? Rgds Babu

    • Hi Venkatehsha,
      CA, CMA and CGA are all merged into CPA Canada. Canadian qualification is strongly recommended to get a good job in Canada. Each case is different, and it is too difficult to generalise whether not having Canadian qualification is a hindrance to getting a job.

      Hope this helps.
      Jogi Gujral FCA (India), FCMA (India), CMA (USA), MBA (IIM-B), B.Com, CPA Canada (CFE-Day 1 cleared)

  • Hi,
    I completed my CMA Inter in INDIA and final (1 part ) will that help to migrate my degree to CANADA CMA ? and complete my other part of final CMA so that I can be eligible for Canada CMA

    • Hi Lakshmi,
      First of all, there is no such thing as Canada CMA. CA, CMA and CGA are all merged into CPA Canada. Secondly, I would recommend you to migrate/’apply for PR’ asap irrespective of your Final (2nd part). Hope this helps.

      Jogi Gujral FCA (India), FCMA (India), CMA (USA), MBA (IIM-B), B.Com, CPA Canada (CFE-Day 1 cleared)

  • Thanks for explaining me about the cpa.Really interested in taking the course.I would like to take the course.Can anyone suggest me the best place to take the course.I currently work here cpa course in dubai is it possible for me to take the course in part time.?

    • Hi Caroline,
      As I understand your question is: you are currently working in Dubai, and would like to pursue CPA Canada course as the part-time student.
      My recommendation: You may pursue CPA Canada course as a part-time student from Dubai. First, finish off your Core and Elective exams (from Dubai), and then you need to be in Canada for Capstone 1.

      Hope this helps.
      Jogi Gujral FCA (India), FCMA (India), CMA (USA), MBA (IIM-B), B.Com, CPA Canada (CFE-Day 1 cleared)

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