CMA vs MBA

[2.2vtec]

Before I begin yes i know a CMA is more accounting focused then an MBA but what is better in the long run and what is more needed in the Oil and Gas industry. I'm working in accounting now but I can't see myself doing all this number crunching for a long time. Given that what is more prefered by employers now a days?

Any personal experiences will be greatly appreciated.

btw I have an undergrad b.comm degree in finance.

[BrknFngrs]

not interested in the CA route?

[blah23]

What do you want to be doing in the oil and gas industry?

[Xtrema]

IMO MBA are a dime a dozen and it's not really worth it until you have some business experience.

CMA probably better, but CA will open even more doors.

[in*10*se]

it depends what your first degree is.

if you have a p.eng w/ an mba you have a killer combo

if you have a B.Fine Arts w/ mba, you're still kinda useless. i'd recommend an accounting designation.

[ragu]

I'd say CA; but do what you really like and if you're good at it you'll open doors for yourself.

[BananaFob]

MBA = Master of Bugger All

[AG_Styles]

Originally posted by ragu
do what you really like and if you're good at it you'll open doors for yourself.

^^truth.

[blownz]

Start with CMA and then go for an MBA later.

MBA likely won't help you for the first 5-10 years of your career.

And for the guys saying CA will open more doors. Only if you are looking at working for an accounting firm. For accounting and finance jobs in industry they are almost always looking for CMA's first and CGA's second. CA's are more for the firms and the large companies that are looking for a specialized person for something like tax. If you are looking for Controller, or VP Finance jobs I think you are best off with the CMA designation.

[The_Rural_Juror]

^ what do you do again?

[urbannomad]

why not try the CAMBA route?

[KappaSigma]

Originally posted by blownz
Start with CMA and then go for an MBA later.

MBA likely won't help you for the first 5-10 years of your career.

And for the guys saying CA will open more doors. Only if you are looking at working for an accounting firm. For accounting and finance jobs in industry they are almost always looking for CMA's first and CGA's second. CA's are more for the firms and the large companies that are looking for a specialized person for something like tax. If you are looking for Controller, or VP Finance jobs I think you are best off with the CMA designation.

Most controllers and VPs of large firms are CAs and not CMAs. I worked for an extremely large OG company and the big boys were CA not CMAs.

[blownz]

Originally posted by The_Rural_Juror
^ what do you do again?

Accountant. Specifically controller for a small (40-50mil a year) company.

Originally posted by KappaSigma

Most controllers and VPs of large firms are CAs and not CMAs. I worked for an extremely large OG company and the big boys were CA not CMAs.

You are correct in the biggest companies CA's are more prevalent than CMA's a at the top.

The only problem is that CA's typically only start out in accounting firms and that doesn't sound like what the OP is looking for. If he is looking at getting into accounting/finance/management and moving up in a company, then I think a CMA designation is better for him. Add an MBA (from a decent uni) later and it will help get further.

[The_Rural_Juror]

I smell another bean-counter catfight.

CFA FTW since the OP was a finance major and is above doing journal entries.

Edit: Nevermind. The OP doesn't like number crunching.

[Mckenzie]

CMA hands down. MBA maybe later in life or to COMPLIMENT an LLB / P Eng.

MBA = More Bitterness Ahead
(Read- MBAs will be crying for jobs while any accountant will be mopping up the mess).

If you think you can handle the pain, go for a CA. The income ceiling does not exist and the opportunities are much more diverse since you will see such an array of businesses and experience so much in your articling. You will also be able to move into the CFO role much easier. Also, bean counting is the role of your workers when you are a CMA / CA.

I feel CMA is good for industry jobs, but in the bigger companies, you will move up much faster with a CA and not be limited to financial analysis since you will need to know GAAP / IFRS in and out. CMA is somewhat pigeonholing you to only know bean counting, while a CA will open doors that may lead to analysis and management roles.

I think a CA will kill an MBA anyday because the training for a CA is all on the job and is all case based (like the Harvard MBA).

Stay away from the MBA , especially with a B Comm. (its only 10 Business classes different than a bachelor of commerce and your other 10 classes will be outside the faculty).

[KappaSigma]

Originally posted by blownz


Accountant. Specifically controller for a small (40-50mil a year) company.




You are correct in the biggest companies CA's are more prevalent than CMA's a at the top.

The only problem is that CA's typically only start out in accounting firms and that doesn't sound like what the OP is looking for. If he is looking at getting into accounting/finance/management and moving up in a company, then I think a CMA designation is better for him. Add an MBA (from a decent uni) later and it will help get further.

CA's start out in accounting forms because you need the articling time for the designation. A ton move from public pratice to industry upon completion.

[liquid1010]

Originally posted by Mckenzie
CMA hands down. MBA maybe later in life or to COMPLIMENT an LLB / P Eng.

MBA = More Bitterness Ahead
(Read- MBAs will be crying for jobs while any accountant will be mopping up the mess).

I totally disagree. I recently had a conversation with a Finance manager about this. She stayed away from CMA's and CGA's for her team since she has noticed that they lack "complete" business understanding. Every Dept needs some accountants, but if everyone on a team is an accountant, you're in for a world of hurt.

Accounting is great, and we need it.... but it doesn't "drive business".

If you think you can handle the pain, go for a CA. The income ceiling does not exist and the opportunities are much more diverse since you will see such an array of businesses and experience so much in your articling. You will also be able to move into the CFO role much easier. Also, bean counting is the role of your workers when you are a CMA / CA.

I feel CMA is good for industry jobs, but in the bigger companies, you will move up much faster with a CA and not be limited to financial analysis since you will need to know GAAP / IFRS in and out. CMA is somewhat pigeonholing you to only know bean counting, while a CA will open doors that may lead to analysis and management roles.

I think a CA will kill an MBA anyday because the training for a CA is all on the job and is all case based (like the Harvard MBA).

Make a very valid point. CA is the cream of the crop for sure.

Stay away from the MBA , especially with a B Comm. (its only 10 Business classes different than a bachelor of commerce and your other 10 classes will be outside the faculty). [/B]

For a BCOMM, an MBA just moves things towards a case study basis, with a greater degree of difficulty. In a perfect world it would be best to have a CA/CMA/CGA and an MBA......

[DJ_NAV]

I don't think you need CA and MBA. They are both business minded designations. I think that MBA is great for non business grads.. eng, arts etc etc. But for business grads(act, finance, econ) CA is the probably the best.

[Mckenzie]

Originally posted by liquid1010


I totally disagree. I recently had a conversation with a Finance manager about this. She stayed away from CMA's and CGA's for her team since she has noticed that they lack "complete" business understanding. Every Dept needs some accountants, but if everyone on a team is an accountant, you're in for a world of hurt.

Accounting is great, and we need it.... but it doesn't "drive business".



Make a very valid point. CA is the cream of the crop for sure.



For a BCOMM, an MBA just moves things towards a case study basis, with a greater degree of difficulty. In a perfect world it would be best to have a CA/CMA/CGA and an MBA......

I guess if you already possess good business accumen / understanding, then pursuing an MBA would be worthless since it attempts to teach that. That being said, you would benefit from a technical skill set to compliment your higher understanding, such as a CA, CMA, CGA, CBV or CFA.

If you do NOT posses an understanding of business as a whole and are more technically focussed, an MBA would be great.

I have a solid understanding of business mechanics / dynamics at a higher level but lack technical skills. That is why I pursued a CA.

And IMO, accounting is the language / structure of a business (it does not drive it, but does capture, measure and explain it). Case in point- A friend of mine went to lunch with Dick Haskayne to discuss doing a CA or an MBA (his aunt knows him very well). He gave an example of a meeting he was in where a person who (ironically) had an MBA and was trying to discuss a situation that involved using basic accounting terminology. Apparently this person gave the impression that they knew jack shit about business and the situation because the had no knowledge accounting terminology...the person completely botched the situation / presentation. His advice to my friend was that a CA gives you an immense understanding of the nuts / bolts of business and the systems that make it work. It lays a great foundation for you to build off of.

I do feel though that if you are not looking at a career involving crunching numbers then a CMA is not a great choice. However, keep in mind the job market for MBAs is horrendous right now so having a CMA or any accounting designation is a great backstop in times like these.

[Gi0]

if you can get an MBA at some ivy school or top 40 b-school go for it

why not get CFA, since you have a finance degree?

BTW i also have a finance and MIS degree and am working towards my MBA in a couple of years