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Question & Answers: Charted Accountant

Question

“I am 19 years old and I opted to do CA from Institute of Chartered Accountants of India after my 12 th grade in a CBSE school and I have passed my IPCC and now I am waiting to give my Ca- final in November 2015. I have always wanted to do an MBA from Harvard or Wharton. I wanted to know is there any correspondence course for a B.com or BA in finance that would be accepted by Harvard or Wharton and if there is any other way I could get into Harvard or Wharton for an MBA given my situation. Please advice. Thank you.”


Answer

In today’s world, an undergraduate degree will not cut it at most MNCs and corporations. Having a master’s has become a requirement for job advancement, and so many are looking at pursuing MBAs for professional advancement. The modern MBA program is usually a two-year graduate degree, and teaches concepts of business administration, accounting, finance and management and more.


Most MBA programs in the US, including Wharton and Harvard, require at least 2 years of working experience. So once you finish your CA, you will need to work for a minimum of two years before attending any of these business schools. Most MBA applicants work for more, and it is not uncommon to find applicants with over five years work experiences at business school.


Harvard Business School and Wharton Business School, University of Pennsylvania are among the best business schools in not only America, but the world. Thus, admission is highly selective and competitive, something you must remember when applying. When applying to such competitive schools, it is important to consider ‘safety’ or backup schools that you should apply to as a precaution.


Doing a correspondence course is not necessary for admission as your CA will be sufficient. Should you choose to do one, any correspondence course will be accepted by the schools but remember, only highly rated ones will be looked at favorably. I would recommend focusing on doing well in your CA and securing a good job rather than trying to get a correspondence course which will add little to your resume.


You must study and do the GMAT, which is a prerequisite for both schools. The average score of those admitted are 710 and higher; so ensure that you have adequate time to prepare for the exam.


Though there is no foolproof strategy for getting in, you can ensure better chances with the steps you take towards your admissions. Ensure that the job you get gives you both good learning and leadership opportunities as well as a respected brand name. For instance, Wharton looks favorably on top ranked management consulting and private equity firms for work experience.


Finally, remember there are more than these two schools for MBA! Decide on which fields interest you – most famous business schools specialize in certain fields and apply to the business school most aligned to your interests.


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