What are the best career opportunities after becoming a Chartered Accountant?
There are numerous more profession choices present for you in the field of finance too. Here is the list of finance course that you can seek after for a superior vocation. So beneath is the list of profession choices that one can seek after subsequent to finishing/stopping CA for better development openings.
Profession choices subsequent after becoming a Chartered Accountant (CA)
CFA (Chartered Financial Analyst)
CFA is a decent choice on the off chance that you intend to become wildly successful in the speculation keeping money world. Profession openings after CFA incorporate open doors in Portfolio Management, Investment Banking, Equity Research, Research Analysis, Auditing and so forth. Pay earned after CFA is additionally great when contrasted with numerous other residential courses. With CA your profession development will be restricted just to India however CFA will open up a great deal of worldwide open doors also.
To get the CFA sanction you'll need to clear the 3 levels of the exam and you'll require 4 years of expert work understanding. You can enlist for the CFA Level 1 examination after your graduation or in the last year of graduation. Work encounter isn't required to show up for the exams.
ACCA (Association of Chartered Certified Accountants)
Seeking after ACCA in the wake of finishing your CA will widen your vocation prospects. By turning into the individual from ACCA you'll have the capacity to work in differing ventures and in MNCs too. It will give you an extra data about UK GAAP, IFRS and universal laws which implies openings in worldwide market also.
ACCA exams have 14 papers. On the off chance that you have finished CA, at that point you are qualified for 9 exceptions which implies you'll need to show up for just residual 5 papers. In the event that you have cleared your IPCC then you are qualified for 5 exclusions.
CS (Company Secretary)
In spite of the fact that a Chartered Accountant can't rehearse both CA and CS together, seeking after CS will demonstrate that alongside the bookkeeping matters you are sufficiently qualified to care for the corporate legitimate issues too. On the off chance that you intend to take up the activity, at that point CS capability will give you a high ground when contrasted with alternate CAs.
Likewise, CS is somewhat less demanding when contrasted with CA, so on the off chance that you were not ready to clear CA because of the trouble level then you should need to give an attempt in CS. To get the CS accreditation, you'll have to clear 3 phases (Foundation, Executive, Professional). In the event that you are seeking after graduation, you can specifically begin with the Executive stage.
CMA (Certified Management Accountant)
Seeking after CMA will demonstrate your value in cost bookkeeping and administration. On the off chance that you wish to become wildly successful in cost bookkeeping and administration and are anticipating the global chances, at that point seeking after CMA is the best alternative. The activity jobs that you can seek after CMA incorporate Finance Manager, Financial Analyst, Cost bookkeeper among numerous others.
To end up a CMA, the understudy is required to clear two examinations that are directed after like clockwork.
CPA (Certified Public Accountant)
A Certified Public Accountant is one of the most astounding standard of capabilities in the field of Accountancy over the globe. Notwithstanding the CA capability, a CPA will know about US Generally Accepted Accounting Principles (GAAP), IFRS (International Financial Reporting Standards), Generally Accepted Accounting Standards (GAAS), US government tax collection and business laws. Vocation choices after CPA incorporate Forensic Accounting, International Accounting,Accounting Recruitment Consultants, Tax Accounting among numerous others.
CPA Exams comprise of 4 papers or area that can be finished inside a year or even less.
BAT (Business Accounting and Taxation)
This one is uncommonly for the ones who couldn't finish CA and are thusly left in the middle. BAT (Business Accounting and Taxation) is a fleeting course planned by EduPristine that will give the understudies viable comprehension of bookkeeping, tax collection, revealing and consistence and every one of the abilities that you'll require in bookkeeping firms (Big 4s), KPOs or other bad-to-the-bone fund and record profiles.
Average Salary for a Employed Qualified CA is between 7–8 Lacs. But the Standard Deviation is quite high ranging from Rs. 76 Lacs to Rs. 4 Lacs.
In case the CA opts for practicing with his own firm. The scope is almost unlimited. For instance the firm D. B. Desai & Co. which is one of the largest firm in India was started by one person Mr. D. B. Desai & the firm clocks more than Rs. 100 Crs. annually.
But yeah there are other problems is it like the High Gestation Period, Having references to get initial work & Fear of Failing. There are hundreds of firm which die a slow death if they don't get clients in the initial years.
EY/Delloite/PWC/KPMG/Grant Thorton - Rs. 6–8.5 Lacs - They hire the maximum number of CA freshers. They have the benefit of good exposure, better salary increments & more challenging work. But you should be prepared for the work pressure, late nighters, low salary as compared to industry and really low Job Satisfaction. Each department deserves a special mention. The salary they pay in all departments is almost similar but the work & career prospects are completely different.
Audit - This is where bulk of CA Freshers enter.
Direct Tax - They recruit less people in Direct Tax.
Indirect Tax - Given that GST has been implemented, Big 4s have stepped up hiring in Indirect Taxes.
Transfer Pricing - This is a niche field. But the problem with such specialization is you have less options to switch in future if you don't like this field. So enter Transfer Pricing only if you are really aware of what you're getting into.
Merger & Acquisition - The work here is the most exciting of all departments. This department isn't that rosy as it's shown. Don't expect anything similar to Investment Banking. CAs generally get hired in Tax related aspect of M&A or for Due diligence of financials in M&A which has less scope in the future. Getting into Valuations, Financial Modelling & Front facing M&A requires you both a Rank & and a prior work experience.
Shared Services - This is the offsore outsourcing arm of Big 4s where they handle work of clients from UK & US. The quality of life here is the best but there's less scope of intellectual growth. It's not recommended to join them.
It is advisable to start your career with a Big 4 given the quality of Exposure & Clients you get to handle.
Marico/BCG/ABG/HUL/P&G/McKinney/RB - Rs. 15–28 Lacs - These companies calls only Rankers for an Interview and offer something called a “Dream Job”. Getting an opportunity to Interview for them is the best perk of being a Ranker. Most of them hire CAs as Management Trainee placing them on 6 Months Stint at various Location / Department for 2 years. And then you choose, which department you want to work for. For Instance : Marico has a Sales stint of 6 month where you literally sell FMCG product to whole sellers & P&G has a Graduation Ceremony in USA after 2 years.
Airtel/ITC/Yes Bank/JP Morgan/Trident/Pepsico - Rs. 22–18 Lacs - These companies recruit candidates mainly through campus for specific roles. The Starting Salary given is quite lucrative but join them only if they you are really interested in the specific domain. For Instance: ITC hires just for the Internal Audit profile.
Olam/Tolaram/Mount Meru - Rs. 76–20 Lacs - They recruit only through ICAI Campus for Africa, specially Nigeria. Altough the CTC they offer seems to be hefty, the Cash Component is quite low & add to it the risk of loosing your life at Nigeria. From the 3 companies, only Olam International is worth joining. For Instance: Olam International has a CTC of Rs. 76 Lacs which includes Rs. 30 Lacs just for the Accommodation & Car. The cash component is around Rs. 35 Lacs (which is still a lot for a fresher!).
PSUs like BPCL, Coal India, ONGC, HPCL, IOCL, Oil India, REC, Bharat Broadband, BSNL - Rs. 9–18 Lacs - These companies shortlist candidates in the Campus on basis of Marks (55% or 60%) and then it depends on how your interview goes. Well like with every PSU, the starting package in good but the annual increment (3% only!) is miserable. Not advisable for a fresher unless you are looking for a good work life balance.
Goldman Sacs/Barclays/Standard Chartered - Rs. 8–10 Lacs - These companies recruit either On campus or Off campus generally for a Bank End role such as Product Control, Legal Entity Control etc. (Non-Investment Banking Profiles). For people who are really desperate to get into Finance, this is one of the few options to do something close to IB (along with M&A from a Big 4).
Tata/Reliance/Vedanta/Kesoram/MRF - Rs. 7–11 Lacs - These companies also recruit through campus. Good companies to start your career with if you want to enter the specific industry. But be prepared to face a monotonous work load.
Infosys/Wipro/TCS - Rs. 7–10 Lacs - IT companies have less work pressure with good work life balance. It’s not advisable to start your career with them considering the fact that there won’t be much knowledge up gradation.
Kotak Mahindra/ICICI/PNB & Other Banks - Rs. 6 - 9 Lacs - Banks recruit a lot of chartered Accountant for a lot of roles like Front End (Relationship Management), Credit Rating, Treasury, Audit & Accounts. One thing to consider before accepting the offer is to read the Job Description carefully due to inconsistency in naming Job Profiles, because Treasure Manger in Kotak Mahindra will be a lot different from Treasury Manager in PNB.
It is not possible to simply say A is better or B is best. We rank everything as Good, Better & Best on the basis of a certain set of criteria and this criteria varies from person to person. If I like Mangoes, it doesn’t mean everyone should like Mangoes. Criteria differs from person to person. Therefore, you should be on high alert, if somebody says this is best or that is best, because they are dumping their ideas on you.
As it has always been my policy, I never recommend names - whether faculties, coaching classes, books or articleship firms. Giving a person names, deprives the person from his/her ability to analyze & select the best. The person loses his/her independent opinion and becomes mechanical & sheepy (people who behave like sheeps & run behind herds). They forget that every person is special, has different abilities and therefore, what suits to others may not suit them.
Criteria to apply while selecting job offers (Choose your criteria)
When it comes to selection of best companies to work in, people apply following different criteria. Some criteria may be highly important for one, while less important for others. So choose what are your criteria and accordingly shortlist companies or rank them as good, better & best. Here, I am helping you with the method of selecting best companies (as best is subjective) followed by the most commonly available choices.
Whether you wish to do job entire career or practice in near future or do business in near future or the some other option in long term? (If practice, business or some other thing in future then accordingly select a job which gives you base experience for the future plans)
Whether you wish to work in Industry or CA firms? (Articleship or a few years experience with Big four firms, helps a lot throughout your career)
Which locations you wish to work in? (Some companies offer huge packages, if you are ready to work in Nigeria. On the other hand, many job positions involve very frequent travelling across India or a region)
Do you have enough on your resume to get job in companies you are dreaming about? (Don’t day dream. If you don’t fit the job profile, don’t waste time on it, instead work on building your profile)
Which industry the company belongs to? (Once you work in a particular industry, other companies in same industry select you quickly in future.)
What is the job position being offered? (Don’t just see the company. Sometimes, people go by reputation of company & forget they were being hired for a job position involving robot-work)
What is the future scope of position being offered? (If you work in redundant areas, your work experience won’t count much in future jobs)
Is the company hierarchial or flat? Will it get me promotions at par with my efforts? (If you plan on working in the same company for longer period, this is very important question)
How is the Company Environment? (Important, because you will spend majority of your day there)
Top Corporates who hire Chartered Accountants (Apply your criteria)
Remember, you are a Chartered Accountant, you have almost all the choices on arth when it comes to choice of job. You can work in any company.
As you know, Finance & Accounting is our major area and hence we are omnipresent. There is no industry or no companies where Chartered Accountants are not required. Either companies hire Chartered Accountant or hire the services of a Chartered Accountant firm or do both. So the list below is not an exhaustive one, I am mentioning only the large corporates I remember which hire Chartered Accountants regularly.
E&Y, KPMG, Deloitte, PwC, Grant Thorton, BDO, RSM International, etc. (Top International Accounting firms)
Khumji Khiverji & Co, Lodha & Co, Suresh Surana & Asso LLP, SS Kothari Metha & Co, Diwan Chopra & Asso, S. Aiyar & Co, TR Chadha & Co, Luthra & Luthra, RM Rajapurkar & Co, JS Sundaram & Co (Top Indian Accounting firms)
Reliance Industries & Group, Aditya Birla Group, ITC Limited, Johnson & Johnson (Companies that usually hire rankholders only)
Tolaram Group, Olam International, Alghanim Industries, ETA Ascon Group, Landmark Group, Kuwait Resources House, Oman Cables Industry, Qatar Insurance Co, Rak Investment Authority, Topaz Energy & Marine (International Placements)
ICICI Bank, Axis Bank, Federal Bank, Kotak Mahindra, Standard Chartered, State Bank of India, HDFC Bank, IDFC Bank, RBL Bank (Banking Services)
Morgan Stanley, JP Morgan Chase, Citi, Credit Suisse, Janalakshmi, Bajaj Finserv & Group, Indiabulls, HSBC, BNY Mellon, Crisil, Edelweiss, HDFC (Financial Services)
Infosys, TCS, Wipro, Accenture, Cognizant, Genpact, HCL, Dell, IBM, HP, Intel, Semantec, Qualcomm, SAP, Oracle, Ramco (Information Technology Services)
Adani Enterprise, General Motors, Godrej & Boyce, Pepsi Co, L&T, Unilever, MRF, Maruti Suzuki, Tata Motors, Tech Mahindra (Top Private sector Companies)
Asian Paints, Flipkart, Amazon, Indigo Airlines, Airtel, Vodafone, Philips, Crompton Greaves, Vedanta Group, Saint Gobain, John Deere, Suzlon, Lodha Group, (Other Top Private sector Companies)
Bharat Electronics Limited, Bharat Petroleum Corporation Limited, Indian Oil Corporation, Hindustan Petroleum Corporation Limited, Life Insurance Corporation, Gas Authority of India Limited (Top Public sector Companies)
Goldman Sachs, Boston Consulting Group, Michael Page, Barclays, Mckinsey & Co (Occasional hirers)
Conclusion: Don’t just go by the name, consider all factors together. The most important factor while career choice should be Position offered rather than Company. As a Chartered Accountant, you have all the choices in world to choose from - any industry, any organization type, any organization size, any location. The only thing that stops you from joining any company is your profile. If your profile fits, company would hire and vice versa.For more info Visit Here.
Carefully integrate your lifestyle decisions. Saving a hundred dollars each month can help in creating a more optimistic financial occasion. Sacrificing that daily gourmet coffee and making your own save that you lot of greenbacks over that will help of per month or year. Instead of paying five dollars for your daily coffee, brew at home and add your own flavors and toppings. Use it with you in a thermos!
Now that you can see methods a couple of ways make use of coupons, samples, gift certificates, and voucher codes. Just remember there all dress yourself in there just known by different full names.
To Know more about Accountancy Recruitment Consultants Visit Here
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