People say a Chartered Accountant (CA) is an institution in itself. After completing your CA, you are not only qualified to get a decent job for yourself but also you become a job giver. There are umpteen opportunities for a Chartered Accountant. Here are some options:
Certified Public Accountants (CPAs) are the only individuals permitted to audit an organization’s financial statements. So, there is always a need for CA in the Audit Industry. This is the field where CA receives the most significant compensation.
International taxation along with direct tax consultancy for companies involving foreign parties. You can also go for GST/Customs consultancy. Tax Planning and Appeals are also involved in this.
Teaching is a very prestigious profession with high ethical standards. As the course is very intrinsic and complex, a large number of students take classes for the curriculum. Teaching not only provides monetary benefits but also reputation.
Through CA you get to know the extensive knowledge of the financial sector. You can use this knowledge to benefit any organization by handling their financial affairs. This type of job is highly regarded and requires a lot of technical abilities.
This is certainly one of the prominent choices among newly qualified chartered accountants. For those having an interest in the stock market, forex, and derivatives the choice would be to work for banks and NBFCs (non-banking finance companies). With respect to banks, one should aim big, instead of going for public and private sector banks, the aim should be to go for foreign banks. Foreign banks offer wide exposure, global clients, and growth. More than that international-level work will be gained in the areas with respect to the portfolio, and credit rating.
This is the most flexibly suited job for people interested in government-related jobs. They can aim for doing Civil services courses and to attain positions in the ITAT tribunal (Income Tax Appellate Tribunal), and SEBI (Securities Exchange Board of India).
This is certainly the most welcome option for those interested in the field of risk management, the policy of insurance, and other insurance-related matters. Here finance knowledge is very vital and essential. You should be competent in participating in the bank’s financial affairs and working on their financial strategies, control, funding, forecasting, and other related tasks.
Chartered Accountancy teaches a variety of things from day one. It surely becomes a way of life. The skills you need to get through the CA course are very similar to what you need to be a successful entrepreneur. You need to be focused, dedicated, creative and analytical. You should have innovative ideas and broad-mind business tactics.
In today's world, both industry and practice have good opportunities. They have their own pros and cons. Switching from industry to practice or vice versa would not be idle as both are different ball games altogether.
Lastly, a very important tip, that should be the right field to build a career should not be influenced by a friend's decision. It should come by way of one's own interest and choice and not chance.