It is a common myth that commerce graduates usually do not have that much job choices. But, the truth is that there are plenty of positions available in the commerce field as well. A career option in accounts depends upon one’s abilities and interests. And if the student belongs to the elite Chartered Accountants group then the horizons expand further for them. The progress in globalization and rise in regulatory reforms like GST has led to even more job opportunities for CA students.
If you are choosing a career path in Chartered Accountancy, this post shows some of the trendiest jobs for you. Such opportunities even cover government sectors, so that there is a better chance of survival in the competitive world.
What hot avenues are available to CAs?
One should also note that clearing the exams for CA is just the beginning. A CA graduate’s professional life is the real exam where he/she has to practice what he/she learnt. That said, here are the trendiest job opportunities after CA for you:
1) Working independently as a CA professional
CA aspirants who believe in their talent would definitely want to pursue a career as an independent professional. You definitely need good connections, technical skills and an entrepreneurial talent to win in this career choice.
The aspirant would need to be a sharp businessman to survive in this field. Do note that there is no fixed salary here as you are going to practice right from scratch. Consider yourself a part of a self-employed system. One may also need to invest in money, hard work and time. If you look at some of the renowned faculties who have worked independently to be CA trainers to be CA trainers have established a new identity of their own.
Job Profile: The aspirant will need to perform taxations and audits for small and medium-level businesses in the beginning. Later, with accumulation of a strong portfolio, the job may increase to large companies. This may also depend upon the individual’s talent to survive as an independent Chartered Accountant. You will also require the accreditation of an ICAI certification to practice.
Concerned Industry: Based on the industrial background, the Chartered Accountant professional will have the advantage of targeting any type of business industry. But, one has to work proactively to strengthen the clientele when working as an independent CA. Surely, with the right approach, there are chances of earning higher profits.
Why to pursue: Pursuing this profession will provide with vast opportunities in the world of business. Profits are high and indefinite. There is also a scope of expanding the accountancy team to cover up more area for taxation, audits, and other similar processes in accounting.
2) Working at a Chartered Accountant firm
This job opportunity in the chartered accountant career path is one of the most popular ones as it involves a secure job for the aspirant. Joining an already-established firm will provide you with a strong base right from the start. The chances of progressing here solely depends upon how well you perform compared to other CA employees at the firm.
Job Profile: This job would require one to be a graduate in Chartered Accountancy. Some CA firms may also ask for the designation of a CPA (Certified Public Accountant). Overall, one has to have a bachelor’s degree in accountancy for applying for a position at an established CA company.
Concerned Industry: Here too the targeted industry is dynamic for the CA employees. All industries that require audits for their operations will need the assistance of Chartered Accountants. However, CA firms mostly involve with reputed companies. So, as an employee, the CA may have to go for audits to such companies when required.
Why to pursue: There is a security of a fixed job, salary, and incentives. There is also an opportunity of traveling a lot to the client companies for audits, etc. The employer company will cover most of the expenses.
3) Government Sector
Opportunities for CA in govt sector may have its own benefits just like for other services. There is no doubt that this sector will give many benefits and job security throughout the lifetime. There are plenty of government sectors to apply, such as banks, electrical sector, financial sector, transportation sector, etc.
Job Profile: The basic requirement for applying for a government job as a CA is the bachelor’s degree in accountancy. Additionally, there is advantage for aspirants who are MBA graduates, postgraduates, etc. Some government sectors may also accept diplomas in the relevant fields. So, you may have to find that out with the sector you want to apply at.
Concerned Industry: As mentioned earlier, there is a diversified list of industries where there is a requirement of a CA professional in the govt sector. This includes government banks, govt power plants, factories, etc.
Why to Pursue: The salary growth may be slow here, but you do get a pension plan later when you retire. If you aim for a career, where you do not want to involve in a proactive scenario, then a government job would be great for you.
4) Financial Sector
Another trendy sector that CAs can try out is the financial sector. Here an aspirant can choose among the various portfolio management firms, mutual fund companies, stock broking companies, etc. This is one of the best places for instant growth if you are into that.
Job Profile: A bachelor’s degree in CA would be of great help to try out in this field. Most employees at such firms do not even have to be full-fledged Chartered Accountants. But, high growth probability lies in those who are good with the accountancy aspects of this field.
Concerned Industry: Any industry that involves in stock broking, portfolio management, and other financial planning aspects. This requires one to be highly active in the real-time market scenario. Thus, this field will make you work harder, if you are up for it.
Why to pursue: There are high chances of growth here as the world of stock market and investments is very lucrative. There are risks too, but the right mind, calculation, and probability can help you gain the upper hand for your customers.
5) Family Offices
Another trendy area to try your luck at is a family office. These offices comprise of lawyers and financial advisors, who work to manage the assets of a rich family or organization. The work in this sector involves high intellectuality that needs to stay prompt for any investment opportunity for the client. CAs in this field will involve with big-time entrepreneurs who want their money secured and grown.
Job Profile: At least a bachelor’s degree in Chartered Accountancy, with knowledge of law. Besides, there may also be need of post-graduation in business administration, etc. You are mostly appointed as a legal and financial advisor to executive of top-notch companies.
Concerned Industry: The targeted industry is mostly related to UHNW (Ultra-high net worth) companies and families.
Why to pursue: This would be your ultimate goal if you want to live with the big players in the world of business. Income in this field is high, but so is the effort to prove your talent.
Thus, you can see that there are many ways to improve your career with multiple job opportunities after CA. Some are relaxed and may not involve a highly proactive life in the future. Others will demand you to work religiously to achieve the best of results. Choose your path wisely and become the creator of your own destiny in the world of Chartered Accountant.