Struggle is Real. Back after a long while since my last article.
Hello Friends,
I am primarily writing this as currently the Job Market is still recovering and getting your dream job in such circumstances is challenging if you are average student. I am writing this from my perspective and experiences, no offense to Rankers / 1st / 2nd Attempt Pass outs.
To be frank, while we pursue the CA course, we are told that after clearing CA life is set, but it's not true in every case. Generally, campus placements prefer 1st / 2nd pass outs hence, many CAs with multiple attempts don’t even make an effort to go for same. There are discussions on internet about low salary packages offered to CAs who clear after multiple attempts compared to those who clear in 1st or 2nd attempt. There are many Intermediate dropouts who are struggling to find decent paying jobs and are demotivated by their decisions of entering into CA.
JOB options after clearing CA
Practice
After clearing CA, you can start your own practice if you are keen and passionate about the work. Practice requires lot of hard work, dedication and time to be put into at the initial few years until you develop your client base. Practice can be set up based on your prior experience of work profile and specialization. Remuneration depends mostly on your clientele and work you do. There is no specific range and can be unlimited.
Job
Big Firms
You can join the big firms as it will be an advantage to have experience of big firms on your CV. There are all types of services offered by big firms and you can select which you have interest in and apply accordingly.
The catch here is that if you have cleared CA in more than 3-4 attempts then chances of getting placed mostly depends on your interview performance. So, improving your soft skills is very important.
MNCs
Similar to big firms joining criteria, one need to have great soft skills to enter MNCs. Most of the placements are dependent on your interview performance if you have cleared CA in more than 3-4 attempts.
Investment Banks / Hedge Funds
Entering into Investment Bank requires prior experience in finance industries and it is relatively difficult for CAs to be placed here as this industry is mostly dominated by MBAs and IITians / Engineers. But if you get an opportunity to join Investment Bank then do not think twice. Most of the placements are dependent on your interview performance if you have cleared CA in more than 3-4 attempts.
CA Firms
Last option is to join CA firm and grow to the senior level within firm. The advantage of joining CA firm is, you get exposure of different industries and work profiles.
There are many other emerging avenues apart from above as CA curriculum is comprised of many subjects and you can always decide your own path as per your interests.
Now the BIG question is If CA is not cleared then what to do?
This question is difficult to answer as everyone has different circumstances. But, my advice on this would be to have a backup plan, if everything does not happen in your favour. Many suggest to do certain short-term finance certifications. You should not be completely dependent on just CA course. I also made same mistake as there was no one to guide being the 1st member in family to even graduate and did not have a backup plan if things went another way around.
I would like to assert that CA is a degree which gives you the license to aboard the CA fraternity. But, the experience you gain is much important and in future your experience will only help you to achieve your desired goals. So, don’t be too much dependent on degrees and try to find good opportunities for gaining experience. You can relate this with 3 Idiots movie, as there is a dialogue which says Kamyab Hone Ke Liye Nahi Kabil Hone Ke Liye Padho.
Point being is, ultimately your experience and your interview performance matters to achieve your dream job.
Industry Disparity for Hiring
Another aspect while hunting for jobs is the industry expectations for hiring in big firms and large MNCs. They mention requirements like 1st Attempt Pass outs, having prior experience in big firms, having prior exposure to specific area, etc. In such scenarios your CVs are upfront rejected and not even considered for the profile. We say that there is no partiality in CA course, but this statement is partially true as partiality exists in Job placements of CAs.
It's about time, that this should be changed and candidates with multiple attempts should get a fair chance to explain their side of story, because every candidate does not clear exams in same environment and circumstances. Giving a chance to such candidate won’t change the world around him, but it will change the world for the candidate :)
PS: Hard Fact - Many firms / industries do hire on reference, so if you have one you are lucky.
The author can also be reached at kudvevishal@gmail.com
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