I would like to discuss some facts about CA as a career.
1) Not more than 10,000 students clear CA final (both groups and averaging those who pass in only one group) in a year. This is a rough approximation taken but still this is a very decent figure to be considered.
2) Total CA students till now as per recent ICAI article: 9,90,000 students.
3) Total time a student takes to complete CA: 4 years
4) So, total number of people who pass CA in 4 years : 4*10,000 = 40,000 students
5) In the total 9,90,000 students, freshers would not be more than 20-25% because most of the CA final students, IPCC students and CPT students would be writing the exam again and again.
6) Even if we take the average life of a person to complete CA as 6 years: 6*10,000 = 60,000. Only 60,000 students can clear CA final. Whats the future of 9,90,000 - 60,000 = 9,30,000 students. Almost 9,30,000 students, a figure better to be forgotten.
7) If you join Btech, you are assured that you will complete Engg in 4 years, if not, max 8 years. If you sleep for 7 years in engg classes, still you can complete and have a degree.
8) If you go for MBA and pay some 2,00,000-20,00,000, you are still assured that you will clear MBA. If you don't get a job, you can still use your brain and earn 20,000-60,000 or even 1,00,000 by doing business or something.
9) For living, you just need to work out a formula to earn money, not just money even reputation and live happily. Simply, better than a Chartered Accountant.
10) My sincere request to all:
Coaching Institutes: CA is just a petty profession that doesn't need so many professionals and even ICAI cannot create so many oppurtunities. Don't say as if CA is life or everything because facts are cruel.
Students: Think twice. Reality is hard. I don't want to discourage you but wish you would understand the reality and plan your life accordingly right from the beginning. Don't start thinking after 4 years of investment in CA career. Have alternative plans but don't lose hope.
Conclusion: This is a real pain for me when I see so many young guys getting depressed in their very early age. Please don't take this in a negative way. Reality is hard please bear the pain and work with ground realities in mind.
CAclubindia
