Career Options After CA

Certified accounting is at the core of any business, be it big or small. The work of a Chartered Accountant includes auditing, taxation, accounting, and financial planning. This can be a highly tough yet rewarding task. It is correct to say that the Chartered Accountant work is usually full of various hurdles, which of course require great courage and leadership skills. However, it also offers many ways to turn dreams into reality. In short, it can be said that the life of an average CA is all about respect, leadership, and opportunity. So, everyone is curious to know about career options after CA so that you can experience growth in life.

Below is career options after CA that you can take advantage of for better growth opportunities:-
1. CFA (Chartered Financial Analyst): A CFA is an excellent choice if you want to play a big role in investment banking. Career opportunities under the CFA include portfolio management, investment banking, stock analysis, research analysis, auditing, and more. The salary earned under the CFA is also good compared to many other local courses. After the CA, your growth will be only in India, but the CFA also opens up many global opportunities.

2. ACCA (Association of Chartered Certified Accountants): Pursuing After completing your CA, ACCA will enlarge your career opportunities. As an ACCA member, you can work in various industries and MNCs. You will find additional information on UK GAAP, IFRS, international law, meaning opportunities in world markets.

3. Practice: This is indeed one of the toughest things to do as a newly qualified accountant. In today’s competitive world, one cannot simply operate as a sole proprietorship due to intense competition, pressure from customers, etc. One also can explore the option of joining an existing (medium size) company as a partner.

4. Pursue Government/Public Service: These are the most flexible jobs suitable for those who are interested in government jobs. You can take courses in public service and then take up positions as president of the SEBI (securities exchange board of India), chairman, and ITAT tribunal (Income Tax Appellate tribunal). This position can only be achieved by working for a few years in government organizations.

5. Becoming an Entrepreneur: Being a successful entrepreneur is certainly everyone’s dream. Entrepreneurs need to be focused and committed to growing their businesses. As an entrepreneur, you need to have innovative skills, creativity, analytical thinking, broad-minded business tactics, etc. To start a business, you must first work to gain work experience and become a successful entrepreneur. The entrepreneurial spirit must be unique and reflect a diverse expansion, and strive for business growth, not just survival.

6. Forensic Accounting: This field includes Chartered Accountants qualified to investigate insurance claims, commercial fraud, civil litigation, and occasionally personal injury cases. Larger companies usually have highly specialized departments that handle the areas in which Chartered Accountants.

7. Project Financing / Financial Advisory / Mergers and Acquisitions: While these areas are not quite the same, there are many similarities in your work, so that we will discuss them together. Along with investment banking, these areas are considered the most glamorous of all the profiles a CA can have. This field is also very useful in terms of job satisfaction and salary. Many networks need to be linked to generate business. Employers looking to employ in this area often look for professionals with additional qualifications such as CFA. However, these areas are highly dependent on market conditions, both from an attitude and a business point of view. There are no guaranteed or recurring deals from the same customer. During a recession, these areas will grow very slowly. Companies have to lay off employees during a lack of business activity during a market crisis.

8. Investment Banking: This is a “dream job” for many fresher CAs. This job requires a high level of proficiency in financial management and MS Excel. Again, CFA has come a long way in developing its investment banking career. It also has various sub-branches, i.e., Private equity, IPO support, investment banking, portfolio management, etc. Compensation is based on results in this area will likely be the highest compared to other fields. However, this field is also heavily influenced by market factors. Several investment banks went bankrupt during the severe recession. This has resulted in job losses for thousands of professionals. On top of that, this profile is embarrassing for really challenging work hours.

9. Outsourcing: Whenever we say about the term “outsourcing,” the first thing that comes to our mind is call centers or BPO. But it is sometimes surprising how well known we are about the size of the KPO industry and the opportunities for certification bodies. The KPO sector is the main recruiter for CA. It also employs many students who have completed their membership and are waiting to pass their final exams. Accounting, tax, law, compliance, research, financial data management, documentation, ERP implementation, etc. These are just part of the process by which companies in developed countries outsource to less developed countries. It’s a billion-dollar industry getting more CA. Most large companies also have their outsourcing units. The industry is known to pay well, but not with rich experience when we talk about knowledge development and job satisfaction, as the work is mostly repetitive.

10. Academics: For those who don’t want to work at desks and want to keep in touch with science, this sector is one very good choice. A person can take up teaching positions at CA educational institutions, commercial diploma training courses, some postgraduate institutions, or ICAI. Plus, it doesn’t even have to be a full-time job. You can enter science together with your work/practice. You also have the opportunity to set up your coaching agency for a very reasonable investment.

Well, these are some of the options a person can explore after making a career in CA. We at Book My Lectures are always available to provide end-to-end assistance for aspirants passionate about achieving goals in their lives. We have the best faculties who provide best video lectures for CA, CS and CMA for these specific courses, making us one of India’s leading online platforms.

Contact us today.