Which is better: a full time CA job in a reputed organisation or independent practice?

With growing Indian Economy, all Medium and Large enterprises hire CAs in their Finance and Internal Audit departments. Job entrails financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes, etc. CA, in the corporate set-up, is a support function, therefore, growth opportunities are limited within its specialisation. Very rarely, CA moves in other management functions unless they acquire additional qualifications or skills. Although, to establish as an independent consultant, CA has challenges. I am of the opinion that CA must evaluate working as an independent consultant for following reasons: (a) Potential to earn is very high as an independent consultant. (b) External consulting means you will be able to avoid all the politics drive people crazy in organisations. (c) You will be seen as an expert in your area of expertise. (d) Having own consulting practice means more flexibility in working hours and time. (e) CA consulting is a respected profession. (f) Opportunities to constantly upgrade knowledge. (g) You can make difference in your client's organisations and business by your expertise. (h) You can do things of your own. (j) Opportunities to travel

1 Upvote 1 Upvote 0 Downvotes

• • Report Abuse
• Comment

The opinion that CA must evaluate working as an independent consultant for following reasons: (a) Potential to earn is very high as an independent consultant. (b) External consulting means you will be able to avoid all the politics drive people crazy in organisations. (c) You will be seen as an expert in your area of expertise. (d) Having own consulting practice means more flexibility in working hours and time. (e) CA consulting is a respected profession. (f) Opportunities to constantly upgrade knowledge. (g) You can make difference in your client's organisations and business by your expertise. (h) You can do things of your own. (j) Opportunities to travel.

0 Upvotes 0 Upvotes 0 Downvotes

• • Report Abuse
• Comment

Hi, If you want to go with practice and if you ready to sacrifice your work-life balance for initial years then go with practice but before you start get some experience for the same by associating with a mid-level CA firm. Else go for a job in some reputed organisation and work hard for growth.

0 Upvotes 0 Upvotes 0 Downvotes

• • Report Abuse
• Comment

CA Practice a real test of life. Good quality of patience with extra courage to practice is a basic mantra to decide for public practice. The qualification opens the opportunity to set up independently as a sole practitioner. A member opting for public practice shall have a success rate based on intense or diversified article ship. If you are having tons of patience, go ahead with your own practice otherwise join some established CA firm. In order to remain focused in the chosen area of practice, it is necessary for a CA firm to carefully set short-term and long-term goals. The passing out with flying colors from the institute of Chartered Accountants of India in finals provides us two directions to explore, either to opt for a job in the corporate world and to start a public practice. It is important to understand that this is a very important period of transition. Whether you are moving into a new work environment of public practice or learning the ropes of working a regular nine to five in starting out in an industry to take up the first job of your career, there is a lot to understand before venturing out. An increasing number of CA graduates these days prefer to join corporate than set up their own practice, as real estate and infrastructure investment costs spiral. Data with the Institute of Chartered Accountants of India (ICAI) indicates that this year, the number of working CAs will, for the first time ever; surpass the number of practicing CAs in the country. Many believe that with increasing employment opportunities, practicing CAs will be 20%, while working CAs will be 80% by 2020. The number of women CAs will increase to 30% in the next decade from the current 16%. In the early 1980s, the total composition of CAs was 80% in private practice and 20% employed. Post-1991, things have changed dramatically. Eighty percent of CAs will be working for the industry by 2020. Over the past decade, 90% are in jobs and just 10% are in private practice, says Tamil Nadu Manoharan, A Padamshree awardee, former ICAI President and present Chairman of a large PSU Bank.

0 Upvotes 0 Upvotes 0 Downvotes 4 Comments

• • Report Abuse
• Comment

In my opinion, a full-time Chartered Accountant job with a reputed firm would be better off than going for independent practice after completing your Chartered Accountancy. This is because opting for independent practice would require referrals and influential contacts and also a good initial investment. On the other hand, if you work with a reputed firm as a full-time Chartered Accountant, you would require no referrals or the initial investments. Also, there you would be open for experiencing the corporate culture at the first hand and can network with people. Salary would not be an issue because it would be lucrative in both cases whether you go for working with a firm or set up your own practice. Also, if you have no past or family background in Chartered Accountancy, it would be a tough task for you to set up your independent practice as well as establishing yourself as a reputed Chartered Accountant. So in this case, to be on a safer side, joining a reputed firm as a Chartered Accountant would be a safe bet I would say.

0 Upvotes 0 Upvotes 0 Downvotes

• • Report Abuse
• Comment