Chartered Accountancy is a prosperous professional career in India. Chartered Accountants enjoy a statutory monopoly in audit of financial statements under various statutes in India. Apart from professional practice, some CAs work in industry as financial and general management positions such as CFO and CEO. Chartered Accountants work in all fields of business and finance, including audit, taxation, financial and general management. Some are engaged in public practice work, others work in the private sector.
This is deemed as a difficult professional course because of high standard of exams and training. But now a days, it is a common tendency to join the CA course due to applicability of CPT which is a objective type course. Actually most of them are not aware about seriousness of the course. . Many of them struggled in middle of the course and after failing one or more time they give up the course in between. The level of P-1 (Ex foundation course) was higher than cpt. In past, the only persons who had extreme desire to be CA, join the course. I am here giving some examples of my friends and connected persons who pursued CA course, but could not clear finals. They wasted their valuable time, money and efforts by giving up. They think that they made a mistake by joining the course on basis of keep up with the joneses. They forgot that they earned very important practical experience and knowledge about the field. They just feel that CA is not suitable for them. Some of them joined private jobs less than Rs. 10,000 per month. Others are preparing either for Govt. jobs or doing another courses.
The number of quitters are about 50% of total ca aspirants whom I know. They give such logic less excuses, which makes me think about actual reasons behind them. Nota bene (take a look) at some of them:
1. My parents want me to do a job or join business for earnings.
2. There is pressure of family to merry and get settle.
3. Even after completing CA course, there is no guarantee of job with handsome pay or stable career.
4.There is more hard work and results i.e. success ratio is very low. If I would do same hard work in any other area, I will definitely succeed.
5. Business is best or Government job is best and so on.
I agree that marriage and support to family via earnings is important in life, but not at the cost of a career that you chose. Pvt. Job may give you early earnings but it will not provide you satisfaction at a moment. For earnings, one can do part time job life accounts, home tuitions etc. Otherwise you will surely think in future that conditions would be different if you would chase your desired target. It is right to say “ Do what you love and love what you do”. So once you start to do something, you should love it. Marriage is not a obstacle in doing CA. More than five of my friends are doing CA after marriage. If you relinquish CA for whatever reasons after joining, then think! Will you leave your wife after marriage for whatever reason. I know that this comparison is not justifiable. But in my opinion career is not less important in life than wife. For stable career, I can bet that if you sincerely do your study and training then you will have a bright career. Result in not less in comparison of hard work. Take a look on this:
Indian Administrative Service: About 850 candidates are finally selected each year out of the nearly 550,000(2010 data) but only a rank in the top 80 guarantees an IAS selection — an acceptance rate of 0.025 percent, which makes it one of the most competitive selection processes in the world.( Source- Wikipedia)
Thomas Alva Edison tested thousands of filament materials from the prosaic (metals) to the exotic (tropical vegetation) in a worldwide search. The final result was an inexpensive, easily manufactured 16-watt lamp bulb running on DC current for up to 1500 hours. (Source- http://www.fi.edu/learn/case-files/edison/lamp.html)
On the other hand, CA exams have the results between a range of 10 to 30 percent. CA also enjoys dignity and respect of profession. Even a CA can earn more than an IAS officer. Yes, business is best but only for those who succeed. There is less success ratio due to competition. In addition, a CA can also do business, but a businessman cannot do work of CA. Government job is limited and you cannot enjoy freedom like you can enjoy as CA in practice.
If any issue is still uncovered, feel free to express in comments section so we can discuss further. My sincere advice cum request to all CA aspirants to try at least 10 times and think at least hundred times before quitting such great career opportunity. We are not just a community but we are a family. Search CACLUBINDIA for required motivation and guidance.