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CA/CS/CMA: Job or Practice?

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What to do after qualification? Job or Practice?

This is been always burning a question for every student who is pursuing professional course like CA, CS, CWA (Now “Cost Accounting”) what to choose after cracking final examination? Whether to jump into own practice or to enjoy and adopt corporate culture by getting into the employment! Most of the times almost all the students complete their articleship at practising professionals and they get very limited exposure to work in corporate industry, however it restricts their outlook towards the industry experience. To work FOR big corporate industry as a third party and to work IN a Company are altogether different aspects. I believe based on my very short experience as a professional I can throw some highlight and enlighten to some extent about this scenario:

Market conditions and demand-supply bridge:

Being a rapidly developing country, India is exposed to heavy investments from the foreign markets and starting up of new businesses at very large scale and hence professionals like Chartered Accountants, Company Secretaries and Cost Accountants plays a vital role in management advisory and corporate consultancy. “Demand and supply” is the basic principle of economics. There is no single sector which is unaffected due to variations in demand and supply. Any professional who is at the stage to decide which “path” to be chosen, he should consider the market conditions as well. Gestation period is also supplementary factor for newly formed business organizations. It also differs from profession to profession.

Employment – A steady road of career:

“Stable and secure Income” is always been a plus point in favour of employment. Students prefer to play defensive at this stage. Most of the time I have observed mindset of students is very clear! To work as per the timelines set by the employer, enjoy the weekends, make the most of handsome perquisites and your bank account gets credited by end of the month! But this is just a one sight, a very famous English quote “grass is always green from another side”. You should ask yourself some questions, are you satisfied with your existing job profile? What is your long term goal? If these questions are answered well, it proves you have made a right choice and you are following a right path of your career. In corporate industry, you cannot be limited only to your core profile. Apart from the profile given, other beside the point assignments are also associated which makes very difficult for the candidate to decide the profile. It is recommended that each one should be very alert and cautious while accepting a job offer which suits your degree.  

Practice – a road with ample of challenges:

“Practice – I can or I cannot” is only the internal confidence which boosts you to make decision. Each one should ask themselves very important questions, are you ready to take up challenges on daily basis? Are you ready to sacrifice money factor at initial stage. Will you be firm on your stand even after sufferings from business losses? Its world proven principle “higher the risk higher the rewards”, but the risk should be calculative. Every big Company has started at very small level. Even “Apple” started in one room. You have to decide the extent of risk you can take. Your GOAL and your AIM always matters a lot to decide the path of business. Someone has rightly said, “You can become successful beyond your wildest dreams”. You may not get air conditioned office, perquisites and other amenities at initial level. In practice, you have to wait and you have to acquire these things. In your office, you play different roles at a time, you act as office boy simultaneously you act as the owner and you have no choice. In business, you have hundreds of bosses. Every day is different than earlier. You are your own planner. No one sets timelines for you. The business world is highly unpredictable. Mind it, self discipline concept matters a lot at your office, if you are undisciplined, you cannot expect from your employees to be disciplined. You meet number of people and they are from different categories. Your client might be Managing Director of big Company or simultaneously a politician as well. It is necessary to adopt required skill set to deal with various people tactfully.

Conclusion:

Ultimately it is the choice of the professional whether to go for an employment or for a practice. There are no concepts of advantages or disadvantages. It all depends upon your goals, your aims, and your dreams. We should not forget one aspect, whatever we do; it should be out of our liking and our areas of interest and not only for the sake of money. Run behind the knowledge, money will follow you later.           


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