With the increase in the scope and area of economics and finance, the scope for Finance Guys has increased a lot. But everyone knows about the recession, which has hit the market a year back but the impact is going to be there for at least 1 year more.
A small Guideline and advice to my friends those who will be coming in the Outer world of Economics and Finance.:
Everyone who clears CA exams and get ready for the Campus, has much expectations from the companies coming in the ICAI campus. Everyone normally expects 3 P’s from the companies,
(1) Pay ( A good and handsome salary for the start up)
(2) Position ( A wish to work in the area of the interest)
(3) Place ( May be at home city or in particular Metro cities)
Last 3 campus interviews were very disappointing and some have to compromise with all or some P’s.
Before discussing the importance of 3 P’s, First you really make up your mind either you want to have your own CA practice or want to join Industry. Both have their own Pros and Cons.
- Industry: Wide area of scope, good pay packs, good position and stable income.
- CA Practice: Status, Good Income but not that stable, Wide area of practice, Can move ahead with the specialization in the particular area like taxation, audits, consultancy etc.
I will like to discuss about the Industry Scope as I am attached to it directly.
A. IMPORTANCE OF 3 P’s:
1. Pay: The start up salary will decide everything in future. Your experience, your skills everything will be secondary point when you want to change your companies. Every company normally have the criteria to increase the pay upto 30% of the salary you are getting currently.
So at time of Interview be clear for your expectations about the salary.
2. Position: Everyone has particular wishes to have the position in the company or in particular industry. Some who are specialized in taxation will like to join the industry which offers taxation department. Some wish for the audit department if they are good in finalization or in audits. Try to have the field of interest as once you join any work it will be monotonous. Being a youngster we don’t like to do monotonous jobs. So to get interest in the job it is necessary to have the work profile in the area of interest.
3. Place: Some friends may not like to leave the home city or some friends like to go to particular cities. I will advice to ask for the Metro cities where you can speed up your life and will get good exposure.
PLEASE SELECT YOUR P’s PROPERLY MY FRIENDS.. IT WILL IMPACT YOUR FUTURE.
B. SELECTION OF INDUSTRIES
There are many industies where you can join. Endless opportunities, Endless scope.
BUT when you join particular industry its very difficult to change to other industries in future. Mainly from service industry its difficult to go to manufacturing industry. For e.g from banking industry its difficult to go to manufacturing industries. Many may say that it is easy but it will also depend upon your job profile which you were having in the earlier industry.
Also don’t change your job every now and then even though you may get some opportunities. Your resume wont look that good and the bigger companies hiring you may find it risky to take you as it is not certain whether you will stay with them or will leave. So try to maintain stability with one company for atleast 1 year.
C. Wait for Campus Interviews?
Looking to the demand in Industries and the company which are coming in Campus, don’t completely rely on the Campus. Try searching jobs online and in the market. Everyone should go for Campus placements, but don’t completely rely on it. There are good opportunities for freshers’ also in the open market. Try to search and grab one.