30 year old looking for career change - ca

IPCC 875 views 5 replies

Arun Kumar

IT Analyst

34 Points Joined March 2010

Hello All - I am in need of some serious advice.Here goes my introduction

- Chennai Based 31 year old Guy ,Married , Has two Kids

- Qualified as Electrical Engineer and Employed in the IT Industry for Last 9 years

- Current Pay is 12 Laks/Annum

- Been Involved in Stock Market for couple of years now and always been fascinated by Finance Industry

I wanted to Pursure CA to enhance my Knowledge in Finance and make myself more employable.The engineering degree has lost its sheen and while my friends at work enjoys their leisure time happly, I spent time in Stock Market and is LOVING it to the core.so have decided to take this Learning to the next level by pursuing the CA.My question

1) Will i be able to become a CA at this age of 31? I have time everyday from morning 6 hr available in the morning( i work in 12 pm to 9 pm shift only) and all weekends.Other than basic family chores i would be able to sincerely study and do the hardwork?

2) How long will it take for me to complete CA? I do not want to do it fast track considering my full time Job but may be within 3 to 4 years?

3) May be if things dont go well after 5 years from now(would be 35 yrs old then) and if i have completed my CA, might shift from my software Industry Job to a Normal CA Job for lesser Pay? would that be possible?

4) I read about 6 months articleship.Should that be done FULL Time Compulsorily? Is there any option for me to continue my Full time Job and work with an Auditor for Half day for the articleship?

Thanks in advance for your help in answering my questions !!

Replies (5)

Ashish Bahety

CA Practice

28 Points Joined March 2007

I think better u should do CFA, rather than CA.

Jithin

Learner

1057 Points Joined May 2010

Hi Arun, you will have to undergo 3.5 years of articleship in CA. There is no specific exemption from articleship for employed people(however, there is such exemption for cost accountancy course in respect to certain jobs) and so you will have to resign from your current job. To be honest, I dont think that is a viable option. Since you are specifically interested in stock markets,etc. maybe you can enrol for CFA.

Here is a link wherein I have replied to a similar query(read the queries by 'Peace' and my replies). Hope it helps. /forum/what-to-purse-after-b-com-general-ca-cs-cwa-293042.asp#.VNr8J-aUetc

If you are interested in cost accountancy, pls check out this link and read my reply to know the jobs for which exemption from training is given for the CMA course. /forum/cma-while-working-in-engg-sector-307515.asp#.VNr78uaUetc

You can also opt for CIMA. Here is the link of CIMA website https://www.cimaglobal.com/

Karishma S

Student

45 Points Joined February 2015

Arun, I am 37, MTech and in IT for 15 years now. I am convinced that the future is in Auditing/Finance. Age is no bar for education in some areas in India.

Sadly ICAI rules do not allow working full time while doing articleship. They are pretty strict about it. And I researched and researched, there is no way to pass CA with just books and no practical knowledge. So I am quitting my job to do the CA program under Direct Entry. And working full time alongwith articleship, even if it were allowed, is damn painful. CA course is rigorous. We will easily sail through the IT subjects etc, but the Accounting/Taxation and core subjects wont be easy.

Of course my situation is a bit different from yours because my husband works full time(We have 2 kids as well). However, we have thought about it and have decided that we can life with half the income for the next 4 years while I am studying.

You are right that starting salary of CA is not that great. But since you are interested in stock market, am sure you could setup your own broker company and do well. I researched the CFA course. Yes it teaches you how to read a balance sheet, BUT only a CA course teaches you how a balance sheet is created :), so you can see holes on a Company Report straightaway.

Good luck with whatever you decide.

Arun Kumar

IT Analyst

34 Points Joined March 2010

Thank you friends for your replies..I totally understand that i wont be able to become a CA Final considering the fact i wont be able to LEAVE my full time job as i am the only bread winner for my family.However for my self satisfaction/Knowledge purposes i wanted to apply for CPT and pass it first.Then appear for IPCC and complete the two group exams. I hope for completing the IPCC group 1 and group 2 exams no practical training is needed and i can continue my full time Job.

In the Past i think clearing the exams till this level was called CA Inter and i hope its not called in that name any more but Passing the CPT/IPCC Group 1 and Group 2 would certainly add some advantage to my profile and also enhance my Finance Knowledge i hope.Please advise if this is possible..

Jithin

Learner

1057 Points Joined May 2010

Hi Arun, yes, you can complete upto IPCC level without doing articleship, in case you register for cpt and doesnt opt for direct admission to IPCC(Actually there is a provision for graduates to take direct admission to IPCC wherein you start articleship as soon as u join IPCC.)

As far as knowledge is concerned, yes, it will definitely give you a better insight into areas like accounts,finance,taxation,etc. If you take your studies seriously, by the time you clear IPCC, you will be having a good understanding of the basics of accounts and finance and related areas. I dont know how much value addition can IPCC bring to your career. It will obviously make your C.V. more diverse. But it would be much better for your career if u go all the way and do a professional course in its entirety. I know you cant complete CA but you can do CMA. From the website of ICAI(Institute of Cost Accounatants of India)), it seems that there is exemption from practical training for those in IT sector. I say you do CMA as well as CA upto IPCC level.