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Ca final or general manager?

llllVICTORllll (Internal Auditor) (511 Points)

22 November 2011

Hi,

I am in a dialemma, i Hope you friends can give your opinion on the same

I am a CA final Student, thinking of attempting this may attempt, and from last 9 months, i am working as General Manager in a medium size company earning around 25K.

Now, With a very tight schedule from last 9 months i am not able to concentrate on my studies, and i am getting totally alienated from my subject nor am i able to concentrate on Final books for long

I am thinking of Quitting my Job and completly concentrate on my studies for next 5 months

How many of you agree with my thought? SHould i quit or is there anyother way that i should try out

I have tried getting up at 3 in the morning and studying, but you know being lazy and all it didnt go for more than 3 weeks

What do you people think? Quit and be unemployed student or be a Semi student General Manager?

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13 Replies

Viswanathan.C.P (Manager-Finance and Accounts) (332 Points)
Replied 22 November 2011

Yar,

It is better you quit and get passed CA than otherwise. Because as you work for GM ,you may not get leave for your studies and now once you complete CA you have lot of opportunites and not to work for 25000/- pm and u will get double salary.

Regard,

Viswanathan..C.P

Victor (CA IPCC/CWA INTER/CS EXECUTIVE/MBA(Finance)) (339 Points)
Replied 22 November 2011

From my view point you should quit the job and concentrate on finals ..... if you qualify as a CA then you can expect a better job than what you are today(G.manager)..... 5 months are enough to get good marks....

Lets see what other comments...

Victor.

Nagaraju HD (58 Points)
Replied 22 November 2011

Dont quit, try to study morning and evening....... its possible to clear

praveen (aa) (25 Points)
Replied 22 November 2011

get passion to pass out, you will be able to get-up at 3. leaving the job dont guarentee passing the exams.

also leaving the job depends on your family backgroud & money needs.

llllVICTORllll (Internal Auditor) (511 Points)
Replied 22 November 2011

OK, just to make my problem very clear....

Even though i am gettting just 25K salary per month, here i am like a king, can do whatever i want in company, so can experiment and gain immense experience which will be highly valued if i choose for service after i qualify

But if i quit, my financial backgroud isnt great, that i can afford the absence of money flow, but again i was lucky to have a very good principle during my articleship days and have confidence that i can do freelancing with regards to accounts and taxation from home and make small petty income

so, if i quit i will lose great experience and learning, if i dont quit, i am shooting at the dark for my may attempt where i dont know where the target is.

Now i think most people can understand why i am in a dialemma about quitting, when the choice is simple, "quit the job and be a CA".

Which should i choose, Qualification or experience? Money or study? .... its maddening more you think about it

UMAKANTH (Student) (64 Points)
Replied 22 November 2011

considering ur background, I suggest the below:

1.don't quit ur job.

2. make a daily calender for study

- during office hours ( u will not be busy the entire day) - take a theory subject

- at home

spend atleast 4 hours per day.

3. Study to the maximium possible on Sundays & Holidays.

4. Take only group at a time - an employer cannot give leave for 16 days!

5. Try to complete the theroy portion - atleast one reading in the office itself ( if it's Ist group)

6. Ask & convince ur employer to leave early by an hour; u can assure him that u will be available in office in case of urgency / absolute necessity.

If it's going to Grp -1

First of all download all the study materials / compilations from institute website. copy this in a pendrive and u can it to study in office!

If possible work for extra hours now to get leave for entire 8 days if exams.

Best of Luck

1 Like

vasudevan (.) (376 Points)
Replied 22 November 2011

Originally posted by : UMAKANTH
	Hi considering ur background, I suggest the below: 1.don't quit ur job. 2. make a daily calender for study - during office hours ( u will not be busy the entire day) - take a theory subject - at home spend atleast 4 hours per day. 3. Study to the maximium possible on Sundays & Holidays. 4. Take only group at a time - an employer cannot give leave for 16 days! 5. Try to complete the theroy portion - atleast one reading in the office itself ( if it's Ist group) 6. Ask & convince ur employer to leave early by an hour; u can assure him that u will be available in office in case of urgency / absolute necessity. If it's going to Grp -1 First of all download all the study materials / compilations from institute website. copy this in a pendrive and u can it to study in office! If possible work for extra hours now to get leave for entire 8 days if exams. Best of Luck

llllVICTORllll (Internal Auditor) (511 Points)
Replied 23 November 2011

Thank you all for your opinion, especially Mygos and Mr vasudevan(he was pming me) for you analysis and opnion.

Yes now the thinking is getting clearer. I will be deciding it in another 2 or 3 days and go by it nomatter what

Once again, Thanks all for your opnion

Shah Tarun (Student) (800 Points)
Replied 23 November 2011

Originally posted by : Mygos

Before you make a final decision, consider the following:
A. Your situation now:
* You want to be a CA. Only Final is remaining to clear.
* You are working as ‘General Manager’ in a medium sized co.
* You have a leadership role in your post (that is why you feel like being a ‘King’!) and an enormous learning opportunity beside getting a good exposure which will not only enrich your cv but also genuinely train you for Senior level selection when you will be in the job market (as a CA or otherwise). Obviously the employer too has confidence in you. You are getting a salary of25000 which by any standard is reasonable (may not be good or lucrative but is not ‘low’ too considering that the co is not large and you are yet to be professionally qualified for a high claim)
B. Your problems as on date are:
* You don’t think much of the salary (‘just 25k’) but as a ‘General Manager’ you have high level of freedom and valuable learning and experience gaining opportunity, in other words you seem to be happy with the job due to the brighter future prospects it may lead to irrespective of the salary package.
* Your financial background is ‘not great’ and lack of money flow may prove to be an issue
* You are keen to complete CA final but asap lack sufficient time to prepare for it
* If you quit you will lose (no longer have) great experience and learning opportunity
* If you don’t quit you are not sure to pass the final due to lack of preparation
So, you are in a dilemma whether to quit or continue in order to complete the CA.
C. Now consider the consequences of going for wither option (that is continue and do CA or quit and do CA only):
If you don’t quit
** You will continue to work as a GM thereby strengthening your chances of a better placement even after completing CA (in the employment market three things are of immense value beside the qualification – first, the address (that is from where you are applying – the co. and its image), second , your designation (as a working GM you will have much more credit than either as a former GM or some other candidate who is Assistant Manager or even Manager) and finally your nature of responsibilities and experience (it is very rare to get a job where you have freedom and trust to experiment and learn, in fact you may not get one at all in future considering the global market and economy position). When you apply for a position elsewhere as a GM no one will expect you to work in a lower designation unless it is really comparably a large MNC. For getting and negotiating a higher salary package in future does not depend on what you are getting now as every employer knows for the initial job the salary package really is not crucial as long as you can justify your worth through the experience and knowledge that you are gaining at a seemingly lower salary as a GM.

** You may not be able to clear your CA final in May attempt as the things stand today. But consider another dimension – if you really are determined and set yourself the goal of clearing the Final by
- doing proper time management and
- planned & focused preparation attempting one group at a time in May and November
-devoting more time to studies than you are giving at this moment
- since you have some autonomy at work place do a judicious priority allocation to your responsibilities for just next 12 months to limit your responsibilities and tasks without affecting your image and status (like sharing some responsibilities, delegating wherever possible, discussing with your employer and ensure you do what you have to do for some time etc.) . This will give you some temporary relief without affecting your role as the GM allowing you to devote more attention to the CA preparation than what you are able to do now;
- take reasonable amount of leave from duty during the week / 19 days before the exam (as you may have doe while doing exam during articleship – as you have the confidence of the employer it should not be too difficult to get this leave)
and clear it (as you did have an excellent exposure as an Article, focused preparation of the theory should make it possible). The chances are you will be able to clear the CA in 2012 and in worst case scenario at least in 2013.

** If you are able to clear CA while being the GM your not so great financial background does not matter so your confidence level will certainly be higher during the period you will be doing CA and thereafter.

On the other hand if you quit and go only for CA

** You will be doing the CA as an unemployed person though you will have whole day to yourself.

** There is no (absolutely no) guarantee you will be able to pass the Final by doing so in 2012.

** As you financial background is not great and you yourself have doubts , so lack of cash-flow may affect your morale and confidence adversely thereby affecting your studies; Remember when you are earning (amount matters but not critically) your life is much more smoother than being a unemployed student – which you will be if you quit.

** Just in case you are not able to clear the final in single sitting then you will be neither here nor there after a year or so (though hopefully you will pass and it will not be the case, but to plan you should consider all possibilities).

** After doing the CA, when you apply for the job as an unemployed fresh CA it may not be difficult to get a good job but your negotiating power and ‘employability’ will certainly be lower than what it will be as a GM with CA candidate. Most employer (specially MNCs) gives due credit to doing courses and professional qualifications while being in a job as that proves your strength, stamina and higher capability.
** Quitting will also reduce your experience period by the period you will take to complete the CA (if you do in one year you will have one year less experience than if you don’t quit and do it in a year).

So it is really your take, how much confident you are to clear the CA Final in shortest possible period if you quit and how will you feel without any clash flow over a period. In either case it will also depend on what will be the market situation when you will be going for employment after CA and your personal status as a candidate. So, think and decide.
Best of luck

Impressed!!!! What an Analysis yaar....

RG - A Helping Hand (Company Secretary) (13867 Points)
Replied 23 November 2011

No need to quit your job. Give some time to yourself and think again, plan again and read my article below:

How to manage Professional studies while working !

Over a period of time I have observed that continuing professional studies along with job is a very tuff job. In my life I have face the same situation and managed the same pretty well. Hence I thought let me take this chance to share my experience with you all.

As per my personal opinion it is not impossible to manage your job and studies both at a time provided your time management complements your time schedule of job.

I would advise you to just focus on what you want to achieve keeping in view the time you have in your hand after your job. Just imagine you have near about 4-5 hour in your hand after your office time. According to me by applying some method or time management and determination you can easily manage around 3 hours time for your study.

Trust me it is difficult but not impossible. I worked full time while getting my Law qualification so I know how difficult it can be. I used to study during lunch sessions and during travelling. I would also advise you to plan your weekends well in advance from your study point of view.

I can think of few tips from my personal experience which are given below:

MORNING STUDIES

For students who are working along with study the point below becomes very important. I would advise you to get up earlier in the morning and utilize your morning time for study. I know some of the students prefer late night study. But for working students the same is not advisable because of evening office tiredness.

Just trust me even just waking up an hour earlier could make a difference to your studies. So make a mind set to wake up early in the morning. This could help to get you started. I'm sure that it would be difficult in the beginning, but after a few weeks, you'll settle into the new routine.

UTILISE THE DAY TIME

I would also advise you to make full use of day time for your studies. You may use your lunch time for studying or discussing general topics. Always have your materials readily available so that you can study at any given time.

One more important thing regarding above 2 headings is always use the morning time for preparation of important topics and chapters. You may finish general topics in day time by discussing them with your friends or colleagues doing the same course.

TIME MANAGEMENT IS MUST

Yes as we all know managing studies with job is a very tuff task unless you have a well organized time table to manage both. So in this manner again time plays an important role. The importance of time can also be realized from the above two headings.

However if you are engaged in part time job yes you can have reasonable time to study. On the other hand if you are engaged in full time job you have to plan your studies out for effective utilization of your limited time.

STUDY DURING COMMUTE TIME

It is not easy for everyone to concentrate on study while travelling. However your travel time which is lengthy can be very handy if you can utilize it for your study. It is all about mind set once again. Select simple and interesting topics to study during your commute time. Again for this a proper schedule and planning is required.

FEW GENERAL POINTS TO BE TAKEN CARE OF WHEN TIME IS LESS

1. For some time you have to plan your leisure activities or in other words all you need to prioritize your activities. You may postpone few activities till your exam gets over.

2. You may study on a neutral place instead of your home. Getting out of home helps many people. Since being at home can often be distracting as you want to take care of things that can wait.

3. You may also utilize your working time towards your studies. While on work you can discuss topics with your colleagues who are doing the same course. In other words working as a group also helps.

BENEFITS OF STUDYING ALONG WITH JOB

I know for some student study with job is a very difficult situation. However there is another aspect of the coin which needs to be discussed. There are certain benefits which are attached with study along with your job. Some of them are:

You will understand the value of time because without understanding the value of time you can’t manage your studies with job.
You will learn how to effectively utilize limited to achieve higher goals
Your vision and view will be broaden because you develop the ability to achieve more in short period of time.
You will develop the ability of multi tasking which is very imp in today’s time.
You will learn how to utilize your work experience in your studies.

PRE-CONDITIONS FOR SUCCESSFUL STUDY WITH JOB

Let me sum up the discussion by mentioning some of the pre-conditions for successful study with job. These pre-conditions are:

Effective utilization of time.
Pre-planned schedule for the day; like what to study and when to study.
You must plan your vacations and holidays well in advance from study point of view.
Stick to the basics of study because you don’t get time for experiment with your study. To find out basics of study kindly refer the link given below:

BASICS OF STUDY PROFESSIONAL COURSE !!!

In the end I would say it is all about being dedicated and finding a balance. Many would say it requires "sacrifice" but to be honest I don’t think so. If you want something bad enough, then you shouldn't think of things you're giving up as a sacrifice. You're simply prioritizing according to your short and long term goals. I've seen many inspirational examples of dedication and prioritization.

You are requested to please share your views.

Thanks

Pavan Bharadwaj (Practicing Chartered Accountant) (353 Points)
Replied 23 November 2011

Boss, dont quit the job. Now, even qualified doesn't 25000 per month. Many qualified are job less now. So, continue your job. If you want to clear Final, manage your time accordingly and continue your job.

pavankumarcma (B.Com ICWAI (CA FINAL) SAP Consultant) (147 Points)
Replied 30 November 2011

Dear Friend,

What Ever the decision is .................All the best for your career.........You can do it

CA Sultan.........never quits (Financial Controller) (511 Points)
Replied 15 December 2011

Dear,

Take only one decision. Quit the job and concentrate on studies and become a CA. I had cleard my inter in May 2004 and after that i appeared for the final group II,i couldn't able to clear due to the insufficiant of time. I have family also. I hope this time i will clear. Still i have group I. I am also thingking about this. Now i am in 39. i am in foreign country earning around 1L PM and spending 60%.

Please give your suggestions.