naresh (to be placed) 20 December 2011
CA is a wealth of oppurtunities. We have our own fields....
Our Monopoly areas: Accounting, Auditing, Tax
Our Competition areas: Finance, Strategic Management, etc with MBA's and Information Technology, etc with engineers.
There are less than 2 lac chartered accountants while MBA's and Engineers were in simply more than 30-40 lacs.
Even there is oversupply for MBA's and Engineers still more number of guys were employed.
Coming to us, there are hell lot of oppurtunities. We compete for jobs with MBA's in their own industry and with the Engineers in IT field and also enjoy monopoly in our own field.
Whats the need of the hour?
Specialisation: Many of the young CA graduates think their job is over once CA is completed and they just search for jobs without any direction. But the fact CA is just a base which introduces us to oppurtunities. ICAI helps us in branding us as a standard quality but the next job is to prove oneself as a brand. ICAI is a brand but we are not. We need to develop ourselves as a brand.
What we need to do? We need to be proficient in one specific field. This could be a routine word but you need to take it seriously. Take one more year to prepare yourself for a particular field where your interests lie. Don't go for money or a CTC based profile. Money will follow you soon once you mark your specific field and create yourself a specific field. Know that it takes sometimes 10 years to become an expert in your specific area. Let me give an example.
You want to become an IFRS expert and your intended industry is Insurance. Think of it as an oppurtunity and start preparing yourself. 10 years down the line, you would be one of the preferred destination for IFRS in Insurance Sector. You can command your salary - 20-25 or 30 lacs, you can demand and join that company which agrees to give you that much.
Take SAP/ Take IT Audit.....whatever know the requirements and target the areas where you need to improve.
Our only problem is in choosing the area of specialisation and end up in a field as the destiny determines instead of a conscious decision. We will take a involuntary decision based on the job we get.
If you have the talent in a specific field, you will surely get a job. May be it may take some months sometimes but surely you would be rewarded in the field.
Why only specific sectors, you can even take up business and take more risks. If we have done CA, it doesn't mean we have to put up a firm or joing BIG4 or some accounting job. Think innovatively and create oppurtunities for yourself and also for the juniors who follow you.
We are studying MBA finance subjects also. MBA candidates go for businesses. Whats the difference that we cannot go to business and think only about practise, job or accounting. We are in a more secured profession compared to any other professsional. Then why we need to fear to take risks. Broaden your horizon, think creatively and build businesses also.