“From the Balance sheet of humanity, to the Profit & Loss account of emotions, I am all in good books. I am a Chartered Accountant”. Millions of people in our country dream to become a CA because it is one of the most reverential, on demand and best-paid jobs in India. As per the PayScale, Inc., “The regular salary for a Chartered Accountant is Rs. 706,946 per year. The highest paying skills related jobs are Budget Management, Evaluation & Management Auditing, SAP Financial Accounting and Controlling, Strategic Accounts and Financial Advisor”.
Simply, it is one of the most profitable and dynamic profession that exists in the market today. Since the concept of globalization and privatization revolves around endlessly, CAs has been authorized to be auditors of companies in India as per the Companies Act. The core of all the business, CA course is one of the finest practical and theoretical education alignments.
Career Opportunities (India)
As we see the rising demand of CA’s in the market, but not everyone can clear the CA exam. Remember, it is one of the toughest courses to crack in India with passing percentage of less than 5 percent. Therefore, there is a huge demand for qualified chartered accountants in the job market today.
This professional degree course offers a lot of career options including, Chief Accountant, Chief Financial Officer, Manager/Chief Manager- Internal Audits, Lecturer or Professor, Head (Training), Chief Manager (System), Advisor to the Government and so on.
Among all, the top three careers are:
1. Chief Accountant: The role of chief accountant of a company is to serve several roles including the grounding of entire budgetary reports or documents related matter such as investment decisions for the firm. They also look in implementing financial strategies created by administration/ management and many more.
2. Chief Financial Officer: CFO also known as the Chief Financial and Operating Officer (CFOO) is a corporate officer, who is in charge of managing the financial risks such as planning, recording, reporting etc. of the company.
3. Manager/Chief Manager- Internal Audits: they handle the audit sector including, credit audits covering wholesale banking. They likewise tend to lead a group of auditors, interact with various stakeholders for smooth operation, find key risks and monitor various key aspects of the company that need to be enclosed during the audit.
Job Opportunities (Abroad)
ICAI has tied-up with various countries like Singapore, Canada and few more, the pool of career opportunities to abroad is growing enormously. ICAI has signed a MoU with Australia, which allows Australia to become an Associate member after submitting the required documents. MoU with the Canada ends by 2016; yet, they have initiated talks to continue the same. ICAI has also signed up MoU with England and UAE. Today, there is very high increase demand of professional well qualified Chartered Accountants in multinational companies around the globe which provides excellent pay package.
As the demands are abruptly increasing there seems to be very less Chartered accountants produced worldwide. With the correct guidance and putting that extra effort one can definitely crack the CA examination.
