The course of Chartered Accountants (CA) is hard, but the decision of what to do after completion of CA is even harder. Many students choose some common stream without even considering all the options available. The scope for CA students has widened from taxation and audits even more after globalisation.
The CA should be versatile in the present era. Select the subject that makes you more versatile than others. The subject itself provides an answer for jobs after CA. Possibilities are endless, what matters is how you mould them.
Here are some opportunities that the CAs can go for after completion of the course:
Taxation and Audits
The students can opt for taxation or audits or both. The student can opt for statutory audit, tax audit, SOX audit or others under audit and taxation provides the option for direct and indirect taxation to the students. Direct taxation includes Return filings, International Taxation, Taxation while Mergers and Acquisitions, etc. while indirect taxation includes GST returns, Excise filings, Appeals and Proceedings, etc. which can be practised by the students.
Taxation and audits are the most popular choice among students. The student can get specialisation in one or more topics.
Project Finance/ Financial Advisory/ Mergers & Acquisitions
The works related to Project Finance, Financial Advisory, Mergers & Acquisitions may seem few but their scope is very wide. They require the study of trends in the market and economy and the practitioner has to take decisions accordingly. These are the most glamorous streams for CA students. The students may require additional courses like Chartered Financial Analyst (CFA) to pursue them.
Investment banking is a job for CA students. IB has sub-parts to it like Private Equity, Portfolio Management, Investment Banking, IPO Support, etc. The salary of the individual depends on the service provided by him. The better the work, the more the remuneration.
Banking and Financial Services
Banking and finance is the largest recruiter of CA students. Sectors like Insurance, Valuation Companies, Mutual Fund Houses, etc come under financial services. The aspirant can go for loan processing, financial management, and market research among others. These sectors are similar to Project Finance, Financial Advisory, Mergers & Acquisitions and may also require a degree of CFA.
Knowledge Process Outsourcing (KPO)
The CA can also explore the world of KPO. It is the upcoming sector for CA students. The KPOs pre hire the students through campus placements too. Services like accounting, documentation, taxation etc are outsourced by the million-dollar companies of developed countries to developing countries.
The CA students can choose to go into the academic sector if they want to make a difference by teaching the students. They can join CA institutes, ICAI, or other commerce classes. You can do this along with your regular CA practice too. The remuneration may not be that good in the start but can be better than others if committed properly.
The corporate sector is the backbone of the country. The CA can choose to cater to the corporate sector if they like to work for a company. This sector provides multiple options and wider variations like finance, accounts, production, marketing, operations, development, internal audit, book-keeping and many, many more for the CAs.
There are a lot of career options after CA. The skills, knowledge and interest of the student can help him decide the stream he wants to go for. All the streams are highly rewarding for the deserving candidate. Choose wisely and act aptly.