JOB V/S PRACTICE AFTER CA
By CA, CPA Vinod Kumar Agarwal
- Having got through CA Final, the question that revolves around CA fresher is whether to pursue job or practice.
- This is dilemma that mostly every CA fresher has faced.
- Sometimes your heart says one while brains say another.
- Each alternative has his opportunity cost.
- This makes decision even tougher.
- Practice may yield better returns but often less explored by fresher.
- It has never been easy for a first-generation Chartered Accountant to start his/her own practice. Therefore, most of us join either Industry or a CA Firm.
ADVANTAGES OF DOING JOB:
1. No investment -
- You will get the periodic salary and don't have to invest anything.
2. Specialisation –
- In a job, you mostly choose one domain and as you keep working there are scope of specialization in domain you choose.
3. Early returns –
- Every month, your bank account will be credited by monthly salary.
4. High returns in Initial years –
- Generally, the initial pay scale for CA students is high (i.e. 50,000- 2 lakhs per month).
5. No need of Networking –
- If you do a job then you don’t need to make networks or build clients because that is taken care of by the employers.
ADVANTAGES OF PRACTICE:
1. Diversified learning -
- In Practice, you must continuously keep learning.
- You must be updated about everything
2. Better Returns in Long run –
- In long run, your earnings are unlimited.
- The more clients you can fetch, the better returns you can make in long run.
3. Satisfaction –
- As working in your own firm gives more satisfaction than working under someone.
4. Autonomy –
- You are your own boss.
- You would have full freedom of what you want to do, what work you want to do, and how you want to delegate authority and responsibility
- Sometimes you may earn less, but you have authority, and it gives you satisfaction and free of work pressure.
CONSIDERATIONS TO BE MADE WHILE MAKING DECISION
- Do you want to take up risk in initial years or not?
- Do you want to be employee or your own boss?
- Early Returns or Scope of Unlimited Returns?
- Are you good at building networks or not?
- Investment or not?
- Specialisation or Diversified Learning?