Career after CA: Important skills, career opportunities and salary

After completing a CA certification, the candidate can get jobs as an accountant in MNCs working across various domains. Know all about career prospects after CA here.

Chartered Accountant or CA is one of the most popular choices which students opt for after completing schooling in commerce or degree in commerce. Chartered Accountant as a profession involves around finance of an organisation or entity. The profession includes management of budgeting, business strategy, taxation, financial accounts and so forth. The demand for the Chartered Accountant is always set high in various organisations/ institutions to manage accounts, taxation and auditing. Hence, the employment opportunities after completing CA is in abundance considering that in India there are more than 6 crores taxpayers to which less than 2 crores CAs in India are in full practice.

Career after becoming Chartered Accountant facilitates many opportunities for the students in the following sectors:

Chartered Accountant: Important Skills

Candidates must possess the important skills as a Chartered Accountant while they set their career. Some of the important skills as a Chartered Accountant are:

• Ethics
• Commercial awareness
• Communication skills
• Self-motivation
• Analytical abilities
• Patience

Career Opportunities after CA

Before choosing any career candidates must be very keen on the industry they choose. Candidates can opt for any of the following options for a career after completing Chartered Accountancy course.

1. Finance Manager
2. Tax Manager
3. Certified Public Accountant

Finance Manager

As a Finance Manager, the employee monitor and develops the departmental budget. The finance manager helps in setting the company’s future budgets and make a relevant financial forecast. They are responsible for timely and reporting on various aspects. The candidate must show great proficiency in working with various financial aspects.

Desired skillset:

• Analytical skills
• Microsoft Office suite

Finance Managers can move from this position to other positions mentioned below based on their performance and accuracy:

• Senior Finance Manager
• Financial Controller
• Finance Director

Tax Manager

As a tax manager, the person manages all the tax compliances and reports with the federal, state and local tax laws within the organisation. The risk manager works accurately to reduce the risk of an audit. Other responsibilities as a task manager also involve Internal Public Offering (IPOs), mergers and other acquisitions.

Desired skillset

• Proficiency in Microsoft Office Suite and QuickBooks
• Efficiency in accounting software tools
• Interpersonal skills
• Attention to details

Tax Manager can move from this position to other positions mentioned below based on their performance and accuracy:

• Senior Tax Manager
• Tax Director
• Finance Manager

Certified Public Accountant

As a CPA the accountant handles the reporting/audit processes, tax, accounting, individual clients or corporations. They might have to work for longer hours especially during the annual tax season. CPA performs audits to make suggestions on improving recordkeeping and bookkeeping process for their organisation.

Alternate Career Options after CA

Some of the other career opportunities after completing the ICAI CA programme are:

1. Associating with consultancy firms
2. Practice CA
3. Entrepreneur
4. Civil or Government Service
5. Associating with industry
6. Insurance sector
7. Teacher
8. Join CA firm

Associating with consultancy firms

For the current generation being associated with the consultancy firm is of greater interest. It becomes one of the challenging tasks to be a part of a consultancy firm. Herein, the individual attains several positions based on the years of experience and efficiency from manager to a senior manager to associate director and partner.

Practice CA

Candidates as newly qualified Chartered Accountants can practice sole proprietorship, however, due to intense competition, it becomes a challenging aspect. In this competitive world, it becomes difficult to perform due to pressure from the client. It may also involve huge costs which might not prove worthy. Candidates must start the partnership firm to widen the scope of services. Newly qualified Chartered Accountants can associate with the following to practice CA:

• Cost/Chartered Accountant in practice
• Actuary Professional
• Company Secretary in Practice
• Advocates

Entrepreneur

As an entrepreneur, the CA must possess the desired skill set as mentioned above. As an entrepreneur, one must be creative and should aim for the growth of the industry.

Civil or Government Service

One of the popular options opted by the newly qualified Chartered Accountant is to pursue government jobs. After completing Civil Services courses one can attain positions in the Security Exchange Board of India (SEBI) and Income Tax Appellate Tribunal (ITAT Tribunal).

Associating with industry

This is one of the common career options opted by the Chartered Accountants for starting the career. Candidates can be employed in the sectors such as Information technology, Manufacturing, Automobile and so forth. In such Industries, the employee has to meet the Corporate challenges. One attains a higher position by consistency and efficiency in work.

Insurance Sector

Candidates can associate themselves in the Insurance sector which involves risk management and other insurance-related work. CA must possess sound financial knowledge to ace in this sector.

Teacher

One can work in the top institutes or coaching centres to train future aspirants. CA can opt for the profession of a teacher as a part-time job.

Join CA firm

Chartered Accountants can work in CA firms and can pursue their careers in Internal Auditing, Forensic Auditing, Tax Auditing, Accounting & Finance, managing treasury functions and so forth.

Skills Affecting Chartered Accountant's Salary

Average Salary Offered

Check the table below to know the average salary of the Chartered Accountants:

Courtesy: PayScale

Read More:

• Management Accounting Certification in India
• Cost Management Accounting