Chartered Accountancy is an honourable course which equips an individual to be an expert in the Indian accounting and taxation laws. CAs are taken to be knowledgeable and experienced individuals who will be able to add value to the job they do. Nevertheless, if you’re a Chartered Accountant who wishes to explore global opportunities and get experience in MNCs, or if you’re interested in pursuing a career abroad in the same field you’re working in, then you might want to consider pursuing CPA (Certified Public Accountant) to open up your arena of career opportunities.
What are the added advantages one can get by pursuing CPA course after CA?
· Scope: Being a CPA one can go abroad and set up their own practice or get employment by working in the same field you were working as a CA. This would work in the favour of individuals who wish to settle abroad.
· Global Opportunities: Now that the world is a global village, it is important to understand the various opportunities awaiting you outside India. In order to tap these opportunities, one must expertise not only in Indian accounting and taxation laws, but also be well aware of the basic principles which govern entities worldwide. For this, knowledge about IFRS AND US GAAP are crucial, which is not concentrated upon in the CA syllabus. Hence, taking a course like CPA will help you in understanding accounting principles applicable worldwide.
· Job Opportunities in India: Multiple MNC companies which are setting up operations in India are also preferring CPA’S because they have knowledge of IFRS AND US GAAP which those companies require to integrate the accounts. The scope of CPA in India is increasing day by day because of globalisation and increase in the number of MNC’s setting up business’ in India.
· Recognition and Status: It is advisable for qualified Chartered Accountants to pursue CPA so that they get internationally recognised in a fast-changing environment like India where there is a demand for international knowledge.
· Salary: Individuals also enjoy a higher compensation after completing the CPA program. Even in India, with opening up of economies and globalization of operations, the demand for professionals with international knowledge is expected to rise considerably.
· Boost to your profile: After pursuing both these programs, the candidates will not only gain sound international understanding and accounting knowledge along with the skill of applying the same practically. These qualifications will also add more value to the candidate's profile.
Pursuing CPA course after CA is absolutely subjective in nature with respect to your career desires and job satisfaction. It mainly depends on whether you want your work to be focused in India or abroad. Taking an informed choice is always important and knowing your own priorities is even more important. Hope these points helped you in shaping your ambiguities. Good luck for your career!
Be it formulating the balance sheet of a company or formulating complex business solutions, a Chartered Accountant can do it all. Big Four auditing firms, taxation advisory companies, banks and others are ready to offer CAs a great career. But when it comes to financial services (like investment banking, equity analysis, advisory, trading), CAs lag in leaving a mark. Global banks do not mention CA as a required qualification in their job profiles. So, if you’re interested in hardcore finance at a global platform, how can you bridge this gap?
This is where CFA (Chartered Financial Analyst) comes into play. CA+CFA is one of the most sought-after combinations in the industry. While CA is deeply valued in India, CFA gives you an added advantage by exposing you for global recognition. Just to brief you about the 2 courses, while the CA course deals with accounting, taxation, law, and audit, the CFA program focuses more on finance, investment, wealth management, stock market, portfolio analysis, etc.
Listed down are the benefits of doing CFA after completing your CA course:
· Job Opportunities: CFA Program opens the door to job opportunities in investment banking, mergers and acquisitions, equity research and all other financial services. If you are interested in working as a research analyst in credit research, corporate finance official, wealth management associate or a portfolio manager etc., then CFA will help you gain a competitive edge.
· Clearing CFA Level I: Since you are already a chartered accountant, it shouldn’t be too difficult to crack Level I of the CFA Program exam because approximately 60% of the CA syllabus is reflected in the Level I examination. With the right guidance and effort, you should be able to crack it the first attempt.
· Global Demand: With the rise of demand for financial analyst professionals, especially at top global companies, you have higher chances of getting in your desired companies for the desired roles. Most of the popular international hubs like ABN AMRO, Deutsche Bank, Barclays Plc, N.A. Dresdner Bank, Goldman Sachs, Lehman Brothers, Standard Chartered Bank, Royal Bank of Scotland etc. are in demand for qualified individuals who can fit in for various roles.
· Salary: Individuals also enjoy a higher compensation after completing the CFA program. Even in India, with opening up of economies and globalization of operations, the demand for qualified/semi-qualified Charter is expected to rise considerably. It is estimated that a complete charter holder (one who has completed all III levels) enjoys a starting salary of INR 6-15 Lakhs.
· Boost to your profile: After pursuing both these programs, the candidates will not only gain sound financial understanding but also develop good analytical skills along with the knowledge of applying the same practically. These qualifications will also add more value to the candidate's profile.
The combination of CFA and CA gives you an all-around knowledge and global recognition. The rigorous curriculum will add deeper layers to your training. That is what distinguishes great finance professionals from the good ones. Your learning curve will improve sharply and this will enable you to meet high commitment levels. Choosing a right career path can be hard, but if you’re interested in hardcore finance, pursuing CFA after CA is the best route for you!