What should I do after I finish school? What course should I pursue? Which course has a greater scope in the future? Which course will get me a better job with a high salary? These are some questions which most of us have in our minds when we want to choose our career paths. There are a lot of professional degree courses which we youngsters choose to study but what we study must be based on our interest in the subjects. Whatever one decides to study, one must be interested in the course and its content. If you do a job which you don’t like then it is you who will suffer at the end. The job industry is very competitive and employers want the best of professionals to work for their organizations. Chartered accountants (CA’s), company secretaries (CS’) and chartered financial analysts (CFA’s) are among the top most professionals in the industry and are in huge demand by public and private employers.
Chartered Accountant- Chartered accountants are professionals who basically deal with accounting, auditing, taxation and business and finance aspects of a firm. Every company needs a chartered accountant to carry out several functions like auditing, taxation, investment consultancy, fund management, etc. CA’s are paid huge amounts of salaries for their tasks. CA’s are hired by banks, public limited companies, finance companies, stock broker companies and even legal firms to perform different kinds of jobs..
The Institute of Chartered Accountants of India (ICAI) is the regulatory body of chartered accountants in India. Its job is to establish the codes of conduct within which every CA has to work. To become a CA you must go through certain exams which when cleared will fetch you a degree along with the title. Also, you must work under a practicing CA for a certain period which will provide you with exposure to the industry. The best part of becoming a CA is that you can start your own firm, get your own clients and create and enhance your name in the industry. The profile of a chartered accountant is really inspiring but you must understand that becoming a CA requires a lot of efforts and hardwork and the fruits of your labor will be of much more worth.
Company Secretary- A company secretary is a professional who ensures that an organization’s legal obligations under the corporate legislations are complied with. A company secretary has various duties as an officer in the company. These include corporate governance, corporate law advisory, advisory on mergers and acquisitions, corporate representation, management advisory, etc. The company secretary holds a key position in a firm. A CS is generally a member of the board of directors of the company advising them on various decisions. In India, company secretaries are in huge demand. The salary offered to a CS is huge.
The Institute of Company Secretaries of India (ICSI) is the regulatory body which establishes the codes of conduct within which all company secretaries have to perform their duties. The course is a self-study one. A person has to undergo various examinations to become a CS. A 15 month training under a practicing company secretary is mandatory to become a CS. Once you become a CS you can either work for a company or start your own firm. The scope of being a company secretary is infinite and growth in the industry is unlimited.
Chartered Financial Analyst- A chartered financial analyst is an expert in the field of finance. In the changing industrial scenario, companies require individuals with knowledge about managing financial portfolios. This is where the CFA designation comes in handy. The duties of a CFA are investment management, financial analysis of stocks, portfolio management, etc. The CFA also advises a company whether to acquire a particular asset or not. The CFA acts as an agent for an individual, a public or a private corporation. Unlike CA’s and CS’, CFA’s are not required by all the firms in the industry. But, this does not limit their demand in the market by any means. CFA’s have a huge demand in the industry and have salaries better than CA’s and CS’.
CFA Institute, USA, is the governing body of all the CFA’s in the world. Any individual can register with the institute in order to become a CFA. In India, the Institute of Chartered Financial Analysts of India (ICFAI) is the regulatory body which used to provide individuals with the designation. But, after a dispute with CFA Institute, it could no longer provide CFA degrees to anyone, although, the existing members of ICFAI will be recognized as CFA’s all over the world. Generally, working professionals take up the CFA course and earn a charter after having 4 years of work experience in the investment industry. The growth of a CFA on the corporate ladder is fast paced and companies profit a lot because of CFA’s. This contributes to their ever growing demand in the investment market.
Thus, CA’, CS’ and CFA’s have a huge demand in the market with attractive job profiles and high salaries. With different roles such as accounting & auditing (by CA’s), corporate governance & legal advisory (by CS’) and investment & portfolio management (by CFA’s), they play a crucial role in the functioning of the firms and are hence, important in the development of the companies.