Chartered Accountancy (CA) is one of the most prestigious and demanding professional courses in finance and accounting. However, in today's highly competitive job market, having just a CA degree may not be enough to distinguish yourself and advance your career.
Many professionals choose to supplement their CA degree with additional courses or certifications in order to improve their skills and knowledge.
In this blog, we will look at why people take additional courses on top of their CA degree and why a CA degree alone may not be enough in today's fast-paced business environment.
We will discuss the advantages of pursuing additional courses and certifications and how they can help CA professionals stand out in a crowded job market and achieve their career goals.
Why isn't just having a CA degree enough in the competitive business world of today?
A CA degree is unquestionably a prestigious credential, but in today's fiercely competitive business environment, it might not be enough to succeed.
The reasons for this are varied and complex, but a few key examples can demonstrate why having additional qualifications and skills is critical in today's job market:
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Business requirements are changing, and a CA degree might not be enough to teach all the skills that are required. The industry needs professionals who can adapt to new trends and requirements.
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More professionals entering the workforce has led to increased competition, so having extra credentials or skills can help you stand out from other applicants.
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Companies are looking for professionals with international experience and exposure, which a CA degree might not be able to provide.
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To meet specific needs, businesses call for professionals with specialized skill sets, so additional training is essential.
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Professionals may need additional qualifications, such as an MBA, to advance to senior positions.
Why you should take additional courses on top of your CA degree?
Students take additional courses on top of their CA degree for a variety of reasons, including:
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Specialization
Specialization can help CAs stand out in a competitive job market. A CA professional, for example, can pursue specialized skills and knowledge by taking a course in tax law, financial modeling, or forensic accounting.
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Career Advancement
Additional courses help individuals develop new skills and knowledge, which can lead to better job opportunities and faster career advancement. For example, pursuing an MBA after earning a CA degree can lead to senior management positions in finance and accounting.
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Global Recognition
A number of additional programs, including CFA and ACCA, are well-known internationally and can help CA professionals expand their career options beyond their own nation.
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Diversification
By taking additional courses, CA professionals can broaden their skill set and make themselves more appealing to potential employers. For instance, a CA who has taken a data analysis course can use their expertise to analyze financial data, which is becoming increasingly important in the digital age.
Some Popular Courses You Can Do After CA
(DISA, CISA, CFA, ACCA, Investment Banking, FRM)
DISA is a diploma course in system security and audit offered by ICAI, which is mandatory for individuals who want to conduct Bank or Information Systems audits.
The course is exclusively available to qualified Chartered Accountants, and it is regarded as one of the best courses after CA. DISA can be challenging but essential for those who wish to establish their own practice and pursue a career as a Quality Manager, Information Systems Auditor, Consultant, or Project Manager, among other job roles.
Some of the top companies that offer job opportunities in this field are Connecticut, Oregon, Pwc, and Ernst & Young.
The salary range for professionals with DISA certification varies from INR 25,000 to 30,000 per month.
CISA is a globally recognized Information System audit-based course provided by ISACA in the US, which is an excellent career option for Chartered Accountants who are unsure about their career path after CA.
The CISA course is designed to help individuals develop strong risk-based information system auditing skills, and it holds greater value than DISA since it is recognized worldwide, despite being more challenging.
Completing the CISA course can open doors to various job roles such as Internal auditor, IT audit manager, IT security officer, Public accounting auditor, etc.
Many top companies like E&Y, Flextronics International, Capgemini, Deloitte, etc., offer job opportunities to CISA-certified professionals.
The average salary for individuals with CISA certification ranges from Rs. 85,000 to 90,000 per month.
For individuals interested in the Financial Sector, the Chartered Financial Analyst (CFA) is a professional certification offered by the CFA Institute that provides a globally recognized course to build a strong foundation in real-world investment and effective portfolio management.
The course requires four years of practical training experience.
Completing the CFA course can lead to various job roles such as Chartered Financial Analyst, Associate in Investment Banking, Portfolio Manager, and Equity Analyst, among others.
Many top companies like The Goldman Sachs Group, JP Morgan, Crisil, HSBC, Deloitte, Evalueserve, etc., offer job opportunities to CFA-certified professionals.
The average salary for individuals with CFA certification ranges from Rs. 9 to 11 lakhs per annum.
ACCA is a globally recognized course that offers Chartered Accountants the opportunity to access many international career opportunities in 180 countries worldwide. The Association of Chartered Certified Accountants (ACCA) is known worldwide for its excellence in Accounting and Finance, providing a curriculum that covers UK GAAP, IFRS, and other International Laws.
One of the main advantages of pursuing ACCA after CA is that this course recognizes the CA qualification. After passing the CA Final exam, ACCA offers nine exemptions out of 14 papers, meaning that a qualified Chartered Accountant only needs to appear in five papers, making it one of the best post-qualification courses after CA.
Completing ACCA can lead to various job roles such as Accountant, Finance Manager, Auditor, and Financial Analyst.
Many top companies like E&Y, KPMG, State Street Corporation, etc., offer job opportunities to ACCA-certified professionals.
The average salary for individuals with ACCA certification ranges from Rs. 6 Lakhs per annum.
After completing CA, Investment Banking offers various job roles such as valuation analyst, investment banking analyst, M&A analyst, and more.
Investment bankers can expect a starting salary range of 10 to 11 lakhs per annum.
Investment Banking job roles include M&A Analyst, Portfolio Manager, and Corporate Development.
Many top companies such as HDFC Bank, JP Morgan, ICICI Bank, Mphasis, etc., offer job opportunities to individuals pursuing an Investment Banking career.
The average salary range for investment bankers is Rs. 10 to 11 lakhs annually.
CAs can opt for a career in Financial Risk Management by clearing both levels of the FRM exam, which is conducted in May and November. A Financial Risk Manager can expect a salary range of 6-8 lakhs per annum.
Financial Risk Management job profiles include Risk or Credit Manager.
Many top companies such as E&Y, ICBC, KPMG, Deutsche Bank, etc., offer job opportunities to individuals pursuing a career in Financial Risk Management.
The average salary range for Financial Risk Managers is Rs. 6-8 LPA.
Finally, while a CA degree is important, extra courses can provide CA professionals with specialized expertise, new career pathways, and competitive advantages in the job market. It's no surprise that many CA professionals prefer to supplement their degrees with additional courses in order to advance in their careers.
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