Should You Pursue Chartered Accountancy as a Career in 2023? - Pediamate

Should You Pursue Chartered Accountancy as a Career in 2023?

CA is one of the most chosen careers for class 12th students. However, class 12th students see a high level of growth, a lucrative salary, and comfortable and luxurious life in Chartered Accountancy. 

So,  Is there really such a huge scope for CA in future?

Yes, there is a high scope in CA, which is mentioned in the below article.

But to reach that level of scope students have to face tough situations like completing a vast syllabus in a limited period and competing for a low pass percentage. So every student must research the CA Course details only after knowing that. The below article will help you to 

decide whether you need to pursue CA or not. So, READ ON

High Scope Of CA in Future

A CA professional is always in demand because of their high-quality skill sets in fields like auditing, accounting and taxation. As CA professionals, students have job opportunities in various roles like tax consultants, auditors, financial reporters, senior accountants, financial outsourcers, Investment bankers and financial advisors. Gradually, as they gain the expertise they can reach the level of Chief financial officer (CFO) and Chief executive officer (CEO) in the company. Also, they can play the role of business advisors for various business institutions.

Increasing demand for CA Career in India 

CA has always been considered a prestigious profession in India. Because the CA profession is related to the finance field, to manage finance in the economy and any institution there is a need for Chartered Accountants. For that reason, CA has high job opportunities in India and it will remain in future as well. Because of the implementation of technology in the finance industry in India, the fintech industry is growing rapidly and has a low number of tech-savvy CA professionals.

Better CA Career Opportunities Abroad

In the past times, a CA student could not work in foreign countries but in recent years ICAI had signed MOU with Saudi, Kuwait, UAE, Poland, Canada, England, and Russia CA bodies. Hence, students who are pursuing CA can perform their practice in MOU-signed foreign countries in the future. Apart from that they can avail Job opportunities of CA in MNCs and the Indian bodies operating abroad.

Excellent Pay Package for Chartered Accountants ( India and Abroad)

Chartered Accountants have numerous capabilities and high-quality skillsets, and for that reason, they are bound to avail high lucrative pay scale. The salary for a CA fresher is Rs 6 lakh per annum and if a student is a rank holder it can go to Rs 10 lakhs per annum in India. In foreign countries, the CA fresher salary is $60,000 and highly it can go up to $ 80,000.

In the next five years, there is a chance of increasing CA salaries with the growing scope of CA in India and abroad by 15-20%. In India, there is a high demand for CA because of the Implementation of GST and it is expected to increase further, as a result, CA salary will also increase in India. 

Who is eligible for Chartered Accountancy Course?

To enrol in the Chartered Accountancy course students need to know whether they are eligible or not. Students can know the CA eligibility criteria for each level from below.

CA Foundation: CA foundation is the first stage of CA. However, to enrol at the CA foundation level, students have to pass class 12th from a recognized board. Additionally, commerce background students have to score at least 50% and other backgrounds secure at least 55% in class 12th.

CA Intermediate:  In the second level of CA, students are eligible from 2 routes that are CA foundation route and the Direct entry route. The steps for both routes are as follows:

  • CA foundation route: Students have to clear the CA foundation level with an aggregate of 50% and pass with 40% in all subjects.
  • Through Direct Entry Route: From this route students are eligible if they pass their graduation/post-graduation with 55% in commerce background and 60% in science background.

CA Articleship:  It is necessary for the students to learn the practical approaches to their learning. CA articleship is the 3rd stage which provides the same to the students. For CA articleship students are eligible in the following manner:

  • Must have passed at least one group of CA Intermediate
  • Complete ICITSS training 
  • Students of the direct entry route can directly pursue CA articleship after the CA intermediate registration.

CA Final:  It is the 4th and final level of the CA. To be eligible for this stage students have to clear both the groups of CA Intermediate level. Also, complete at least 2.5 years of CA articleship training.

About VSI

VSI is the renowned Institute of the CA in India which provides the best CA classes for all the levels. VSI fulfils the dream of students of becoming CA every year with high marks on the first attempt. It is proven by the result that VSI’s 7 students got the first position and hundreds of  students place their name under the top 50 in the All India Rank. VSI follows a 3 step robust study pattern in its 4 months of CA classes which helps students in completing the syllabus with ICAI study material on time, revising concepts regularly and practising ICAI-based mock tests. So that students can prepare by understanding the pattern of the main exam and Consequently achieve the desired result.

Final Words:

From the above discussion, we can say that pursuing Chartered Accountancy is ever-demanding in every era due to its difficulty and high skill sets which make it prestigious for everyone. Hence, students who are going to pursue a CA course must know that it has easy entrance and difficult exit, so choose wisely. If you need expert guidance related to chartered accountancy you can visit and contact VSI Jaipur.

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