Career Options After CA: Best Jobs, Courses & Salary Guide

Have you cleared your CA Final? Not sure what comes next? There are numerous ways for a CA Final to advance their career – be it internal audit, taxation, ACCA, CFA, or any other international certification. This post covers everything one should know about CA career opportunities.

Why CA Opens So Many Doors?

What comes after CA? Chartered Accountancy is a dream course that opens the door to a myriad of employment opportunities.

• The options in this course are virtually limitless, and they may be tailored to match your interests, standards, and earnings. To become a Chartered Accountant, one must either start their own practice or work for a corporation.
• A CA can be appointed to various roles, ranging from auditing and taxation to investment and finance, owing to their specialised understanding across multiple fields.
• Soon after the CA Final results are announced, the next question on the minds of those who are preparing for the exam is, "What comes next?"

In this article, we have listed some exciting job options to pursue after becoming a Chartered Accountant to answer the question: What should I do after becoming a Chartered Accountant?

Career Options after a Chartered Accountant

As we mentioned before, Chartered Accountancy is a self-contained degree program. Consult with someone who has finished Chartered Accountancy.  A CA degree opens the door to an extensive range of options.

Some of them are included in this list. Take a look at the examples below:

1. Internal Auditor

• As we all know, chartered accountants (CAs) are the only individuals permitted to audit an organisation's financial statements.
• As a result, there is always a great need for CA in the Audit industry, and this is also the field where a CA receives the most significant compensation increases.
• The work pressure in this job profile, on the other hand, is relatively high. After completing the CA Inter, one can work as an Internal Auditor for a corporation.

On the other hand, various firms and institutions have policies that state that only a certified Chartered Accountant may work as an Internal Auditor and not a CA Inter passed applicant.

2. Direct and Indirect Taxation

• CAs are sometimes referred to as "Taxation Experts" in some sectors. Many Chartered Accountants begin practising in either direct (Income Tax) or indirect taxation (GST and other laws).
• With the implementation of new tax legislation in our country, the scope of a Chartered Accountant in this field is becoming increasingly broad in scope.

3. Banking and Insurance Sector

• As a general accountant, you should not expect to be responsible for the bank's accounts or create its financial statements according to banking regulations and industry best practices.
• Banking Accounts must be handled by someone familiar with banking regulations, including their compliance with them and other industry standards.
• They should be competent in participating in the bank's financial affairs and working on their financial strategies, control, funding, forecasting, and other related tasks. 

4. Finance Management

• To benefit from CA's extensive understanding of the financial sector, a growing number of organisations are looking for Qualified Chartered Accountants to manage their financial affairs.
• This job profile is highly regarded and necessitates the possession of a wide range of technical abilities.
• One must keep up with industry trends, comprehend the most lucrative investments, anticipate the company's business, and then advise the organisation on these forecasts and investments.

5. Work as a teacher

If one is employed in the field of education, one can also teach part-time.

• Teaching is a prestigious profession with high ethical standards. It not only supplies you with money but also with a good reputation, similar to CA. Parveen Sharma Sir, CA. Vinod Gupta Sir, and CA. Bhagwan Lal sir.  
• Some CAs are teaching through doing their jobs or putting in their own practice time.
• Teaching positions are available in educational institutions for CAs, commerce graduation coaching programs, select post-graduate colleges, and the Indian Chamber of Commerce and Industry.
• Furthermore, this does not have to be a full-time job. Along with your work or practice, you may choose to pursue academics.

Thus, if we conclude:

• The beginning phases may not be financially profitable, but in the long run, it is on a level with, if not better than, any other industry in terms of earnings potential.
• This area is just for individuals aware of the difficulties students face and who wish to continue their education.

6. Business

Choosing a self-employed career or working for a family business is a preferable alternative in most cases. When it comes to starting a business, one of the most famous sayings is, "There is no better choice than starting your business."

This indicates that there is no better alternative than starting your own business, whether it is trade or manufacturing.

Many CAs join their family businesses to help them expand and improve; nevertheless, starting your firm if you have no prior experience is quite challenging.

Always keep in mind the famous businesspeople of India, such as Dhirubhai Ambani. Dhirubhai was not born into a wealthy household and did not have a formal education, yet he was a successful businessman anyway.

Just Remember Always: "If you think you are going to do something, you are going to accomplish it.

7. Further Study: Courses after CA

7.1. ACCA (Association of Chartered Accountants)

An accountancy profession recognised in more than 180 countries worldwide, the ACCA (Association of Chartered Accountants) is a globally recognised organisation.

Since 1904, it has been providing the Chartered Certified Accountant (ACCA) Qualification. ACCA now has 252,000 members and 503,000 pupils, according to its website.

• This course will provide you with an understanding of UK GAAP and rules and certification to practice as a Certified Accountant (CA) in a variety of countries.
• Although a CA degree is required to operate in India, ACCA, in conjunction with a degree, provides you with tremendous growth opportunities if you intend to work for a multinational corporation in the future or if you wish to go into international accounting.

Confused about the differences between ACCA and CA?- Follow the link to have a better understanding of it

The advantage of pursuing ACCA after completing CA is that ACCA recognises the CA certification and grants exemptions for nine out of fourteen exams, resulting in an Indian CA taking only five papers to broaden their professional opportunities.

7.2. CISA and DISA

In India, you may have heard that CAs are not permitted to do system audits unless they hold a CISA or DISA certificate. This is correct.

ISACA offers the CISA, an internationally recognised course, while the Institute of Chartered Accountants of India (ICAI) offers the DISA, a locally recognised degree.

If you want to do an information technology audit in the future, you should enrol in this course after completing CADISA. 

7.3. CFA (Chartered Financial Analyst)

If finance is your area of interest, the CFA program is a fantastic alternative to pursue after completing your CA degree.

Areas like Investment Banking, Hedge Fund, and Portfolio Management will be excellent career options for someone who has finished both the CA and CFA programs.

The scope of CA may be confined to auditing the Balance Sheet and providing present-day perspectives on historical events. Still, the scope of CFA is expanded to include reviewing the Financial Statements.

Thus, CFA is a globally renowned course that continues to be offered as part of a graduate-level program. 

7.4. Post Qualification Courses Offered by ICAI

In addition to post-qualification courses such as

• Diploma in Insurance and Risk Management
• International Trade Laws and the World Trade Organisation
• Management Accountancy Course, Corporate Management Course
• Tax Management Course

After becoming a Chartered Accountant, one can pursue any path of study that they desire in accounting.

Following the completion of one's Chartered Accountancy course, one can choose from a few different courses.

Even though CA is a stand-alone qualification, these courses assist in improving your knowledge and raise your chances of being picked for various positions based on your field of interest.

If you want to put your CA skills into practice, you can do the following:

• Because of tremendous competition and pressure from clients, practising accountancy as an individual or as a sole proprietor is an antiquated idea these days. 
• As a result, it is recommended that you form a partnership business with a minimum of four CA. In compliance with the LLP Act 2008, you can also establish a limited liability partnership (LLP).

Start practising as:

• Company Secretary in Practice
• CA in Practice
• Cost Accountant in Practice
• Architect professional
• Engineer (Chartered)
• Actuary Professional
• Forensic accounting

Creating a consulting business or becoming a partner in a large audit firm

• It is a complex undertaking to be the owner or a partner in a large audit business. To get to the partner's position in an audit company, you must first work as an employee in that business. 
• Gradually, you will rise through the company's ranks, from manager to senior manager to associate director and, eventually, to the position of partner.

Certifications after CA

There are many Chartered Accountants who opt for other certifications so that they specialise in a particular field and have more career opportunities worldwide.

Depending upon your career aspirations, you should go for an appropriate certification. If you wish to work overseas, then ACCA, CPA, and CFA can help improve your global career opportunities.

Salary After CA in India 

One of the major perks of being a Chartered Accountant is a high earning capacity. Salaries escalate very quickly depending on experience, skills, and professional qualifications.

In addition to salaries, there are bonuses, incentive plans, stock options, and many more such fringe benefits offered by companies to their employees, making CA a highly remunerated profession in India.

Big  Firms Job Prospects

The Big 4 accounting firms are one of the best places to work for a Chartered Accountant. These firms offer global exposure, career growth prospects, immense learning opportunities, and handsome salaries.

Working in Big 4 firms adds to the skill sets of Chartered Accountants, giving them an edge in the global market.

Job opportunities in CA Companies

Career opportunities for Chartered Certified Accountants are available in the following organisations, as previously mentioned:

1. Internal Auditing

2) Tax Auditing

3) Forensic Auditing

4) Career in Accounting and Finance.

5)Taxation Advisory (Both Direct and Indirect)

6) Statutory Audit under applicable statutes

7) Managing the Treasury function

8) Others like Bookkeeping, Finance Controller, Preparation of financials of companies, etc.

Thus,

• In the preceding article, we discussed various job opportunities in many companies that one should be familiar with after becoming a Chartered Accountant.
• Every individual is unique and possesses a unique set of talents; consequently, what works for others may not work for them.
• You should select the one career opportunity that best matches your interests and abilities.

Conclusion

Whether you choose to practise as a CA, pursue global certifications like ACCA or CFA, enter the banking or finance sector, or build your own business, the career options after CA are truly limitless. Take time to reflect on your strengths, interests, and long-term goals before making your decision. Have questions? Drop them in the comments below or explore our other career guides for CA professionals.

Frequently Asked Questions

Q1: Which is the best career path after CA? 

After passing CA, some of the best career paths would be Internal Auditing, Taxation (direct and indirect), Banking and Finance, Financial Management, Teaching, Entrepreneurship, or even further education through ACCA or CFA.

Q2: Can CA pursue ACCA after completion of the Indian CA course? 

Yes, ACCA accepts CA qualifications from India and gives exemption of 9 out of 14 papers, and therefore, one has to pass only 5 papers to become an ACCA.

Q3: Is CFA a good choice after CA? 

Yes, if one wants to venture into areas such as Investment banking, Portfolio Management, Hedge Funds, then CFA is a very good option post CA.

Q4. Can a Chartered Accountant start his own practice?

Yes. CAs can work individually, can also have a partnership firm (4 minimum CAs), or can form an LLP as per the LLP Act 2008.

Q5. What is the salary of a CA in India?

Fresh CAs generally have a salary of ₹6–10 LPA, while experienced CAs may earn ₹20–50+ LPA based on their seniority and specialisation.

Q6. Can a CA become a teacher?

Yes. CAs can work as teachers in commerce coaching institutes, post-graduation colleges, and CA Inter/Final coaching classes.

Q7: Which is more suited after CA - ACCA or CFA? 

Depends upon one's plans. ACCA is more suited for people who want to go into international accounting, whereas CFA is more suited for people aiming to have a career in investment & financial analysis.

Q8: Which post-qualification courses does ICAI provide for CA?

Post-qualification courses offered by ICAI are Diploma in Insurance and Risk Management, International Trade Laws, Management Accountancy, Tax Management, and Diploma in International Taxation.

Q9: Can a CA join the bank sector?

 Yes. CAs are good for joining banks due to their proficiency in banking laws for jobs that include financial management, compliance, forecasting, and regulatory reporting.

Q10: What is DISA? Who can pursue it? 

DISA (Diploma in Information Systems Audit) is provided by ICAI and is needed for CAs who need to do audits in IT systems in India. This diploma is open only to Chartered Accountants.