There was a time when being a Chartered Accountant and earning prestigious ‘CA’ prefix before your name was considered as a masterstroke.
BUT, tables have turned now in the era of rapidly evolving world. Moreover, the future of finance and business seems tremendously dynamic and emerging.
So in order to raise value and stand out of the crowd, it is important to set a stage for the next steps after completing your CA.
This isn’t just another article which simply lists down the courses after CA, it also gives you a deep thought interpretation about WHY you should do that course. These are value addition courses for chartered accountants which will help you earn for high paid salary.
Without a delay, let’s have a look at the most popular courses after clearing Chartered accountancy Exams.
1) Investment Banking – Top Trending Career Option
If you have ever been fascinated by the Cushy lifestyle of Investment Bankers in movies or anywhere on social media, then this is THE BEST option for you.
In order to start your career in Investment Banking, you need to opt for short term training for two basic skills – Financial modelling and Valuation.
• Profiles:
– Valuation Analyst
– Investment Banking Analyst
– M&A Analyst
• Top Institutes to pursue this course: Only The Wallstreet School reveals the data of previously placed students, with their LinkedIn profile links. No other institute does so.
• Employers: JP Morgan, Goldman Sachs, Morgan Stanley, Citigroup, Credit Suisse, Barclays Investment Bank, Deutsche Bank, UBS, RBC Capital Markets etc.
• Salaries: Starting at 9-10 Lakh Per Annum
2) CFA (Chartered Financial Analyst) – A Ladder to International Finance Career
Many Chartered Accountants opt for the CFA exam, right after qualifying their Finals. This combination gives you an all-around knowledge and in the field of Core Finance.
It gives you more international acceptability, than what CA as a standalone degree can give. It can help you take up jobs outside India.
• Profiles:
– Portfolio Management
– Equity Research
– Valuations
– Portfolio Management
– Stock Trading
• Employers: Investment Banks and Consulting firms such as Goldman Sachs, JP Morgan, Crisil, HSBC, Deloitte, Evalueserve etc.
• Best institutes to prepare for CFA: The Wallstreet School (Official Prep Provider), Fintree, Sanjay Saraf etc.
• Salaries: For fresher CA’s with a CFA Charter, salaries tend to average anything between 8 and 12 lakh.
3) LLB (Bachelors of Law) – Take Up The Legal Suits
These days, CAs have developed their craze towards law. The reason is pretty obvious .
You can have better hold over legal language and edge over other Chartered Accountants in matter drafting appeals or presenting cases before authorities.
• Entrance Exams: Common Law Admission Test (CLAT), AILET – All India Law Entrance Test, LSAT – Law School Admission Test etc.
• Best law colleges: National Law School of India University (Bangalore) and NALSAR University of Law(Hyderabad)
• Salaries: Campus recruitment salaries at prestigious law colleges start as high as Rs 35,000 to Rs 40,000 per month.
• Profiles: You can take up cases on Civil Law, Corporate Law, Labour Law, International Law, Family Law, Constitutional Law, Patent Law etc.
4) FRM (Financial Risk Manager) – Analyze the Risk
FRM is globally recognized designation issued by Global Association of Risk Professionals .
During your CA journey, you might have sometimes calculated the Risk associated with a particular portfolio in the subject of Financial Management.
If you’re fascinated by that, you can opt for this course. It’s drafted on similar lines.
• Exam: You need to clear both levels of FRM. The examination is conducted in November and May.
• Employers: ICBC, Bank of China, Citi, KPMG, Deloitte, E&Y, Deutsche Bank etc.
• Salaries: For fresher CA’s with a FRM, average salary is around 7-8 lakh.
• Profiles: Risk Manager or Credit Manager in Banking sector, Insurance sector or Consulting firms.
At The Wall Street School, we do offer some of these courses, and FRM course is one of our most preferred program by CA’s. If you want to know more about FRM Course, feel free to get in touch with our counsellors, and they can guide you with all the details.
5) CS (Company Secretary) – Become a Corporate Lawyer
We have seen many Chartered accountants pursuing CS along with, or after they qualify CA finals. Many subjects of these two courses are overlapping and hence getting 2 degrees from same knowledge is a useful proposition.
Chartered Accountants usually pursue CS to get a strong hold in Corporate law, along with their core domains – Audit and Taxation.
• Exam: To get the CS Degree, you need to clear the three levels of examinations – Foundation, Executive and Professional. If you’re a CA, then you will get direct admission in CS-Executive.
• Profiles: A combination of these two degrees would boost up the chances of getting a Job as a Legal Adviser to MNCs for matters related Taxation, Audit and Accounting.
• Salaries: Average Salary of a Company Secretary rangers between 6 to 7 Lakh
6) CPA (Certified Public Accountant) – Setup Your International Practice
CPA is the American version of Chartered Accountancy. The CPA degree is given by American Institute of Certified Public Accountants, and it is mandatory to have this degree in order to practice as a Public Accountant in US.
• Profiles: A Chartered Accountant with a CPA degree can work in a wide variety of areas like Assurance services, Forensic Accounting, Tax and Financial Planning, International Accounting, Internal and External auditing etc
• Salaries: Average Salary of a CPA is between 6 to 7 Lakh in India.
• Employment opportunities: If you’re looking for opportunities to setup your practice in US or to get a job in Indian MNCs for the profiles mentioned above, then CPA is a good option after Chartered Accountancy.
Don’t just blindly follow people’s advice to pursue CPA, CS, CMA, etc. Every person is special, has different abilities and therefore, what suits to others may not suit them.
7) Master in Business Administration – MBA Finance
After completing CA, many Chartered Accountants have opted to study Business Management at a reputed B-School. Though there is a lot of discussion around this, we are listing down the benefits of a CA+MBA Finance combination. This degree can help CAs find high paying salary jobs like CFO, Head Finance in the career path.
Here’s how an MBA can be really helpful:
1. Business Understanding: Even if you specialize in Finance, an MBA teaches you how an organization operates as a whole, extending beyond just the financial aspects.
2. Corporate World Exposure: A reputed B-school provides you with great exposure to the corporate world. This experience goes beyond what is typically available through the ICAI (Institute of Chartered Accountants of India).
3. Peer Group & Learning Opportunities: B-schools have students from all walks of life, giving you a well-rounded learning experience.
4. More Career Options: While there are ample career opportunities for CAs in India, an MBA from a reputable B-school significantly widens your professional options.
• Entrance Exams: CAT, CMAT, XAT, NMAT etc.
• Best MBA Colleges: Indian Institute of Management, XLRI – Xavier School of Management, SP Jain Institute of Management and Research, Management Development Institute, Faculty of Management Studies
• Profiles: Financial Controller, Chief Financial Officer, General Manager Finance, Business & Finance Controller etc.
Conclusion
It totally depends on what profile you are interested in and what work you want to do for the rest of your life. Trust your instincts.
FREQUENTLY ASKED QUESTIONS (FAQS)
Q1. Which is the best course after CA?
A1) It depends upon your interest. If you want to get into core finance, then CFA is the best option. If you want to stay in accounting, then you can go for CPA or ACCA.
Q2. How to become an Investment Banker after CA?
A2) You need to master the skills of Financial Modeling and Valuations. Thereafter, you can start applying to investment banks.
Q3. Which course to do after CA to get a high salary?
A3) Usually, the highest rewarding career in Finance domain is Investment Banking. Thus, you can pursue CFA to break into this field.
