In our previous post, Chartered Club highlighted the fact that CA Students are allowed to get registered in Companies and pursue their Articleship Training in Companies (Refer our article – Are CA Students allowed to undergo Articleship Training in Companies)
That article seems to have gone well with the Student Community and we’ve received many queries regarding whether Students should opt for Articleship Training or Industrial Training. Although the answer to this question varies on a case to case basis, we’ve highlighted the benefits of Industrial Training in this article.
A few decades back, there were very few CA Jobs in India as there were very few Companies. And as there were very few companies, CA’s used to opt for setting up their own practice and thus Articleship Training was preferred.
But with the advent of Globalisation, the whole scenario has changed. More and more companies are entering into India and the demand for CA’s is increasing at a very rapid pace. Earlier the same CA used to do audit, finance, tax work in an organisation. A Company used to have only 1 CA and he used to take care of all the departments in that company.
But now times have changed. This is now the era of Super-Specialisation. If a CA is working in Tax Department, he would only be focussing only on one area say for e.g. Direct Tax or Indirect Tax. And even in that he would be having a specialisation like Corporate Taxation, Transfer Pricing etc. Someone working in Tax Department would never even get to see the Audit Department. Thus, the 21st century is the century of Super-Specialisation
And as the demand for CA’s has increased, their salaries have also increased. With lucrative pay packages on offer for CA’s and a congenial working environment being offered by the MNC’s, more and more CA’s are have now started opting a Job in the Industry and the interest of CA’s in setting up their own practice seems to be diminishing.
It is a known fact that Companies 1st preference while recruiting employees is to recruit those who’ve undergone Training in their own company. And this preference is applicable for all industries whether it’s CA Industry or the IT Industry or the MBA Industry.
If you’ve undergone training in a company your chances of getting recruited in that company itself and that too at a good package are very high irrespective of the number of attempts taken by you to clear CA. As soon as you Qualify, you will not only start getting Job Offers from that company but would also start getting job Offers from other companies. Thus, your chances of starting off a Bright Career in a Company get very high if you’ve undergone industrial training.
Thus, for those who want to enter into Job and pursue a career in the Industry, Industrial Training is highly recommended. However, if you intent to start your own practice post qualification, it’s advisable for you to opt for Articleship Training in a small firm as the exposure and the work experience you would get in a small firm would certainly help you a lot in setting up your own practice.
The Team of Chartered Club also helps CA Students in finding Industrial Training Vacancies. You are kindly requested to upload your details here and we’ll get back to you with Ca Industrial Training Vacancies which suit your profile.