Career Advice !

[AstanoshKhan]

Thanks guys for taking out the time, I deeply...deeply appreciate it !

I think I'm going to stick with the ACCA-ICAEW/CA route and then maybe later on when I've entered the job market and stayed there for a few years I can better judge where I'd like to take my career to ! So thanks...!

I wish you best of luck... keep in mind, in most cases and in corporate sector in Pakistan, experience counts not qualification. I'm telling you this from my personal experience - the most qualified are working under the most inept but experienced lot.

 

[Respect4Respect01]

im graduating from high school in two weeks and i dont know what to do after that, im still thinking.

 

[lem34]

im graduating from high school in two weeks and i dont know what to do after that, im still thinking.

What you thinking of doing?

 

[Respect4Respect01]

What you thinking of doing?

well i wanted to be an Actor, my mom wants me to be a doctor, and my dad wants me to be a politician, so im confused lol.

 

[lem34]

well i wanted to be an Actor, my mom wants me to be a doctor, and my dad wants me to be a politician, so im confused lol.

But what are you good at?

 

[neutral_person]

Hey guys, Armstrong here ! I'm in a bit of a conundrum so please help me out. First I think some background is in order : I'm currently doing ACCA (I should be, hopefully, done by December this year).

Now the way I see it I've got two options in front of me :

1) I either continue on with the Chartered Accountancy path and go for ICAP's CA (Pakistan's CA) or obtain exemptions for the ICAEW (I'm exempted from 13 of 15 papers) and then go for the mandatory 3 year work-experience with an audit firm; I've got an offer from Grant Thornton Pakistan on the table right now ! If I pursue this stream I can try for other audit firms in June of next year as well !

2) Or instead I go for the CFA charter after the ACCA and try to make a career out of investment related finance ! Actually I'd much rather prefer this over accounting, audit etc. and I'd love to end up as a buy-side analyst at some Mutual Fund in a few years time but the problem with this stream is that I dunno if the job scope for CFAs is all that great in Pakistan right now because for obvious reasons Pakistan isn't entirely an investment friendly country right now ! And the people I've talked to haven't given me a definitive answer on 'a CFA's job prospects either' so I'm seriously confused !

So guys do I risk it and go for the CFA route or should I instead play it safe and stick with Chartered Accountancy !

P.S I prefer finance and that too investment finance considerably more than audit, accounting, tax etc. !

P.P.S I'd prefer not leaving the country or my city - Lahore, Pakistan !

So any suggestions...recommendations ? Any thoughts...anything please do share ! Because I'm seriously confused right now - Should I play it safe or risk it for something I like a lot more ?

I'd appreciate a response !

Regards,

Armstrong

Hi bro,

I am a Software Engineer by profession but I have a few CAs and CFAs in my friends circle here in Canada. I know you want to live and work in Lahore, so this information might not be very helpful but here is a general gist of how things are in Canada.

CAs are pretty decent paying stable jobs (most of my friends who are at entry level positions and just got their CAs make in the $65,000 to $85,000 per year depending on the company). It is very easy to get a job, and as long as you do your job correctly, there is no risk of losing your job as all companies require CAs. The negatives are that most of the CA people I know work very long hours, usually 10 to 12 hours a day (and in busy times like tax seasons its more like 12 to 14 hours days). And most of the time you are just auditing so the job can get boring. A lot of my CA friends complain about their job being not fun, not many of the CFA peeps I know do that.

CFAs on the other hand are high reward jobs (most of the CFA friends I have starting salary is $75,000 to like $95,000 per year). However, it is a very competitive market and you really need to be top quality stock. It is definitely more risky in terms of job security, and finding jobs if you leave your previous one is hard.

Dont know if this helps much as I am not really familiar with the market in Pakistan/Lahore, but I am guessing that there should be similar patterns because it is the same profession.

Good luck with your future bro. Talk to more qualifies CAs and CFAs in Pakistan and make the right choice

 

[Respect4Respect01]

But what are you good at?

my friends tell me that im a really good actor, i always get 90's in drama, but i cant really become a actor, ill pm u the reason if u need to know.

 

[lem34]

my friends tell me that im a really good actor, i always get 90's in drama, but i cant really become a actor, ill pm u the reason if u need to know.

yep we will continue this by pm

 

[Respect4Respect01]

yep we will continue this by pm

yep ill pm u

 

[53fd]

Sorry for the late response. Today's accountant is more than an accountant. I know a CPA (the US equivalent of a CA, slightly less qualified) that has done his MBA now. CFA is definitely a good option, but that depends on whether you want to follow that path; you just need to clear that exam. MBA might be another option you want to explore. But one thing is for sure: you'll be doing much more than just plain accounting/'number keeping'.

 

[Abu Zolfiqar]

Sorry for the late response. Today's accountant is more than an accountant. I know a CPA (the US equivalent of a CA, slightly less qualified) that has done his MBA now. CFA is definitely a good option, but that depends on whether you want to follow that path; you just need to clear that exam. MBA might be another option you want to explore. But one thing is for sure: you'll be doing much more than just plain accounting/'number keeping'.

I can vouch for that!

MBA is a good option, but in many cases it's a 2 year (versus 1 year) thing; MBA wont teach you how to become a business leader or an entrepreneur. It wont make you a sudden expert at reading balance sheets/cash flow statements. But you get the training, and most importantly (for me at least) you get the class discussions and learn a lot during discussion time when people share their own experiences

perhaps you can do your CFA and at a later time expand your horizons and pursue MBA at a later time....really goes down to what career path you want to pursue and which field you want to specialize in. Advantage of MBA is that it covers broad spectrum of business; by the 2nd year of your MBA you would have a good idea of which area to focus on specifically. It's obviously more general and more comprehensive than the CFA (and also probably putting bigger dent in your wallet)

getting a good education these days is always well worth it - but costs an arm and a leg! Especially when you're on your own.

best of luck brothers (all of you)

 

[information12]

hi armstrong,
first of all please clear whether u are getting icaew articles or is it ICAP pakistan CA articles?
Secondly i would recommend that if u r getting icaew articles , continue cfa along with that if you can manage. ICAEW or CA alone is good but CFA is liek a value adding qualification. Try to merge CFA along with other degree to make out for the best combbination.
Please specify that u r getting ICAEW articles or ICAP CA articels offer from GT pakistan ????
thanks

 

[Hell hound]

Thanks guys for taking out the time, I deeply...deeply appreciate it !

I think I'm going to stick with the ACCA-ICAEW/CA route and then maybe later on when I've entered the job market and stayed there for a few years I can better judge where I'd like to take my career to ! So thanks...!

hi mate want to ask you some question hows the acca job market now days in pakistan and what are you doing these days ca cfa or job.(acca student here)

 

[Armstrong]

hi mate want to ask you some question hows the acca job market now days in pakistan and what are you doing these days ca cfa or job.(acca student here)

Not that great; but my friends are working for decent audit firms.

If you've passed the ACCA in the first go or if you've got a strong reference there are always jobs available for you as an audit trainee with a decent audit firm; once you've completed your 3 year work experience its that work experience that gets you a good job not the ACCA per se.

But my recommendation would be that you go for an undergrad degree instead from a good university and if you're interested in ACCA then go for it because having an insurance policy to fall back on is a good thing.

I'm currently in the middle of applying for graduate studies in finance.

 

[truthseeker2010]

seems like ur in a same boat like me....only difference is that i am in the final year of BBA and weighing options for CFA(thinking of giving level 1 in june) or go for MBA.... the problem is MBA in US from a good university requires 2-3 years experience, and CFA on the other hand is a very rigorous program in itself, and i am also thinking of going abroad after graduation....