02-19-2009, 06:11 PM
Dear Awais Aftab and Kamran Fasih,
I will discuss here only the salary issue
Why CA will get more salaries in the market?
It is only because of CA firms, as you aware that ICAP has fixed stipend rates and usually as you grow in firm your stipend will increase.
In almost 99% cases when articleship period completed the student can continue with the firm. The salary structure is different in each firm but they are giving good salary with leaves on each exams.
This will become the threshold level, a student will not join the industry in less what he is currently earning in the firm.
After passage of each interval of time the salaries are increasing in the firms and so the salary demand is also increasing.
Audit firms continuously interact with the clients for auditing /
consulting services. There will be also no objection from the firms if any of the worker join the industry as he will definitely play the marketing officer role for the firm for new businesses and security officer role for the existing businesses.
Usually the students remain in touch with the prospective employer at times of Audit / Consultancy , knowing all the strength and weaknesses of the employer they are able to judge better about the financial prospect of the client. On the other hand employer also knows about the prospective employee and interact with him/her at the time of audit/consultancy.
These interaction will make the employment decision easy for both the parties.
One thing is sure in corporate world, salary is not a matter for ideal/suitable candidate. Company will prefer to offer 25K to known candidate for the business than to offer 10k to unknown candidate for the business.
In this financial crisis also , only those people are terminated who was unable to contribute benefits for the organizations. Like sales people (no new business).
Having a good contacts in the market due to audits / consultancy of various clients and also having the CA at decision making places , its become easy to get job with good salary.
No other profession will guarantee you a good job than CA in Pakistan.
Now about saturation OF CAs or other qualification intervene in the market , it doesnt matter at all. Only matters is the economy of the country.
Previously the banks having two departments Audit and Finance where normally CA are appointed , now the banks having Audit / Finance / Compliance/ Investment / Credit Administration/ Risk management /Inspection/ etc etc. In each of the area CA are welcome to join.
Currently in CAs trend of joining Govt organizations are not found. But Govt departments are also offering good salaries for CAs like Audit & Inspection dept., Statistics Department etc.
With the implementation of Basel II accord in the banking industry the demand of CAs will increase in all the industry , the requirements of financial statements for credit transactions from borrowers, and allocation of rating for each individual borrower in the bank will open the new markets for CAs.
The accounting profession will definitely grow in Pakistan and no doubt the first salary receive by CA in Pakistan will be more than any other professional first salary.
In my opinion there is no comparison between ACMA or ACA both are in different lines and having different structure. An ACA will not negotiate in salary only on the basis that ACMA is also a prospective candidate for the same job and vice versa for an ACMA. Further I personally never seen any situation where ACMA is asking for less salary because of ACA. Both have different market demand and ask for salaries according to that.
Best Regards
I will discuss here only the salary issue
Why CA will get more salaries in the market?
It is only because of CA firms, as you aware that ICAP has fixed stipend rates and usually as you grow in firm your stipend will increase.
In almost 99% cases when articleship period completed the student can continue with the firm. The salary structure is different in each firm but they are giving good salary with leaves on each exams.
This will become the threshold level, a student will not join the industry in less what he is currently earning in the firm.
After passage of each interval of time the salaries are increasing in the firms and so the salary demand is also increasing.
Audit firms continuously interact with the clients for auditing /
consulting services. There will be also no objection from the firms if any of the worker join the industry as he will definitely play the marketing officer role for the firm for new businesses and security officer role for the existing businesses.
Usually the students remain in touch with the prospective employer at times of Audit / Consultancy , knowing all the strength and weaknesses of the employer they are able to judge better about the financial prospect of the client. On the other hand employer also knows about the prospective employee and interact with him/her at the time of audit/consultancy.
These interaction will make the employment decision easy for both the parties.
One thing is sure in corporate world, salary is not a matter for ideal/suitable candidate. Company will prefer to offer 25K to known candidate for the business than to offer 10k to unknown candidate for the business.
In this financial crisis also , only those people are terminated who was unable to contribute benefits for the organizations. Like sales people (no new business).
Having a good contacts in the market due to audits / consultancy of various clients and also having the CA at decision making places , its become easy to get job with good salary.
No other profession will guarantee you a good job than CA in Pakistan.
Now about saturation OF CAs or other qualification intervene in the market , it doesnt matter at all. Only matters is the economy of the country.
Previously the banks having two departments Audit and Finance where normally CA are appointed , now the banks having Audit / Finance / Compliance/ Investment / Credit Administration/ Risk management /Inspection/ etc etc. In each of the area CA are welcome to join.
Currently in CAs trend of joining Govt organizations are not found. But Govt departments are also offering good salaries for CAs like Audit & Inspection dept., Statistics Department etc.
With the implementation of Basel II accord in the banking industry the demand of CAs will increase in all the industry , the requirements of financial statements for credit transactions from borrowers, and allocation of rating for each individual borrower in the bank will open the new markets for CAs.
The accounting profession will definitely grow in Pakistan and no doubt the first salary receive by CA in Pakistan will be more than any other professional first salary.
In my opinion there is no comparison between ACMA or ACA both are in different lines and having different structure. An ACA will not negotiate in salary only on the basis that ACMA is also a prospective candidate for the same job and vice versa for an ACMA. Further I personally never seen any situation where ACMA is asking for less salary because of ACA. Both have different market demand and ask for salaries according to that.
Best Regards
