07-25-2009, 10:17 PM
<i>So its ACCA part 2 and ICAP intermediate are getting same salary in firm in Pakistan. However ACCA students normally do not stay in firms because of salary reason as someone who is paying fees in pounds will naturally not accept salary of couple of thousands Pak ruppes. Moreover, I came to know through this site that ACCA is expensive and ACA from ICAP is cheaper. I am not making any distinction but its reality (given facts in Pakistan) that ppl doing ACCA are relatively well off than ppl doing ACA from ICAP, so salry offered to trainees in firms in Pakistan is not acceptable to ACCA students that is why they prefer to fly to UAE. </i>
No mroneflower1 its not the same in all cities of Pakistan. In big 4 firms in karachi ACCA affiliates are getting more salaries that CA inters. While ACCA part qualifieds are getting slightly lesser that CA Inters. In medium sized and small sized firms ACCAs and CA inters either get same salary or less that CA inters.
In Lahore and Islamabad the situation is different. Only KPMG and EY invite part qualified ACCA trainees and that too with strong reference.Smaller firms accept them but with lesser stipents around 4,400 etc. Firms Generally donot accept part qualified ACCAs because they leave firms after sometime. The rule in most of Big 4 is that ACCA must be full qualified and eligible to be registered with ICAP. PART QUALIFIED ACCAs IF TAKEN ON INTERNSHIP ARE NOT GIVEN ANY STIPEND AND INTERNSHIP LASTS 6 months. IF DUE TO SOME STRONG REFERENCE THEY ARE GIVEN TRAINING FOR ACCA then the stipend offered is Rs5500.
Actually the reason why ACCAs leave the firm is not because ACCA is expensive and they are given lesser stipends. As you said only well off people do ACCA. Yes its true only well off people can afford it so finacially they have no problem. The reason why ACCAs quit CA firms is they have better chances of getting a good job, after qualifying, in middle east as compared to CA Inters. So they keep looking for jobs and then leave firms as soon as they find one. This created problems for the next generation of ACCAs and they are finding it very difficult to enter in Leading firms. I repeatedly urge my ACCA and CIMA fellows in different firms and schools and colleges to dont weigh your life in firms in terms of money. You donot need money at the age of 20 or 21. You should look for experience. Spend your 3 years very carefully in these firms if you get into and learn something. These 3 years which you spend in a big 4 at a very low stipend will give you a huge reward in the later years of your life.
Trainees opinion change about firms ONCE THEY FINISH THEIR TRAINING. You will dislike your firm only before joining it or in the initial months. But after that you will enjoy your articles life and believe me 'pata bhi naheen chalay ga yeh period guzar jae ga'
Those people suffer, cry and never go high up in their lives who quit the firms in 1 years time. When they find jobs abroad, foreign employers often request Big4 firms to provide opinion about how the person was. In most of the cases firms send negative feedback and it turns out to be a huge blow for the person.
You asked about me whether i will be given any high stipend or not I am still too young to worry about money. May be I am different from others but I donot weigh things at this stage in monetory terms. I believe my focus is firstly to qualify and secondly to learn to work, thats all. Once these 2 things are achieved then money itself will flow to me. -) My advise to everyone is never be short tempered and dont spoil you future in hasty decisions. Getting into big firms is not an easy thing and once you get it start respecting it and be thankful about it and always remember you are very close to a remarkable career in your life, dont spoil or waste your chance.
No mroneflower1 its not the same in all cities of Pakistan. In big 4 firms in karachi ACCA affiliates are getting more salaries that CA inters. While ACCA part qualifieds are getting slightly lesser that CA Inters. In medium sized and small sized firms ACCAs and CA inters either get same salary or less that CA inters.
In Lahore and Islamabad the situation is different. Only KPMG and EY invite part qualified ACCA trainees and that too with strong reference.Smaller firms accept them but with lesser stipents around 4,400 etc. Firms Generally donot accept part qualified ACCAs because they leave firms after sometime. The rule in most of Big 4 is that ACCA must be full qualified and eligible to be registered with ICAP. PART QUALIFIED ACCAs IF TAKEN ON INTERNSHIP ARE NOT GIVEN ANY STIPEND AND INTERNSHIP LASTS 6 months. IF DUE TO SOME STRONG REFERENCE THEY ARE GIVEN TRAINING FOR ACCA then the stipend offered is Rs5500.
Actually the reason why ACCAs leave the firm is not because ACCA is expensive and they are given lesser stipends. As you said only well off people do ACCA. Yes its true only well off people can afford it so finacially they have no problem. The reason why ACCAs quit CA firms is they have better chances of getting a good job, after qualifying, in middle east as compared to CA Inters. So they keep looking for jobs and then leave firms as soon as they find one. This created problems for the next generation of ACCAs and they are finding it very difficult to enter in Leading firms. I repeatedly urge my ACCA and CIMA fellows in different firms and schools and colleges to dont weigh your life in firms in terms of money. You donot need money at the age of 20 or 21. You should look for experience. Spend your 3 years very carefully in these firms if you get into and learn something. These 3 years which you spend in a big 4 at a very low stipend will give you a huge reward in the later years of your life.
Trainees opinion change about firms ONCE THEY FINISH THEIR TRAINING. You will dislike your firm only before joining it or in the initial months. But after that you will enjoy your articles life and believe me 'pata bhi naheen chalay ga yeh period guzar jae ga'
Those people suffer, cry and never go high up in their lives who quit the firms in 1 years time. When they find jobs abroad, foreign employers often request Big4 firms to provide opinion about how the person was. In most of the cases firms send negative feedback and it turns out to be a huge blow for the person.
You asked about me whether i will be given any high stipend or not I am still too young to worry about money. May be I am different from others but I donot weigh things at this stage in monetory terms. I believe my focus is firstly to qualify and secondly to learn to work, thats all. Once these 2 things are achieved then money itself will flow to me. -) My advise to everyone is never be short tempered and dont spoil you future in hasty decisions. Getting into big firms is not an easy thing and once you get it start respecting it and be thankful about it and always remember you are very close to a remarkable career in your life, dont spoil or waste your chance.
