One of the main decision facing a newly qualified or Articles completed part qualified, is whether to stay in the profession for his job or join industry. Obviously, the decision also depends upon one's qualification status, ambitions etc.
Industry jobs are thought to be better paid, in terms of monetary reward, than jobs in practice. However, I believe that the profession is catching up in terms of monetray reward as well these days.
What are your opinions? Is it better to stay in profession or move to industry??
Dear,
In my view profession is best. It gives more test to one's capabilities, more variety of work, varied knowledge, diversified exposure and real elevation.
The drawback is of amount of time one has to invest for reaching an elevated position.
Industry comparatively gives more rewards in monetary meanings and financial stability could be achieved somewat earlier than the profession.
However, in the longer run, profession remains on higher side, even in earnings.
Rare cases are not being discussed.
I prefer profession.
Regards,
KAMRAN.
I absolutely agree with Mr KamranACA,
I want to add further through example, i recently received an email from ACCA Pakistan that ICI wants to induct 4 to 5 ACCA Fundamental series qualified students to train them in their circumstances and initially they were offering 20K to 30K for trainees, students with A Levels or CAT finalist background were preferred, as you know that we pakistani people are very much keen in currency figures(this is our general behavior) so lot of my friends were highly motivated to drop their CVs in ICIs HR Dept but when i talked with them and told them the comparisons most of them changed their minds.
I told them the comparison that if you join industry as a basis of you career then it will be difficult to learn many complex things at this learning stage although you will be a master in routine tasks at this particular organization but this will not give you edge when you switch to another organization but on the other hand if one person joins profession then he can enjoy so many learning opportunities and these varied tasks make him a perfect accountant.
Regards,
Muhammad Amir
Dears,
It is known to all of us that industry pays better. However, general view point is that there are better learning opportunities in practice, and one's chances to qualify (for part-qualified) are greater in practice.
But some times remuneration difference becomes huge, and people may be paid twice in industry as compared to practice.
<font color="navy"></font id="navy"><font size="4"></font id="size4"><font face="Century Gothic">Well, it seems we don't have any member from the industry amongst us.... I myself personally prefer pratice than industry, mainly owing to the challenges it offers and the opportunity for professional growth and enrichment it provides.
However a valid question arise here is Shall one stay in the profession for the whole of his career or move to the industry at some later stage? Although it is not a necessity, but mostly people move to the industry at some stage.
The profession is changing globally and its reshaping the things back in Pakistan as well, I believe. Now, more foucs is on specialization. The audit sphere in itself is divided into industry wide segments for Financial Services, Resources & Energy etc. What it implies is that you nomore have the opportunity of getting that diversified exposure across the different industrial segments, once available. Consequently, you are bound to a single industry even in practice and will specialize in this particluar niche. So, it is the same in consequence to the industry job, which as Amir pointed out will let you specialize in the particular industry u join.</font id="Century Gothic">
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">However a valid question arise here is Shall one stay in the profession for the whole of his career or move to the industry at some later stage?<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
In my opinion one has to atleast stay in profession for 8 years(3years of articles plus five more years).
Regards,
Muhammad Amir