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Career as Partner of audit firm - smraza - 07-04-2004

I would like to have the comments from the members who are from ICAP,

What is better for a person who is freshly qualified he has two options,
1. Offer from a well reputed Bank in FinCon Dept. Salary Rs.45,000/- w/o car.
2. Offer to become a partner of a middle size firm, offer is initially to continue as a salaried partner (audit) and take 35,000/- plus Car. price ranging 5 to 6 lacs.

Please advice keeping in view the difficulties faced by the Audit firm i mean medium size audit firms.


- Pracs - 07-04-2004

Depends on what you want ? I guess the rewards from a medium sized practice will be more in the short term,.. then again a lot depends on what kind of business prospects are in the offing. I am sure you must have considered the pros and cons of working for a medium sized practice irrespective of remuneration. I feel that in a market such as Pakistan a lot more is at stake including one's professional independance.... then again I may be wrong.

Large corporates including banks do offer a reasonably good professional environ. Having said that, I think FI's have a tremendous scope to grow in the Pakistani economy. I'd say Practice would have been a better option only if it were a Big4 or a national practice atleast. Just my personal opinion ofcourse.

Lot more depends on if you'd like to be a small fish in a bigger pond or a big fish in a smaller pond.

- alatif - 07-15-2004

I myself am recently qualified C.A! I was also faced with the same situation. It is better u opt for the firm but keep in mind

Your salary will stick around 35-45 for some years.
It will be a long term investment .
Make sure u have something in writing as the existing partners usually show u the door if u can't bring in new business, (which will pay for your future share.) I have seen that a lot happenning!!!

- Masood - 07-15-2004

What I would like to know is is the name of this 'middle size' firm which is offering partnership to a 'freshly' qualified accountant.

In my professional opinion, stay away from such firms. Go for the multinational, definitely