A Guide to Shape Your Career with Accounting & Finance
It doesn’t matter if you’re a high school student who’s just discovered a new penchant for the numbers, or a graduate looking to change streams and start a brand new career in accounting finance, here is a comprehensive guide to help you get started no matter what phase of life you are currently in!
Let’s start from the very beginning.
Start from high-school
If you are one of the lucky few who have already discovered a passion for accounts well before high-school, the first step would be choose the commerce stream for your high-school specialization in India. An education in the commerce stream equips you with the much needed basics of accounting that will form the cornerstone to your career! The most common combination of subjects offered is business studies, accountancy, business mathematics, economics and marketing. However, do not worry if you specialized in the different field! You are still eligible to pursue an undergraduate degree in accounting or finance, even if you are from a completely different stream! A career in accountancy and finance is highly lucrative and evergreen as accounting personnel are indispensible to any organization.
This might be the right time to take a look at the various career paths that you could purse in the field of accounting and finance:
- Chartered Accountant
- Company Secretary
- Financial Analyst
- Actuarial Scientist
- Income Tax Specialist
- Risk Analyst
- Economic forecaster
Choosing your degree according to your interests
For most of the above mentioned positions, with the exception of CA and CS, the first step would be to enroll in an undergraduate program such as a
Bachelors in Commerce (B.Com)
There are various kinds of B.Com courses on offer in India and a B.Com in Accounting and Finance is the perfect go-to choice for who wants to make a career in the accounting sector. After this 3 year degree, one can join directly as a junior accountant or go on to do a master’s program in the same area or choose a different area of specialization.
Professional accounting degrees like CA
Chartered Accountancy is a professional course which consists of three levels: base, intermediate, and finals. One needs to clear each stage and then they will move one by one towards the next stage. This course necessitates a 3 year mandatory practical training, at the end of which people will be awarded the degree. With this degree, you could bag high profile jobs in the top most tier of any organization!
Consider the Association of Chartered Certified Accountants ( ACCA) degree a global equivalent of CA. Individuals who take up this course will effectively be able launch a career among the top accountants of the world. There’s a minimum of 13 papers and a mandatory 3 year practical exposure that a student needs to complete!
Diploma in Accounting
A diploma in accounting is perfect for those considering a career switch and do not wish to go through the formal chains of education. It is usually a short-term course that goes up to 2 years in total. Notably, there are no pre-requisites for enrolling into an accounting diploma program!
All that being said, curious how much money you will be able to take home as an accountant?
An accountant can take home anywhere between 8,000- 1,50,000 per month, depending upon his experience and qualifications! The amount may even go up to 3,50,000 and above if you bring the commensurate value to the table. We wish you all the very best in all your endeavors in the field of accounting and finance!