This discussion is majorly focused on our newly enrolled chartered accountants who have recently cleared CA final and are still in a dilemma what to do next.
It's never easy to choose the path for our professional career. We need to stay focused on the path and do not derail from our track. There are lot of questions arising in our mind whether to go for practice or a job. Whether to choose finance, audit, tax, ? But believe me many of our fresher's land up themselves in a wrong path because of lucrative monetary benefits.
My opinion is first we need to understand that for which segment we want to proceed. Always have a long term vision rather than a short term goal. Money is always a short term goal however achieving professional excellence is always a long term vision.
Here, I would like to narrate my story how i choose between practice and job. I cleared my finals in 2017 but was already working as a tax executive in my firm since 2015. On clearing my exam my senior partner offered me partnership. It was a tough decision to make. I told him that I need sometime to think over it and presently i am not ready with partnership so I bought myself a year to wisely think on the opportunity, because partnership is your professional marriage which lasts almost forever.
Now its not that I had not explored any other opportunities. I applied for Big 4, other corporate companies and was also selected in few with decent package for a fresher. But than I asked myself is this the thing you really want to do ?? I always had a dream to start my own practice but than you know being a fresher and starting a own practice with no contacts was really too hard for me with already some financial obligations to fulfill monthly.
I then frankly approached my senior partner that "Sir, i am really confused what to do ? Which way to choose?" He was the one who made me understood that always think of long term vision and not to go for achieving short term goals, Your long term vision will by default help you in achieving your short term goals.
But the dilemma does not end here. I took guidance of my principal CA (under whose mentor-ship i completed my training), another Chartered Accountant of a very reputed CA firm in Ahmedabad and my elder cousin brother (who is also a CA). And finally i agreed for the partnership as this was the path where I could achieve my ultimate dream of practice and the liberty to explore each and every segment I want.
Same line of understanding is to be applied when you opt for a corporate profile. To choose between practice or job is not the point i am mentioning. But whether you choose job or practice always keep in mind your ultimate long term vision.
At the time of choosing a corporate profile think wisely is the profile you were looking for ? Am I choosing correctly ? Am i going to achieve my ultimate vision ? Will i be satisfied with the work ? If these questions are answered correctly than only opt for the respective profile. But a slightest doubt in your mind can lead you to a wrong path and then taking a "U" turn is very difficult.
Many of them choose a profile just because of a higher pay-scale or good monetary package. But than after few months or may be a year or so I see them switching jobs frequently that should not happen.
"Just to achieve short term monetary goals do not sacrifice your long term vision."
Disclaimer: The above discussion is my personal opinion and not for any specific person or group of persons.