People who are studying for CA in Pakistan often think to themselves what they should do after CA, particularly what should they choose; industrial training or firm articleship. CA students may find the best institute for CA in Pakistan to study and get guidance from but in the end, it is up to them in deciding what do they want to do after.
Well, you do not have to worry as we have listed down the pros, cons and the differences between industrial training and firm articleship, that may help you decide which of these options is suitable for you.
What are Industrial Training And Firm Articleship?
Industrial training is only allowed in the last year of practical training where the trainee will have to train in a particular factory or industry. CA trainees may get jobs in major multinational companies with this training. Whereas, a firm articleship is when training is done under a qualified CA or a chartered account firm. The trainees have to be trained for 3 years.
Advantages And Disadvantages Of Industrial Training
A trainee will have decent industry exposure and there is an increased chance of you receiving a good income. Furthermore, if you want to work in corporate then industrial training is for you as you will learn the culture of the company and the communication skills needed to survive while training. If you train under a well-known MNC then you will have a broader future as the name and the reputation of the company will help you get more interviews. Not only this but you will learn more while doing training in an industry as compared to training under a chartered accountant.
However, there are certain drawbacks to industrial training. The trainees may miss out on their CA exams due to the leave policies of the industry or factory. Due to this, the trainees must check the policies of the particular factory or industry beforehand. As the trainees are new in the industry and do not have any experience beforehand, they will not be prepared for the real experience.
Advantages And Disadvantages Of Firm Articleship
Many students can appear for their CFAP exam after training for 1.5 years while working under a firm articleship, depending on the firm. CA students can learn how to audit and do taxes. The most important benefit of articleship is having job security, which is not the case with industrial training.
On the other hand, trainees will have a lot of work pressure. It should be kept in mind that the work they will do will become monotonous as they will be doing the same tasks all year. Moreover, trainees who have done their practical training in known companies will get preferred for an articleship.
Many CA students have to consider different aspects while choosing between doing a firm articleship and industrial training. Students must know that if they want to know about the financial world then they must work under an articleship. Whereas, if you want to learn about the cooperate culture then they may choose industrial training.