Supply and Demand of Accounting Grads
I have been reading a lot about this 'CPA' merger on different forums and Reddit posts and yes it is really unfortunate that this merger killed the charm of 'Chartered Accountancy (CA)'. I have seen a lot of people posting on forums that they are studying for CPA or even some are qualified but they are still jobless and can't find relevant high paying employment. It's all about supply and demand. Before this merger, CA was highly respected and prestigious.
You finish your university with really good grades and you compete for a training position with top firms and you pass all entrance and evaluation exams to secure the position then they pay for your fees and after three years of training and passing all exams, you are a fully qualified Chartered Accountant. Damn! it is worth the grind because everyone looks at you like you are some kind of a money-making machine and a hotshot. Supply and Demand matters because only some candidates can make it through because of limited audit article training positions, requirement top university grades, and passing CA exams in the first attempt. They kick you out of the firm if you fail your exams more than two times.
But now after this merger, all those CGA candidates who never started university and CMA candidates who know nothing about Assurance and Corporate reporting have this 'CPA' designation. I have even heard that exams of this new 'CPA' program are much easier than legacy 'CA' program. On top of that, you don't need to work for an Authorised training office or employer so they have really ruined the designation. Those people are lucky who still can write 'CPA, CA' on their resume and can show their public accounting experience. It is so hurtful that most of the job ads now ask for CPA (CA, CGA, CMA) and they offer shitty salaries.
You finish your university with really good grades and you compete for a training position with top firms and you pass all entrance and evaluation exams to secure the position then they pay for your fees and after three years of training and passing all exams, you are a fully qualified Chartered Accountant. Damn! it is worth the grind because everyone looks at you like you are some kind of a money-making machine and a hotshot. Supply and Demand matters because only some candidates can make it through because of limited audit article training positions, requirement top university grades, and passing CA exams in the first attempt. They kick you out of the firm if you fail your exams more than two times.
But now after this merger, all those CGA candidates who never started university and CMA candidates who know nothing about Assurance and Corporate reporting have this 'CPA' designation. I have even heard that exams of this new 'CPA' program are much easier than legacy 'CA' program. On top of that, you don't need to work for an Authorised training office or employer so they have really ruined the designation. Those people are lucky who still can write 'CPA, CA' on their resume and can show their public accounting experience. It is so hurtful that most of the job ads now ask for CPA (CA, CGA, CMA) and they offer shitty salaries.
Last edited by hexaaa on Jan 27th, 2020 8:53 am, edited 2 times in total.
Freely they stood who stood, and fell who fell.