馃攳
Salary after doing CA + MBA + LLB + ACCA + CFA + CS - YouTube
Channel: Taxation with CA Sahil Jain
[0]
Good evening!
[0]
Today I am going to tell you about two people.
[3]
Who is first?
[4]
First is Mintu, who became CA at the age of 24.
[6]
He has fetched just one qualification.
[8]
Second is Chintu who, at the age of 30,
[10]
has become ACCA, MBA, CFA, CA, LLB, CS.
[14]
He has fetched 6 qualifications.
[16]
So everyone should want to know his salary,
[19]
and I am going to tell you the same.
[20]
From this, you will get to know,
[22]
how many qualifications you should practically aim for,
[24]
how many qualifications should you have that is enough.
[28]
See this person,
[29]
if you individually look at any of these qualifications,
[32]
you can get any of these qualifications in 2 to 4 years and,
[35]
along with that, the salary that you will get here,
[38]
on average basis,
[39]
will be between 8 to 10 lacs.
[40]
If you fetched any of these qualification in an exceptional manner,
[43]
such as you did MBA from a premier college or,
[46]
you have achieved All India Rank in CA,
[48]
in that case you can get average salary of around 20 lacs.
[51]
So this was about Chintu,
[53]
if he had fetched individually any of these qualifications.
[56]
How much salary he could fetch is what I have told you.
[58]
But, here he has fetched all 6 qualifications,
[62]
and has not done any work,
[63]
practically hasn't worked in any company,
[65]
just studying since birth.
[67]
First in the school,
[68]
and after school,
[69]
he started to fetch all these qualifications,
[71]
due to which he has to study for up to 30 years.
[74]
Now he goes to market with an intention to earn,
[75]
try to think how much salary will he get?
[77]
As I said that on an average basis
[79]
you can get 8 to 10 lac rupees from these qualifications,
[81]
individually from any qualification.
[83]
This person has 6 qualifications.
[85]
Think about how much salary he will get?
[87]
I am telling you on the basis of practical experience,
[89]
it won't be more than 15 lac rupees.
[91]
If there is no rank here,
[92]
or hasn't done MBA from a fabulous college,
[94]
which means,
[95]
on average basis from individual qualifications
[97]
if you were getting package of 8 to 10 lacs,
[99]
even after fetching all these,
[101]
his package won't be more than 15 lacs.
[103]
Now you might think Chintu has invested so much time,
[107]
has spent at least 10-12 years
[109]
to fetch all these qualifications,
[110]
the increment is just 5 lac rupees?
[112]
Is it going to be beneficial for Chintu?
[114]
And practically should it be this much increment only?
[116]
According to us it should be more.
[118]
Let me tell you why it won't be more than that.
[120]
Assume that Chintu and Mintu both,
[123]
want to offer tax litigation
[126]
or tax consultancy services in India.
[128]
If you want to offer tax consultancy services in India,
[132]
then which are the best degrees in India?
[134]
If you talk about tax consultancy,
[136]
then CA itself is enough to tell you everything about tax.
[139]
If you want to go into litigation,
[140]
want to fight cases in the court,
[142]
then LLB additionally can be beneficial for you.
[144]
But other than these two,
[146]
you don't need to fetch any other degree at all,
[148]
if you have narrowed down your career
[150]
that I want to do this.
[152]
Assume that outside of India,
[153]
you want to offer tax consultancy services,
[155]
let's say in the UK.
[157]
Then you can do ACCA along with CA or,
[159]
ACCA itself will be enough,
[161]
because here you will be taught tax laws of UK.
[164]
This knowledge will help you when you work outside.
[167]
By studying tax laws of UK,
[169]
if you go into investment banking services in India,
[172]
then will this degree benefit you?
[173]
It won't.
[174]
In investment banking, this or MBA in finance or CFA,
[178]
these qualifications will benefit you.
[180]
The point that I am trying to make is,
[181]
There won't be any benefit of fetching so many qualifications,
[184]
if whatever qualification you have fetched
[186]
does not complement your career.
[189]
So what you need to think?
[190]
You need to think what to do, and for that,
[192]
there will be max to max 2 to 3 qualifications,
[195]
that can benefit you.
[196]
If you fetch more qualifications than that,
[198]
just adding degrees before your name,
[200]
you will not get benefit in the salary.
[202]
So if I had done just CA,
[204]
I would get average package of 8 to 10 lacs,
[205]
provided I did not get any rank.
[207]
If I had done just LLB,
[209]
I would get package of 8 to 10 lacs only.
[211]
I have done both of them together,
[212]
I would get package of 15 lacs,
[213]
whenever I go into litigation or consultancy services,
[217]
if we talk about the job.
[218]
Despite knowing that I want to do tax consulting,
[221]
in India only, and I have got both qualifications,
[224]
if I still spend 5 to 7 years of my life
[227]
fetching rest 4 qualifications,
[229]
then I am the biggest idiot.
[231]
Why?
[231]
Because these qualifications will just add a prefix in my name,
[235]
and will give no benefit.
[236]
There will be no increment in salary,
[238]
because these qualifications
[239]
do not complement my career choice.
[241]
It's not that there is a problem with these degrees,
[243]
but the career path that I have chosen,
[244]
these degrees and qualifications are not relevant in it.
[247]
So if you see here Mintu is much better off than Chintu,
[251]
if they both want to choose the same career path.
[253]
Let us say both wanted to do tax consultancy.
[255]
He started right after doing CA at the age of 24,
[258]
Chintu started after taking 6 qualifications at the age of 30.
[261]
This person will start at 8 to 10 lacs,
[264]
this person will start at 15 lacs at first.
[267]
There will be some benefit.
[268]
There will be benefit of these 2 degrees.
[270]
He didn't do LLB.
[271]
So you will get some knowledge here,
[273]
which will complement this person's knowledge of CA,
[276]
which will also be used in tax consultancy business.
[279]
So his salary will be more, but just think,
[281]
in 6 years,
[282]
how much experience this person would have gained .
[284]
And Indians are just not accustomed to think about experience.
[287]
Indian students, to be very precise.
[290]
A belief is built in our mind from childhood,
[293]
that if don't get a good salary, as much as you want,
[295]
then start fetching more qualifications.
[297]
What to do with qualifications?
[298]
There is something called experience too.
[300]
Sundar Pichai today earns 2000 Crore rupees from Google in 1 year.
[304]
Is he earning on the basis of his qualifications?
[306]
No.
[306]
Whatever qualifications he had got,
[308]
did all the qualifications
[309]
got him a package of 200 or 500 Crore package as a fresher?
[312]
No they did not.
[313]
From where did he start his carer?
[315]
He started from here and if today he is here, on 2000 Crore,
[318]
then it is based on his qualifications along with experience.
[321]
Your qualification determines from where your career starts,
[325]
but your experience determines where you will reach.
[328]
And never undermine experience,
[331]
otherwise you will keep gathering qualifications,
[333]
and there will be no benefit.
[334]
So my advice for you all is that,
[336]
fetch whatever qualifications you want,
[338]
do MBA if you want, do CA if you want,
[341]
do whatever you want,
[342]
but always ask yourself,
[343]
will this qualification actually benefit you or not?
[347]
Because whichever qualification you get,
[348]
it will get you a package,
[350]
but the future growth
[351]
will be based on your experience and hard work.
[354]
Study what may help you to set the work,
[357]
not that helps you to acquire renown.
[359]
We end the video on this note.
[360]
Take care of yourself.
[361]
Goodnight.
[362]
Bye bye.
Most Recent Videos:
You can go back to the homepage right here: Homepage