Any advice/help on pursueing a CA

[darklord700]

Originally Posted by The Yen Man

All I'm saying is, if you have a choice between the 3, go for the CA. Nobody ever decides to go for a CGA or a CMA over a CA becuase they want to. They do so because they're forced to (ie. back up plan since CA didn't work out). That's the reality.

That's true. But it is also true that nobody decides to go to U of C, U of A instead of Harvard. They did it because of money, grades etc. But just because you are a Harvard grad, it doesn't mean it's smooth sailing for the rest of your live as well.

[The Yen Man]

Originally Posted by darklord700

That's true. But it is also true that nobody decides to go to U of C, U of A instead of Harvard. They did it because of money, grades etc. But just because you are a Harvard grad, it doesn't mean it's smooth sailing for the rest of your live as well.

For sure. I'm not arguing that having a CA means you're automatically set in your career, or that it will mean for sure you're going to be ahead of someone with a CGA or CMA. It definitely depends on the person. But part of doing the CA program is gaining that valuable articling experience that the CMA and CGA progams don't do. People don't work as a dog doing 70-80 hours a week articling because they like it.

All I'm saying is, the average CA will earn a higher salary than the average CGA or CMA. There's a reason why the CA program is a lot tougher than the CMA and CGA programs.

There really are only 3 reasons why people choose to go a CGA or CMA over CA.

1.) They couldn't get into the CA program because they couldn't get a job at an accounting firm (my reason)

2.) Their current diploma or degree doesn't transfer over to the CA program (so they would have to start from the beginning)

3.) They got into CASB, but couldn't handle the workload.

[Shaggin Wagon]

Originally Posted by The Yen Man

But hypothetically, if you came out with a Science degree, and decided to do accounting, and both routes (CA vs. CGA) were equally available and both equal in workload, would you not have gone the CA route?

CGA of Alberta made themselves more accessible. I choose CGA because they have online learning and that helps when working full time. I could have done more research onto the CA and CMA programs but CGA had it all laid out.

[THE SCUD]

Originally Posted by darklord700

CA is generally the better designation. But once you are in the industry, the differences aren't that apparent. I've seen CMA/CGA in a big company making $150K as an analyst plus bonus and perks. And I've seen CAs doing contract work for very little. It's all over the map, CAs have some theoretical advantages over CMA/CGA for sure. But in reality, the differences aren't as material as you might think.

Marvin Romanow was the CFO of Nexen two years ago, and he is what? An engineer without a CA or even CMA/CGA.

The truth is people are much better educated nowadays and luster of the letters, be it CA/CFA/CMA and some such don't count for much nowadays.

That is a huge exception and not the norm

CA's are paid more, are 80+ percent of controllers and 90+ percent of CFOs because they are the best at what they do. Their training, unequaled in lesser designations, gives them a leg up that is carried through their career.

As far as I am concerned, there are CA's and then there is everything else. CMAs are CGAs have their niches of expertise, and there are many good CMAs and CGAs, but if you're looking at the designations as a whole there is no equal to a CA.

[MoneyGuy]

Careful, OP, as the CA you're pursuing could get a restraining order. Why not talk to a CA and ask advice?

[darklord700]

Originally Posted by THE SCUD

CA's are paid more, are 80+ percent of controllers and 90+ percent of CFOs because they are the best at what they do. Their training, unequaled in lesser designations, gives them a leg up that is carried through their career.

This fact, to me at least, is of little relevance to the general public. Because most accountants don't make it to the contorller/CFO level. Even in Calgary, we have the second most number of big corporations in Canada, how many high profile controller/CFOs jobs are out there?

I'm not talking about the controller/CFO of a twenty people company, but mid to big size corporations that pay their CFO at least $200K plus bonus. it's a step that most people will never achieve regarless of their designations.

It's like telling your kid to play baseball because MLB pays the most amongst all sports leagues.

From the beginning, CAs are better trained. But after say ten years in the industry, I find the proficiency of the three designations tend to average out with industry and work experience taking precedent at that stage.

[The Yen Man]

My advice is, if you're starting from the beginning, and don't mind the hard work, go for the CA first. If that doesn't work out, then go for the CMA or CGA. You're better off building the best solid foundation as you can, and I don't think you can argue CA's give you the best foundation of the three, and will give you a leg up in the competitive job market.

Of course, once you've been in the industry for a few years, it's your own work ethic, personality, and ambition which will carry you upwards. The CA is just another tool in your belt of work skills.

If I had to start over, I would definitely try harder into the CA route. But at my stage of my career, I'm pretty entrenched where I am, and I am not willing to start from the beginning again (articling) and make crap wages working twice as hard as I'm working now. I'm pretty satisfied with my work life balance so far, and I have no dreams of being a controller or higher of a big company. I'm ok with middle management.

[THE SCUD]

Originally Posted by darklord700

This fact, to me at least, is of little relevance to the general public. Because most accountants don't make it to the contorller/CFO level. Even in Calgary, we have the second most number of big corporations in Canada, how many high profile controller/CFOs jobs are out there?

I'm not talking about the controller/CFO of a twenty people company, but mid to big size corporations that pay their CFO at least $200K plus bonus. it's a step that most people will never achieve regarless of their designations.

It's like telling your kid to play baseball because MLB pays the most amongst all sports leagues.

From the beginning, CAs are better trained. But after say ten years in the industry, I find the proficiency of the three designations tend to average out with industry and work experience taking precedent at that stage.

CA's make more in every year of experience as compared to a CMA/CGA. At no point (besides the first 3 years of articling) does a CMA average more than a CA - I was using that as an example at the high level.

Did you know in Canada that CA's are the highest paid professionals, on average?

I'll use a lower level example: Financial Anaylsts are 90+ percent CAs and there are many in Calgary and they make much more than a comparable operations analyst (CMA) or whatever CGAs do in Calgary that isn't personal tax (met one in all my articling and corporate finance time).

Regardless of what you end up doing, if it needs a professional accounting designation, you'll make more and have more career paths if you have a CA versus the other two.

However, there is a lot more work and 3-4 years of articling for peanuts, so it's not a great 30+ year old's second career. for those folks I suggest a CMA for sure.

[bradster57]

The CA has the highest prestige of the three designations but if you want to advance in accounting, you need one of the three. It's becoming a bare minimum.

CA has the hardest route. Articling while working many hours for peanuts is a tough road. It is worth it in the end with strong accounting theory and knowledge. Great for external reporting.

I'm a CMA and know the most about that route. After the entrance exam, it focuses more on strategy and leadership versus technical accounting. In 2010, the average salary for a CMA in Alberta was $141,400 and the median was $120,000.

I don't know too much about the CGA program but they do focus on technical accounting.

You can excel with any designation- often times it is not the designation that defines you but it is what you do with it. I've worked with excellent CAs, CMAs, and CGAs over the years.