CA Nikhil N
A small disclaimer before proceeding – this is my first write up and I hope you rate me on same basis. Before reasoning why I prefer Practice over the other, I would like to confess straight away that none of them is superior over the other. Choose what you would like be in future, choose where you want to see yourself some years down the line, whether as a CEO/CFO/the likes or a successful entrepreneur of something of your own. It’s just the passion and the interests which makes you prefer one over the others and which is different for each individual, I believe.
As stated in my topic name, I prefer Practice (or rather say, I am into practice clearing this May’2015). My first motivation to get into this, I would say it would be – “I would love to have a business card stating myself as Owner of something (Proprietor/ Partner) rather than a resource of someone else”. The lines would portray me as Selfish and Egoistic person, I would not like to counter that because every successful entrepreneur would have asked himself that question once. Doing something on your own, gives you higher responsibilities, gives you more scope for learning, improvising, innovating and succeed. New ideas are developed when you can stand on your own,think on your own. A great person once said – “Try to always believe there is a First time for everything and U could be that First person” (with due credit to my own quote, that great person is myself). And I believe practice would serve better to inculcate the above words in your life with more freedom in your work area. When you practice, you are assigned works by yourself, which makes you get into things deeper and may fetch you better results and results which nobody has produced results before (for instance, reading a provision, analysing it and interpreting in a way never done before and accepted legally).
But I would again repeat, the article was not to boost on the Practice and not it has better picture than Employment. I was just providing what you get to see and experience if you choose Practice. On a final note, I would like to say that people tend to compare each other and analyse what they have to choose over the parameters like
Money; Risk; Public image; Time needed for Results; Long term picture; Work and Personal life balance; others (if I forgot any)
But I believe all the above factors have equal weightage under both Practice and the Employment. What you really need to consider to make a right choice is – Meet an employed person successful and happy with what he is doing and also a successful Practitioner; Picturise both of their lives, pros and cons, what is making them do what they do; what are the moments that they wait to experience; then analyse yourself and choose where you want to be.
With Best Wishes to whatever you choose
(I can be reached at nikhil.n.achari@gmail.com)
I think in India, considering the complexity of law, joining or forming partnership will be better option so that each partner can specialise in different field of practice and all will be benefitted.
A successful practice is dependent upon the contacts that a professional have with businessmen and at the corporate level. More so, if a person is a first generation professional. Mere qualification would not suffice. Also, specialization in a particular area or a subject is a must. There are plenty of scope in practice and the only challenge is finding the right opportunity vis-a-vis a contact, whereby a businessman wants a particular professional service and a professional who has the competence to do it. If these two people meet, there is a professional work. All said and done, practice is always better in the long run considering the level of independence, variety of work, knowledge, recognition, self respect, money etc.,
Yes – Practice and Job both have their own plus and minus points – but final choice depends on ones own decision, circumstances and satisfaction – so everyone is true according to them — in expressing their own view
I appreciate you sir.