10 Big Benefits of Working in a Small Firm

As a CA student we all dream to pursue our articleship training from one of the Big Four Firms, however only few of us manage to get it. If you don’t manage to crack the interviews at a big four firm, or if you live in a city where they don’t have an office, don’t be disheartened. It is not the end of the world. Sure, the exposure offered there would be different to other small partnership firms, but it won’t be a big loss in the long run. I can assure you that working for a small firm could be equally, if not more, rewarding an experience.

“Don’t look at small business as a means to an end and a way to make money until the corporation hires you; look at it as a chance to create something of immeasurable value and beauty in a world that desperately needs it.” – Michael Gerber

Here’s a list of benefits of working for a small enterprise:

1. Freedom of Choice

In the case of big firms, they choose you, whereas in the case of small firms, you get to choose them. You will have the freedom to visit the firms in your city, ask about their exposure, meet the employees and then finally make a decision to join.

2. Decent working hours

The notorious working hours required to be put in by the articles of big four firms are a well-known fact in the industry. They barely have any time left to pursue CA final coaching and college education alongside their training. Small firms on the other hand usually understand the requirements of a student and will allow you to come in half an hour late or leave half an hour early.

3. Varied Portfolio

Since there are hundreds of articles signing up in big firms they are broken up into groups and assigned separate areas of work. A tax audit trainee in big four only does tax audit throughout his articleship training of three years. While in a small firm there will be just you and a group of few others, so all of the firm’s work will be divided amongst your crew. You will get to do tax, statutory, concurrent and all other types of special audits during your tenure. Even if you don’t get big clients, you will have a varied portfolio by the end of your tenure.

4. Hassle Free Study Leave

As exams draw close, getting leaves sanctioned is the only concern on a student’s mind. Usually small firms are not that rigid on attendance norms, and tend to cooperate with their articles regarding leaves. Leaves are readily sanctioned whenever needed, and there is a strong chance that you might get away with a few extra weeks of leave if you are on amicable terms with the staff.

5. Learn Management Skills

The managing partners deal with the articles and the functioning of the firm on a daily basis. The beauty of a small unit is that you get to see how the show is run. You will be able to watch the showrunner run the show live. You get to bear witness to all the behind the scenes action. In a large organization you only learn to do the job, in the small ones, you get to see how the application for an audit engagement I sent, how the terms are negotiated and for what reasons are engagements denied.

6. Independence

Usually in the unorganized sector there are no rigid structure to be adhered to. There are no fixed, pre-formatted forms in which you punch in data and it draws conclusions for you. The degree of independence in working for a small firm is probably its biggest benefit of all. By the time you are a senior article, you have the independence to develop you own audit program, fix a materiality level, design audit procedures and apply them.

You need a small firm without work barriers to put in action Steve Jobs’ words of wisdom from his Stanford University commencement speech, 2005; “Don’t let the noise of others’ opinions drown out your own inner voice."

7. One on one Interaction with the Partners

It may seem like a small thing but it makes a big difference in the environment, the partners, your staff and even your client’s staff will know you by name. To a small firm you are not just a trainee, you become a part of the team. The partner you work under will groom you to handle audits independently, you will most likely get the opportunity to sit and negotiate the points to be put in the report.

8. Unique opportunities

The small local firms get all sorts of odd jobs, which will enrich you on the journey of becoming a true professional. For example, you will get the chance to visit Income Tax office, GST office and Registrar office to represent your clients and learn to deal with government officials on the ground level. You may even get to visit court or attend AGMs of clients with your partners, some of this will never happen in case of big firms who have qualified staff for the same.

9. Time to pursue other qualifications

Work in small firms is usually seasonal, so when there is isn’t return filing deadlines, you will have plenty of time to pursue other education. Many people manage to complete CS or CWA or CFA or other professional qualifications along with their Chartered Accountancy. These additional qualifications will give you an additional edge during the placement interviews.

10. Bonding with peers

The saying,“???? ?????? ???? ??????” applies to the workplace as well. It makes for a better working culture if there are a small group of people who coordinate and cooperate with each other. The work experience in bigger organisation is often tarnished by office politics and idle gossip. You are more likely to make life long friendships in a small firm than a big four firm.

Thus, it can be safe to say, wherever you join, there will be plenty of opportunity to learn. Do not be disheartened if you don’t join where you had initially dreamed of. Life often doesn’t go the way we wish. What one ought to do is to make the best of the hand he is dealt. Always remember,

31-May-2020