Domains in Articleship
I saw a post asking for clarification for the same, so thought of making a post about all the major domains available in the market.
A bit about me, I did my Articleship from a big 6 firm in stat audit and currently working in a big4 firm in stat audit only, so I will try to keep my analysis unbiased. Also I cleared all my levels in my first attempt, with both groups at the same time in both inter and final level. So let's jump into it
Direct Tax
One of best domain, if u wish to start ur practice down the line or are really passionate about direct tax. Big6 shouldn't be preferred for direct tax, as they take only advisory cases, and company tax filing, so the work there can be clerical, but the exposure is great, as u will only get to work on the complicated tax matters and not the routine ITR filing,which is usually done by small firms. Also work hours in tax even in big6 are relaxed to a certain extent
Internal audit
It's a good domain but only if u do it from big4 or Protivi and Mazars. Don't join small firms for Internal audit as u would be asked to prepare the financial there. Also, the only lateral movement possible from here is the client internal audit team, as it's not a fully accounting role nor a compliance role. Personally I keep this as a option 3.
IDT
Don't join this domain, unless u are going to start ur practice in the next 5 years. As GST is an ever changing law and it's not a bulky one like income tax, so its demand is very less.
Stat Audit.
If u can't decide, which domain to go for, just join stat audit.Its opens the doorway for all other domains expect Taxation. Plus stat audit always have vacancy. But u can't start ur practice if u did ur Articleship in stat audit, as majority of work with small firms is of direct tax. Also there would be long siting hours during peak season, so be mentally prepared for that. Working till 11-12 would be normal in September and April. If u are joining small firms or mid size one , always enquire about the work environment from other articles working there , u can connect with them on LinkedIn,just don't get too Frank and don't tell them u have given the interview.
Niche domain
They are mostly hit and miss, transfer pricing,M&A Tax, FDD are currently the hotshot ones but there vacancies are limited and u would be entering a niche very early in ur career. U may find it hard to switch later on.
If u have any further doubts, feel free to DM or comment below.