Monday, August 6, 2007

Nursing or Accounting?

There is a big big difference between a CPA and an accounting graduate. Just like a Registered Nurse and a nursing graduate or a Lawyer and a law graduate.

The CPA exam is second lowest after Bar exams when it comes to passing rate. The good thing is, there is a high demand for certified public accountants both locally and internationally. BUT, maybe just like the nurses, CPAs need to spend 2-3 years in a reputable audit firm to be marketable abroad.

In Baguio City, current tuition fee for B.S. Accountancy is at average of 15K per semester (about 9K in 2000). While my estimate is 30K in UST, 40K in DLSU and atleast 20K in smaller universities. After graduation, a six month review will cost 10K maximum (7K in 2001). And thats it.

A senior auditor (3-4 yrs experience) in Middle East, Singapore or other parts of Asia Pacific, would normally start at around Php130K monthly. In the US at least Php200K, and Europe at least 250K.

Looking at the numbers, for a career outside Philippines, there is no big difference between accounting and nursing except for the starting pay. Nurses are likely to start at a lower pay but will eventually catch up. Forget about working environment blah blah.

The difference actually lies here in the Phils. First, the cost of education. Accounting is cheap. Nursing is almost no different to Medicine (because of some opportunists?). Second is the demand or availability of jobs. There is probably more jobless registered nurse than certified public accountant in this country. I have seen jobless certified public accountant (just months after passing the exam) and they look suicidal hehe. The pressure and expectation is just too much. But honestly, right now, not one CPA i know is jobless. The problem for nurses is the fact that local demand or job opportunity heavily relies on the government. Private health care is for the rich and so we only have few large private hospitals.

Financially, I think nursing is a high risk and accounting is more secure. Of course, ideally, the financial aspect should only come next to a more important factor... whatever it is.

“The best way to appreciate your job is to imagine yourself without one.”
- Oscar Wilde

By the way, there was a foto fest last week in Glorietta sponsored by Philippine Star.

One booth is selling lighting equipment and they thought the best way to promote is to let consumers have a try. Here is my attempt on one of the models (click image for best view).

Her name is.... Angelica Panganiban hehe. True enough serious photography is an expensive hobby. Lenses, tripods, bags, printers etc... all expensive.


deuts said...

Walang hiya. Naunahan pa ako magshoot sa isang totoong model...hehehe

So, for you the winner is accounting... pero mas maganda ata kung photography n lng...hehehe

edwin said...

deuts, yup accounting.. maybe true for the next 5 years.=) pano ba kumikita mga photographers? parang mahirap din, pero masaya for sure.

enjoy pala mag shoot ng model hehe.

Bill Bilig said...

Very convincing post. Siguro if I knew this when I was in college, I would have taken up accounting. Didn't know kasi that it will be in demand internationally eh.

edwin said...

hi bill, i believe the strong global demand for Filipino auditors and accountants was brought by American corporate scandals in 2002. The US and other first world countries suddenly enacted laws requiring more stringent corporate governance which created this global demand for auditors. Filipinos are very well in English, good in numbers and can actually work 24/7 in solitude.. perfect fit hehe.. cheers!

Lan Castro said...

hi edwin...just found your blogsite...kaya pala pag nagvisit ako sa xanga mo, wala update...

Nursing or Accounting? You know what, there were really times that I just wished I took Nursing instead of Accounting...maybe because of the hardship I experienced here in the US being an auditor...pahirap na kasi ng pahirap due to stringent laws and rules on financial if any accountant would want to settle in the US, it would take years before he gets his greencard. Nurses on the other hand get their greencard on their first step in the US. They also have more job flexibility and for sure they don't bring work at home...

Pero kung pera pera lang din...sige...ok na ako being accountant for now....hehehe.

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