Yes, doing an LLB after CA has many perks, as it broadens your skill set and opportunities by combining the financial knowledge from CA with the legal expertise from LLB, which helps in understanding corporate legal matters, taxation law, mergers, acquisitions, etc
Chartered Accountancy (CA)- A professional qualification in accounting and finance that plays a key role in a company’s financial matters because of its vast skill set in areas like taxation, auditing, financial planning, regulatory compliance, etc.
Bachelor of Laws (LLB)- It is a 3-5 year undergraduate law degree that prepares students and sets their foundation for legal practice and careers in law. It equips students with knowledge of legal practices, courtroom procedures, and laws, etc.
Advantages
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Career Opportunities- Having both qualifications would open a larger number of opportunities that require expertise in both finance and law, apart from the traditional roles in both fields.
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Better understanding- There are various aspects to everything in any business, so having an understanding of both the financial and accounting side, as well as compliance, regulations, contracts, etc helps you get a better understanding of any business matter
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High Demand- People with skills in both finance and law can specialize in growing fields like tax law, financial regulations, mergers and acquisitions, etc as these fields have better opportunities and high demand, thus better pay.
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Helps in standing out- Dual expertise makes a lot of difference in the way employers, clients, etc. see you, as it shows your dedication, vast knowledge, and various other skills, which leads to faster career growth and better pay.
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Leverage- Having dual expertise can help in taking on various diverse roles, which acts as leverage in this ever-changing competitive job market
But there are some disadvantages to it as well.
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Time and effort consuming- both CA and LLB are highly demanding courses that require a significant amount of time and studying, which can affect career growth temporarily and even lead to burnout
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Work-life balance- managing CA practice with law studies can be a really difficult task for many
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Different skill set- After studying with the finance-centric approach in CA for so long, it might be difficult to get used to thinking with a different approach that requires critical thinking, case analysis, etc
Can a CA in practice also practise as a lawyer?
No, a CA in practice cannot practice as a lawyer at the same time. In practice, you need to choose only one at a time; a CA either has to surrender the COP and practice law as a non-practicing CA, or she/he cannot be enrolled as an advocate
How Can One pursue an LLB after CA
- Check eligibility- Check with the universities if they accept CA as equivalent to a graduation or not, as it is a requirement for a 3-year LLB
- Pick a BCI-approved college-The degree must be from a BCI-recognized institution so that you can enroll as an advocate.
- Plan for full-time attendance- as distance learning is not an option because BCI does not recognize it for enrollment. So a CA can either take a break from practice or switch to a flexible job.
- Sit the entrance exam- admission is through university-level or state-level law entrance tests, so prepare in advance.
- Complete the degree-Attend classes, internships, and moot courts as the BCI requires.
- Enroll with a State Bar Council- Register with the Bar Council of your state.
- Clear the AIBE- To get your certificate of practice, you need to clear the All India Bar Examination
- Make your choice- if you want to practice law, you need to surrender your practicing CA status, or vice versa