MyCIMA

Overqualified or Overpriced???

Replies : 2

How often have you browsed through jobsites and seen that there are thousands of vacant posts waiting to be filled??? All the time I guess. Why aren't these posts filled if there are graduates in the job market???

 Here is one of the reasons why!!!

 

 I have often heard CIMA students saying that they are scared that they will overqualified and unable to get employmwnt. Everyone is constantly looking for job opportunities. We all want the dream house, the dream car and for most men, women. All those things come at a price, and we want all those things in a short space of time. Most graduates tend to think that the world owes them a pot of gold.

 

 Most students are misinformed about the compensation they should receive and go out in the Job market demanding large salaries. This makes employers reluctant to employ them or to offer them a reduced salary because employees who feel exploited tend to have low morale which tends to have a huge effect on their performance. Not all industries are regulated, so companies would rather employ someone without any qualification and pay them a fraction of what a qualified person demands. 

 

People who earn outrageous salaries have already proved their worth through acquired experience. Hence they say, ’there’s no substitute for experience. Always bear in mind that an Academic qualification without any work experience only shows your potential. The only job where you start at the top is when digging a hole. 

A CIMA Student once said, having any sort of Academic qualification is like having a driver’s license! Some drivers have their licenses but that doesn’t mean they know how to drive. (We all know someone like that, and if you don’t, it’s probably you). So letting someone like that drive you would be taking a huge risk, and if you were to pay them, you would probably pay them less until they prove themselves. 

 

CAs earn high salaries but people tend to forget that they had to go through their articles(Practical Experience Requirements) for 3 years only getting a fraction of their eventual salaries, until they prove themselves. 

 

The trick is to get into the Job market regardless of the price; because it’s easier to move around than getting in. Your qualification can only work for you if you use it wisely. Remember there will always be someone willing to employ you if they feel that the price they are paying for you is just. 

 

Hence there’s no such thing as overqualified, rather overpriced!!!

Overqualified or Overpriced

 Hi Nyiko,

 100% agree with you. Even I, at the very begining of my job life, thought that being CIMA qualified may fullfill me in relate my job work. But I realised what you have explained by my own experience. Being professionally qualified is same as having driving licence. We need to gather more and more work experience to make us a full qualified accountant. Getting into job market is most important.  Our first priority should be on getting good experience rather charging higher prices for what we offered. I think this will be helpful for new job seekers.

Regards,

Subhani 

Hi Subhani

Hi Subhani

 

I had those expectations too when i was searching for my first job. Now that I have got that out of the way, I find it easier moving from 1 company to another. One thing we must all understand is that an Academic qualification doesn't teach you how to do the job, it often gives you an understanding of your industry/field, so your employer would likely have to show you the ropes!!!

 

I would say,'Expectation without experience'...as we all know, from a risk management point of view, it is riskier to hire a graduate! So companies often see it this way...If they take a huge risk by hiring you, then obviously they would want to pay less...

 

Only when you have proven yourself that they will be willing to invest in you!!!