Chartered Accountant or CA Salary in India

One of India's most financially rewarding professions is that of a chartered accountant. The salary of CA in India can vary from ₹2-3 lakhs for a fresher to ₹75 lakhs and more for an experienced individual. The only investment in such a career is the dedication toward the subject matter during the academic years. It is sheer hard work and you have to burn the midnight oil at times but once you get through it, there is no looking back. A chartered accountant’s job is a highly respected one and while some venture out on their own, others land jobs with reputed brands. Every organisation needs a chartered accountant to monitor expenditures, overheads, contingency expenses and other revenue outflows and monetary inflows. In addition to being good at number-crunching, one has to be well-versed in subjects like Taxation, Commerce, Accountancy, Law, Economics, and Business studies. Many individuals get through the finals on their 3rd attempt. Such persistence proves the inherent desire to strive hard for the handsome pay packages ahead.

Did you know? 

That Kumar Mangalam Birla is among India's top 3 richest chartered accountants.

Understanding CA Salary in India

All chartered accountants have specialised skills in finance and business. Some of the departments related to these two areas of specialisation include auditing, financial management, taxation, and general management. Unlike other professions, the Institute of Chartered Accountants of India regulates this profession, better known as ICAI. Its regulations include monitoring the ethics act, the various standards of accounting as well as the rules of this profession. The salary of a CA in India depends on the choice of job the individual chooses. Several individuals in this profession prefer a typical 9-5 or slightly extended working hours as the profession is very demanding. Such individuals prefer working in the public sector. Others are willing to put in more hours of work and prefer the attractive pay packages of multinational corporates. There are still others who prefer to work in government organisations. Government firms offer less attractive pay packages but are rich in other benefits for chartered accountants.

Also Read: What is the Salary of a Chartered Financial Analyst (CFA) in India

Salary Packages of Chartered Accountants in India

Given below are the various pay packages of Chartered Accountants at various stages of their profession:

The Institute of Chartered Accountants of India (ICAI) organises campus placement activities every year. It serves as a great opportunity for chartered accountants seeking opportunities to work abroad. Those lucky enough to get a good break on foreign soil can earn much more than their Indian counterparts.

Chartered Accountant Salary in India

India is dominated by four key players in the auditing space. These are Ernst & Young (EY), Price Waterhouse Coopers (PWC), Deloitte, and Klynveld Peat Marwick Goerdeler (KPMG). For most chartered accountants, landing a job in any of these serves as a platform to enhance their skills, acquire more knowledge, stability, decent starting salary, and better opportunities. These four auditing giants offer annual salaries between ₹6-8 lakhs.

Chartered accountants with a professional experience of about 4-5 years can obtain an annual pay package of about ₹23 lakhs. Several professionals who get lucky with an opportunity to work for any of these auditing companies stick around for more than five years because their pay packages become highly attractive after that.

Chartered Accountant Salaries in Different Sectors

FMCG Companies

Many chartered accountants try their luck for a job at various FMCG enterprises. You have to be adept in your subject matter to set foot in any of these companies. Some of the leading brands in this space are Marico, Hindustan Unilever, Reckitt Benckiser, and Procter & Gamble, amongst others. These organisations have a voluminous business on a domestic and international platform and always require exceptionally skilled professionals, especially in finance and accounting. They offer handsome pay packages that range from ₹18 to 25 lakhs. In addition to attractive salary packages, the additional benefits include free commuting between office and home, a leased vehicle, housing, life insurance and health.

Public Sector Companies

Public sector companies like Oil and Natural Gas Corporation (ONGC), Steel Authority of India (SAIL), Coal India Ltd (CIL), National Thermal Power Corporation (NTPC), and Bharat Heavy Electrical Ltd. (BHEL) are in constant need of chartered accounts to manage their finance division. ICAI helps many qualified CAs with an opportunity to work with these esteemed public sector firms. However, to set foot in any of these, you need to have been listed among the first 50 to have cleared the exam. You need to have achieved anywhere between 50%-60% in your final exams of chartered accountancy and you need to have passed the same within two attempts and not beyond that. These public sector firms offer anywhere between ₹8-20 lakhs which again is dependent on the individual’s proficiency and aptitude. The work hours are fixed and the person also gets to enjoy many holidays. However, these jobs involve being transferred to other cities.

Information Technology (IT) Organisations

IT organisations tend to pay freshers a salary between ₹8-10 lakhs. Chartered accountants with considerable experience can draw a pay package between ₹40-60 lakhs.

Also Read: Professions that Offer the Highest Salary Jobs in India

Chartered Accountancy Firms

Chartered accountancy firms offer freshers a pay package between ₹3-8 lakhs. Many freshers join such companies, enhance their skills to the hilt, and set up their practice. You can build your network during your work tenure with such firms and then try to manage their business on an individual basis. Once a company is convinced of your skills, you can increase your fees as per market standards. You can then appoint freshers to assist you.

Conclusion

This article furnishes you with the various pay packages that chartered accountants can draw depending on their experience and skills. There is no shortage of good salaries from freshers to qualified professionals in India and abroad. The profession is a very demanding one at times but is also very lucrative. The hours may be long at times but most times, your skills will help you tide over the most challenging situations.

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