A career as a company secretary is one of the top jobs in a private firm or public sector organisation. In the western regions of the world, a business secretary is usually referred to as a Corporate Lawyer or Corporate Secretary.
However, a company secretary does more than just manage legal issues. The job of a company secretary is to oversee legal decisions that affect the business and management of any company. Also, the duties demand a solid administration within the company, ensuring compliance and ensuring that all decisions taken by the Board of Directors are carried out thoroughly.
Here, we'll discuss the company secretary's salary in India.
Did You Know?
As per ICSI’s data, India has experienced more than 70% growth in student enrolment for the company secretary program in the last few years. ICSI also mentions that there are 22,000 CS either practising independently in the country or working as employees in large industrial houses.
The Importance of CS
1. The role of the company secretary includes advising the board of directors and sharing the required information to formulate policies and strategies.
2. A company secretary is an organiser because he registers share allocation, creates and distributes share certificates, and coordinates the preparation of various reports such as statutory reports, director's reports, and annual reports.
3. A CS also works as the company's agent, entering into contracts and performing certain representations on behalf of the business.
4. He is a coordinator who communicates with all of the company's stockholders.
Also Read: Chartered Accountant or CA Salary in India
Career Opportunities for a Qualified Business Secretary
- A certified business secretary can find employment opportunities within the private and non-public sectors, financial institutions, and banks.
- Company secretaries are also needed for boards of enterprise regulation and other government departments.
- The top companies offer attractive payment plans to their enterprise secretaries.
- Secretaries of companies can also start their own consulting business after obtaining the certification of practice.
- Businesses having a paid-up proportion between ₹10 lakhs to ₹2 crores are necessary to lease or hire the services of professional company secretaries to issue company compliance certificates for compliance with the law.
Company Secretary Salary In India
For those who are seeking the highest amount of a CS Salary, here’s a table mentioning the same:
Company Secretary Salary Package
₹ 2,47,142 – ₹ 1,374,138
₹ 10,022 – ₹ 390,555
₹ 12,671 – ₹ 690,428
₹ 248,933 – ₹ 1,442,945
The Benefits of Getting a Company Secretary Job
1. Professional Profile
Company Secretary is a formal course for professionals that brings you highly respectful jobs. Besides a strong professional profile, another considerable benefit is that the company secretary's salary in India is very attractive. After getting the certificate, you can get an employment opportunity at firms with an official designation. This degree is available alongside graduation and does not require a full-time commitment in the workplace like other degree programs.
2. No Stress
The Company Secretary is not worried about meeting the deadlines and requirements. The administrative tasks have to be accomplished, but there isn't any restriction on time. It's not at all that difficult, compared to other jobs where you feel a lot of stress, have health issues and are frustrated with the work. There are various websites dedicated to assisting the CS in completing their tasks with straightforward methods.
3. Paper Work
It is a false notion that a business secretary is a heavy user of paperwork and has to spend most of the time typing and preparing lengthy documents. However, the secretary only has to deal with hardware and software data stored in electronic format due to technological advancement. Thanks to responsive web design, the CS firms' job becomes simple.
4. No Age Limitation
There is no age limit for students to complete courses on Company secretary. So, it's possible to gain expertise at a very young age. Someone with good job skills, attitude, team player, and decision-making capabilities can apply for the chance to become an employee secretary. Still, you can get a great CS starting salary in India.
5. Better Job Satisfaction
Many people are not content in their work and are often unhappy about things like pay, profile, and development. Still, when they have a profile of the company secretary, all worries vanish away. They are in a more powerful post, which offers more opportunities to express opinions and thoughts.
The job offers many benefits, and satisfaction at work is just one of them. CS is promoted to a management position very early in their career. Also, they enjoy working in a positive workplace. However, don’t forget to improve your Communication Skills as it plays a vital role no matter in which business you opt for.
6. Flexible Timing
It can be difficult to manage life and work when you have other jobs. However, this isn't the case for a career in CS. The Company Secretary can work in the flexibility of hours. They can maintain a healthy balanced work and personal life since they don't have long working hours and pressure to complete the work before the deadline.
There is no need to work overtime unless there is a crucial issue concerning documents that must be filed quickly. In a real sense, they live life to the fullest and can manage their time between family and professional life equally.
7. Connection with Higher Authorities
They usually work with the higher authorities. This is a plus for its standing in the workplace, especially for employees. There is a lot to learn from senior officials since they have extensive industry knowledge. Because of their management involvement, the growth of their business is assured within the Company.
Also Read: What is the Average Salary in India?
How Do You Find a Job After Completing a CS Executive Course?
Whichever course you take, it is very difficult to find an appropriate job to begin your career if you don't complete it. A company secretary training course is a highly professional education course. It can be beneficial to employers only if you are a member of an organization like the Institute of Company Secretaries of India.
It is important to recognize that Company Secretaries are professionals with an identity. Certified Company Secretaries receive the membership number. At the Institute of Company Secretaries of India (ICSI), you can be appointed as the Key Managerial Personnel for a Company. You can even begin your own practice and be able to certify your work.
Semi-qualified Company Secretary, for example, who hasn't passed the professional examination but who has passed the executive exam, is not an official Company Secretary and is not qualified for whatever is mentioned above.
Even if someone is knowledgeable of the subject, why would a company employ someone who has no membership number from ICS? This means that a CS Executive person cannot legally certify the work performed by the Company.
A Company should choose an experienced Company Secretary with a solid understanding of the subject instead of paying for a semi-qualified Company Secretary. Several scenarios could lead to the right job. If you're willing to be a part of the agreement with your employer, it shouldn't be too difficult to secure employment.
However, some firms/LLP or CS companies offer positions for CS Executives who have experience. Sometimes, they offer decent salaries or remuneration too. The types of job openings are easily found on numerous job sites.
Some firms do employ people due to their expertise. However, they also expect certain employee concessions that may be difficult for the applicant.
- There's the possibility that a young employee is not able to pass the next test, for which the person could request to leave. This can affect the Company's daily work.
- The second reason is a small salary offer. People seeking jobs see this as a demeaning act and thus refuse the job offer.
Several scenarios could lead to the right job. If you're willing to be a part of the agreement with your employer, it shouldn't be too difficult to secure employment.
However, some firms/LLPs or CS companies offer positions for CS Executives who have experience. Sometimes, they offer decent salaries or remuneration too. The types of job openings are easily found on numerous job sites.
While the profession is commonly referred to as a company secretary, the function performed by a company secretary is not exactly that of a secretary or clerical. Simply put, the role of a company secretary is to act as an advisor to the directors' board to assist them in making firm and legally-correct administrative decisions.
The job of a company secretary involves ensuring that the director's board is updated about their legal obligations. A company secretary represents any company, both public and private.
If you struggle with tracking all your transaction details of the business, Khatabook is a great solution. It will provide you with the transaction history with easily downloadable reports, which will help you measure your company's profit/loss.