SALARY OF A CHARTERED ACCOUNTANT IN INDIA
Chartered Accountants or CAs are highly qualified professionals working in the Accounting and Auditing field mainly. CA course is famous for many a reasons. One such reason is its low cost and high return on investment. Compared to other professional courses in commerce field, CAs are offered good pay packages. The average salary of a CA initially is Rs. 8 – 10 Lakhs. The maximum salary initially is Rs. 30 Lakhs. If the offer is received from an international organization, it can go to as high as Rs. 75 Lakhs. CAs are very talented and have experience of various sectors. They can thus start their own business startup too. In such a case, there is no limit on earning. However, every coin has two sides and so, there can be huge losses too.
- STIPEND DURING PRACTICAL TRAINING – Before becoming a CA, one has to go through 3 years’ Practical Training. In this training, you get a handsome amount of stipend too. Average stipend is around Rs. 5,000 – 8,000 per month. If you are placed as an article in a Big 4 or Top 10 firms, you get a stipend of approx.. Rs. 10,000 – 15,000 per month. This increases by Rs. 2,500 – 5,000 annually (during these 3 years). In the last year of Practical Training, you get an option to go for Industrial Training. In Industrial Training, you get to work for a particular group of industries. The stipend in case of industrial training ranges between Rs. 40,000 – 70,000.
- TRUST AND EXPERIENCE IN PRIVATE PRACTICE – In case of private practice, experience can add a lot to your earnings. An instance can be taken in this regard. Suppose you give consultancy to someone for any Tax Savings matter which saves a cost of Rs. 100 Lakhs for that business, then you as an advisor, can ask for a 10% share in those profits, i.e., Rs. 10 Lakhs. Hence, it is a clear cut profit which you can earn but for establishing a practice and earning huge profits, you must build trust in your clients, which takes time.
- BENEFIT OF OTHER SKILLS – If you have some additional skills other than being a CA, your pay package increases. Financial Reporting and Financial Analysis helps in increasing the pay package above the average amount, as per a survey. Other skills which add a lot to the salary of CAs are Regulatory Compliance, Budgeting, Budget Management, Financial Modelling, etc.
- PUBLIC SECTOR UNITS (PSUs) – CAs also have an opportunity to work in Public Sector Units (PSUs). In PSUs, the most important factor is job security and a good work – life balance. The average salary remains almost the same in PSUs too.
- EXPERIENCE – CAs can either go for job or for private practice. In job, pay package certainly increases with an increase in the experience. However, if you are a talented CA even at a young age, then you will get the benefit and the aspect of experience will be cornered.
As per the recent data, the figures for average salary of a CA in India on different basis are as follows:
CA SALARY ON THE BASIS OF SKILLS:
| Skills | Avg. Salary p.a. |
| Budget management | 9.5-11 lakhs |
| Strategic accounts | 8.9- 9 lakhs |
| Evaluation and management auditing | 8.5-9 lakhs |
| Financial analysis | 8.5- 8.8 lakhs |
| Financial advisor | 8.5-8.75 lakhs |
| SAP financial accounting and controlling | 8.10-8.25 lakhs |
| Financial reporting | 8-8.2 lakhs |
| Auditing | 7- 7.5 lakhs |
| Account management | 7-7.25 lakhs |
| Internal audit | 7.25-7.35 lakhs |
| Accounting | 7.25-7.35 lakhs |
| Tax consulting | 7.10-7.25 lakhs |
| Tax compliance | 7-7.1 lakhs |
CA SALARY IN 2021 ON THE BASIS OF EXPERIENCE:
| Years of experience | CA Salary per annum (Avg) |
| 0-5 | 7 lakhs |
| 5-10 | 12 lakhs |
| 10-20 | 20 lakhs |
| Above 20 | 50-70 lakhs |
SALARY OF CA IN INDIA PER ANNUM ON THE BASIS OF JOB PROFILES:
| Jobs profile | CA Salary per annum (Avg) |
| Finance officer | 35 lakh |
| Account executive | 25 lakh |
| Accountant | 25 lakh |
| Finance controller | 19 lakh |
| Finance manager | 10 lakhs |
| Chartered accountant | 7.25 lakh |
| Financial analyst | 6 lakh |
| Assistant account manager | 5 lakh |
| Senior account executive | 4 lakh |
| Senior Accountant* | 3.5 lakh |
| Business analyst | 4 lakh |
| Account assistant | 2 lakh |
CA SALARY PER ANNUM ON THE BASIS OF THE LOCATION WHERE YOU RESIDE:
| City | CA Salary per annum (Avg) |
| Gurgaon | 9.5 lakh |
| Chennai | 8.50m |
| Mumbai | 7.5lakh |
| Delhi | 7 lakh |
| Guwahati | 6 20 lakh |
| Punjab | 6 lakh |
| Pune | 6 lakh |
| Ahmedabad | 6 lakh |
| Jaipur | 5 lakh |
HIGHEST SALARY OF CA IN INDIA 2021:
| Employer | CA Salary per annum (Avg) |
| Reliance Industries | Rs. 25-45 Lakhs (Highest) |
| Hindustan Unilever Ltd | Rs. 10-36 Lakhs |
| Deloitte | Rs. 14-35 Lakhs |
| KPMG | Rs. 14-32 Lakhs |
| Aditya Birla Sun Life | Rs. 13-28 Lakhs |
| ICICI Bank | Rs. 11-27 Lakhs |
| ITC | Rs. 10-25 Lakhs |
| TATA company | Rs. 10-22 Lakhs |
| Bharti Airtel | Rs. 12-22 Lakhs |
| SBI Bank | Rs. 6-17 Lakhs |
CA SALARY IN INDIA 2021 FROM OTHER SOURCES:
| For individual practice | Source of income for the individual practice | Source of income of CA employed |
| Fees | 80% | – |
| Commission | 15% | 5% |
| Bonus and incentive | 5% | 10% |
From the above data, it becomes clear that CA as a professional has higher salary in India as compared to other commerce professionals such as CS, CMA, etc. This makes CA a more reputed and common choice among the students wishing to become a professional in the Commerce field.
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