Average Chartered Accountant (CA) Salary in India: Eligibility, Job Roles, Salary & more
Updated on Apr 06, 2023 | 10 min read | 7.5k views
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Updated on Apr 06, 2023 | 10 min read | 7.5k views
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Considering the attractive salaries and reputation offered under its umbrella, the role of a Chartered Accountant is highly coveted by young aspirants. If you are someone enthusiastic about numbers and have excellent analytical abilities, this can be just the right career for you!
With over 1 lakh aspirants joining ICAI every year in hopes of achieving their dream career, CA’s prominence among Indians is hard to beat. The first step in starting a career in this field is learning more about this profession.
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Continue reading to learn more about the role of a Chartered Accountant and the average Chartered Accountant salary in India.
A Chartered Accountant is a professional authorised to provide a wide range of financial services to individuals and businesses. These services include accounting, auditing, taxation, financial planning, and business consulting.
A Chartered Accountant is present in all business areas, finance, and the stock market. Their work mostly focuses on working on a company’s finances, evaluating the financial statistics, handling the paperwork, and developing the business in terms of its economic security.
They are involved in processing the company’s returns and handling taxation in addition to being in charge of the business’s overall management to ensure it is running effectively. The role of certified accountants also entails dealing with money, including budgeting and the paperwork that goes along with it. Here are a few responsibilities a CA is responsible for-
CA or Chartered Accountancy is a prestigious and highly demanding profession in India. It is a highly specialised area that requires a hard course of education, training, and testing. The high pay results from the great demand for qualified CAs in India and the complexity of their work.
Some of the reasons why Chartered Accountant salary is high in India are:
The job roles of the Chartered Accountant and the organisation that hires them will determine their salary in India. Although Chartered Accountants earn comfortably working for the government, they can usually make more money working for an MNC.
A Chartered Accountant (CA) is qualified to do a variety of jobs, including those in accounting, taxes, auditing, cost accounting and other areas. Here is an explanation of some of a CA’s functions and duties:
An Average Chartered Accountant Salary in India:
The average annual income for Chartered Accountants in India is INR 6.2 lakhs, with salaries in the range of INR 2.0 Lakhs to 14.5 Lakhs.
Chartered Accountants having experience between 1 to 9 years can earn salaries in India ranging from INR 2 lakhs to 14.5 lakhs, with an average yearly pay of INR 6.2 lakhs. As the experience increases, one can look out for higher packages.
Chartered Accountant is increasingly needed for diverse roles across the country, more than just accounting and tax expertise. Many people in the nation with strong educational backgrounds apply for higher positions of the job. The CFO, Account Executive, Finance Controller, and Finance Manager roles all receive competitive pay packages annually.
Listed below are the salary per year for some job roles are:
The employing firms place a great deal of weight on a CA’s years of experience. The payment is usually determined by the number of years, the type of job performed during those years, and the companies for which they have worked. In India, the starting salary for a Chartered Accountant is between INR 1.0 lakh and INR 12.0 lakhs, with an average annual compensation of INR 5.4 lakhs.
The average of an Entry Level CA Fresher salary is INR 5.7 lakhs per year with fewer than three years of experience. The average income for a Chartered Accountant with 4 to 9 years of experience is INR 5.9 lakhs. In contrast, the average compensation for an experienced Chartered Accountant with 10 to 20 years of experience is INR 7 lakhs.
It is a common belief that your pay depends on your work location. Every firm pays its workers a salary based on the pay range in a specific location. Considering these criteria, it is apparent that India’s large, developed cities offer good benefits due to the higher living standards in these areas. India’s top cities for paying Chartered Accountants are Bangalore, Gurgaon, Bombay and Kolkata.
For instance, Mumbai pays INR 6.3 Lakhs per year, Kolkata pays INR 5.3 Lakhs annually, and New Delhi pays INR 4.9 Lakhs per year.
If a Chartered Accountant is skilled in specific areas such as auditing, budget management, strategic management, financial analysis, and controlling, they can surely earn a higher Chartered Accountant salary per month.
The salary of a Chartered Accountant can vary widely depending on the country in which they are employed. Here are some approximate salary ranges for CAs in a few different countries:
It’s critical to remember that these are rough salary estimates and that the real pay for a CA in any country can vary depending on a wide range of factors.
As India’s finance market is estimating an annual growth rate of 5.96% for CAGR 2022-2027, the future of chartered accountancy shows massive potential. The industry is continually changing and adjusting to satisfy the demands of clients and organisations while keeping pace with the new taxation and budgeting laws. The best way to stay on track for organisations is to deploy a skilled Chartered Accountant.
There are high chances that future Chartered Accountants will resemble business consultants more. They will offer suggestions on tactical financial planning and business expansion. They will also be involved in financial management, taxation and auditing. The Chartered Accountant’s responsibility will be to provide guidance and assistance to businesses of all sizes as the business environment becomes more complicated.
Over the span of 6 years, India has observed a whopping 15,400% growth in its entrepreneurial endeavours, which has further cemented the demand for professional financial entities like CA to obtain even better opportunities.
As companies move towards becoming more complex, this growth is bound to fuel in the upcoming year!
The best job opportunities in the field may be yours if you prepare for a CA interview. All you need to do is, before going to the interview, extensively research the business. Find out about the company’s past, present and core beliefs. You can better prepare if you are aware of the company’s expectations.
Further enhance your preparation for typical interview questions by practising them, such as “Tell me about yourself”, “Why do you want to work for us?” and “What are your limitations and strengths?” To gain confidence, practise your responses with close friends or family.
Also, working on your technical skills, such as auditing, accounting, and financial analysis, is important. Try to understand these abilities and be prepared to describe how you have used them in prior employment situations.
Lastly, be abreast of the most recent trends and advancements in the finance sector. This can assist you in responding to inquiries about modifications to tax laws, regulations and financial reporting standards.
For your best interview impression, be confident in your abilities and express a willingness to learn and grow within the organisation.
Chartered Accountants handle all of a company’s financial reports. They analyse these data and total up the business earnings so that everyone involved is updated on precisely how much money is being spent and where.
Based on Chartered Accountants’ findings, management may decide how to adjust spending to increase productivity and revenue. Due to its high demand, complexity, required skill sets, and reputation, a CA salary is quite high in India.
If you’re interested in developing your skills before applying for the CA examinations, upGrad’s MBA with Specialisation by Liverpool Business School can be a great option to fuel your skills! By taking this course, you can easily build your finance skills in just 18 months.
Apply now and secure a high Chartered Accountant salary per month!
You can also check out our free courses offered by upGrad in Management, Data Science, Machine Learning, Digital Marketing, and Technology. All of these courses have top-notch learning resources, weekly live lectures, industry assignments, and a certificate of course completion – all free of cost!
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