One of the most common questions in the back of every mind of CA Student is how much is the Salary of a Chartered Accountant in India? No, doubts that the CA in India earns good perks of Money, but to earn that much money it requires a lot of dedication and hard work to clear all the Examination of Chartered Accountant in India. There are a lot of factors that differentiate the Salary of CA in India in 2020. The ongoing demand and growth of the finance sector in India lead to an increase in the growing demand in the jobs of Chartered Accountants in India.
The Average Salary of Chartered Accountant in India starts from 6-7 Lakh rupees a per annum and can goes up to 40 Lakhs. Most of the highest packages in India are paid by the Big 4 companies along with the companies that are operating in the manufacturing segment. On to the other side if we talked about the Salary of Chartered Accountant Outside India then the per annum packages range around 76 Lakh rupees per annum. Below are some basic factors that will help you to analyze that how much does a Chartered Accountant Earns in India?
How to Get A High Chartered Accountant (CA) Salary in India
Get Rank in the CA Exams
If you get a rank in the CA Examination, then chances of getting high packages will automatically be increased. That means after holding a rank in CA Exams if you are picked up by a top company then you can easily get package up to 20-25 lacs p.a. However, if you have other skills besides holding a rank then chances of increments are their in your salary.
Knowledge is the key to any lock. If your concepts are clear, you have a command on your subjects then obviously, your chances of getting select with the higher packages are always high. High packages do not mean that your initial salary as a fresher is high. But if you get a job with some MNC’s or top firms then your chances to grow in a few years become easier.
Less Number of Attempts
Yes, friends, this is true. The number of attempts matters in getting a wonderful job unless you don’t have a superb reference. You will get shortlisted for big firms like KPMG, Deloitte, EY, PWC or other Top CA Firms only if you are passed out in hardly two or three attempts. You will get a chance to prove yourself in the interview only if get shortlisted first. But PSU’s shortlist the candidates even after the number of attempts. So, if you want to work with BIG 4 or other Top CA Firms then try to get clear your CA Final in the very first attempt. It will also increase your package.
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High Marks in your Final Examination
Marks obtained at your every level matters but how far most considerable marks in getting a good job with a higher package are which you obtained in CA Final. Because you would not be able to clear CA Final unless your concepts are clear. It is an advanced level of CA Foundation (CPT) and CA Intermediate (IPCC)and CA Final whatever you have learned in CPT, IPCC or Practical Training helps you in clearing Final. And as I already told you that PSU’s select the candidates even after the number of attempts, so selection and package will be on the basis of marks you obtained even after a number of attempts.
Good Communication Skills
Yep!! Good Communication Skills helps in influencing the interviewer. It boots up your impression in the interview. So, basically, once you are shortlisted, your way of presenting yourself through your excellent communication skills helps in attaining a good salary package in India.
Good Practical Training Experience
Many of the students go for dummy Articleship to clear their CA Final in the very first attempt. But what they lack in doing this, is the experience which they could have gained from the practical training. If you think that your concepts are clear and you can easily crack the interview then let me warn you, friends, that interviewer in front of you will be an experienced guy. Not more than 10 minutes he will need to judge your practical training experience. You can be shortlisted for the interview on the basis of your marks you obtained but then… In the interview, your experience will speak. Students can also enroll themselves for the Articleship training in some of the big CA firms in India and can get paid stipend of Rs 20,000 around. These companies also pay the highest salary to their employees also.
Types of the Profile
The salary differs on the type of profile. Whether you are appointed for Finance, Audit Deptt, Direct, and Indirect Tax Consultants, Banks, etc. Average salary packages are
- Audit Firms – In this area your salary varies from 4-7 lacs.
- Finance and Accounts profile – Here salary fluctuations are generally high. Range from 5-10 lacs.
- Internal Auditor – If you are appointed an Internal Auditor in a company then salary ranges from 6 – 8 lacs.
- Banks – Appointed by some banks like HDFC, ICICI etc then salary ranges from 5 – 6.5 lacs.
The area or the city where you want to do the job matters. In the developed and metro cities you can easily get an average salary of 7 – 10 lacs like Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Gurgaon. But in other cities, it is bit difficult task.
These are some of the basic factors which have a major impact on your salary packages. Now let’s move ahead towards the top Firms which hired the maximum number of Freshers.
Chartered Accountants (CA) Salaries in Big Companies in India
BIG 4 (EY/Delloite/PWC/KPMG)
No doubt, BIG 4 is one of the leading firms in India which hires maximum CA freshers after every attempt. You will get good exposure to working with these firms. Salary and other initiatives are also very high. Although it is a dream of every student pursuing CA to work with BIG 4. Salary offered by CA Firms in the BIG 4 differs on the basis of Job Profile. Most of the CA Freshers are hired in the Audit Section. It handles a large amount of CA work from all over India. On an average basis fresher working in a BIG 4 CA Firms are paid around 12 Lakhs p.a to whopping 25 Lakhs p.a. The salaries decided by the companies are varies from different factors.
As we have already discussed that PSU shortlist the candidates even after number of attempts but the criteria of their shortlisting is marks. Some PSU’s like ONGC, HPCL, BSNL etc. They offer a high salary package comparison to CA Firms. Their range generally fluctuates from 6-15 lacs. The base for your selection after getting shortlisted will always depend on your performance in your interview.
Companies like Infosys, Wipro, Microsoft etc recruit a number of CA candidates. They have a complete full-fledged audit team. The salary of CA IT Companies generally varies from 7 – 10 lacs rupees p.a.
These are most preferable concerns with which a fresher CA is advisable to start the career. Maybe you don’t start with a dream package in these companies but your growth and exposure are unlimited. Manufacturing Companies like TCS, MRF, Vedanta etc hires fresher CA’s on an average salary of 7 – 11 lacs p.a.
Banks heirs a number of CA candidates. They have various job profiles for the fresher Chartered Accountant. Banks like ICICI, HDFC etc generally offer a salary ranging from 5-10 lacs.
Indian CA Firms
Many of the Indian CA firms recruit CA candidates to handle their office works. They also get the benefit of appointing Chartered Accountants as there number of audits increases by recruiting the number of CA’s. Top CA Firms in India are Haribhakti & Co., Singhi & Co., Chaturvedi & Shah etc.
These companies hire the Chartered Accountants for their international branches. The salary packages listen to be very high but the actual cash in hand is comparatively low. In 2016 campus placement the Ashutosh Agarwal was offered the highest package of 76 lacs in Olam International but the base salary is comparatively very low.
Chartered Accountant (CA) Salary in India 2020
CA Salary in India on the Basis of Skills 2020
If Chartered Accountant possesses skills like Auditing, Budget Management, Strategic Management, Financial Analysis, and Controlling, etc. They are paid according to their Skills. Here is the table showing CA Salary according to their Skills.
|CA Skills||Avg.Salary p.a.|
|Budget management||10 Lakhs|
|Strategic accounts||9 Lakhs|
|Evaluation and management auditing||8.5 Lakhs|
|Financial analysis||8.5 Lakhs|
|Financial advisor||8.5 Lakhs|
|SAP financial accounting and controlling||8.5 Lakhs|
|Financial reporting||8-.5 Lakhs|
|Account management||7.5 Lakhs|
|Internal audit||7 Lakhs|
|Tax consulting||7 Lakhs|
|Tax compliance||7 Lakhs|
CA Salary in India on the Basis of Experience-CA Salary 2020.
When Chartered Accountants are appointed, along with relevant skills Companies also see CA’s experience, in which company they have worked before, in which field he/she has experience. Under-mentioned is the Annual CA Salary in India on the basis of experience.
|Years of experience||Avg. CA Salary per annum|
|0-5 years||6-9 lakhs|
|5-10 years||12-15 lakhs|
|10-20 years||20-22 lakhs|
|Above 20 years||60-70 lakhs|
Salary of Chartered Accountant in India on the Basis of Job Profile- CA Salary in India.
There are various post in the country which needs a Chartered Accountant more than the knowledge of Accounts and Taxes. Various people with a good education profile in the country apply for the higher position of the Job. The Job profile of CFO, Account Executive, Finance Controller, and Finance Manager enjoy good salaries with the packages of Rs. 20 Lakhs per annum. Below is the list of Annual Salary of Chartered Accountants in India on the Basis of Job Profile 2020.
|Jobs profile||CA Salary per annum (Avg)|
|Account executive||20 Lakhs|
|Finance controller||14-16 Lakhs|
|Finance Manager||10-12 Lakhs|
|Financial analyst||06-07 Lakhs|
|Assistant Account Manager||05 Lakhs|
|Senior Account Executive||04 Lakhs|
|Business Analyst||4-7 Lakhs|
|Account Assistant||3-5 Lakhs|
Salary of Chartered Accountant in India on the Basis of City an Employee is Working.
It is always said the city in which you are working on decides the pay scale. Every company pays salaries to its employees depending on the pay scale of a particular city. Following are these criteria, it is obvious that the big and developed cities in India pay good perks since the living standard in developed and metropolitan cities is higher. In India cities like Banglore, Gurgoan, Bombay, Kolkata pay the highest salary to Chartered Accountants in India. On average in a developed city the monthly salary of Chartered Accountant can go up to 1 Lakhs per annum to 1.5 Lakhs.
|CA Salary in India on the basis of City||Average P.A Package of CA in India|
Highest Paying Companies to CA in India- CA Salary in India
India is also started getting recognization of some of the best companies. To handle the large accounts and auditing of these companies a good number of the financial managers and Chartered Accountants are required. Some of the people still thought that only the BIG 4 firm pay a good paycheck to their employees but it not true. Below are some of the highest payers employers to Chartered Accountants in India. Working with these companies is the dream of a lot of people, employees get the opportunity to explore themselves to the best possible Possible level.
|Highest Paying Companies||Average Salary of CA ( Per Annum )|
|Reliance Industries||Rs. 25 Lakhs|
|Deloitte||Rs. 15-36 Lakhs|
|Hindustan Unilever Ltd||Rs. 16-30 Lakhs|
|KPMG||Rs. 13-32 Lakhs|
|Aditya Birla Sun Life||Rs. 13-25 Lakhs|
|ICICI Bank||Rs. 12-27 Lakhs|
|ITC||Rs. 14-25 Lakhs|
|TATA Company||Rs. 14-22 Lakhs|
|Bharti Airtel||Rs. 11-22 Lakhs|
|SBI Bank||Rs. 7-17 Lakhs|
Now, let’s talk about practicing CA’s. Friends, there is always a limitation to grow when you are doing a job but starting your own practice gives you unlimited exposure and growth. This gives you an opportunity to prove yourself. However, the beginning is always tough in practice but the journey is always beautiful. Lots of challenges came across in your path and you should be ready to face them. This is a true test of your knowledge, INTELLIGENCE, hard work, management, etc. But there is always a risk of failure. In service, you get a fixed remuneration and incentives on the basis of your hard work but in practice, you will earn not only with the work performed but also with the number of clients you have and the level of satisfaction you can provide them.These are the generally seen companies that recruit a number of CA fresher’s from the campus placement.
Besides this practicing is not easy, this needs investment at the initial level. Setting your office, payment for the infrastructure is a tough job. And finding clients is the most typical job.
Generally, the Chartered Accountants who want to start their own practice, they have two options. They either join their family practice, if somebody is pursuing practice in their family like parents, siblings, spouse, etc. or go for job like 4 – 5 years gather the funds to invest and also find a number of clients, gain experience during this period and after this period they start their own practice which will take around 2 years to set up.
If you don’t build your dreams then someone else will hire you to help them build them.
If you have the ability to do something then start your own practice before someone recruits you to work for them. It will test your true intelligence or you don’t want to take such a risk or want a fixed monthly payment then go for a service.