The average salary of a Chartered Accountant in India is generally 50,000 to 75,000 per month i.e.between 6 – 9 lacs which are mainly paid by BIG 4, Software companies and manufacturing companies. However, this range varies from 3 lacs to 76 lacs depending on the various factors. We are giving some of the factors which are the basis of your salary –
How to Get A High Chartered Accountant Salary in India
Get Rank in the CA Exams
If you get a rank in the CA Exams, 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 20-25 lacs p.a. However, if you have other skills besides holding a rank then you can get upto 80 lacs p.a.
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 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 the big firms like KPMG, Deloitte, EY, PWC or other top CA Firms only if you are a 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.
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). 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 marvelous package.
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.
Types of the Profile
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 – 8 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 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 a good exposure 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 Fresher are hired in the Audit Section. It handles a large amount of CA work from all over India.
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 ranges for a CA in these companies generally varies from 7 – 10 lacs.
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. Companies like TCS, MRF, Vedanta etc heirs fresher CA’s on an average salary of 7 – 11 lacs.
Banks heirs a number of CA candidates. They have a various job profile 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 audit 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.
These are the generally seen companies which recruit a number of CA fresher’s from the campus placement.
Now, let’s talk about the practicing CA’s. Friends, there is always a limitation to grow when you are doing a job but starting your own practice gives you an 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.
Beside this practicing is not easy, this needs an 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 their.
If you have an ability to do something then start your own practice before someone recruit 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.