Salary of a CA in India depends on his/her skills, capabilities, and knowledge. The typical salary of Chartered Accountants in India ranges from 6-7 lakhs to 30 lakhs. Internationally packages are much better ranging up to 75 lakhs. Stats from previous year show that the average salary of Chartered Accountants in India was around 7.36 lakhs p.a. within the campus placement conducted by Institute of Chartered Accountants of India (ICAI).
Candidates who topped in the exams and Single attempt passed students get prioritized over the multiple attempts passed students. However, there are many candidates who start their own practice after taking job experience of 2-3 years from a reputed CA Firms. If a candidate is well capable to try to do so then there’s no upper limit for his/her growth. Although, many such small firms are often closed down in a short time due to high competition.
In this article, we will talk about the average salary of a Chartered Accountant in India, which will give you a fair idea about what you can expect.
As you become a CA, the opportunities to work in different areas are wide open. We will look into Industry Wise CA Salary in India.
1. The Big Four
Big Four itself defines four biggest firm network in it consists of E&Y, PWC, Deloitte, and KPMG. Most of the CA students dream to undergone their 3 years articleship from any of the firms in Big 4 and after becoming CA they try to find a job in them. You’ll definitely be happy to know that these four firms try to hire a large number of fresh CAs in every attempt. However, working with these firms isn’t as easy as getting hired.
The Work pressure in these companies frustrate Chartered Accountants and it results in leaving their job in a very short time. But if you’re keen on learning, and need to explore the maximum amount knowledge and knowledge as you’ll then this is often the simplest platform for you where you’ll learn. Mean Salary offered by these firms varies from 6-8 lakhs for fresher CAs. After some years of experience CA salary will become 25 lakhs to a CA as per his capability and skills which is generally offered by these firms.
2. CA Firms
Candidates wishing to start out their own practice after some years of experience join CA Firm which provides them with great exposure. Here, a fresher CA usually learns to deal with clients and tax officers. The experience you will get from working here is much more then what you were getting in an articleship. The salary offered by Accountancy Firms usually ranges between 3-8 lacs.
3. IT Industry
IT Companies like TCS, Wipro, Infosys are best for the people that don’t want to take on additional workload. Here candidates enjoy a decent job with a handsome package and less workload. However, being a CA it’s often not preferred by candidates as knowledge and exposure you get here is limited
4. Public Sector Undertakings
PSUs like BSNL, BHEL, ONGC, GAIL prefer to hire fresher CAs from the campus placement by ICAI. These companies often shortlist the candidates on the grounds of their marks starting from 55% to 60%. Candidates who have passed with two or more attempt in CA Final generally get selected by Public Sector Undertakings. The salary offered by such companies ranges from 7 to 15 Lacs. Although annual increment is quite limited but still a decent option.
To get shortlisted with such companies you need to be in the top 50 students because these companies are perfect for any fresher CA. They select only ranked students and jobs offered by them are like a dream come true. Salary offered often ranges between Rs 18-28 Lacs.
The above-given details are simply an approximate idea of how top companies in the market hire fresher Chartered Accountants. Getting good marks with minimum attempts are just stepping stones to getting a good job, rest depends on your capabilities.
Sometimes your attempts might pull you back initially from getting your dream job but your diligence and smartness can take you anywhere you want. Many of the Candidates with 2-3 attempts in CA Final started small by working in small Accountancy firms for 4 to 5 years with starting package of 6-8 lakhs and then go on to work for the big companies earning a mean salary of 24-25 Lakhs a year. Although there are also many CAs who don’t prefer working in big companies due to the insane amount of work pressure.
Hence, it’s been concluded that the total number of attempts matters in getting a great job but this is often not everything. After getting shortlisted by a corporation, the later step is to prove yourself on the basis of the interview and your work. So, it is always better to give your 100% and take on the opportunities that come your way.