CA Salary in India | Chartered Accountant Salary in India

CA Salary In India

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In India, a Chartered Accountant (CA) is held in high regard and commands considerable respect. CAs can either work in independent practice or find employment in various companies. However, what makes the profession even more alluring is the attractive Chartered Accountant salary offered in the country.

If you possess a  CA foundational understanding of Commerce along with a penchant for mathematics and a good grasp of subjects like Accountancy, Economics, Taxation, Law, and Business Studies, you are well-positioned to pursue a successful career as a Chartered Accountant. Surprisingly, some students who initially pursued different academic streams have even made the shift to become Chartered Accountants, enticed by the significant demand for CAs in India, which leads to salaries amounting to lakhs.

Upon successfully clearing the CA-Finals and acquiring the essential skills, capabilities, and experience, one can expect to earn an impressive monthly CA salary in India.

Table of Content

What is CA?

Chartered Accountant is also known as CA. It is a type of professional title awarded to people who have completed required courses, on-the-job training, and testing in accounting, finance, taxation, auditing, and related fields in accordance with established standards. Chartered Accountants are in high demand today in many fields like financial reporting, taxation, auditing, and advisory services.

They are highly respected expert titles awarded for their knowledge of financial issues, business consulting, and providing strategic financial advice to businesses and individuals. The name “Chartered Accountant” is an honorific title in many countries including India.

Roles or responsibilities of CA

Some of the core responsibilities associated with being a Chartered Accountant (CA) are outlined below:

  • Ensuring compliance with financial regulations governing company and organizational activities at the local, state, and federal levels.
  • Generating reports based on financial data, compiling and analyzing existing information.
  • Preparing periodic reports such as balance sheets, profit & loss statements, and other financial statements.
  • Maintaining accurate and error-free financial records and documentation.
  • Conducting audits and resolving any discrepancies that may arise.
  • Staying up-to-date with current laws and regulations pertaining to finance and accounting.
  • Providing advice and support to management during various organizational decision-making processes, offering financial insights, and preparing budgets.
  • Compiling and organizing data for presentations to key stakeholders, including managers and potential investors.

Chartered Accountant Salary In India

The salary of a Chartered Accountant in India relies on their specific job role and the organization they join. If you find employment in the public sector, you can enjoy the advantage of fixed working hours and lower stress levels. However, if you choose to work as a CA in a multinational corporation, your earning potential can be higher. While government companies might not offer extravagant salaries, they compensate by providing excellent benefits for Chartered Accountants.

CA Salary In India For Freshers

The initial remuneration of a Chartered Accountant (CA) depends on various elements like the employer, location, job position, and market demand. For fresh CA graduates in India, the starting salary typically varies from Rs. 5 lakhs to Rs. 10 lakhs per annum.

Nonetheless, individuals who may have attempted the CA exams multiple times could begin with a salary of around 4-5 lakhs. Nevertheless, with dedication and accumulated experience, they have the potential to secure a more attractive salary over time.

CA Starting salary in India

The remuneration of a CA is influenced by several factors, such as the CA Finals rank or the number of attempts made to clear the exams, job responsibilities, articles experience, and the employing company. Among the highest-paying employers for CAs are typically the big four multinational corporations.

Freshly qualified CAs who pass the exams on their initial attempt can command higher salaries, ranging from INR 12 to 13 lakhs per annum. Moreover, for the top-performing CA graduates in India, the annual salary can reach an impressive INR 15 to 20 lakhs.

  • Students who passed the CA final in two or three tries – 8 to 10 Lac
  • Students who successfully passed CA Final on their first try – 12  to 13 lac
  • CA Final winners – 15 to 20 lac 

CA salary in India- Expertise wise

For your reference, the table below shows the typical CA salary based on experience.

Experience              Package           

  • 0-5 years             7 L
  • 5-10 years             12 L
  • 10-15 years           20 L
  • 15-20 years           24 L
  • 20 years & above 37 L & above

Chartered Accountant in India – Company wise

  • Big Four accounting firms: Top accounting firms known as the Big Four, including Deloitte, PwC, EY, and KPMG, offer fresh CA graduates an average salary of INR 6-8 lakhs per year. However, as a CA gains experience and expertise, these firms can offer salaries of up to INR 25 lakhs per year, depending on the individual’s capabilities and skills.
  • Investment banks: Prominent investment banks such as Goldman Sachs, Morgan Stanley, JP Morgan, and Deutsche Bank also provide competitive CA salaries in India. For instance, JP Morgan offers CA salaries ranging from 8 to 24 lakhs per year, with an average annual salary of 11.4 lakhs.
  • Companies in the FMCG sector: Companies in the FMCG sector, such as Hindustan Unilever, Procter & Gamble, Nestle, and PepsiCo, offer starting CA salaries ranging from 18 to 25 lakhs per year. However, these companies typically hire only rank holders, so securing a good All India Rank (AIR) is crucial. Besides an attractive Chartered Accountant salary, these companies provide additional perks and financial benefits, including free transportation, a leased car, housing facilities, insurance, and more.
  • In the technology sector, companies like Google, Amazon, Microsoft, and Apple offer fresh CA graduates salaries ranging from INR 8 to 10 lakhs per year. With experience, CA salaries can increase significantly, reaching around INR 50 lakhs per year.

CA salary in india – Different cities

The following table presents the average CA salary based on different cities:

City                    Average CA Salary

  • Mumbai             –          11 Lac
  • Delhi                   –          9 Lac
  • Bangalore          –          9.5 Lac
  • Chennai             –         8.5 Lac
  • Kolkata               –           7 Lac
  • Hyderabad         –           6 Lac
  • Pune                   –           6.5 Lac

Please note that the exact figures for each city may vary and should be verified from recent and reliable sources for accurate salary information.

Conclusion

In conclusion, the salary of a Chartered Accountant (CA) in India can vary significantly based on various factors. For fresh CA graduates, the average starting salary typically ranges from INR 6 to 8 lakhs per year in reputable accounting firms like the Big Four (Deloitte, PwC, EY, and KPMG) and investment banks such as JP Morgan.

For those with more experience and expertise, the earning potential increases significantly. Experienced CAs can earn salaries of up to INR 25 lakhs per year in top accounting firms and financial institutions.

FAQs

What is the salary of CA?

India: For fresh CA graduates, the starting salary can range from INR 6 to 8 lakhs per year in reputable firms and industries. With experience, CAs can earn higher salaries, even reaching up to INR 25 lakhs per year or more in certain sectors.

What is the salary of a CA  in India per month?

The salary of a Chartered Accountant (CA) in India can vary based on factors such as experience, job role, company, and location. On average, a CA’s monthly salary in India for fresh graduates can range from approximately INR 40,000 to INR 70,000. However, this figure can vary significantly, with some CAs earning higher salaries based on their qualifications and the employing organization.

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