With the swift advancement in Indian economy, Chartered Accountants (CA) are high in demand. In any given organization, usually Chartered Accountants occupy highly respectable and reputed posts. They are the ones who are responsible for everything, right from handling of accounts and finance related matters to deal with money management, analyzing and preparing for audit accounts, along with rendering financial services. The work nature of Chartered Accountants (CA) includes all possible areas of business as well as finance. To be one of them, one has to pass rigorous number of examinations. Though, the Chartered Accountants (CA) field is fruitful and has been occupied with handsome salary. Some of them are involved in public practices, some of them in private sectors, while some are employed by government organizations. The Chartered Accountant (CA) is the one which is authorized to render an audit opinion on a company’s financial statements. According to the survey conducted by a campus placement programme in ICAI, certain things have been noticed related with the Chartered Accountant salary, they are as follows:
Chartered Accountant Salary - Year 2008-2009 – The average salary proffered to the newly qualified and knowledgeable Chartered Accountant(CA) is about Rs. 6.11 lakhs per annum. In addition, the premier salary specified for domestic posting in the Campus Placement Programme of ICAI is Rs. 10.61 Lakhs per annum. Also, the highest salary declared for International Programme is Rs. 21.00 Lakhs per annum. Amongst all sector indices, IT software sector (16.16%) is the highest recruiter, whereas other major recruiters involve Mining (8.42%), Banking (7.52%), Financial Services (6.40%), and Oil & Gas Refining (5.50%).
Chartered Accountant Salary - Year 2008 – Since year 2008, the demand for Chartered Accountants (CA) in the country has risen up. Now, as compared to other qualified and experienced professionals, there are more and new opportunities for Chartered Accountants (CA) in the country. In fact, in the coming few years, growth and advancement in the finance and accounting outsourcing i.e. BPOs and KPOs will add the demand of Chartered Accountants (CA). At present scenario, approx. 9,000-10,000 Chartered Accountants pass out from ICAI every year. Salaries offered in the campus placements in ICAI have also being rising. As compared to previous year, in this year, there was approx. 50% jump in the campus placements in ICAI in the salary range between Rs. 5,00,000 - 7, 49,000/-.
Few highlights of campus placement programme in ICAI – 2008 – As per the Chartered Accountant Salary (CA salary) survey in India, the highest salary proffered for Chartered Accountants for International posting in the campus placement programme was Rs. 16.17 lakhs per annum. Besides this, the highest salary rendered for domestic posting in the Campus Placement programme is Rs. 12.00 lakhs per annum. On the other hand, the average salary provided to the newly qualified Chartered Accountants is about Rs. 6 lakhs per annum. Amongst all sectors, Banking sector (13.97%) is the highest recruiter, whereas other major recruiters include IT Software (11.30%), Oil & Gas refining (8.87%), Financial Services (8.32%), and Mining (5.65%).
Highlights of campus placement programme in ICAI – 2007 – The highest salary offered to candidates for international posting is of Rs. 38.25 lakhs. Whereas for the Indian posting, the highest salary proffered in the programme is of Rs. 10 lakhs. Since the introduction of campus placement services by the Institute, the amount of candidates positioned in any single campus placement programme is 1840. In addition, the candidates who have made salary package offer beyond Rs. 5 lakhs is 798.
Chartered accountancy is a profession, where returns are extremely fruitful and high either it is public, private or own consultancy organization. Depending upon the qualification and experience, the salaries of Chartered Accountant vary in both public and private sectors. In domestic arena, at the junior most level, average salary is between 10k-15k whereas senior most Chartered Accountants deserves 50-60k per month salary. In abroad, salaries are better and may go up beyond Rs. 50k. Last but not least, salary of CA also depends upon the numbers and kinds of clients, particular organization have.