CA Course Salary in India

CA's income is measured in lakhs, making them one of the best-paid professionals in India. The expansion of the financial industry, which increased demand and work opportunities for Chartered Accountants, is the main cause of their higher salaries. The annual salary range for a CA in India is between INR 5,00,000 and INR 12,00,000, or an average of INR 7,00,000. Additionally, depending on their qualifications and experience, Chartered Accountants can earn up to INR 50,00,000 to INR 60,00,000 per annum. Among the largest employers of CAs are India's MNCs and the Big 4 corporations. A good salary of up to INR 70,00,000 to 80,00,000 per year is also possible for CAs working outside of India.

A CA's pay is based on a number of variables, including the candidate's rank, number of attempts, skills, knowledge, experience, and expertise. However, great discipline and a lot of hard effort is needed to get attractive perks and outstanding pay. Also, you will need to have solid CA articleship experience and pass all the course levels with an All India Rank (AIR) on your first attempt. Hence, Chartered Accountancy is a great and high-paying career for you if you have an interest in accounting, taxation, and finances.

According to the ICAI report 2022, the average annual remuneration for a CA in India ranges from INR 6,00,000 to INR 9,00,000 and can reach up to INR 50,00,000 - INR 60,00,000. As per the recent Chartered Accountants’ salaries data collected from credible sources like ambitionbox and glassdoor, the following findings are presented below:

In India, the average yearly compensation for CA is between INR 6-7 lakhs. The typical salary for a CA might range from INR 40 to 60 lakhs, depending on their qualifications and experience. If they are appointed internationally, they can earn up to INR 75 lakhs annually. At the most recent ICAI placement, the average annual salary for a CA was INR 8.4 lakhs. A Chartered Accountant’s starting salary ranges from INR 20 LPA to INR 30 LPA for some of the best firms, including IBM, Ranbaxy, Sony, TCS, and Infosys. An experienced professional in this industry at any senior level earns INR 78 lakhs - 2 Crore annually in salary. Furthermore, many CAs even start their own practices after gaining some experience in a renowned company. A Chartered Accountant’s potential for advancement and financial reward is unrestricted.

CAs are hired by several global corporations headquartered in India, including Google, Credit Suisse, Ernst & Young (EY), KPMG, Deloitte, Tata Consultancy Services (TCS), and American Express, for their top notch skills and expertise in accounting, taxation, and financial management. The placement in these firms gives the resume a lot more weight. Depending on the profile and experience, salaries change. Candidates with more experience might earn a fantastic package that includes a number of benefits in addition to their compensation.

The top companies and salary packages they offer to CAs are mentioned in the table below:

As a CA in India, the salary one earns varies greatly depending on the sector one works in. Here's a breakdown of the average salaries for Chartered Accountants in different sectors:

Public Accounting Firms: These firms are among the biggest employers of CAs. The salary here ranges from INR 7-25 lakhs per annum, depending on experience and performance. Examples of such firms are Deloitte, EY, KPMG, and PwC.

Investment Banks: CAs in investment banks are primarily responsible for financial analysis, preparing reports, and ensuring regulatory compliance. The average salary here is around INR 12-30 lakhs per annum, depending on experience and the bank one is working for. Examples of investment banks are Goldman Sachs, Morgan Stanley, and JP Morgan.

Financial Services: CAs in this sector work for insurance companies, mutual fund houses, and other financial institutions. The average salary here ranges from INR 8-20 lakhs per annum. Examples of such firms are HDFC Life, ICICI Prudential, and Franklin Templeton.

Manufacturing and Industrial Sectors: CAs in the manufacturing and industrial sectors work as financial controllers, CFOs, and internal auditors. The average salary here is around INR 8-25 lakhs per annum, depending on the size of the company and the level of experience of the CA. Manufacturing and Industrial Sectors that hire Chartered Accountants are Tata Motors, Hindustan Unilever, Nestle, Sun Pharmaceuticals, Dr. Reddy's Laboratories, Tata Steel, Raymond, Reliance Industries, etc.

IT Companies: Fresher CAs are paid between INR 8 and 10 lakhs annually by IT businesses. The annual salary for seasoned accountants will be around INR 50 lakhs. The finest IT companies for Chartered Accountants who don't offer additional workload are TCS, Wipro, and Infosys. CAs may have a decent job with a nice package and a little workload in these companies. In such firms, their major task is to boost revenue and cut costs using their knowledge and analytical abilities.

Consulting Firms: CAs in consulting firms provide financial advisory and consulting services to clients. The average salary here ranges from INR 10-30 lakhs per annum, depending on experience and the size of the firm. Examples of such firms are McKinsey & Company, Boston Consulting Group, and Bain & Company.

Government Sector: CAs in the government sector work in various departments such as income tax, customs, excise, and audit. The salary in this sector ranges from INR 6-12 lakhs per annum, depending on the level of experience and the government department one is working for.

The salary of a Chartered Accountant in India depends heavily on their level of experience. Here is a breakdown of the average annual salaries for CAs based on their experience:

It's vital to keep in mind that these numbers are merely averages and may change depending on the performance of the industry, the firm, and the individual. Additionally, some CAs might decide to open their own practice or consultancy; in this case, their income might be based on the number of clients they have and the services they provide.

CAs receive different salaries depending on the nation in which they work. Several nations have greater demand for Chartered Accountants than others. Also, the salary packages are influenced by the cost of living, the value of human resources, the financial sector, and the size of the companies. See the table below for a comparison of CA salaries in India and other nations:

Geography is a highly important factor in deciding a CA's income. Comparatively speaking, those who live in major metropolitan cities make more money than those who live in the suburbs or the periphery. The median Chartered Accountant salary for each city is shown in the table below:

The salary of a CA in India is often dependent on their skills and expertise. Chartered Accountants who have developed specialized skills, such as in tax planning, audit, financial analysis, and risk management, are generally in high demand and can command higher salaries than those with more general skills.

The skill-wise salary of a CA in India is mentioned in the table below:

A CA’s job profile can have a significant impact on their salary. Generally, job profiles that require higher levels of expertise, experience, and responsibility tend to offer higher salaries. For example, a Chartered Accountant working as a Chief Financial Officer (CFO) or a Finance Manager may earn a higher salary than working as an Audit Manager or a Financial Analyst. In addition to the job profile, other factors such as the industry, size of the organization, location, and the individual's experience can also impact their salary. 

In the table below, you can check out the salary of a CA based on various job profiles they work under:

Here are the crucial steps that you must know and follow if you want to be a high-earning CA professional in India:

1. Increase Your Exam Score 

You have a better chance of being offered a competitive annual package if you do well on the CA Final exam. Chartered Accountants are paid between INR 20,00,000 and INR 25,00,000 annually if they receive an All India Rank in the Final level exam. In addition, you can apply for positions at the Big 4 enterprises and large corporations if you have ranked highly in all the levels of the CA exam.

2. Take fewer attempts to pass the CA exams

A candidate can still make a respectable monthly income even if they do not receive an All India rank but pass the CA exams in one or two attempts. Chartered Accountants would undoubtedly receive remuneration of INR 14,00,000 to INR 15,00,000 with less effort, according to recruitment insights from the leading CA firms in India. The Big 4 firms and other Chartered Accountancy firms both accept applications from top Chartered Accountants in India. Also, you could apply to government-run businesses or PSUs, which shortlist applicants based on how many times they have attempted the exam.

3. Master Financial Analysis and Accounting

As a CA, managing the books of accounts and creating budgets and statements will be your main responsibility. Hence, learn how to record, manage, and analyze financial accounts in order to gain useful insights. You can enroll in online courses from reputable mentors for this. In order to discover how industry leaders perform at their jobs, you can also emulate them.

4. Gain Expertise in Microsoft Excel

Microsoft Excel is a tool that any CA should be proficient in since it can be used to record, manage, and analyze financial data. Also, a lot of businesses require that Chartered Accountants have a fundamental understanding of Excel. So, you can use online courses that are conveniently available on the web to learn Excel and use them in your regular tasks.

5. Work in a Reputable Articleship Firm

Your compensation in the first few years will be heavily influenced by your CA articleship experience. As a result, we advise all students to put in more effort and join a reputable articleship company. Avoid skipping or choosing a substandard articleship. Your articleship experience will put you ahead of other applicants.

6. Strengthen your Communication Skills

The capacity to boldly convey your ideas in meetings is a sign of good communication skills. Effective communication will help you get selected for interviews. Also, it will aid in your long-term advancement. You can enroll in the general management and communication skills course offered by ICAI.

7. Choose a better place to work

The geographical location of the city or state in which a CA works plays a vital role in determining their salary. The compensation packages offered to Chartered Accountants in tier 1 cities such as Mumbai and Delhi are relatively higher as compared to those in tier 2 cities like Jaipur and Ahmedabad. This is due to the higher cost of living and greater demand for CAs in these metro cities. Therefore, it is advisable to opt for companies located in metro (tier 1) cities to maximize their earning potential. Additionally, working in a tier 1 city can provide more opportunities for professional growth and career advancement.

Yes, the salary of a CA can depend on the number of exam attempts. If a candidate clears the Chartered Accountancy exams in one or two attempts, they are more likely to earn a higher salary than those who take multiple attempts to clear the exams. This is because clearing the exams in fewer attempts demonstrates a higher level of competency and knowledge in the field, which is valued by employers. However, other factors such as work experience, job role, and location can also impact the salary of a CA.

The salary of a CA in practice can vary widely depending on various factors such as their experience, location, client base, and the services they offer. As per the Institute of Chartered Accountants of India, the average salary of practising Chartered Accountants ranges from INR 7-15 lakhs per annum. However, this can go up to several crores for experienced and reputed CAs who have a large and loyal client base.

The income of a CA in practice is primarily generated from the fees charged for various services such as audit, taxation, accounting, financial planning, and consultancy. The fees for these services can vary depending on the complexity of the work and the time and effort required to complete it. Some CAs also earn additional income from investments, stock trading, or other business ventures.

As a CA, there are various income sources other than salary that you can explore. Some of them are:

1. Consultancy fees: Chartered Accountants can offer their consultancy services to clients, which can be charged on an hourly or project basis.
2. Audit fees: CAs can also earn income by conducting audits for clients. The fees for audits are usually fixed based on the size of the organization.
3. Fees for tax-related services: Chartered Accountants can offer tax-related services to individuals and companies. This includes filing tax returns, tax planning, and tax compliance. The fees for these services can be charged on an hourly or project basis.
4. Training and coaching fees: CAs can provide training and coaching to clients in various areas, such as financial management, budgeting, and taxation. The fees for these services can be charged on an hourly or project basis.
5. Investment income: Chartered Accountants can also invest their money in various financial instruments such as stocks, bonds, and mutual funds to earn income from interest, dividends, and capital gains.
6. Royalty income: CAs can write books, publish articles or develop software related to finance, accounting, and taxation. This can generate royalty income for them.
7. Partnership income: Chartered Accountants can form a partnership with other professionals to offer services to clients. The income generated from the partnership can be shared among the partners.

After becoming a CA in India, there are various job opportunities available in both public and private sectors. Here are some examples:

1. Audit and Taxation: CAs can work as auditors or tax consultants in firms like KPMG, Deloitte, EY, PwC, etc. They can also work independently as auditors or tax consultants for small businesses.
2. Finance and Accounting: Chartered Accountants can work in the finance and accounting departments of companies. They can handle financial reporting, analysis, budgeting, cost accounting, and treasury management.
3. Investment Banking: CAs can work in investment banking firms as financial analysts or advisors. They can advise clients on mergers and acquisitions, capital raising, and investment opportunities.
4. Government Jobs: Chartered Accountants can apply and work for various government jobs in India, such as Indian Revenue Service, Indian Audit and Accounts Service, and public sector undertakings like ONGC, BHEL, and NTPC.
5. Teaching: CAs can also opt for teaching jobs in universities or coaching centers. They can teach accounting, taxation, auditing, and finance-related subjects to students.
6. Entrepreneurship: Chartered Accountants can start their own business ventures like accounting firms, tax consultancy firms, or financial advisory services.

In the government sector, CAs can apply for positions such as Accounts Officer, Tax Officer, and Auditor in various organizations such as the Comptroller and Auditor General of India (CAG), Income Tax Department, and Indian Audit and Accounts Service (IAAS). In the private sector, CAs can work in different industries like banking, insurance, financial services, and corporate finance. They can work as auditors, financial advisors, tax consultants, and risk managers in renowned organizations like Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers (PwC). 

Furthermore, CAs can also work in corporate houses like Tata, Reliance, and Adani. Apart from these, they can also work as professors or faculty members in colleges and universities offering Chartered Accountancy courses or can choose to start their own practice or consultancy firm.

There are a variety of job opportunities available for Chartered Accountants in both government and private sectors in India. A few of them are listed below:

Jobs after CA in Government Sector:

• Indian Audit and Accounts Services (IAAS)
• Indian Revenue Service (IRS)
• Indian Corporate Law Services (ICLS)
• Defense Accounts Department (DAD)
• Controller General of Accounts (CGA)
• State Government jobs such as State Accountant and State Auditor

Jobs after CA in Private Sector:

• Accounting Firms (such as the Big 4)
• Investment Banks
• Consulting Firms
• Financial Services Companies
• IT and Software Companies
• FMCG Companies
• Manufacturing Companies
• Real Estate Companies
• E-commerce Companies
• Startups

Below is a list of some of the top recruiters of new and experienced CA graduates in India for your reference:

• Deloitte
• KPMG
• EY
• PwC
• Grant Thornton
• BDO
• RSM International
• ICICI Bank
• HDFC Bank
• Axis Bank, etc.

A few of the top recruiters for CAs in foreign countries are:

• Baker Tilly International
• Crowe Global
• Nexia International
• Moore Global
• Mazars
• McKinsey & Company
• Accenture
• Goldman Sachs, etc.

Candidates must note that this is not an exhaustive list, and there are many other companies and organizations that recruit CAs in India and abroad.