CA Salary in India: Starting, Per Month, Average, Highest

We cannot deny that there is a craze among youngsters to become Chartered Accountants in India. Some of the reasons include a high chartered accountant salary and career growth. While there are some of the highest-earning professionals, it is not easy to crack. It takes years of rigorous preparation and training to become a CA. As per the ICAI placement February-March 2024, the highest salary of CA for domestic was 36 LPA. Moreover, the average salary of CA in India is expected to be around 11 LPA.

Wait! Is it that simple? Just like its qualifying process, the income of a chartered accountant relies on various factors. In this blog, we have discussed the average, highest, and per-month CA salary in India based on their city, experience and other factors. Continue reading for details on chartered accountant salary or the highest package of CA in India.

Who is a Chartered Accountant?

A Chartered Accountant is a finance professional who executes accounting procedures. CAs mainly deal with accounting tasks, but their responsibility also involves auditing, taxation, and general management work. A chartered accountant is an internationally acclaimed professional, so every country has a separate professional body that awards certification after clearing a designated exam and a certain number of years of practice.

In India, we have the Institute of Chartered Accountants of India (ICAI), which regulates the income of CA and whether or not a candidate is eligible for this post. The job role of a CA is vast or narrow depending upon his/her focus area. Based on this, the CA salary in India is decided. CA starting salary in India can be approximately 6 LPA, depending on skills and experience. Chartered Accountants are employed in four major sectors, including corporate finance, public practice, forensic accounting or with major businesses. Accordingly, the income of a CA would vary.

Factors Affecting CA Salary in India

Chartered Accountants are skilled professionals who play a major role in the Indian economy. They are like gatekeepers who keep the country’s financial health in check by offering invaluable services such as Auditing, Financial Planning, etc.

If you are working as a Chartered Accountant, your role would be pivotal in ensuring a prosperous economy. You shall be responsible for auditing, taxation, and offering financial advice. All these services are crucial to ensuring success in any business organisation. Thus, you can get handsome salaries.

The average salary for a CA in India is around 11 LPA. However, the actual income depends upon a multitude of factors, such as:

What is the CA salary in India?

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  Experience: One of the most important factors that affects the salary is experience. The more experience you have, the more valuable you are to your employer. Therefore, you can command a higher salary. Entry-level Chartered Accountants or CA starting salary can be around 6 to 7 LPA and those with experience can expect a starting salary of CA around INR 10 lakh per annum.
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  Location: The location where you work can also affect your CA salary in India. Chartered Accountants who work in metro cities earn more than those who work in smaller towns and rural areas. This usually happens due to the higher cost of living and more opportunities in these areas. Therefore, the average salary of CA in India varies depending on the city.
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  Industry: Another factor that affects the average or starting salary of CA in India per month is industry. Chartered Accountants salary of who work in particular industries, such as Finance, Banking, and professional services, can expect to earn more than those who work in other industries.
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  Employer: The company where you work also impacts your CA salary. Chartered Accountants employed by MNCs generally earn more than those working for start-ups & small businesses.
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  Qualifications: The qualifications you have can also impact your salary. Chartered Accountants who have additional qualifications such as MBA, can expect higher salaries.

Chartered Accountant Salary Based on Experience

The salary of CA in India significantly depends on the experience one holds. Check CA average salary in India based on experience.

Average Salary of CA in India Based on City

If you are willing to get the highest package of CA in India, you should check the city you are situated in. Check the CA average salary based on the city.

Skills Required to Get Highest Package of CA in India

To get a good chartered accountant salary, here are some of the skills you must have:

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  In-depth knowledge of accounting and auditing standards
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  Understanding of tax laws
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  Skills to analyse financial records
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  Proficiency in various accounting tools such as Tally
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  Must have knowledge of regulatory standards and compliance
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  Analytical skills
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  Critical thinking ability
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  A keen eye for detail and organisational skills
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  Sound presentation and communication skills
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  Problem-solving attitude
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  Strong leadership and management skills
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  Ability to handle pressure
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  Risk management skills

What are the Roles and Responsibilities of a Chartered Accountant?

Before moving into this profession, let’s know the roles and responsibilities of a Chartered Accountant.

1. Accountancy

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  Preparation of financial statements, bookkeeping, and financial analysis
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  Keeping track of an organisation’s income and expenses

2. Auditing

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  Critical thinking and ability to make critical decisions
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  To ensure that financial statements are prepared as per the accepted accounting practices
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  Analysing complex situations to generate a high revenue

3. Taxation

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  Prepare tax returns, present them before tax authorities and offer tax-related advice to his clients

4. Cost Accountancy

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  Has to figure what will be the cost of production and what will be the expense at each stage
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  Use cost control measures and fair selling price

5. Investigation

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  He/she has to conduct frequent inquiries of a company’s financial status
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  Analyse the financial statements during the acquisition, sale, reconstruction or merger of businesses
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  To improve the management in order to identify the reason behind the rise or fall in earnings

6. Secretarial Work

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  Play an essential role in the management of small businesses
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  Provide secretarial services

Some other responsibilities of a Chartered Accountant are: 

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  Preparing profit/loss accounts and balance sheets
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  Ensuring that the financial aspects of the company are in line with laws
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  Assisting clients with financial advisory
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  Evaluating accounting systems and laying improvement plans
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  Analysis of financial reports to enhance profitability and growth
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  Preparing and maintaining business performance reports for management review
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  Managing payroll, reviewing budgets, and investments

How to Become a Chartered Accountant in India?

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  You can register for the CA Foundation course after the 12th class. You can apply through the official ICAI website.
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  The CA Foundation course is divided into four subjects and two groups. You have to study diligently for the exams.
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  After clearing the CA Foundation, the exams will be conducted twice a year, usually in May and November.
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  You can enrol in the CA Intermediate course to clear your understanding of accounting, auditing, taxation, and related subjects.
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  Before CA Intermediate exams, finish Articleship training at a CA firm or under a practising CA.
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  You have to attempt the CA Intermediate exams, which occur twice a year.
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  You have to sign up for the CA Final course after completing CA Intermediate and finishing Articleship.
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  Be ready for the CA Final exams. The course will cover advanced topics, so make sure to prepare thoroughly.
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  Now, you have to go for CA Final exams, which are conducted twice a year, usually in May & November.
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  You have to go for General Management & Communication Skills training to improve your communication and managerial abilities.
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  Now, you have to apply for ICAI membership. After approval, you can become a qualified Chartered Accountant.

Summing Up

You must have understood by now that the income of Chartered Accountant depends on various parameters. To find which category and salary slab you fit in, you need to verify all the factors. Usually in metro cities and government organisations, the income of CA is high compared to other regions. Moreover, the salary range changes every year as the market moves. The path to this lucrative career opportunity may look hard, but those with sheer determination and the right skills can build a successful career and earn pretty well.