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INCOME OF A CHARTERED ACCOUNTANT IN INDIA

The initial salary of a Chartered Accountant in India may depend upon factors like a number of attempts or marks or even rank of the candidate but later on, all that matters is the knowledge, skills, passion for learning every day, and the capability to withstand the obstacles and handle the stress that comes with the work. Those with a sheer will and appropriate skills can earn pretty good and there is no upper limit for the earnings of a charted accountant in India when one is working hard and smart justifying the profession and coping up with the day to day changing world.<br>TO KNOW MORE: https://www.cheggindia.com/career-guidance/salary-of-a-chartered-accountant-in-india/<br>

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INCOME OF A CHARTERED ACCOUNTANT IN INDIA

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  1. Salary of a Chartered Accountant in India www.cheggindia.com

  2. Chartered Accountant is one of the professionals in India who gets handsome pay with no or less investment. Hence we will discuss the salary of a Chartered Accountant in India. Mostly students with commerce & math backgrounds with subjects like Accountancy, Business Studies, Economics, Legal Studies, Business laws, Math choose to pursue their career in Chartered Accountancy. So, one should give a thought if he has even a little bit of interest in trade, commerce, laws, economy, etc. Chartered Accountants are professionals who are specialized in the field of business and finance which include taxation, auditing, general and financial management. The Institute of Chartered Accountants of India (ICAI) is an accounting body that regulates the accounting standards, ethics acts, & rules of the Chartered Accountant profession. Some Chartered Accountants are employed by government bodies, others work in the private sector, & on the other hand some practice on their own. INTRODUCTION

  3. THE BIG 4 AUDIT FIRMS The biggest players in the market are four prestigious firms which are Klynveld Peat Marwick Goerdeler( KPMG), Ernst & Young (EY), PricewaterhouseCoopers (PWC), & Deloitte. The major significant part of audits of public as well as private companies are done by The Big 4. The Big 4 is the largest accounting firm that specifically deals with financial management, actuarial, management consulting, &corporate finance. The people who have started their career with one of the firms of Big 4 gets initially package of 6-8 lakh but with experience of 4-5 years, they start earning an average annual package of 24-25 lakh. auditing, legal services,

  4. CA FIRMS A new Chartered Accountant is full of aspirations and wants to conquer the professional world and earn a hefty amount based on his/her skills and knowledge. Some Charted Accountants want to start their own practice after few years of experience in the field so they opt to join big Chartered Accountant firms and work as an associate to learn the practices and implement their skills while handling clients as well as the income tax officers. Some might think that this experience can be gained throughout the Article-ship period, but it is not true as the scope and the possibilities are limited while one is an article but these possibilities come as real-life business scenarios after an individual becomes a Chartered Accountant.

  5. DREAM COMPANIES LIKE MARICO/ HUL/ P&G/ RB These companies are a part of dream league companies as each new Chartered Accountant aspires to be a part of them because of the endless benefits and perks provided by these companies. Companies like MARICO, HUL (Hindustan Uniliver), RB (Reckitt Benckiser), and P&G (Procter & Gamble) offer jobs to rank holders who get a rank of 1 to 50 in the final Chartered Accountant exam. These companies are the best in the market and hence they need the top Charted Accountants to handle their finances. These companies offer the CAs with starting packages of 18 to 25 lacs per year which is a hefty amount for a fresher. Chartered accountants with more attempts can be selected by the Big 4 companies as mentioned earlier for a package of 6-8 lacs in the starting but as they work efficiently and keep growing for 3-4 years then their package also reaches up to 24-25 lacs per annum.

  6. CA’S IN THE IT INDUSTRY From small to big organizations, everyone needs a CA for accounting the profitable earnings. Thus, Chartered Accountants are in great demand. To be effective, CA also needs to be continuously updated with the knowledge, amendments occurring, its consequences & how to overcome those challenges so that it does not affect profits of the business & position in the market. There are various IT companies such as Infosys, TCS, Wipro, Reliance Industries where many CA’s can work with good pay & less workload. CA gets paid according to their skills & profiles with an average of 8-10 lakh initially which goes to 40- 60 lakh with many years of experience & high position.

  7. PART-TIME JOB OPTIONS 1-Subject Matter Experts or Managed Network Experts at Chegg- Chegg provides a golden opportunity to the Charted Accountants who are well versed with theoretical and practical knowledge and a plethora of financial laws and quotations, to be a part of Chegg and SIGN UP as a Subject Matter Expert or Managed Network Expert to share their knowledge and earn a good amount of money. They can resolve the academic subject queries of students studying in foreign universities and colleges and earn money for each resolved query. The money is fixed for each query and as the ratings of the expert increase, the money will also be increased per query. 2- Helping neighborhood firms- A CA aspirant while studying can help neighborhood firms with accounting and tax filing and charging a small amount for all the work. 3- Teaching tuitions- If a CA is able to spare some time then can give tuitions to commerce stream school students in Accounts and other similar subjects and charge an appropriate fee.

  8. PUBLIC SECTOR UNDERTAKINGS (PSU’S) There are ample numbers of opportunities for a Chartered Accountant in Government sectors. Public Sector Undertakings like Bharat Heavy Electrical Limited (BHEL), Oil and Natural Gas Corporation (ONGC), Steel Authority of India Limited (SAIL), Coal India Limited (CIL), National Thermal Power Corporation (NTPC) generally employs fresher CA through campus placement whose marks are between 55% – 60% in CA final with two or more attempts. The earnings in PSUs can be from 8 lakh to 20 lakh per annum. As the PSUs have finance departments they need qualified CAs to handle finance-related matters.

  9. CONCLUSION The initial salary of a Chartered Accountant in India may depend upon factors like a number of attempts or marks or even rank of the candidate but later on, all that matters is the knowledge, skills, passion for learning every day, and the capability to withstand the obstacles and handle the stress that comes with the work. Those with a sheer will and appropriate skills can earn pretty good and there is no upper limit for the earnings of a charted accountant in India when one is working hard and smart daily justifying the profession and coping up with the day to day changing world.

  10. BOOST EARNINGS AND MARCH AHEAD OF YOUR CAREER Become a Subject Expert with CHEGG SIGN UP NOW

  11. Thank You.

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