When we talk of the highest-paid professionals in India, Chartered Accountants (CAs) top the list. These finance professionals have specialised accounting skills. In addition to having a firm grasp of commerce, they are highly proficient in mathematics, economics, accountancy, law, taxation, and business studies.
CAs can work independently as consultants or be employed in companies in the audit team or finance team, work in banking, financial and insurance sectors, and so on. However, the CA monthly salary depends on various factors like skill sets, job profiles, experience, and the employer
Ready to learn all about the CA monthly salary in India? If you’re ready to dive into the details and discover some valuable tips on maximising your earning potential as a CA in India, keep reading!
The high demand for CAs in India
The demand for CAs in India is steadily increasing. Projections indicate that India will need 3 million Chartered Accountants by 2047. As the Indian economy grows, the demand for skilled CAs is expected to rise significantly.
According to reports from the Institute of Chartered Accountants of India (ICAI), 20,446 students qualified as Chartered Accountants for the exam held in May 2024.
In September 2024, the total number of active students in the institute was 9,70,082 (including Final, Foundation, and Intermediate levels), while the total number of active members was 4,22,017 (including ACP, Associate, FCP, and Fellow membership types).
Salary of CA in India: A look across companies and job profiles
The average base salary of a chartered accountant in India in 2024 is approximately INR 968,441 per annum. While the lowest salary is about INR 488,000 annually, the highest salary is almost INR 2.0 million. The salaries are inclusive of bonuses, profit sharing, commissions, overtime pay, etc.
Salary of CA in India in the Big 4
Here’s a breakdown of the minimum, average and highest salaries of CAs in the Big 4:
CA Salary at Deloitte
The average base salary of a CA in Deloitte is INR 1,048,653 per annum. Candidates with 1-2 years of experience earn approximately INR 613,000 annually, while candidates with 5-9 years of experience earn almost INR 2.0 million annually.
CA Salary at KPMG, LLP
A chartered accountant at KPMG gets an average base salary of INR 1,179,162 per annum. Entry-level candidates get a salary of approximately INR 740,000 annually. Experienced CAs draw a salary of INR 1.8 – 2.0 million per annum.
CA Salary at Ernst & Young (EY)
At EY, a chartered accountant earns an average base salary of INR 1,099,723 per annum. Entry-level CAs earn approximately INR 608,000 annually, while experienced professionals earn almost INR 2.0 million yearly.
CA Salary at PwC
The average base salary of a CA in PwC is approximately INR 727,286 annually. Fresher CAs are paid approximately INR 696,000 annually, while experienced professionals are paid about INR 855,000 per annum.
CA monthly salary based on job profiles
A chartered accountant professional can work under various job profiles, each drawing a different salary figure. Here are some popular job profiles and their average base salaries:
Senior Accountant
The average base salary of a Senior Accountant is approximately INR 451,238 annually.
Finance Manager
A Finance Manager draws quite a handsome average base salary in India of approximately INR 1,174,527 per annum.
Forensic Auditor
In India, the average annual salary of a Forensic Auditor is approximately INR 9,00,000. For experienced candidates, the highest salary can reach up to INR 12,00,000 per annum.
Tax Analyst
Tax Analysts in India earn an average base salary of INR 391,063 annually. Professionals with 5-9 years of experience can earn up to INR 669,000 annually.
Financial Analyst
The salary of a Financial Analyst in India is approximately INR 503,000 annually, with an experience of almost 4-8 years. Highly experienced candidates can earn up to INR 2.0 million annually.
Strategies to boost your CA monthly salary in India
Want to level up your earnings as a Chartered Accountant? Here are some smart strategies to help you stand out and boost your CA monthly salary in India:
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Network like a pro
Engage with fellow CAs, industry experts, and professionals through social media, webinars, or networking events. Joining associations and attending industry events can open doors to better job offers and higher pay.
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Earn additional certifications
Advanced licensing and certifications help take your CA career to the next level. For instance, look for certifications like Certified Information Systems Auditor (CISA) or Certified Internal Auditor (CIA). Also, consider licensing in IRDAI, SEBI or GST.
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Gain practical experience
Internships during your CA program can be game-changers. They give you hands-on experience, enhance your resume, and diversify your skill set. All of this can lead to a higher CA monthly salary.
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Stay tech-savvy
Tech skills are a must today. As a CA, familiarise yourself with data analytics tools, accounting software, and automation to set yourself apart from the competition.
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Keep learning
As a chartered accountant, you must always update your knowledge to stay ahead. Explore additional courses like FRM, CFA, or CMA, and attend workshops or webinars to stay current on financial and regulatory changes.
Conclusion
A CA’s monthly salary can vary based on experience, job profile, location, and the employer. They’re the experts who stay on top of constantly changing taxation and compliance rules, ensuring businesses meet all regulatory requirements while maintaining financial integrity. Because of their expertise, hiring CAs is now crucial for organisations across sectors.
Frequently Asked Questions
- Do I get a higher salary if I clear the CA exams on the first attempt?
Yes, candidates who clear the CA exams on the first attempt get a higher salary package, around 12-13 lakhs per annum.
- Does CA articleship count as work experience?
Only full-time jobs are considered when it comes to work experience. A CA articleship can be considered an internship a candidate pursues in the CA program.
- What are the ideal subjects for CA after Class 10?
If you aspire to be a CA, it is best to choose commerce. Subjects like accountancy, mathematics, business studies, and economics lay a solid foundation for the CA course.
