Chartered Accountant Profession in India and Its Career Prospects
A career in public accounting is for people who have a penchant for numbers and accounts. The demand for AC has been growing between 10 and 15 percent in the last three years and the trend is expected to continue in the coming years.
Certified accounting is one of the highest paying careers in the country. Not only is it remunerative, but it is considered one of the most respected professions in India. According to the news published in one of the major newspapers, 952 chartered accountants with an average annual salary package of around Rs 7.28 lakh were placed at the ICAI campus locations. This is a clear indication of the high demand for accounting professionals in the market. ICAI has organized this placement campaign in different cities in India like Ahmedabad, Bangalore, Bhubaneswar, Chennai, Coimbatore, Hyderabad, Indore, Jaipur, Kolkata, Mumbai, New Delhi and Pune.
Some of the high profile recruiters of chartered accountants in India are Reliance Industries, Tata Consultancy Services, Federal Bank, ITC, ICICI Prudential Life Insurance, L&T, Wipro, Bharat Petroleum Corporation, Engineers India, GAIL etc. Some other good CA payers are E&Y, Deloitte, ICICI Bank, and PWC.
Where are CA jobs available?
Based on current employment trends, CAs are in high demand not only in core industries like banking, financial services, or manufacturing, but even in new-age industries like information technology, telecommunications, information services, and more. risk and guarantee, infrastructure and retail. High earning potential jobs are available at banks, PSUs, audit firms, finance companies, mutual funds, portfolio management, stock brokerage firms, law firms, etc. Financial inclusion is the next high-potential job-generating sector.
The work of a CA is mainly related to the audit of financial reports, the creation and maintenance of accounting systems, corporate finance and tax management, among others. A new chartered accountant can earn between INR 5-7 lakh per year. With increasing years of experience and knowledge, salaries can reach INR 18-24 lakh per year.
Here are the best career options for public accountants, take a look-
Audit and Taxation
Financial advice
investment banking
Banking and financial services
Outsourcing
academic
corporate sector
Public accountants are one of the most rewarding career areas to be in. The required courses are Common Proficiency Test (CPT), Integrated Professional Competency Course (IPCC), Final CA, and Articleship. The CA of the modern era is technically armed to serve as management consultants and play a critical role in helping businesses and industry optimize usage. of resources, increase their efficiency and achieve their objectives.
People in this occupation must work strategically and maintain extreme amounts of precision. There is a lot of scope for budding CAs. To conclude, it would be nice to say that CA jobs are financially rewarding and personally rewarding.