The Complete Guide to Understanding CPA Salary Trends in India
The title "certified public accountant" (CPA) is used in many English-speaking countries to indicate an accountant's credentials.CPA is gaining popularity as a global accounting profession. Although many students are familiar with this field, relatively few are aware of its scope, compensation, or obligations after completing the CPA course.
One will comprehend how beneficial a CPA Course is in comparison to a standard accounting course once they are aware of the advantages of completing a CPA course. Due to a developing economy and a high demand for financial competence, India has an appealing CPA salary. Therefore, read this article to grasp the CPA pay trends in India before you start your trip.
CPA salary in India ( Average Salary)
India is emerging as a worldwide superpower With numerous US-based organisations, especially the big four audit firms like Deloitte, Ernst & Young, KPMG, and PriceWaterhouseCoopers—opening offices in India. In addition, many multinational companies from India have their offices in the USA, therefore there is a soaring demand for accounting professionals who know US GAAP and US accounting laws.
Why CPA in India?
The duties and responsibilities listed below demonstrate the need for CPAs in India and justify their pay here.
- CPAs develop strategies to conserve the capital of an organisation while keeping an eye on companies financial management and budget.
- They create and examine the company's financial statements, including the balance sheet and ledgers, to ascertain the real financial situation of the business.
- They offer suggestions on how to handle the tax consequences of business decisions made effectively.
The average CPA salary in India
CPA salary in India is influenced by a variety of things such as work experience, type of industry, Company size, location, salary for freshers, and job profile. For instance, according to payscale the average salary of a CPA is 6,94,000. However, in cities like Mumbai, the pay could be as high as 13 lakhs per year.
Below is the list of categories that determine CPA salary in India
CPA salary in India depending on Job Profile:
Since CPA is an advanced accounting profession, it offers a variety of career options based on experience. Following the successful completion of the CPA course, some of the most preferred job profiles include financial reporting, forensic accounting, financial reporting, management and consulting services, and auditing.
CPA salary in India for Freshers:
In India, the annual salary of a fresher is around 6 lakh. The average annual pay, however, might reach as high as 14 lakhs in major cities like Bangalore, Mumbai, and Delhi. Furthermore, salaries may differ from one organisation to another. The annual pay for a qualified CPA working for one of the Big 4 MNCs, for example, can range from 12 to 24 lakhs.
CPA salary depending on the location:
The average salary of a CPA is based on the location as well. A better location ensures better access to both companies as well as the employee. Hence, working in a prime location offers better pay. Therefore, the bigger the city, the higher the pay. For instance, the average CPA salary in India is 9 lakhs per annum.
CPA salary in India based on experience:
With more years on the job, a CPA earns more money. The majority of the time, knowledge and experience play a role in compensation determination. As a result, if one can manage additional tasks, they can earn a greater wage. In order to increase their salaries, many candidates with work experience also favour taking quick courses.
CPA salary in India based on the size of the company:
The company size also plays a crucial role in deciding the opportunities that offer a better salary. For example, an MNC has numerous growth options depending on the structure, departments, and responsibilities available. On the contrary, working for a small or medium-sized business would guarantee that you would be involved in the important financial choices made by the business and that you would get greater exposure and learning chances.
Conclusion
To sum up, the average CPA salary in India for a fresher ranges between 6-8 lakhs per annum. However, the pay increases with experience and handling various roles in finance. In addition, the salary also depends on the size of the company. For instance, MNCs pay around 10 to 28 lakhs for a senior consultant. Therefore, if you are wishing to make a career in finance then taking up a CPA course is essential.