Chartered Accountancy Profession in India and Your Career Prospects

A career in chartered accountancy is for the people who have a penchant for numbers and accounts. The demand of CA’s has been growing in between 10 percent to 15 percent over the last three years and the trend is expected to continue in the coming years.

Chartered accountancy is one of the highest paying careers in the country. It is not only remunerative but is considered to be one of the most respected professions in India. As per the news published in one of the leading newspapers, in ICAI campus placements 952 Chartered accountants were placed with an average annual salary package of around Rs 7.28 lakh. This is a clear indication of high demand for accountancy professionals in the market. ICAI has organized this placement drive across 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 paymasters of CA are E&Y, Deloitte, ICICI Bank and PWC.

Where are the CA jobs available?

As per the current job trends, CA’s are in high demand not only in the core sectors like banking, financial services, or manufacturing but even in new age sectors like Information Technology, telecom, risk and assurance services, infrastructure and retail. High earning potential jobs are available in banks, PSU’s, auditing firms, finance companies, mutual funds, portfolio management, stock broking firms, legal firms and so on and on. Financial inclusion is the next high potential job generating sectors.

The work of a CA is mainly involved in auditing financial reporting, creating and maintaining accounting systems, corporate finance, and tax management, among others. A fresh chartered accountant can earn somewhere in between INR 5 to 7 lakh per annum. With the increase in the years of experience and expertise, the salaries can go as high as INR 18-24 lakh per annum.

Here are the top career options for the chartered accountants, take a look-

· Audit and Taxation

· Finance Advisory

· Investment Banking

· Banking and Financial Services

· Outsourcing

· Academics

· Corporate Sector

Chartered accountants are one of the most rewarding career domains to be in. The courses required are common proficiency test (CPT), Integrated Professional Competence Course (IPCC), CA final and Articleship.The modern age CA is technically armed to serve as management consultants and play a pivotal role in helping business and industry to optimize the use of resources, increase their efficiency and accomplish their targets.

People in this occupation must work strategically and maintain utmost amounts of precision. There is a huge scope for the budding CA’s. To conclude, it would be good to say that CA jobs are financially rewarding and personally gratifying.