Inquiry from Someone Without a CA Background
Hello everyone,
I have a friend who recently completed their CA and is currently employed as a finance associate. I’m curious about the average salary for professionals in this field, as he is earning around 9 lakhs per year and feels that he is underpaid. Additionally, what kind of salary growth can one expect over the next five years in this role?
One response
Hi there,
Congratulations to your friend on clearing CA! Starting salaries can vary widely based on factors such as location, the specific firm, and the individual’s role, but 9 lakhs per annum is generally a decent starting salary for a newly qualified CA in many locations in India.
As for average salaries in this field, here are some general insights:
Entry-Level Salaries: Newly qualified CAs can expect salaries ranging from 6 to 12 lakhs per annum, with major firms or roles in investment banking potentially offering higher starting salaries.
Growth Over 5 Years: In terms of growth, it’s not uncommon for CAs to see salary increments of 10-20% annually, assuming good performance. After about 5 years of experience, it’s reasonable for a CA to aim for a salary in the range of 12-20 lakhs per annum or more, depending on their specialization and the demand for their skills.
Further Specialization & Roles: Moving into roles like financial manager, tax consultant, or corporate finance can also significantly impact salary. Obtaining additional qualifications (like CFA or CPA) may further enhance earning potential.
It’s important for your friend to reflect on their specific situation, industry, and career ambitions when assessing their compensation. Encouraging them to have open conversations about performance and salary expectations with their employer can also be beneficial.
Hope this helps!