Twitter is the best place to know the talk of the town. Recently, a Twitter post commented by many was the post of CA Chirag Chauhan on the comparison of IAS and CA salary structure. CA Chirag Chauhan is a practising chartered accountant. He is an old Deloitte and Kotak employee. His comparison is with details of the 2024 notification for the IAS officer post. The post went viral. Some say that his stand is in the right perspective in real terms. Some say that the job of an IAS officer is not for mere money earning. He says that the salary of an IAS officer is the starting salary of a chartered accountant. Chartered accountants have a higher salary range. He also commented on freebie politics. The politicians are using the money of taxpayers to help poor people. He also says that India should follow zero reservations on professional courses. He also says that chartered accountancy is a course that has zero reservations. The post of an IAS officer picturises the IAS officers as the authorities with respect and power. The post of a chartered accountant picturises an Auditor as a professional with more intelligence. Here is a blog that compares the growth of a CA and IAS.
IAS officer growth:
The post of CA Chirag Chauhan says that the maximum salary of an IAS officer goes up to 2, 50,000 per month. The Cabinet secretary receives this salary. The approximate salary of an IAS officer ranges from 56,000 to 150000. The stipend of an IAS officer during the training period is 56,100 per month. The Twitter post of CA Chirag shows 2,400 number of likes. The post also has views of 7.5 lakh. The reaction of people to this post is with mixed thought. Some people compare the statement with their personal experience. Some people compare the statement with the moral values. The growth of an IAS officer is the growth of the country. It is not fair to compare the growth of an IAS officer with a software engineer or finance professional. IAS officers serve the general public and not for money.
Growth of a CA:
Recently, in one of the job portals, there was information about the vacancy for the senior consultant ET&P-SAP FICO in Deloitte. The post demand for the experience of eight years in SAP consultation. The qualification is CA or ICWA or MBA Finance. He or she applying for the vacancy should have professional experience in two full life cycles of SAP implementation. The candidate must possess experience in the technical and functional side. The candidate must communicate with the SAP partners, clients, developers and architects. For the same post, the call is for professionals with a background in CA, CMA and MBA finance. Professionals with qualifications like CA/CMA and MBA are competing in the job market. The news is information that throws light on the demand for professionals in the corporate world.
In 2024, Inside India, a chartered accountant earns a salary of 10 to 12 lakh on an average basis. Outside India, the value of chartered accountants is around 75 lakhs. The statistics and campus placement record of ICAI say that the average salary of a chartered accountant in India is 8.5 lakhs. In the financial sector, the new banks under NBFC were given licenses, the financial sector is experiencing rapid growth, and there was a demand for an organised framework in all the sectors of the business. All these demands are calling for the service of a chartered accountant. The new syllabus with attractive subjects and technical skills makes chartered accountants the best performers. ICAI is raising the standards of Indian education to international standards. The MOU of ICAI with other countries like Dubai and Australian universities are increasing the foreign opportunities for Indian chartered accountants.
The professionals with expert knowledge in statutory audit, budget management, financial analysis, and strategic accounting are paid highly in the auditing profession. The professionals with expert knowledge in tax compliance and consultation are paid less in the auditing profession. Auditing and finance are the two divisions with accounting fundamentals. Professionals with CA qualifications receive a salary according to their skills and knowledge.
The following scale explains the salary of a chartered accountant in 2024:
- A chartered accountant with skills in budget management receives a salary of 9.5 to 11 lakhs.
- A salary of 8.9 to 9 lakhs is for professionals with skills in strategic accounts operations.
- A chartered accountant with skills in financial analysis receives a salary of 8.5 to 8.8 lakh.
- A chartered accountant working as a financial advisor receives a salary of 8.5 lakhs to 8.75 lakhs.
- A chartered accountant with skills in financial reporting receives a salary of 8.2 Lakhs.
- A chartered accountant with experience in SAP receives a salary between 8.0 to 8.25 lakhs.
- A chartered accountant with skills in auditing receives a salary of 7 to 7.5 lakhs.
- A chartered accountant working as an account manager receives a salary of between seven lakhs.
- A chartered accountant with skills in tax consultation receives a salary of around 7.10 to 7.25 lakhs.
Final Words:
Some qualifications are service-oriented, and some qualifications are commercial. The job of an IAS officer and chartered accountant differ as the first role is a pure service, and the latter is associated with a commercial one. From a monetary perspective, an IAS officer earns less than a chartered accountant. ICAI is constantly working to improve the standards and ethics of a chartered accountant. The latest changes in the syllabus and training model of the CA course are preparing a chartered accountant for the dynamic business market.
