Salary is the question that makes the studying of the CA professional course interesting. Big 4 companies and MNC companies offer the highest salary to the right candidate as there is a growing demand for chartered accountants in India. The data from previous records show that CA candidates get a maximum salary of 70 lakhs CTC. For a foreign location like Nigeria and Hong Kong, the CA professionals receive a high salary. The big 4 companies mentioned in the job description that they prefer a candidate who has cleared the interview with 3 attempts. Companies like HSBC, RIL, ITC, Vedanta group, Kodak Mahindra Bank, Big4 companies, and ICICI bank select candidates with pass marks. They are not particular about rank holders. About the number of attempts, the companies take candidates with three attempts maximum.
Oman international offered 70 lakhs CTC to the CA fresher through campus interview happened in the 2010 year. The data from salary packages show that Bharti Airtel offered a high salary of 21.50 lakhs. The highest salary ranges from 2012 year for the rank holders go as 2012 with 25,50,000, 2013 with 30,70,000, 2014 with 30,30,000, 2015 with 35,20,000 and 2016 with 41,60,000. In the initial process, the number of attempts, marks, and rank play a key role but after getting placed the performance metrics become the deciding factor. Salary will be based on profile, based on skills, and based on experience. This blog talks about the difference in the job offer for a rank holder and non-rank holder. Let me discuss this in detail.
Benefits of getting rank in CA Final
All India CA level rank holders get international offers with high salaries. 1st, 2nd, and 3rd rank holders get a high salary with 61 lakhs. Kumar Mangalam Birla is a personality with an inspirational story as a chartered accountant. He is the Chairman of the third-largest business house, Adithya Birla group. He had started his professional journey with B.com, CA, and MBA from London. He started his professional life at the age of 28. TN Manoharan is a famous personality who holds the honorable position of chairman in Canara Bank. In the year 2010, he is honored with the Padma Shri award for his services. In the year 2007 Naina Lal Kidwai received the Padma Shri award.
The skills which MNC companies predominantly expect from the rank holders are analytical, reporting skills, and compliance skills. The skills which require high-level payment are financial analysis, budget management, management auditing, strategic accounting, financial reporting, and management auditing. The hyper-level of salary for a CA with no experience and with 10 years of experience go as 7 lakh CTC and 20 lakh. The finance officer takes care of the financial performance with tasks such as liquidity, return on investment, and reporting. They get the highest salary of 35 lakh per annum. Next to them, the second position is for the chartered accountant who gets 7.25 lakh per annum. The business analyst gets an appropriately 4 lakh salary. ICAI has international networks with universities like Australian universities and Dubai universities.
Job offer for a CA non-rank holder
Non-rank holders need to do mind preparation with the key areas to be focused on. The following are the main points to raise the standard to the evolving expectation of the job industry.
- Marks and exposure to the practical world are important to understand the chartered accountant role in the MNC companies.
- The article ship training matters a lot as it increases the confidence and the practical knowledge of the students. Join the best company and get exposure to multiple subjects of CA like auditing and taxation etc. If the article ship training is with a single domain like the banking industry then the exposure to multiple industries gets reduced.
- The rank holders and first attempt clearing students tend to be in the same category. They both get the same level of salary.
- The first job requires a good impression with fewer attempts. But once if you have acquired the experience then the performance matters than the CA marks and attempts. To overcome the stress which comes from the number of attempts, be courageous and goal-driven.
- icai.org, www.placementindia.com, www.cajobportal.com, www.caclubindia.com, and www.naukri.com are the top six portals for job search which is especially meant for Chartered accountants.
- A chartered accountant can work in big or small companies. The non-rank holders get the offer from investment companies, finance companies, IT companies, and fund management companies.
The 2020 year is a challenging year for CA students. Students must strive hard to get high scores in the CA exams. As there is less chance to take-up extra classes, students can do group discussions through video calls and Google meet. Plan your reading activities in different places. For example, during the lockdown period take the online classes in the study room and not in the bed where you sleep. This seems to be a simple idea but it works with the anxiety level. This will help to concentrate more on the studies. Read the new topics when your brain is fresh and read the old topics when your brain is dull. Follow these techniques to be successful amidst problems. Here there is no point in thinking with diplomatic ideas. Take it practical and work hard to achieve your goals. The negative marking is 0.25 percent for CA exams. Some of the unspoken rules from the rank holders imply that CA exams require confidence. The dream of achieving big takes the student to success.