Practice or Job Decision and Salary for Chartered Accountants

Recently Results for Chartered Accountants Final exams were declared. After which we started getting one question from many Fresher Chartered Accountants. Whether I should take up service / Job in Industry or I should start the Practice ?

It's a dilemma many face after passing their CA exams. There is no simple answer to it. It depends upon many things. Important of all is ones liking and inherent skills. You get success in things which you like doing. Do want to work for somebody or work for yourself ?

Taking up CA Practice

Let's first discuss about Pratice - Starting CA Practice won't need you more Capital. Biggest Investment is office, which you can take on Rent. Initially you can manage everything on your own and dnt really need manpower.

Initially you will need to meet people. Attend every CPE study circle meetings. Tell everyone you have started your practice. Declare on Social Media. Attend business seminars. Your family and friends will be your first clients.

Initially don't take unnecessary risks & take up wrong assignments. Dont sign wrong things. Don't forget ethics. Don't compromise on your remuneration and quality. At the same time if you a good work, dnt let it go for money. Be patient. You will get your due. Go slow and steady.

Don't compare with your colleagues in Industry. Offcourse they will earn better and steady income. You are in different league and there is no comparison. Don't get disheartened if you earn less. Stick to it. It's a long term game.

Analyse which work you enjoy. Which area you may decide to specialise in. Develop communication and interpersonal skills.

Dress well. Print nice visiting cards. Have a good intro ready, Practice it well. Create a nice profile which you send out if anyone inquires. Try to have a website and corporate email id.

Salary for Fresher CA in India

Most imporant question for fresher CAs is how much salary they will get if they take up a job. We will analyse in detail what are fresher ca salaries in India today. There many options to take up job with. They can join Big4, small firms, medium firms or take up a job in Industry. Following are salary details for various options.

CA firm (Small) - Rs. 3.5 - 5 Lacs Per Annum

CA Firm ( Mid Size) - Rs. 5.5 to 6.5 Lacs Per Annum

BiG 4 - Between Rs. 7.5 to 9 Lacs Per Annum ( Depends on the team and the revenue generated by the team. Example - One of our known student is in Financial DD and his base salary in EY was 9 Lac and another known student in stat audit - his base salary was 7.5)

Industry - between Rs. 8-10 Lacs Per Annum