One becomes a qualified Chartered Accountant after he or she passes the CA Foundation exam, CA Inter exam and undergo 3 years of training and then CA final exam, but you can attempt for the CA final exam after 2.5 years of training.

Before we get into the salary details of a CA, you may be wondering how much you might earn during your articleship period.

Stipend during Articleship

According to the current market practice, in the beginning of your articleship, minimum stipend is around Rs. 3000 – 6000  per month and the maximum stipend is around Rs. 10,000 – 15,000 per month. After a year of training your stipend will increase accordingly with what you have been earning the past year.

Salary of a CA – Employment & Practice

There are immense opportunities for a Chartered Accountant in private as well as public sectors. Government organizations are at the same pace as private firms when it comes to job profiles.

In the beginning one can expect to earn an average salary of Rs. 25,000 – 40,000/month. After 3 or 4 years of work experience one can earn a salary of Rs. 50,000 – 55,000/month in the same company. If you change companies you can expect around Rs. 60,000 – 65,000/month. This salary will then increase upto Rs. 70,000/month after 5 years and 1.5 lakhs/month after 10 years.

If you go for practice, you need that ambition, resolution to take risk and to withstand initial losses. Only after 4 to 5 years you will be able to earn a reasonable income like in employment. A regular flow will need to be sustained after 8 to 10 years. When you reach 10 years you will have effortless growth.

Which is the right pathway ?

If you feel you can’t wait for 5 or 6 years, have personal responsibilities and cannot afford the initial loss then your best path is to go for employment. Compared to practice you will have better job protection in employment whether the business is in recession or booming but once you start earning, you cannot go beyond a level because of scale of pay.

Sky is the limit when it comes to earning if you are practicing. The more clients you get, the more you deliver you will be earning more than those in employment.

At the end you need to decide what is it you want and where you want to see yourself in the future, it all depends where your passion lies!