Financial Capital of the country, employees large number of CAs to their city for managing and analysing the funds of respective corporates. Many financial institutes and intermediaries have their hand offices or financial uint in Mumbai. These finance institutes and intermediaries employee number of CAs. This increases the demand of CAs in Mumbai and salary packages of CA as well. The Course structure of CA is designed in such a manner that entitles them to handle various tasks of corporate management and accountability like
National average salary of CA is Rs 6 lakh annually. Whereas, Delhi is providing similar salary packages to CA. But, Mumbai pays higher salaries than Delhi. Mumbai offers average annual package of Rs 6.13 lakh. They offer Rs 15 Lakh annually maximum and Rs 3 lakh minimum to CA. Rank Holders in CA get higher salary packages and clearing in first attempt also makes difference to salaries.
- Rank holders usually get more than Rs 20 lakh annually.
- Students who have cleared the CA in his first attempt with both group together are entitled for package above Rs 12 lakh.
- Both groups cleared separately and in first attempt, then they are eligible for the package of Rs 8 lakh annually.
Mumbai is one of the top best cities for spending on CA with Bangalore and Gurgaon. Main reason for this is presence of large number of financial intermediary and institutes which require financial analyst , managers, tax compiler, auditor etc. Big corporates and MNCs are the money spinners for CAs as they pay thick salary packages and they always look for the finest brains.
Salary of Mumbai’s CA in MNCs
MNCs spend more than the salary they are getting according to industry’s standard. These MNCs generally employ CA with annual package of Rs 8 lakh. This makes CAs to approach MNCs for good jobs. They are also provided with other fringe benefit and profit sharing. Salaries of some of the Big MNCs in Mumbai are:
Delicates salary bracket is Rs 5.5 lakh to Rs 8 lakh. Ernst & Young and ICICI provide salary in the range of Rs 5.34 lakh to Rs 9.5 lakh and Rs. 5.5 lakh to Rs. 8.5 lakh, respectively. For freshers, MNCs offer Rs 5.8 lakh annually. As the experience increases, their salary packages also increase. With different year of experience salary of CAs in Mumbai is:
- 0-5 years of experience: Rs 6 lakh
- 5-10 years of experience: Rs 10 lakh
- 10-20 years of experience: Rs 14 lakh
- More than 20 years of Experience is Rs 24 lakh
Salary of Mumbai’s CA with other city comparison
Mumbai being the financial capital has many finance companies, intermediary and institutes. This increases the requirement of CA for handling these companies. Although, Gurgaon (Delhi NCR) is providing higher packages to CA but Mumbai has been paying the highest salary packages consistently to CAs. Since last decade, Bangalore has also been paying thicker salary packages. Ranking cities on the basis of highest salary, we conclude that Mumbai is the fifth highest payer to CAs after Gurgaon, Bangalore, Hyderabad and Chennai. Nevertheless, Mumbai is paying above national average. Salary of CA in different cities of India is shown in the following table and can see the average annual salary of CA in different cities.
|City||Annual Salary Band|
|Delhi||Rs 2.4 lakh to Rs 12 lakh|
|Mumbai||Rs 3.5 lakh to Rs 12 lakh|
|Chennai||Rs 3.4 lakh to Rs 12 lakh|
|Pune||Rs 3 lakh to Rs 10 lakh|
|Gurgaon||Rs 4.5 lakh to Rs 17 lakh|
|Kolkata||Rs 2.5 lakh to Rs 12 lakh|
|Ahmedabad||Rs 2 lakh to Rs 10 lakh|
|Hyderabad||Rs 2.9 lakh to Rs 17 lakh|
|Bangalore||Rs 3.75 lakh to Rs 15lakh|