The aim of the Institute of Cost and Works Accountants of India is to meet the rising global demand for quality cost management by building on and regulating Cost Accountancy in India. ICWA opens up a world of opportunities for aspirants in fields like management and consultancy.

The article here is aimed at providing you with the list of salaries in store for individuals with ICWA certification, with variations based on field of work or industry, work experience, skills and so on.

ICWA Salary by Job

Job Average Salaries(per annum)
Chief Financial Officer ₹ 1,795,997 – ₹ 6,853,512
Cost Accountant ₹ 118,149 – ₹ 800,000
Internal Auditor ₹ 150,000 – ₹ 987,342
Finance Manager ₹ 563,739 – ₹ 1,534,429
Assistant Finance Manager ₹ 293,433 – ₹ 875,857

Salary of ICWA by Industry

The trends in pay reflect major variations with differences in the types of industry that individuals with an ICWA certification are working for. While your skills will influence your choice of industry in a major way, it is advisable to make your choice a little flexible and at least explore your chances in one or two industries which are not really your first choices. Here is a list of remunerations offered in leading industries:

Industry Average Salaries(per annum)
Banking ₹ 530,000
Information Technology or IT ₹ 1,017,369
Consultancy ₹ 712,244
Manufacturing and Distribution ₹ 884,695
Telecommunications ₹ 1,300,000
BPO or Business Process Outsourcing ₹ 498,453
Financial Services ₹ 400,000

ICWA Salary Based on Degrees

Your academic qualification will determine the way your pay structure will be designed. However try to find out what kind of influence your degree will wield on hikes, benefits and other perks. Here is a glimpse of the average salaries fetched by different degrees earned by individuals:


Degree Average Salaries(per annum)
Master of Business Administration or MBA ₹ 121,084 – ₹ 2,936,142
Bachelor’s Degree ₹ 236,818 – ₹ 2,421,565
Bachelor of Commerce, Commerce Economics ₹ 210,000 – ₹ 3,000,000
Master of Commerce or MCom ₹ 587,000 – ₹ 1,600,000
MBA or Master of Business Administration , Accounting, Finance ₹ 450,000 – ₹ 1,650,000
Bachelor of Commerce ₹ 124,516 – ₹ 1,610,731
Bachelor of Commerce, Accounting and Finance ₹ 292,332 – ₹ 2,153,676
Bachelor of Commerce/BCom, Finance ₹ 243,000 – ₹ 2,200,000
MBA or Master of Business Administration , Finance ₹ 98,920 – ₹ 5,526,606

Salary of ICWA based on Skills

Skills Average Salaries(per annum)
Accounting ₹ 828,012
Microsoft Excel ₹ 534,952
Account Management ₹ 489,796
Financial Reporting ₹ 900,000
Financial Analysis ₹ 710,000
Microsoft Office ₹ 554,811
Microsoft Word ₹ 460,000
Accounts Payable ₹ 614,627
Senior Financial Management ₹ 2,195,455

Salary of ICWA by Experience

The list of salary variations drawn on the basis of experience in respective fields can help you compare your current pay with that mentioned here as well:

Experience Average Salaries(per annum)
Less than a year ₹ 291,632
1-4 years ₹ 422,151
5-9 years ₹ 732,025
10-19 years ₹ 1,149,211
20 years and more ₹ 2,904,452

ICWA Salary by Cities

The costs of living in different cities play a crucial role in the preparation of pay structures of ICWA in India. Here is more:

Cities Average Salaries(per annum)
Hyderabad, Andhra Pradesh ₹ 530,000
Bengaluru, Karnataka ₹ 915,615
Pune, Maharashtra ₹ 515,000
Mumbai, Maharashtra ₹ 813,892
Gurgaon, Haryana ₹ 1,099,420
Chennai, Tamil Nadu ₹ 780,000

*Salaries are subject to change without notice.