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.
Thanks naukrihub for helping me understand about ICWA and its salary
is campus placement by the icwai institue is for only freshers or it is also available to experienced person who are about 40 years of age
will a person completing his icwa degree at the age of 40 years can get some job in the same field. if yes how