Accounting Career Scope: Jobs, Placements, Salary 2023, Top Recruiters
Parul ThapaSenior Executive Content
Accounting career in India offers a robust and dynamic pathway with diverse opportunities across various sectors. With the country's rapid economic growth, the demand for skilled Accounting has surged, encompassing roles in auditing, taxation, financial management, and consulting.
Accounting career provides various job opportunities such as Accountants, Senior Accountants, Chief Revenue Officers, Financial Analysts, etc. The Accounting salary offered at entry-level positions ranges between INR 2 - 4 LPA, for mid-level profiles INR 4 - 7 LPA and for senior-level profiles INR 7 - 12 LPA.
Accounting graduates can either go for jobs or choose to pursue further options such as CA, CS, CPA, CFA, MBA in Finance, CMA, Diploma in Taxation, etc. The top recruiters where candidates can kickstart their Accounting career are KPMG, Deloitte, ICICI, HDFC, Mahindra, Reliance and so on.
The popular colleges that offer Accounting courses are NM College of Commerce, St. Joseph’s University, Mithibai College of Arts, Chandigarh University, Kishinchand Chellaram College, etc.
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- Accounting Career: Quick Facts
- Top Career Profiles in Accounting Career
- Emerging Trends in Accounting
- Accounting Scope in India: Jobs, Salary and Further Education
- 4.1 Competitive Exams After Accounting
- 4.2 Courses after Accounting
- 4.3 Accounting Top Recruiters
- Best Accounting Colleges for Placements
- Accounting Career FAQs
Accounting Career: Quick Facts
- According to a survey report by ACCA, 96% of Indian companies are planning to hire Finance or Accounting staff in 2024, indicating a strong demand for Accounting professionals among Indian employers.
- In India, Accounting professionals can work in public and private enterprises, government agencies, and multinational corporations, or start their own practices.
- The interest in hiring professional Accountants among Indian firms exceeds the global average of 83%, showcasing the growth potential of India’s job market.
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Top Career Profiles in Accounting Career
The evolving Financial regulations and adoption of global accounting standards further enhance the scope and relevance of this profession, making it a lucrative and fulfilling career choice.
Candidates can check the popular job profiles Accountant course graduates can opt for in the table below:
| Job Profiles |
Description |
Average Salary |
|---|---|---|
| Accountants |
Accountants play a crucial role in ensuring the financial health and compliance of businesses by meticulously analyzing, reporting, and managing financial records. |
INR 3.3 LPA |
| Senior Accountants |
Senior Accountants are responsible for overseeing the financial activities of a company, ensuring accuracy in financial reporting, and providing strategic insights to support business decisions. |
INR 5.3 LPA |
| Chief Revenue Officers |
Chief Revenue Officers are responsible for driving revenue growth, overseeing sales and marketing strategies, and ensuring alignment across all revenue-generating departments within an organization. |
INR 75 LPA |
| Financial Analysts |
Financial Analysts evaluate financial data, conduct market research, and create forecasts to help businesses make informed investment decisions and develop strategies for financial growth. |
INR 6 LPA |
| Tax Policy Analysts |
Tax Policy Analysts evaluate and develop tax policies, analyze their economic impacts, and provide recommendations to government bodies and organizations to ensure effective and equitable taxation systems. |
INR 5.7 LPA |
Note: The average salary has been taken from Ambitionbox.com.
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Emerging Trends in Accounting
Emerging trends in accounting reflect the evolving landscape of business, technology, regulations, and global economic shifts.
Here are some key trends that are currently shaping the field of accounting:
- Technology and Automation: The integration of advanced technologies such as artificial intelligence (AI), machine learning, robotic process automation (RPA), and blockchain is revolutionizing accounting processes.
- Data Analytics and Business Intelligence: There's a growing emphasis on leveraging big data and analytics tools to derive meaningful insights from financial data.
- Cloud Computing: Cloud-based accounting software platforms are becoming mainstream, offering real-time access to financial data, improved collaboration among stakeholders, scalability, and enhanced security features.
- Regulatory Changes and Compliance: The regulatory landscape is constantly evolving, with new accounting standards, tax laws, and reporting requirements being introduced globally.
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Accounting Scope in India: Jobs, Salary and Further Education
Accounting is the profession, as well as a process of recording, comparing, analysing, summarising, and reporting financial transactions. The Accountants, are professionals who are responsible for these tasks. In simple words, Accounting is an organised way to keep records of business and financial transactions and accountants prepare and organise these financial and tax documents.
Accounting students get a variety of specialities to choose from, the four majors being Public Accounting, Management Accounting, Governmental Accounting, and Internal Auditing.
The variety of specialities offers a large scope and opens opportunities for candidates in the following industries:
| Key Industries |
Details |
|---|---|
| Finance Industries |
There are various lucrative job roles in this industry for both fresher as well as experienced accountants with the responsibility for financial audits, bank statement reconciliation and ensuring accurate financial records. |
| Insurance |
Assistant Manager, Associate, Executive, Sr. Executive, etc are the accountant’s position in this industry that shoulders a lot of responsibilities. |
| Banking Sector |
Bank accountants are responsible for overseeing daily transactions to balance books at the end of the day. |
| Corporate Sector |
Accountants in this sector mainly specialise in business and are responsible for preparing financial documents, monthly budgets, managing cash flow, expenditure, etc. |
| E-Commerce |
E-Commerce performs a range of tasks for the e-commerce business. It includes gathering, organising, evaluating, and reporting a business’s financial data. |
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Competitive Exams After Accounting
Once the Accounting degree is pursued, there are several competitive exams that candidates can consider depending on their career goals.
Here are some prominent ones:
- RBI Grade B Officer
- SBI PO
- SBI Clerk
- IBPS Clerk
- IBPS PO
- LIC AAO
- UPSC CSE | IAS Exam
- SSC CGL exam
- RRB NTPC
Courses after Accounting
There is a steady yet assured growth of an accountant over the progression of their career and the highest growth can be seen during the middle to late career period.
However, if a candidate wishes to pursue other courses after Accounting, they can check the table below for the details:
| Courses |
Duration |
|---|---|
| Chartered Accountancy (CA) |
5 years |
| Company Secretary (CS) |
3-5 years |
| Certified Public Accountant (CPA) |
12-18 months |
| 2 years |
|
| Cost and Management Accounting (CMA) |
3 years |
| MBA in Finance |
2 years |
| Diploma in Taxation |
1 year |
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Accounting Top Recruiters
Large corporations across various industries, financial institutions, government agencies, and nonprofit organisations also recruit Accounting talent. These recruiters seek candidates with strong technical skills, professional certifications (such as CPA or ACCA), and capabilities in emerging areas such as data analytics and technology-driven accounting solutions.
Candidates can check the table below to see the list of top Accounting recruiters in India
| Top Accounting Recruiters |
|
|---|---|
| PricewaterhouseCoopers |
KPMG |
| Deloitte |
ERNST & Young |
| Grant Thorton |
Maxim Liberty |
| Capactix Business Solutions |
Shoolin Consultancy |
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Successful candidates often possess a blend of technical expertise, critical thinking abilities, and a commitment to upholding ethical financial reporting and compliance standards.
These are the skills recruiters look for in a fresh candidate whenever they come for recruitment purposes.
Candidates can check the table below listing out popular colleges offering the highest median salary to candidates after the Accounting course.
| Accounting Colleges |
Median Salary |
|---|---|
| 33.6 LPA |
|
| 30 LPA |
|
| 26.7 LPA |
|
| 18.08 LPA |
|
| 14.8 LP |
|
| 14.7 LPA |
|
| 14.02 LPA |
|
| 10 LPA |
|
| 9.22 LPA |
Note: This information is sourced from the official website/ media reports/NIRF website and may vary.
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Accounting Career FAQs
Q. Is Accounting a good career?
A. Yes, an Accounting career can be a highly rewarding career for those with a knack for numbers and meticulous attention to detail. An Accounting career offers stability, as every organization requires accounting professionals to manage finances and ensure compliance with regulations.
Additionally, the field provides opportunities for career advancement and specialization, such as in auditing, tax accounting, or financial analysis.
Q. What is Accounting as a career?
A. Accounting as a career involves the systematic recording, analyzing, interpreting, and summarizing of financial transactions of an organization. Accountants play a crucial role in ensuring the accuracy of financial records and compliance with laws and regulations.
They prepare financial statements, assess financial operations, and provide insights to management for making informed business decisions.
Q. How much does CA earn per month?
A. The earnings of Chartered Accountants (CAs) in India can vary widely depending on factors such as experience, location, size of the firm or organization, and specific industry.
Here's a general overview based on different levels of experience:
- Entry-level: INR 30,000 - 50,000
- Mid-Level: INR 50,000 - INR 1 Lakh
- Senior-Level: INR 1 Lakh - INR 1.5 Lakh
Q. Who earns more, CA or CPA?
A. The average salary of a CA is INR 11.5 LPA, while that of a CPA is INR 6 LPA.
The earnings of Chartered Accountants (CAs) and Certified Public Accountants (CPAs) can vary based on several factors including geographical location, level of experience, industry, and specific job responsibilities.
Q. Do Accountants use Excel?
A. Yes, Accountants frequently utilize Excel as a fundamental tool in their daily work. Excel's versatility allows accountants to perform a wide range of tasks efficiently, including financial analysis, budgeting, forecasting, creating financial models, and preparing various financial statements such as balance sheets, income statements, and cash flow statements.
Q. What is the highest Accounting position?
A. The Chief Financial Officer is the highest Accounting position.
The Chief Financial Officer (CFO) holds a critical role within an organization, overseeing its financial operations and strategy. Reporting directly to the CEO or board of directors, the CFO's responsibilities encompass a wide array of financial management tasks. These include financial planning and analysis, risk management, financial reporting and compliance, strategic planning, and capital allocation.
Q. What are the pros and cons of a career in Accounting?
A. Here are some pros and cons of a career in Accounting:
Pros:
- Job Stability: Accounting is a fundamental function in all organizations, ensuring ongoing demand for accounting professionals.
- Career Opportunities: There are diverse career paths within accounting, including auditing, tax accounting, management accounting, and financial analysis, offering opportunities for specialization and advancement.
- Competitive Salary: Accountants often earn competitive salaries, particularly as they gain experience and professional certifications.
- Skills Development: Accounting develops strong analytical, numerical, and problem-solving skills, which are transferable to various industries.
Cons:
- Long Hours: Especially during busy periods like tax season or financial reporting periods, accountants may need to work long hours to meet deadlines.
- High Pressure: Accuracy and attention to detail are critical in accounting, leading to high-pressure situations where errors can have significant consequences.
- Continual Learning: Accounting standards and regulations frequently evolve, requiring ongoing professional development and staying updated with changes.
- Routine Tasks: Some aspects of accounting involve repetitive tasks, which may become monotonous over time.
- Client Demands: For accountants in public practice, managing client expectations and demands can be challenging.
Q. What skills are essential for a successful career in Accounting?
A. Several skills are essential for a successful career in Accounting such as :
- Technical Accounting Knowledge
- Analytical Skills
- Attention to Detail
- Problem-Solving Skills
- Ethical Judgment
- Communication Skills
- IT Proficiency
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Dec 4, 2024
Student Forum
Anything you would want to ask experts?Answered Yesterday
Yes, Christ University offers a B.Com (Professional) program, which integrates opportunities for professional courses like the Company Secretary (CS) program. This course is tailored to enhance students' prospects in pursuing professional certifications while completing their undergraduate studies.
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Beginner-Level 1
Answered 3 days ago
The infrastructure, instructor availability, and admissions policies of Himalayan Institute of Technology (HIT) generally determine how many students are permitted to participate in the B.Com. in Computerized Accounting program. The majority of institutions have a fixed intake capacity to maintain h
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Contributor-Level 6
Answered 4 days ago
- School Resources:
- Teachers: Your school teachers are an excellent source for practice papers, previous year papers used in school, and their own prepared tests.
- School Library: Some school libraries keep a collection of previous years' papers.
- Coaching Centers:
- Materials: If you attend a coaching cente
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Answered 6 days ago
Technically, the interested candidate should start preparing for it in class 12th. We all know that it is one of the toughest exams to crack. First of all know about the syllabus in detail, prepare a study plan. Start with Aptitude.
Please try to appear for as many practice test as possible.
Guide-Level 13
Answered 2 weeks ago
Yes, you can qualify to take the CPA exam if you have an accounting degree from San Francisco State University (SFSU):
Undergraduate program
The accounting programme at SFSU offers courses that prepare students for professional certifications like the CPA. Students should consult an accounting adviso
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Contributor-Level 8
Answered a month ago
CPA is the highest course in Accounting.
The Certified Public Accountant course is a globally recognized professional certification for accounting professionals, primarily offered by the American Institute of Certified Public Accountants (AICPA).
CPA course is considered one of the highest credential
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Contributor-Level 10
Answered a month ago
HR College of Commerce and Economics, Kishinchand Chellaram College, Narsee Monjee College of Commerce and Economics, Mithibai College, SIES College of Commerce and Economics, K.P.B Hinduja College of Commerce, and Reena Mehta College.
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Beginner-Level 5
Answered a month ago
CCT College Dublin's Master's admission requires:
NFQ Level 8 honors degree in Business/related field
Non-cognate disciplines considered with 3+ years work experience
RPL application for non-graduates with 5+ years experience
English proficiency (B2+ CEFRL)
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Beginner-Level 5
Answered a month ago
International accounting can be categorized into three levels:
- Fundamental Level: This level involves understanding the basic principles and concepts of international accounting standards, such as the International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAA
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Contributor-Level 10
Answered a month ago
Individual companies determine the specific qualifications required for a CFO position. Applicants with a CMA certification may have an advantage over those without, assuming all other qualifications are comparable. However, passing the CMA exam does not guarantee a CFO position. Other factors, such
Contributor-Level 10
Answered a month ago
The CMA exams in India are held twice a year, in June and December. Candidates who wish to appear for the June exam must complete their registration by January 31st of the same year. For those planning to take the December exam, the registration deadline is July 31st. These deadlines allow the exam
Contributor-Level 10
Answered 2 months ago
Students pursuing BCom in Accounting at Reva University are taught general and specialisation-specific subjects. The general subjects include language subjects, skill development courses, and other subjects related to economy, management and commerce. The specialisation-specific subjects included in
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Contributor-Level 10
Answered 2 months ago
Here’s a list of the main subjects taught in *BCom in Accounting and Commerce*:
- Financial Accounting
- Cost Accounting
- Corporate Accounting
- Management Accounting
- Business Economics
- Business Law
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Contributor-Level 10
Answered 2 months ago
The annual salaries after completing a BCom in Accounting and Commerce in India can vary significantly depending on experience level, qualifications, job roles, and the industry. Here’s a breakdown based on different career stages:
- Entry-Level: INR 2.5 - 4.5 LPA
- Mid-Level: INR 5 - 8 LPA
- Senior-Level: I
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