CPA Salary in India - Job Opportunities, Roles & Responsibilities

What is CPA?

A professional is considered a Certified Public Accountant (CPA) if they have obtained their licence from one of the 55 state accountancy boards in the United States that are all members of NASBA (National Association of the State Boards of Accountancy) after clearing the CPA exam. Each of the state boards has the authority to grant the CPA certification and licence so, candidates should check their respective CPA eligibility requirements. Completing a CPA opens doors for various career opportunities in finance.

CPA Salary in India - Job Prospects

India is rising as a global superpower with many US-based companies especially the Big 4 audit firms namely Deloitte, Ernst & Young, KPMG and PriceWaterhouseCoopers, opening their offices in India. Similarly many Indian multinational firms too have their offices in the USA. This phenomenon has engendered a demand for accounts professionals who are well aware of the US accounting laws and US GAAP.

The USA is the world’s largest economy and many international companies need professionals who can understand US local laws and regulations and guide the companies in staying on the right side of law when they operate in the US economy. It is for this reason that the CPA salary in Big 4 in India is on the rise.

The CPA course imparts skills in four core areas through the CPA syllabus namely

• Financial Accounting and Reporting

• Auditing and Attestation

• Business Environment and Concepts

• Regulation

CPA Salary in India - Job Profiles

After successfully completing the CPA exam, a professional can take many job profiles. The US CPAs understand the GAAP in great detail and are thorough with the accounting practices in the US. They are commonly hired in companies that are operating in the US and have to regularly deal with US regulators.

Some of the popular job profiles for a CPA are given below:

• A financial consultant who advises clients in areas of financial and management accounting.

• Tax consultant providing advisor services in tax matters

• Auditors in firms such as the Big 4

• Offering consultancy services for regulatory and risk compliance

• Working in the finance department as a Finance manager, finance head or CFO of the company.

CPA Salary in India - Roles and Responsibilities

Following are some of the major roles and responsibilities of a CPA which reflect why CPAs are hired and justify the attractive CPA salary in India.

• CPAs carry out activities like physical or technical bookkeeping, financial planning, advice, performing government audits, recording taxes, and drafting financial policy

• They monitor the organisation's financial management and budget and come up with plans to conserve capital

• They suggest ways to improve the handling of the tax effects of company decisions

• CPAs serve as advisors for the protection of the firm’s assets, drafting employee compensation policy and advising on serving the best interests of the company

• They prepare and analyse the financial statements of the company including the ledgers and balance sheet and determine the true financial position of the company.

• CPAs advise adopting the latest methods in financial reporting as per changing trends and regulations

CPA Salary in India - Average Salary

CPA salaries are influenced by a variety of things. Some of the key variables that affect the CPA income are the years of experience, the organisation, the country where the professional is located, the job profile and expertise.

As per the data obtained from an AICPA survey, the average annual salary of a CPA in the US is $122000. The average rate of bonus is around 11% with around 68% of the CPAs expecting to receive bonuses from their companies. The average growth rate of salary was 4%.

CPAs in India can work in a variety of job roles such as

• Account Executive: The daily administration of the organisation's cash flow is one of the main responsibilities for an account executive. This involves initiating requests, keeping track of transactions, keeping an eye on spending, and reporting to management for financial analysis.

• Senior Account Manager: The senior accounting manager oversees numerous accounting tasks In order to maintain compliance with generally accepted accounting principles, business regulations, and external audits.

• Finance Manager: They oversee the company’s finances. Financial managers produce financial reports, oversee investment activities, and establish plans to meet the organisation's long-term financial objectives.

• Financial Analyst: A financial analyst undertakes a detailed inspection of a company’s financial statements. This helps in taking investment decisions and creating financial models for predicting future financial performance. A financial analyst must also take into account certain broad factors such as macroeconomic trends and company objectives. They work closely with the accounts department to evaluate the worthiness of any investment.

These positions are present across the organisation’s hierarchy. As per data from AmbitionBox, a CPA salary in India ranges between Rs. 1 Lakh - Rs.3.2 lakhs per annum. The CPA average salary in India is around Rs. 2.2 Lakh p.a However, with experience and skill the CPA salary per month can increase. The Ambition box data for Big 4 accounting firms shows that a senior associate at one of the Big 4 accounting firms can expect to make between 5.6 lakhs to 12 lakhs pa. A senior consultant can earn anywhere between 10 lakhs to 28 lakhs per annum. With seniority, the CPA salary in India can see a drastic increase. The data from Ambitionbox shows that an associate director in a Big 4 company can earn anywhere between 28 lakhs to 50 lakhs per annum with a median wage of around 37 lakhs per annum.

The data from payscale shows that the average CPA salary in India is close to Rs.8 Lakhs per annum.

Also, if a professional has a CPA in addition to another certification such as CA or CFA, then the salary of the CPA professional will be even higher.

Job Profiles and CPA Salary in India