CA or Chartered Accountancy is a highly paid profession with more than 4 lakh candidates appearing for the CA exam. Companies such as Deloitte, Ernst and Young, Lodha & Co, BDO International, and SS Kothari Mehta & Co. are some of the big companies that hire fresher as well as experienced CA professionals across various positions in their companies. Professionals with a CA degree can earn around INR 9 LPA to 12 LPA depending on the years of experience gained. To become a CA or Chartered Accountant, students must pursue a CA Course which is divided into three levels. CA Foundation, CA Intermediate and CA Final are the three broad classifications of the course. The average CA course fee range from INR 50,000 – 1,50,000. The Average Salary for students clearing CA courses ranges from INR 8.50 LPA to 12 LPA. However, with gradual experience and knowledge the salary of a CA with more than 15 years of relevant working experience can go up to as much as INR 50 LPA and even more.
- How to Become a CA: Quick Facts
- Why Become a CA
- Unknown Facts about Chartered Accountants
- Steps to Become a CA
- Types of CA
- How to Become a CA in India
6.1 How to Become a CA After 12th
7.3 CA Final Course
How to Become a CA in India: Quick Facts
| Eligibility | 10+2 in any discipline, preferably Commerce followed by clearing the CA entrance exams |
| Job Sectors | Auditing, Finance sector, Taxation Advisory sector, Treasury function, and Public sector banks. |
| Average Salary | INR 9 LPA to INR 12 LPA |
| Highest Salary | INR 50 LPA & above |
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Why Become a CA
The process to become a CA is not an easy task, however, it is opted by a lot of students for the fact that becoming a CA promises one of the brightest career prospects and offers a stable job across various positions. Some of the crucial reasons supporting the fact of pursuing CA as a profession are listed below for your reference.
- International Benefits & Opportunities: The demand for CAs in the international market is at an all-time high right now. This is the correct option for candidates who’ve always wanted to live in a foreign country and build their careers there. Though there are several other professions that, if pursued, can help candidates settle abroad. But as per a report by ICAI, more than 14% of 2 lacks CA graduates have been placed and settled abroad. CAs are in high demand in the international market, just as they are in India.
- Salary Benefits: The average salary of a qualified CA having a substantial experience of 5 – 8 years is INR 11.50 LPA. However, candidates with substantial knowledge and skills in business along with multiple sources of income can earn more than the average salary. The best part about this profession is there is no downfall in career income-wise.
- Flexibility: CA candidates will have the opportunity to work in a variety of career roles after completing CA courses. One can even change their employment role later on in this field if they choose. Candidates with relevant and substantial years of experience can move on to become an Entrepreneur. Chartered Accountants are in high demand in various fields these days, because of which the money offered by numerous organisations is also comparatively high compared to other professions.
- Stability: CA is one of the safest occupations on the planet. Chartered Accountants are required by both large and small businesses. A fascinating fact about the CA profession is that Chartered Accountancy is regarded as one of the most recession-resistant professions not only in India but also in other countries such as the United Kingdom. Choosing Chartered Accountancy can be both rewarding and exciting simultaneously.
- Learning Scope: Chartered Accountancy is not just about numbers, contrary to popular belief. The curriculum also helps applicants build a strong grasp of business, extensive knowledge of finance-related courses, and technical abilities. CAs may now adapt to and operate in nearly any industry with this type of training. The CA curriculum also provides an excellent foundation for those with an entrepreneurial spirit to establish their firm.
Unknown Facts about Chartered Accountants
Did you know that there are various perks of becoming a CA apart from the fact that they are paid a lucrative package. Some of the top amazing points of becoming a CA in India are discussed below,
- ICAI (Institute of Chartered Accountants of India), the premeire institute for becoming a CA does not follow any reservation system. Candidates across every caste and religion are selected on the basis of their meriut and credibility
- There is also no age restrictions to become a CA. Candidates across any age can choose to become a CA at any point of time
- Post the introduction of GST, Indian CA’s are highlighy valued as they are looked upon as tax experts to handle VAT across the Gulf countries such as Dubai, Qatar, Kuwait, Saudi Arabia and Abu Dhabi.
Steps to Become a CA
Candidates must follow certain steps that mark essential criteria in order to become a CA or Chartered Accountant. Discussed below are the 10 crucial steps for becoming a CA in India.
- After clearing class 12th board exams, candidates aspiring to become a CA must enrol themselves in CA Foundation courses
- After a brief study period of 4 months, candidates must appear for the CA Foundation exams
- After clearing the CA Foundation exams, candidates must enrol themselves for CA Intermediate courses
- Before the articleship begins, one must complete 4 weeks of an Integrated Course on Information Technology and soft skills (ICITSS)
- Candidates hereafter are required to complete the 8 months study period for CA Intermediate courses and appear for the CA Intermediate exams. There are 2 sets of exams, out of which candidates must clear at least 1 for proceeding to the next level
- After clearing CA Intermediate Exams and completing ICITSS, one must join 3 years of article training
- After this, they must clear the enrolling group for CA Intermediate Exam
- After clearing both groups, candidates must complete a 4-week of Advanced skills Course Technology and Softskills (AICITSS)
- Finally appear for the CA Final exams
- After clearing CA Final exams, candidates enrol themselves at ICAI to be designated as Chartered Accountants.
Types of CA
Candidates after completing a CA degree can look forward to a promising career after doing CA offering a varied scope across various sectors. The different job profiles after doing CA are mentioned below.
- Finance Manager: Finance Managers are one of the highest-paying jobs after completing a CA course. They have to oversee the financial health of an organization.
- Accountants: Their main role is to compile and prepare the financial records of a company, budget, and business plans, analyzing and examining the records.
- Taxation Consultant: A Tax Consultant has to consult their clients in making good decisions about tax-related issues and also help their clients in saving money.
- CEO: CEOs (Chief Executive Officers are the topmost job profiles one can become after completing the CA course. Their job role is to contact other companies and the board of directors to help in operating, developing, and managing the company to meet the company’s goal.
- Auditors: Auditing is a good career one can choose after doing a CA course. Auditors are in charge of reviewing the financial documents for accuracy with laws and regulations.
How to Become a CA in India
Despite the fact that becoming a CA can be a time-consuming process but candidates with sufficient diligence can look forward to making their career as a CA along. Discussed below are some of the key steps that can be followed right after clearing class 12th board exams to become a CA in India.
- School Level Preparation: Interested students must need to prepare after clearing class 12th board exams with an aggregate score 50% and above. If one is passionate to become a CA, they can apply for the course right after clearing 10th but they will not be eligible to sit for any CA entrance exams before they clear class 12th board exams. Candidates are also required to prepare for the CA CPT entrance exam
How to Become a CA after 12th
Candidates who wish to become a CA after 12th, have to clear the CA CPT Exam. If one can clear the CA entrance test, one will get a certificate from ICAI (Indian Chartered Accountants Institute). The course has 3 levels i.e., CPT (Common Proficiency Test); IPCC (Integrated Professional Competence Course); and FC (Final Course).
- Undergraduate Level Preparation: Students having an undergraduate degree can also apply for a CA course. They don’t need to sit for the CA CPT Test. Students who are from a commerce background need to score 55% at their undergraduate level. And students who are not from commerce backgrounds and do not have mathematics in their undergraduate degrees are required to score above 60%. Students having mathematics at their Undergraduate level need to score 55% marks to become a CA.
- Post-Graduate Level Preparation: Post-graduate students also can apply for CA courses, they don’t need to seat for CA CPT Exam. However, they must have a minimum aggregate score of 55% and above in Commerce or Mathematics. Students from Science and Arts backgrounds are also eligible to apply for CA courses. They must have a minimum aggregate score of 60% and above in their Master’s degree. Aspiring candidates can register for the course 9 months before the CA IPCC Exam.
CA Courses
Some of the top courses which can be pursued to become a CA are listed below for your reference.
CA Foundation Course
CA Foundation Course is for 4 months. Students need to register for the course after passing 10th exam and after passing 12th standard they are eligible to sit for CA CPT Exam.
- Admission Process: Admission to this CA Foundation course is done through CA CPT Exam. Students need to register for the course, then after passing 12th standard they can appear for CA CPT Exam
- Entrance Exam: CA CPT (Common Proficiency Test) is the entrance exam that must be cleared for studying CA Course from a recognized CA Institute
- Eligibility for Entrance: 12th standard passed out student in Science/ Commerce/ Arts with 55% marks
CA Intermediate Course
CA Intermediate Level course is for 2.5 to 3 years. After passing the CA Foundation course, one can apply for the CA Intermediate Course.
- Admission Process: Admission to this course is done through CA IPCC Exam
- Entrance Exam: Once you clear your CA Foundation course, you will be able to appear for CA IPCC Exam. The total marks of the CA IPCC Exam are 100 marks and out of that you need to score 40% marks
- Eligibility for Entrance: After completing the CA foundation course, you will be able to appear for CA IPCC Exam. Candidates who want to pursue the course after completing UG or PG, can come from the direct entry route method and also must clear the CA Intermediate Examination of ICSI or ICWA Examination
CA Final Course
CA Final course is for 2 years. After completing the CA Intermediate course, you can apply for CA Final Course.
- Admission Process: Admission to this course is done after the CA Intermediate level. Students need to secure 40% to study CA Final Course
- Entrance Exam: There is no entrance exam for CA Final Course. One can take admission to this course after completing the 2.5 years article ship and CA Intermediate level course exam
How to Become CA Abroad
A CA professional can get a job in any country because ICAI has MOUs signed with various countries which make it possible for CA professionals to start their career as CA abroad. But one needs to explore much or should have much experience in this field before going abroad.
How to Become CA in the UK
To become a CA in the UK, candidates need to complete their degree which is equivalent to a degree from the UK. To study ICAEW Chartered Accountants (Institute of Chartered Accountants in England and Wales), one must complete ACA (Associate Chartered Accountant), which is a globally recognized qualification.
Top Colleges for CA in the UK
| Institute Name | Course Fees (INR) |
|---|---|
| University of Bath, Bath, England | 41.66 L |
| University of South Wales (ICAEW), Wales, UK | 46.52 L |
| University of Strathclyde, Glasgow, Scotland | 28.18 L |
| University of Chester, England | 12.95 L |
| University of Exeter, England | 19.10 L |
| University of Warwick, Coventry, England | 27.49 L |
| Loughborough University | 21.33 L |
How to Become CA in the US
In the US, Interested students need to clear their undergraduate degrees, because the US, CPA (Certified Public Accountant) is a Post-graduate program. They must have educational or professional experience in order to pursue Post-graduation in CA in the US
Top Colleges for CA in US
| Institute Name | Course Fees (INR) |
|---|---|
| Harvard University, Cambridge, Massachusetts, US | 38.77 L |
| University of Michigan | 40.33 L |
| Stanford University, California, US | 13.81 L |
| University of Oxford, Oxford, England | 20.45 L |
| University of Pennsylvania, Philadelphia, Pennsylvania | 21.56 L |
| University of Illinois | 30.05 L |
| University of Notre Dame | 10.22 L |
| University of Southern California | 44.26 L |
| Indiana University | 46.90 L |
| Ohio State University | 41.71 L |
How to Become CA in Canada
Candidates aspiring to become CA in Canada must have a university degree along with the completion of the professional training program, which is considered a crucial prerequisite must to become a CA in Canada. The professional training program must be approved by a provincial institute of chartered accountants.
Top Colleges for CA in Canada
| Institute Name | Course Fees (INR) |
|---|---|
| Algoma University, Sault Ste. Marie, Ontario | 5.76 L |
| Durham College, Oshawa | 7.84 L |
| Sault College | 8.74 L |
| Laurentian University | 87,561 |
| Confederation College | 9.28 L |
How to Become CA in China
To become CA in China, candidates must complete a bachelor’s degree or equivalent to it from an Internationally recognized university. Tabulated below are some of the top colleges in China.
Top Colleges for CA in China
| Institute Name | Course Fees (INR) |
|---|---|
| Sun Yat-sen University, Guangzhou | 5.63 L |
| Xiamen University, Xiamen | 4.44 L |
| Tsinghua University, Beijing | 3.05 L |
| Shanghai University of Finance and Economics | 2.46 L |
| Renmin University of China, Beijing | 2.81 L |
| Zhongnan University of Economics and Law, Wuhan | 3.52 |
| Central University of Finance and Economics, Beijing | 1.81 L |
| Dongbei University of Finance and Economics, Dalian | 5.63 L |
| Hunan University, Changsha | 1.76 L |
Benefits of Becoming a CA
As a Chartered Accountant, one can gain much more profit. It is one of the richest jobs in the 21st century. Listed below are some of the benefits of becoming a CA.
- Good Salary Package: CA jobs are one of the most in-demand careers in the business market. The average starting salary of a CA ranges from INR 3.55 LPA – 5 LPA which can go up to as much as INR 30 LPA after gaining substantial years of experience of 8 to 10 years in this field. Chartered Accountants abroad can earn around INR 50 LPA - 75 LPA with a bonus per year.
- Job Security: One can survive in this field, only if they can struggle and have much potential to be a good CA. If one has the right set of skills and potential they can stay in the market field.
- Higher Studies: Learning is a lifetime process. And in CA as well candidates can pursue further studies after completing relevant degrees in CA courses. The courses that can be opted for after CA are Certified Financial Partner, Diploma in Taxation Law, Company Secretary, Chartered Financial Analyst, etc.
- Unique Experience: One can get experience in CA jobs. The work environment of CA is not just challenging but also exciting. As a CA you have to deal with fund management, finance, taxation, banking, etc.
Skills Required to Become a CA
The key skills essential for becoming a CA are tabulated below for your reference.
| Analytical Skills | Excellent Communication |
| Critical Thinking | Ability to accept failures |
| Discipline in Work | Problem-solving Skills |
| Interpersonal & Organizational Skills | IT Proficiency |
| Self Motivation | Business Awareness |
Salary of CA in India
CA jobs are very lucrative and the Salary of a CA is also attractive. Fresher or at first career, one earns around 6 -7 lakh per year and after having experience of 4 - 9 years, one will be able to earn 20 LPA – 30 LPA.
| Specializations | Average Annual Salary |
|---|---|
| Accountant | INR 4.50 L |
| Consultant | INR 9.62 L |
| Banker | INR 10.24 L |
| Finance Manager | INR 13.93 L |
| Taxation Consultant | INR 15.33 L |
| Auditors | INR 16 L |
How to Become a CA in India: FAQs
Ques. Is becoming CA tough?
Ans. Yes, It is tough to be a Chartered Accountant as most of the candidates prepare day and night to qualify the exam. Candidates need to clear the competition to become a CA.
Ques. How are the papers for the CA Entrance Exam?
Ans. The CA CPT paper is not that much hard and also not so easy. One needs to do practice more and should understand each topic to clear CA CPT Entrance Exam.
Ques. Is CA Course Certificate of India valid in any foreign country?
Ans. Yes, because India has signed MOUs with different countries across the world. Hence one can work in any country, like the US, the UK, and Australia after doing CA.
Ques. How much do I have to secure in CA CPT Exam in order to get admission to CA Foundation Course?
Ans. You need to score above 55% to study the CA Foundation course.
Ques. Can an Undergraduate student in Science apply for the CA course?
Ans. Yes, candidates are eligible for taking the CA course who are from the science background.
Ques. Do I have to appear for CA Entrance if I have a postgraduate degree?
Ans. No, You don’t need to appear for the CA CPT Exam. You will get admission to the course through the direct entry route method. You just have to study for CA IPCC Exams.
Ques. What is the maximum course duration in CA?
Ans. The course duration of the CA course is 5 years.
Ques. Do I have to take the Internship program while doing the CA course?
Ans. You need to complete an articleship of 3 years (which is equivalent to an Internship program) to get the certificate of CA.
Ques. When will the registration process start for the CA CPT Exam?
Ans. Registration for CA CPT starts 9 months before the CA CPT Exam.
Ques. Will I get a job after completing CA?
Ans. Yes, You will get it. You just need to stay motivated and positive all the time. Getting a job is not so easy in this era, but you still need to prepare well so that you can get a good job after completing CA.
Ques. What is the profit of becoming a CA?
Ans. The career of CA is very demanding and profitable. You will get chances and opportunities in this field and can earn a good amount of salary.
Ques. Which is tough CA or MBA?
Ans. Both are not so easy. But in comparison to getting admission, CA courses are much longer in duration. CA courses usually take 2-5 years whereas MBA courses take 2 years.
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