The average Cost Accountant Salary in India is INR 8.8 LPA while the highest salary can go up to as much as INR 37 LPA. A Cost Accountant is in charge of analysing and tracking the cost of a company’s operations to help it in making informed financial decisions. They are in high demand as companies look to make efficient financial processes.
To become a Cost Accountant, students can enrol in different Cost Accountant courses after class 12. Delhi Technical University, GD Goenka University and Presidency College are some of the best institutions for Cost Accountant education. BBA, B.Sc, BA, B.Com and MBA in Accounting are some of the most famous courses, along with short-term certificate and diploma courses that can be pursued to become a Cost Accountant.
Table of Contents
- Cost Accountant Salary in India
- Cost Accountant Salary: Experience Wise
- Cost Accountant Salary: Designation Wise
- Cost Accountant Salary: Skill Wise
- Cost Accountant Salary: Qualification Wise
- Cost Accountant Salary: Company Wise
- Cost Accountant Salary: City Wise
- Cost Accountant Salary: Country Wise
- Cost Accountant Salary: FAQs
Cost Accountant Salary in India
The average Cost Accountant Salary in India after gaining substantial years of experience is INR 8.80 LPA. The starting salary for a Cost Accountant is INR 3.50 LPA while the highest salary is INR 37 LPA and in certain cases can go up to as much as 50 LPA. The monthly salary for Cost Accountants in India lies in the range of INR 35,957 to INR 37,183.
Cost Accountants with an experience of around 5 years earn up to INR 4.9 LPA in India. Individuals with higher designations and experience are earning more than those who are just starting in the field. Cost Controller and Senior Analyst are top designations with average annual salaries of INR 8 LPA and INR 6.3 LPA.
Cost Accountant Salary: Experience Wise
A Cost Accountant’s salary is highly dependent on experience. It is seen that Cost Accountants with experience are compensated in a better way because of the knowledge and skillset they offer. The following table highlights the Cost Accountant salaries based on years of experience.
| Experience Years | Average Annual Salary (INR) |
|---|---|
| 0 - 1 year | 2 L - 4 L |
| 2 - 5 years | 5 L - 10 L |
| 5+ years | 12 L - 25 L |
Cost Accountant Salary: Designation Wise
Salaries of Cost Accountants vary greatly depending on the designation. The profession has seen varied salaries depending upon the various designations. Cost Accountant salaries for some of the top designations are mentioned in the table below.
| Designations | Average Annual Salary (INR) |
|---|---|
| Accountant | 2.5 L |
| Account Assistant | 2.2 L |
| Cost Controller | 8 L |
| Costing Executive | 3.8 L |
| Audit Assistant | 2.4 L |
| Accounts Officer | 3.6 L |
| Analyst | 5 L |
| Senior Accounts Executive | 4.2 L |
| Senior Analyst | 6.3 L |
Cost Accountant Salary: Skill Wise
The salaries of Cost Accountants varies on the basis of specific skills and expertise they possess. Financial analysis, budgeting and data analysis are some of the top skills that a Cost Accountant should possess. Cost Accountant salaries according to different skills are mentioned in the following table.
| Skill Set | Average Annual Salary (INR) |
|---|---|
| Product Costing | 3.8 L |
| ICWA | 1.4 L |
| Budgeting | 3 L |
| Auditing | 2.7 L |
| CMA | 7.6 L |
| Accounting | 2.5 L |
| Cost Analysis | 5.8 L |
| Variance Analysis | 1.7 L - 2.1 L |
| Cost Audit | 3.5 L |
| MIS | 1.5 L - 4.3 L |
| SAP | 7 L |
Cost Accountant Salary: Qualification Wise
The salaries of Cost Accountants vary greatly on the basis of qualification. Cost Accountants are expected to possess top-quality education and skills in order to get compensated in the best way. Professionals with higher degrees earn more than those with short-term degrees. The following table highlights the salaries of Cost Accountants at different qualification levels.
| Degree Pursued | Average Annual Salary (INR) |
|---|---|
| Diploma | 0.3 L - 3 L |
| Bachelors | 2 L - 5 L |
| Masters | 6 L - 8 L |
Cost Accountant Salary: Company Wise
Companies heavily rely on Cost Accountants for managing financial operations as they help in making informed financial decisions and tracking costs. The table below highlights the salary of some of the top recruiters of Cost Accountants in India.
| Name of the Companies | Average Annual Salary (INR) |
|---|---|
| Larsen & Toubro Limited | 7.6 L |
| NSL Textiles | 4.3 L |
| Accenture | 7.5 L |
| R G Technosolutions | 2.7 L |
| ITC | 9.1 L |
| Genpact | 5.7 L |
| The Dow Chemical Company | 10.4 L |
| Karnavat & Co. | 2.8 L |
| Flex | 4.9 L |
| Chandra Wadhwa & Co. | 3.6 L |
Cost Accountant Salary: City Wise
The salary of a Cost Accountant can vary significantly on the basis of the city they work in. The cost of living and demand for Cost Accountants in the city have an impact on determining the salary. Cost Accountants from some of the top Indian cities are mentioned in the table below.
| Name of the Cities | Average Annual Salary (INR) |
|---|---|
| Chennai | 6.8 L |
| Bangalore | 6.5 L |
| Mumbai | 5.8 L |
| Hyderabad | 5.8 L |
| New Delhi | 5.1 L |
Cost Accountant Salary: Country Wise
The economic status of the country, labour laws and living standards can affect the compensation that a Cost Accountant can get in different countries. Students can apply for Cost Accountant jobs in other countries also after completing their education. Some of the top countries with good pay for Cost Accountants are mentioned in the table below.
| Name of the Countries | Average Annual Salary (INR) |
|---|---|
| UK | 47.78 L |
| Ireland | 51.05 L |
| Canada | 60.58 L |
| Luxembourg | 80.27 L |
Cost Accountant Salary: FAQs
Ques. What is the monthly salary of a Cost Accountant in India?
Ans. The monthly salary for Cost Accountants in India lies in the range of INR 35,910 to INR 37,136.
Ques. What industries are paying the most to Cost Accountants in India?
Ans. Engineering and Construction, Industrial Machinery, Pharma, Auto Components and Fashion and Textiles are the top industries for Cost Accountants in India.
Ques. What skills are required to become a Cost Accountant in India?
Ans. The following are some of the top skills that a Cost Accountant should possess:
- Cost Accounting.
- Costing.
- Product Costing.
- Budgeting.
- ICWA.
Ques. Which city is paying the most to Cost Accountants in India?
Ans. With an average annual salary of INR 6.8 LPA, Chennai is the best city for Cost Accountants in India.
Ques. How much an Account Officer is earning in India?
Ans. The average annual salary of an Account Officer in India is 3.6 LPA.
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