How much do CPAs make: What is CPA salary in India - Companies, Job roles

Becoming a CPA involves passing the CPA exam and obtaining the necessary CPA license to practice as a certified public accountant. The CPA credential is highly valued in the accounting profession and is recognized by multinational corporations around the world. US CPAs have the advantage of a broad career path, with opportunities in various fields such as financial reporting and forensic accounting.

The salary for CPAs can be quite lucrative, reflecting the high demand for skilled accounting professionals. Achieving the CPA credential can significantly open doors for career advancement and provide opportunities to work with multinational firms.

Forensic accounting is one of the specialized areas where the CPA credential is particularly valued due to its complexity and the need for detailed financial analysis. The demand for CPAs continues to grow as businesses seek professionals with expertise in financial reporting and other critical accounting functions.

A CPA career offers a wide range of opportunities, from working in corporate finance to consulting for large multinational corporations.

Key Takeaways

• Average CPA Salary in India and Globally

• Locations where Qualified US CPAs can work

How much can a CPA earn? In different locations, companies, job roles

An individual with a bachelor's degree in accounting or finance or at an entry-level accountant post in their firm who is seeking a higher salary and more job responsibilities may want to consider obtaining a certified public account designation. A CPA US who is fresh with a degree and the certification may earn towards the higher end of five-figure salaries. In contrast, those with a couple of years of experience may earn six-figure salaries annually. Be it the average CPA Salary in India, Dubai, or Canada, all such individuals are set for life.

Average CPA Salary in India and Globally

According to research published by the American Institute of Certified Public Accountants, the CPA fresher salary in the US is around $66,000 per year. The average CPA salary in the US is around $119,000; additionally, with over 20 years of experience in the field of accounting, one could draw up to $160,000 in annual pay and even look at C-suite level positions to augment their careers. 

Across many industries in India, the CPA US certification has been getting more prominent. It is in demand, thereby giving the certification holders ease of joining the workforce, challenging positions to work in, and lucrative financial packages. 

At entry level, with little or no experience in accounting, CPA jobs in India have a salary close to 6 lakhs per annum at firms that are not top-end. The average salary may be fit at 9 lakhs per annum. Thus, the average CPA salary in the big four in India is around Rs. 70,000 to 80,000

US CPA holders entering the Big 4 accounting firms can command a salary range between 12 lakhs per annum and 20 lakhs per annum, depending on their experience, past firms, and job roles. 

In addition, in India, CPA jobs get close to 10% of their salary as bonuses and receive an increment of 40% annually. A candidate entering one of the Big 4 with an entry-level package can increase their pay from 12 lakhs to close to 14 or 15 lakhs per annum in 3 years, excluding bonuses and incentives. The CPA vs. non-CPA salary is markedly different and can be anywhere in the range of 20–25%.

CPA Jobs in India

In the Big Four and top accounting firms, the auditors are for six out of every ten of India's top 500 listed companies. These companies are hired to fulfill their professional services: taxation, assurance, consulting, risk advisory, actuarial, audit, transaction advisory, corporate finance, and legal services.

Along with the Big 4, many other firms and MNCs, like Accenture, Amazon, Netflix, and Walmart, are vehemently hiring for CPA jobs in India. 

CPA jobs in India are exciting and challenging and require expertise, time management, and teamwork. Some of the roles are as follows, but are not limited to: 

• Public Accounting
• Financial Analyst
• Financial Controller
• Risk and Compliance Professional
• Senior Financial Analyst
• Information technology Accountant
• Accounting Software Developer
• Finance Director
• Corporate Controller
• Personal Financial Advisor

A Certified Public Accountant supports corporations, organizations, or individual proprietors with tax and financial statement planning. CPA jobs in India include day-to-day tasks like:

• Examining financial records.
• Preparing tax forms and other tax documents.
• Overseeing financial and management audits.

In general, the responsibilities of a CPA can be elaborated as follows:

• Maintaining & organizing digital and physical financial records.
• Coordinating with employees on income tax research, filing, and planning
• Conducting periodic audits to ensure accuracy in financial records, expenses, and savings of the firm
• Assessing all business transactions and preparing accurate reports on findings. 
• Organizing and filing all central, state, and local income tax documents.
• Development and implementation of effective accounting policies and processes
• Contributing research and analysis to budgeting procedures
• Regularly briefing the management of the company on the financial health of the company and recommending solutions to improve results.
• Ensuring they are up-to-date with industry and accounting standards changes and changes in regulations from the government
• Generally, responding to tax and accounting-related issues of the firm, its management, and the employees. 

Private persons who are high-net-worth individuals also hire accountants for their financial planning, investment strategy, tax accounting, etc. Here, CPA jobs in India are based on personal rapport, communication, high performance, and risk management ability. 

Locations where Qualified US CPAs can work

Major MNCs, accounting firms like the Big 4, and others in the accounting and management consulting sector hire year-round and base their hiring on on-campus placements, internal references, and online job application portals. The locations decided for the CPA jobs in India are based on employee preferences, employee merit, and job vacancies that the firm internally determines. Firms consider the family location, work preferences, opportunities, and roles available at various offices around the country. Some employees may even receive onsite opportunities that will require them to travel abroad on a project basis. 

The largest of the Big 4, Deloitte, has offices and CPA jobs in India in almost all major cities and hires year-round for these offices based on their internal requirements and talent acquisition capacity. Their offices are in Ahmedabad, Bengaluru, Chennai, Gurugram, Hyderabad, Kolkata, Mumbai, Pune, Kochi, and Goa. Deloitte has two offices in Bengaluru, Hyderabad, and Mumbai because of their higher clientele in these cities. 

PwC, or Pricewaterhouse Coopers, is based in London, UK, and ranks 2nd in the list of the Big 4 companies in India. They hire around the year, especially freshmen from college placements. All the offices of PwC are located in 8 major cities in India, including Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, Raipur, Bhopal, and Pune. 

Ernst & Young, also known as EY India, is the 3rd largest auditing firm on the list of the Big 4 companies in India. It has 27 offices spread across India and employs over 50,000 employees globally. Their offices in India are in New Delhi, Gurugram, Noida, Mumbai, Pune, Bangalore, Hyderabad, Chennai, Kolkata, Ahmedabad, Chandigarh, Jamshedpur, and Kochi.

KPMG or Klynveld Peat Marwick Goerdeler is the 4th largest among the group of Big 4 companies in India with a market share of 29.22%, is based out of Amstelveen, The Netherlands, has 22 offices in India and employs 12,000+ across regions in India. They have 3 locations in Bengaluru, 2 locations in Kochi, 4 across Mumbai and Navi Mumbai, 3 in Pune, and 1 in Kolkata, Jaipur, Noida, Gurugram, Chennai, Chandigarh, Hyderabad, and Ahmedabad. 

Major employers of CPA holders other than the Big 4 are also located in these major cities of India. CPA holders will generally have to be in these select cities to pursue their jobs in professional and expert accounting. Salaries are also adjusted based on the cost of living in the cities the employees are sent to. For instance, the same job roles across Mumbai and Chandigarh will receive slightly different remunerations instead of accommodation, food expenses, travel, and general cost of living disparity between the two cities. 

Conclusion

In conclusion, obtaining a CPA designation can significantly enhance your career prospects within the accounting field. Holding a CPA often leads to high salaries, especially in roles such as senior management or chief financial officer within public accounting firms or public companies. The annual CPA salary can vary based on factors such as job profile, experience level, and the scope of CPA responsibilities, but overall, CPAs are well-compensated for their expertise.

The CPA certification is highly valued, and passing the Uniform CPA Examination is crucial for earning this credential. While the average certified public accountant's salary is substantial, it can be even higher in senior positions or with experience in public accounting firms.

US Certified Public Accountants are in high demand, both domestically and internationally, reflecting the global recognition and importance of the CPA qualification. Whether pursuing a CPA in the US or considering the CPA journey in countries like India, the benefits of this certification include a robust career path and the potential for lucrative salaries.

CPA holders have a considerably lucrative job market to enter and attain their financial and professional ambitions. The CPA salary in the Big 4 in India or even in small CPA firms can be extremely high. They will be based out of some of the major cities of India, accessing some of the best infrastructure in the country, working at some of the most prominent organisations, and receiving more than sufficient remuneration for their hard work. If you want to pursue a CPA degree, then you can join the CPA classes at NorthStar.