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It’s crucial to have a good grasp of the earning possibilities in your selected field as a job seeker in India. This is especially true for people who want to work in accounting. We will talk about Indian accountant salary in this blog. We will go through the many jobs and duties of an accountant, the crucial abilities needed to succeed in this industry, and the typical accountant salary in India. We will also look at the variables, such as education level, certifications, job title, industry, and location, that may have an impact on an accountant’s earning potential. You will have a thorough awareness of accountant salaries in India and the things that may affect your ability to make money in this industry by the time you finish reading this blog.
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Accountant Salary in India
Accountants make more money than their counterparts in other cities in metropolitan areas like Mumbai, Delhi, Bangalore, and Chennai, where the cost of living is considerably greater. With a large number of international enterprises, financial institutions, and accountancy firms located there, these cities are frequently India’s financial centres.
Depending on the city of employment, industry, amount of experience, and size of the business, the accountant salary for freshers in India might vary greatly.
Average Accountants Salary in India
The average Salary for an accountant in India can vary depending on the organization’s size, industry, location, experience, and qualifications. Here is an estimate of the monthly wage for an accountant in India. In India, an accountant makes an annual income of about INR 2.5 lakh. However, this can vary depending on several factors such as location, industry, and experience level.
The amount of experience has a big impact on how much an accountant is paid. Senior accountants with more than ten years of experience may expect to earn an average of INR 5.9 lakh per year or more, while entry-level accountants with less than one year of experience can expect to earn an average of INR 2.5 lakh per year. Due to the higher cost of living in major cities like Mumbai, Delhi, and Bangalore, the average accountant compensation may be higher.
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Average Salary of Accountants in India Per Month
The median monthly wage for freshers or entry-level accountants in India is from 20,000 to 40,000 rupees. The above-mentioned variables, however, can cause this to vary, with earnings on the higher end for those with extraordinary credentials and talents.
As accountants advance in their careers and gain expertise, their incomes rise. Indian mid-level accountants can anticipate a monthly income that ranges from $30,000 to $60,000 or more on average. Depending on experience, industry, and organisation size, the average monthly remuneration for senior-level accountants or those in managerial positions can range from 50,000 to 1 lakh or more.
Accountant Salary in India: City Wise
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The cost of living, industry demand, and general economic conditions in each city can all affect the city-based accountant salary in Mumbai, Kolkata, Bangalore, New Delhi, and Chennai.
| Name of the Cities | Description |
|---|---|
| Mumbai | Mumbai offers better salaries for accountants than other locations because it is India’s financial capital. In Mumbai, entry-level roles for accountants typically pay between $25,000 and $60,000 a month. While senior-level accountants or those in managerial positions can make monthly salaries ranging from 70,000 to 1.5 lakhs or higher, mid-level accountants can anticipate a monthly compensation of between 40,000 to 90,000 or more. |
| Bangalore | Bangalore, known as India’s technological hub, pays accountants attractive wages. Bangalore’s entry-level accountants can anticipate receiving monthly wages between $25,000 and $50,000. Senior-level accountants can earn monthly salaries of 70,000 to 1.5 lakh or more, while mid-level accountants may make between 40,000 and 80,000 rupees. |
| Chennai | In Chennai, accountants typically earn less than their counterparts in locations like Mumbai and Bangalore. Beginning accountants might anticipate receiving monthly pay in the range of $18,000 to $40,000. Senior-level accountants can earn monthly wages between 45,000 and 1 lakh or more, while mid-level accountants may make between 25,000 and 60,000 rupees. |
| Kolkatta | In Kolkata mid-level accountants can make about 30,000 to 70,000 per month, while entry-level accountants can anticipate monthly wages ranging from 20,000 to 45,000. Senior accountants may receive monthly pay that is between 50,000 and 1.2 lakh rupees or higher. |
| New Delhi | The capital city of New Delhi provides accountants with a variety of employment options. In New Delhi, entry-level accountants can expect to get a monthly salary between 20,000 and 45,000. Senior-level accountants can earn monthly wages of between 50,000 and 1.2 lakh or more, while mid-level accountants may make between 30,000 and 70,000 rupees. |
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After accumulating a significant amount of experience, the average cost accountant salary in India is INR 8.8 LPA. A cost accountant’s initial pay is INR 3.5 LPA, while their highest pay is INR 22 LPA and, in some circumstances, INR 37 LPA. Cost accountants in India make between 35,957 and 37,183 rupees per month in pay.
In India, cost accountants with five years’ worth of experience can expect to make up to INR 4.9 LPA. Higher-ranking and more seasoned individuals make more money than those who are just entering the field. Top designations with average annual incomes of INR 8 LPA and INR 6.3 LPA are Cost Controller and Senior Analyst.
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Cost Accountant Salary: Experience Wise
The remuneration of a cost accountant is heavily influenced by experience. Due to the information and skill set they provide, it is evident that cost accountants with experience get paid better. The pay for cost accountants based on years of experience are shown in the following table.
| 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: Post Wise
Cost accountant salaries substantially vary based on the designation. In accordance with the numerous designations, the profession has experienced a range of remuneration. In the table below, cost accountant salaries for some of the top positions are included.
| 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
Cost accountants are paid differently depending on the unique abilities and experience they have. Some of the top abilities a cost accountant should have are financial analysis, budgeting, and data analysis. The following table lists cost accountant salaries according to various talents.
| 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
Depending on their level of education, cost accountants earn a wide range of salaries. To be compensated appropriately, cost accountants must have a high level of training and expertise. Higher-educated professionals make more money than individuals with less degrees. The salaries of cost accountants at various levels of qualification are shown in the following table.
| 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
Cost accountants are frequently used by businesses to manage their financial operations since they assist in cost tracking and educated financial decision-making. The salaries of some of India’s leading companies that hire cost accountants are shown in the table below.
| 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
Depending on the city in which they work, cost accountants can earn drastically different salaries. The compensation is influenced by the city’s cost of living and demand for cost accountants. The chart below lists cost accountants from some of the main Indian cities.
| 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 |
FAQs
Q. What is the starting salary of an Accountant in India?
Ans: Average starting Salary for Accountants in India is around ₹0.4 Lakh per year (₹3.3k per month). 1 year of minimum experience is required to be an Accountant.
Q. What is the Highest salary of an Accountant in India?
Ans: Highest salary that an Accountant can earn is ₹6.0 Lakhs per year (₹50.0k per month).
Q. What are the top skills required to become an Accountant?
Ans: These are the top skills of an Accountant based on 20641 jobs posted by employers.
- Accounting
- Tally
- Finance
- TDS
- Taxation
Q. How does an Accountant Salary in India change with experience?
Ans: An Entry Level Accountant with less than three years of experience earns an average salary of ₹2.2 Lakhs per year. A mid-career Accountant with 4-9 years of experience earns an average salary of ₹3.3 Lakhs per year, while an experienced Accountant with 10-20 years of experience earns an average salary of ₹4.7 Lakhs per year.
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