How much does it cost to become a CA in India?
Though i am not updated with the latest fee structure , can definately tell you it is less than 50k including institute materials.However if u going for coaching classes during various stages it again depends , so say 1 lakh more .So now that you approxiametly spent 1.5 lakhs, there is 3 years articleship you would do and hence get stipend. Assuming your principal is good , you will get approx 5k per month (5*36=1.8lacs).So the actual cost is -30k.It is interesting to note, that big4 pays upto 15k per month and some other firms pay atleast 1250 per months. So in either cases your fees is covered (apart from private coaching).I can sum saying "CA kar me jawani kharch karne padte he"Monetary terms it doesn't make difference.It is beautiful course , go for it.P:S the number of attempts you take , the extra exams fees you need to pay for every attempt.
How much does an average CA earn?
Well, I m going to give you a very honest account that focuses more on the ground realities of being a CA. Just to make it clear, I have interviewed (at least) 300 CAs in the past 3 years. This means I know at least a little.I will break it down for an easy understanding of all readers.Qualified CAs over value themselves. A person who was yesterday an article or a paid assistant clears his exam today and within 2 hours is in a meeting requesting for an immediate pay rise as he is a CA and the “industry standards” suggest he get anything above 5 LPA.Lack of integrity. Not generalizing but with the population size I have interacted with, the average CA lacks integrity. Give him INR 5,000 more and he will leave his current employer. I have been on both sides of the story.Zero or negligible English speaking skills. This is mostly prevalent among fresh CA but can be seen among fairly qualified ones too. Oh my lord they go nervous when I ask “tell me something about yourself that is NOT mentioned on your CV.”Lack of technical knowledge. I did a telephonic interview with this guy who was working with one of the “Big 4” and as his CV said he was paid INR 1.2 million at the time, annually. His asking rate was INR 1.5 mil. I asked him what is the maximum non-taxable income for individuals below 65 years of age. He said 2 Lakh. I made sure I asked him “Mr. XYZ, do you realize the salary you are expecting and the level of knowledge you have?”Their hate for MBAs. Sigh. What have they done to you guys?! Calm down and work in a team. Grow up. Seriously.I can count on my fingers the people who had decent (not even amazing) professional dressing sense. Rest all came in expecting to be fired; shoddy, unkempt and casual.The average CA in my view deserves a salary of INR 3.5 Lakh in my view. At a very liberal estimate.I can go on and on but I will limit my rant here. I m already buckling up for the barrage of offensives that the CAs will hurl at me!Gulp it down and don’t be a bully.Cheers
Do CA's earn enough to own a Merc in India?
The question can be answer in 2 ways Can a CA afford Mercedes? What age ? And how many?Well there are 2 types of CA working in MNC and practising. Let's talk about working class average CA first . Well cost of lowest model of Mercedes is 30 lakhs approximate. And an average CA If not ranker earns in and around 6–8lakhs. Just assuming buying a Mercedes is only aim in his life.After saving , if assuming he can save 4 lakhs in a year and presume that cost of Mercedes is still 29 lakhs . In and around 7 years he might afford.Now question will he buy ?No because I being CA , might not find it profitable to go for depreciating assets.But yes I can with some down payment and loan.If he is ranker and start package is 14–17 lakhs. He might do in first year with combo of loan and down payment.Well a practising CA usually like to portray the picture of simple person that he is just facilitating business. He is just taking what is required so usually they won't go. I remember instance during my articleship . My sir use to come in alto whereas lady staff use to come in honda city. For practising CA it's more of what image they want to portray rather than affordability..
How much a CA earns (minimum and maximum) and how much respect he gets?
The two alphabets 'CA' are enough for people to raise their eyebrows immediately and look upto you. How often do you experience that when a person does an MBA?? Not unless he is from a top B-school. That is the kind of respect people give you once you get qualified.Talking about the salary. There is no standard criteria of getting paid. It all comes down to 2 qualities, Knowledge + Communication skills.I've seen the top rank holders not making it to double figures since they were not confident enough to speak. And I've seen people without rank earning more as compared to the rank holders. It all comes down to those two qualities.ICAI though sets a minimum base salary to be offered by recruiters in campus placements, but if you go for walk-in, then there is no such criteria.To conclude: It is always advisable to concentrate on your conceptual knowledge & communication skills, the salary will then follow. Do not satisfy yourself with the highest salary being paid because if you don't possess those two qualities then the highest salaries are merely figures which you'll only admire. Also do not console yourself with the minimum package told because there are 1000s of other people who might be getting much lower than the figure mentioned by the Quorans.It may sound dramatic, but whenever you think of minimum and maximum terms, just remember the dialogue from 3 Idiots : 'Success ke peeche mat bhaago, knowledge ke peeche bhaago. Success will follow :) '
How much income does a Chartered Accountant have per year ?
While the average for a new CA varies from firms and provinces, one recent salary survey indicates that a new CA earns about $80,000 a year, and a CA partner earns about $250,000, and a CA working as a CFO or CEO in the industry earns more. Then again, the experienced, likable and well-connected CA working in biggest CA firms or multinational companies is at the high end of the salary range up to $500,000 a year. PS. CAs from Toronto are generally earn more than CAs from smaller Ontario cities, because of the cost of livings, and more biggest and deep pocket clients in Toronto. On the other hand, economy also comes into picture. For example, CAs working in the auto parts industry may not get bonus this year. While some might envy the earnings of CAs, their path to get there and afterwards are not as appealing to many young people these days: 4 yrs university education in commece and accounting, 3 yrs in CA firm articling, 4-day-and-4-hrs each Uniform Final Exam (arguably much much tougher exam than to become a professional engineer or lawyer), plus long working hours with many deadlines....
How much does an Indian Chartered accountant earn per month?
It depends !!Chartered Accountant holding valid membership and license from ICAI, can pursue many career opportunities. Generally, they get into fields like being an auditor in a registered CA firm, open a firm themselves, be a teacher tutoring CA pursuing students, work in any financial companies.They have the caliber, knowledge in their field and capability to earn a high salaried job or gain huge profits from the high profile clients, they are managing from their CA firm. I know some CA’s earning 4–5 crores a year from different ventures.However, one must understand that, just by becoming a CA, does not guarantee you a high pay scale , they can even work a very low paying job. I know some who, though becoming chartered accountant are jobless, work-less or working a low paying job.Hope the information was helpful. Do give the answer a thumbs up and please feel free to ask any question, which I will try to the best of my knowledge to answer.Happy Learning.
WHAT DOES IT MEAN BY EARN $2250 OR MORE IN BONA FIDE EMPLOYMENT AND REOPEN YOUR CLAIM?
Your friend performed an act that disqualified him from collecting unemployment. Code #1256 basically covers being fired for misconduct and other related activities that would prevent a person from being eligible to receive unemployment benefits. The letter is telling him that before he can ever be eligible for unemployment benefits in the future, he has to return to work, and earn $2250.00 legitimately (legal employment, w-2 form, etc...) Simply put, he isn't eligible for unemployment now because he did something that disqualified him, but if he gets a job, earns at least $2250.00, and finds himself unemployed through no fault of his own, he will be eligible for unemployment when he reapplies. If your friend truly lost his job through no fault of his own, he should contact the unemployment dept. and request an appeal. EDIT: The letter seems to be saying that he is required to earn $2250.00, not that he is required to earn that monthly. I have never heard of a monthly wage requirment. If he finds a job, earns $2250 over any period of time, and gets laid off in the future, he will be eligible for benefits and should reopen his claim. They should word those letters more clearly.
Can a CA earn in crore?
Yes you can. CA course opens up endless opportunities for you. Whether you are in practice or working as an employee, you will have great opportunities and growth prospects. Most of the partners of Big4 and top CA firms in India easily earn more than 1 crore rupees. And a lot of CFO’s in india who are earning in crores are Chartered Accountants.