Accountant Salary in India: The Detailed Guide

The role of an accountant in India is critical to business operations, financial reporting, and compliance with regulatory requirements. According to the Institute of Chartered Accountants of India (ICAI), India will need more than 30 lakh new CAs by the time it marks its 100th anniversary of independence. With the rapid digitalization of finance functions, the demand for accountants with skills in data analysis and financial software is expected to rise, making this profession a stable and attractive career path in the long term. In this blog, we will explore an accountant’s salary in India, considering factors such as experience, job roles, location, and industry.

Average Salary of Accountants in India

In India, the average salary for an accountant is around ₹3.3 LPA. Monthly earnings typically range between ₹18,682 to ₹20,365, depending on several factors like experience, location, and the company they work for. These figures can vary significantly based on their skills and the industry they’re involved in. In this section, we’ll explore the key factors influencing an accountant’s salary in India and how you can maximize your earning potential in this field.

Accountant Salary in India Based on Experience

The salary of accountants in India is closely tied to their years of experience. Entry-level accountants typically earn less as they build their knowledge and skills. They start with working in areas like tax laws, auditing, and financial reporting. With around 1-3 years of experience, professionals start to gain expertise in handling complex financial data, which can lead to higher salaries. 

Mid-level accountants, with 5-9 years of experience, often assume supervisory roles or specialize in areas like cost accounting or forensic accounting, earning more due to their specialized knowledge. 

The table below shows the average accountant salary in India based on experience level:

Experience Level	Average Annual  Salary
1-2 years	₹3.2 LPA
2-3 years	₹3.5 LPA
3-4 years	₹3.7 LPA
4-5 years	₹4 LPA
5-6 years	₹4.4 LPA
6-7 years	₹4.5 LPA
7-8 years	₹5 LPA
8-9 years	₹5.1 LPA
9-10 years	₹5.3 LPA
10-11 years	₹5.4 LPA
11-12 years	₹5.7 LPA

Accountant Salary in India Based on Industry

The industry in which an accountant works significantly influences their salary. Accountants in sectors like information technology, banking, and finance typically earn more due to the complex nature of the financial systems in these industries. 

Other high-paying industries include pharmaceuticals and manufacturing, where accountants deal with large-scale financial operations. The level of financial regulation and reporting requirements in an industry can also affect the compensation packages for accountants.

Here is a table showing the average salary of an accountant in India across various industries:

Industry	Average Annual Salary
Manufacturing	₹3.5 LPA
IT Services and Consulting	₹4.1 LPA
Financial Services	₹3.5 LPA
Engineering and Construction	₹4.3 LPA
Education and Training	₹3.1 LPA
BPO	₹3.8 LPA
Industrial Machinery	₹3.8 LPA

Accountant Salary in India Based on Location

Location plays a critical role in determining accountant salaries in India. Major metropolitan areas such as Mumbai, Delhi, Bangalore, and Chennai offer higher salaries due to the cost of living and the presence of multinational corporations and large firms. Accountants working in Tier-1 cities tend to receive more competitive pay packages compared to those in Tier-2 or Tier-3 cities. 

Let us explore the average salary of an accountant in India in various locations:

Location	Average Annual Salary
Bangalore	₹3.4 LPA
Mumbai	₹3.2 LPA
Delhi	₹3.3 LPA
Hyderabad	₹3.4 LPA
Pune	₹4 LPA
Chennai	₹3.3 LPA

Accountant Salary in India Based on Company

The size and reputation of the company significantly affect accountant salaries in India. Multinational corporations (MNCs), big four accounting firms (Deloitte, PwC, EY, and KPMG), and large domestic firms offer higher salaries due to the complexity and scope of the financial services they handle. These companies often provide additional perks and benefits as part of the compensation package. 

On the other hand, accountants working in small to medium-sized enterprises (SMEs) or startups may earn lower salaries initially but can benefit from rapid career growth and more diverse responsibilities. 

Here is a table showing the average salary of an accountant in India for different companies:

Company Name	Average Annual Salary
Deloitte	₹5.9 LPA
KPMG	₹4.5 LPA
Infosys BPM	₹4 LPA
Karnavat & Co.	₹3.8 LPA
Infosys	₹4.2 LPA
Genpact	₹4.6 LPA
Accenture	₹4 LPA
Accountant Anywhere Services	₹3.8 LPA
Tax Consultants	₹3.5 LPA
Wood Group	₹7.7 LPA

Accountant Salary in India Based on Job Roles

An accountant’s compensation is also based on their professional job role. For example, tax accountants and forensic accountants often earn more due to their specialized expertise in dealing with tax regulations and financial fraud investigations, respectively. Cost accountants, who focus on reducing a company’s expenses, are also well-compensated for their strategic contributions. Specialized roles such as managerial accountants see higher salary growth as their careers advance.

Here is a table showing the  average salary of an accountant in India for various accounting roles in India:

Job Role	Average Annual Salary
Tax Accountant	₹5.5 LPA
Forensic Accountant	₹9.9 LPA
Certified Public Accountant (CPA)	₹6.8 LPA
Accounting Officer	₹4.6 LPA
Cost Accountant	₹7.3 LPA
Management Accountant	₹12.8 LPA

Factors Affecting Accountant Salaries in India

Several factors significantly impact the salary range for accounts jobs in India. Some of these factors include:

1. Experience: One of the primary factors influencing an accountant’s salary is their level of experience. Entry-level accountants earn significantly less compared to professionals with 5-10 years of experience, who command higher salaries as they take on more responsibilities and specialized roles like auditing or tax consulting.
2. Industry: Accountants in industries like IT, financial services, and pharmaceuticals tend to earn higher salaries due to the complexity and scale of financial operations. On the other hand, industries such as non-profit and government sectors offer relatively lower compensation packages.
3. Location: Salaries also vary based on geographic location. Accountants in metro cities like Mumbai, Delhi, and Bangalore generally earn more than those in Tier-2 or Tier-3 cities, where the cost of living is lower and the demand for specialized accounting roles might not be as high.
4. Education and Certifications: Professional qualifications such as Chartered Accountant (CA), Certified Public Accountant (CPA), or Cost and Management Accountant (CMA) boost salary potential. Certified accountants typically earn more due to their advanced skills and knowledge of regulations and compliance.
5. Job Role: Specialization in areas like forensic accounting, tax accounting, or management accounting can lead to higher salaries compared to general accounting roles. Senior roles such as finance manager or financial controller also come with higher compensation due to their strategic importance in organizations.
6. Company Size and Reputation: Working for large firms or MNCs like the Big Four (PwC, Deloitte, EY, KPMG) tends to offer better salary packages than working for small to medium-sized enterprises (SMEs). Larger firms usually deal with more complex financial systems, justifying higher pay for accounting professionals.

Conclusion

Pursuing a career as an accountant in India offers numerous opportunities for growth and financial stability. Factors such as industry, location, experience, and certifications all play critical roles in determining an accountant’s salary in India. To increase salary prospects, you should gain relevant knowledge and try to obtain advanced qualifications like a CA or CPA. Explore high-demand industries such as finance or IT and develop skills in emerging areas like data analytics or financial technologies to further enhance your career prospects. Looking for more insights and practical advice on landing your dream accounting role? Check out our detailed guide on how to get an accounting job.

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