Company Secretary (CS) Salary in India (2024)

A company secretary is vital to the smooth operation of a commercial organization, ensuring all legal and regulatory duties are met while implementing the decisions of the board of directors. So, if you are dreaming of a job with financial rewards, growth, and exposure in 2024, then the company secretary role might just be the right fit for you. In this blog, we will look at the job profile of a company secretary, focusing on company secretary salary in India, to explore if it could be a promising career choice for you.

Company Secretary (CS) Job Overview

A company secretary is responsible for maintaining compliance with legal and regulatory obligations. They ensure the effective operation of corporations, especially in common law jurisdictions. Additionally, company secretaries are needed by company law boards and several government entities. Leading firms offer competitive compensation packages to corporate secretaries who possess a certificate of practice. Let’s take a closer look at the skills and qualifications necessary to become a corporate secretary before we move on to discuss the company secretary salary package in India.

Skills Required To Become A Company Secretary

Becoming a company secretary is a rewarding career that requires strong communication, analytical skills, and a solid understanding of corporate governance. Below we have explored the most important technical skills for a company secretary:

1. Communicating with Stakeholders: A company secretary serves as a vital link, ensuring that critical information promptly reaches all of the company’s stakeholders.
2. Developing Plans & Policies: Large organizations depend on a company secretary to offer invaluable guidance to the board of directors, assisting in the development of plans and policies that effectively direct the company.
3. Looking After Legal Contracts: A company secretary frequently acts as an agent, representing the company in contractual agreements. This enables the company’s directors to concentrate on broader strategic issues.
4. Managing Share Distribution: Companies require an individual proficient in managing share distribution, producing and distributing share certificates, and supervising the preparation of various statutory, annual, and director’s reports.

Qualifications Required to Become a Company Secretary

Acting as an advisor to the board, a company secretary ensures adherence to legal and regulatory standards while fostering communication among stakeholders. Let’s take a look below at the essential requirements needed to become a company secretary: 

1. The Executive Program and Professional Program are the two levels of the company secretaryship that a student must complete to enrol in a course after graduating.
2. Students in the Arts, Science, or Commerce streams who have completed their 10+2 or equivalent can enrol in the Foundation Program (Excluding Fine Arts)
3. Graduates of all streams are eligible to pursue the Executive Programme. However, one can only seek a Professional Program after passing the CS Course Executive Program. 
4. Furthermore, you can also pursue life skill courses that can help you become a good company secretary, such as Business Management and Leadership, a certificate course in Intellectual Property Rights (IPR), CMA, etc.

Average Salary of a Company Secretary in India

In India, the average annual salary for a company secretary starts at ₹8.8 LPA. The monthly in-hand salary falls between ₹45,597 and ₹46,678 based on the latest research. In addition to the base pay, corporations provide corporate secretaries with a variety of additional monetary compensations, which vary based on performance, talents, and experience, and that range between ₹15,783 to ₹28,374 per month.

Company Secretary Salary in India Based on Location

Salaries can vary widely depending on all geographic locations, and getting a better understanding of this can help professionals make informed decisions about their careers. Salaries in your region may be found by filtering by location, which can help professionals gain more insights into their earning potential. Here are the salary trends for some of the famous tier-1 cities:

Cities	Average CS Salary
Mumbai	₹9.0 LPA – ₹14.0 LPA
Delhi	₹3.0 LPA – ₹9.0 LPA
Bengaluru	₹2.0 LPA – ₹12.0 LPA
Chennai	₹3.5 LPA – ₹12.0 LPA
Hyderabad	₹4.0 LPA –  ₹ 12.8 LPA

Company Secretary Salary in India Based on Experience

We will examine the significant impact of experience on the earning potential of company secretaries (CS) in India. As professionals progress through their careers, their years of experience often translate into increased salaries; the following table depicts the same: 

Experience	Average Salary per Annum
Less than 1 year	₹2.5 LPA
2-3 years	₹4.7 LPA
5-6 years	₹6.6 LPA
7-8 years	₹8.4 LPA
10-11 years	₹10.3 LPA
12-13 years	₹11.2 LPA

Company Secretary Salary in India Based on Levels

Many companies in India follow a level-based pay system from junior associates to senior managers which means their income is determined by their level of responsibility and seniority within the company. Let’s explore this structure in the table below in more detail:

Level	Annual Salary in Average
Junior Company Secretary	₹2.6 LPA
Deputy Company Secretary	₹6.0 LPA
Senior Company Secretary	₹14.6 LPA

Factors Affecting Company Secretary Salary In India

There are various factors impacting the salary of a company secretary in India in 2024. Some of them are listed below:

1. Experience: Professionals who have a strong background in leadership positions and a thorough understanding of business dynamics can earn higher salary compensation.
2. Educational Qualification: Company secretaries need to have a strong educational foundation, The Executive Program and the Professional Program are two of the main programs one has to complete to be eligible to be a company secretary. This will increase their reputation and open up more career and salary progression chances.
3. Proficiency and Knowledge: A company secretary’s marketability and earning potential are greatly enhanced by having specific skills, such as legal and compliance knowledge. One can also take courses like communication skills to effectively communicate with stakeholders and organizational skills to manage multiple tasks efficiently. If you are looking to gain more experience in the same, you can also check out our business communication skills course to enhance your skill set.
4. Market Demand: The market demand for company secretaries affects their salaries; a high level of competition among skilled individuals may result in higher salary packages.
5. Outcomes and Input: Rewarding performance and contributions that go above and beyond, such as incentives and promotions, are given in recognition of the company secretary’s value to the company.

CS Salary in India: Perks & Allowances

Company secretaries in India are entitled to a variety of benefits and incentives that acknowledge and appreciate their valuable contributions. The company secretary package in India includes the following advantages:

1. Insurance for Private Medical: Many companies offer health insurance coverage for employees and their families.
2. Performance-Based Bonuses: Companies may offer bonuses based on individual and company performance.
3. Provident Fund Contribution: As mandated by law, companies contribute a portion of the salary to the employee’s PF account.
4. Leave Travel Allowance (LTA): Tax-exempt allowance for travel expenses incurred during vacations.
5. Professional Development Opportunities: Companies may sponsor conferences, workshops, or training programs for CS professionals.

Conclusion

In 2024, the landscape of company secretary salary in India continues to be influenced by factors like experience, location, and demand for specialized skills. Entry-level professionals may earn around ₹2.5 LPA, while seasoned experts can command up to ₹17.2 LPA. Aspiring company secretaries must consider these variables and negotiate competitive compensation packages to reflect their expertise and responsibilities accurately. Company secretaries who wish to make the best of their income should concentrate on refining specialized skills, seeking additional certifications, and keeping up with industry developments. Want to learn more about high-salary jobs in India?  Check out our blog on the best-paying jobs after an MBA in business analytics.

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