Accounting Jobs That Don’t Necessarily Require CPA
The incredible thing is that there is a high need for non-CPA accountants for many types of accounting jobs. You have short and long-term choices if current market conditions have paused your CPA aspirations or if you aren’t sure whether the CPA path is suitable for you.
Here are some accounting jobs that don’t mandate CPA.
Chartered Accountant (CA)
The designations of CPA and CA are earned after completing a program of study and passing a test. The CPA certificate is only granted in the United States, but the CA certificate is issued and recognized internationally.
In India, a CA is highly valued. There are CAs who are self-employed or who work for businesses. Chartered Accountant salaries in India are, nonetheless, quite good.
Suppose you have a fundamental grasp of commerce and a fondness for arithmetic, as well as a thorough comprehension of disciplines such as accounting, finance, taxation, jurisprudence, and business studies. In that case, you are well on your way to becoming a Chartered Accountant. However, some students trained in a different field have switched to become Chartered Accountants. The primary reason is a high demand for CAs in India, and CA salaries in India are in the millions.
A candidate who has cleared the CA-Finals and has the essential skill, capabilities, and expertise is in a great position to earn a monthly CA salary in India.
Chartered Accountant salaries in India range from INR 3 lakh to 8 lakh per year. For an international posting, a Chartered Accountant’s income ranges from INR 9-18 lakhs per year, with the public sector paying INR 10-20 lakhs per year. Indian business behemoths provide salaries ranging from 6 to 9 lakhs per year.
Cost Accountant
As per IBEF, between 2018 and 2028, job prospects for cost accountants will increase by 6%, resulting in 90,000 new positions. They further mentioned that the average annual compensation for Cost Accountants worldwide is around INR 40 lakh in developed nations. Starting average salary in India is around INR 6 lakh per annum.
This course has three levels: CMA Foundation, intermediate, and finals. The training lasts anything from eight to eighteen months. Every student must finish a 100-hour training program to accomplish this course. The foundation course costs INR 4000, the intermediate course costs INR 20,000, and the CMA final course costs INR 17,000 on average.
The most popular course for becoming a cost accountant is the CMA. An MBA in Accounting can also be used to become a cost accountant. It is a well-known fact that a candidate with a Cost Accountant certification earns 30% more than a candidate without a Cost Accountant certification.
Financial Analyst
A Financial Analyst must research market trends, demography, and microeconomic aspects to help the organization make profitable investments. A financial analyst is in charge of counseling businesses on bond issuance, stock splits, and other matters.
Financial analysts are one of India’s highest-paid financial professionals. Financial analysts are compensated well annually because this is a highly specialized profession requiring unique skills and industry expertise.
In India, the average annual salary for a financial analyst is INR 4 lakh, which includes incentives. On average, income in this sector ranges from INR 3.2 lakh per year to INR up to 12.5 lakh per year, depending on various criteria such as your experience, geography, expertise, and company.
Taxation Manager
A bachelor’s degree with a major in accounting, finance, or a related discipline is necessary for working as a tax manager. They should also have accounting, taxpayer compliance, or auditing experience. They must also have worked in a related profession for at least one year to work for the IRS.
In subjects like economics, business administration, and accounting, master’s degrees are frequently recommended. Some have backgrounds in finance or banking. This allows students to learn more about tax analysis, bookkeeping, and accounting jobs.
In India, the taxation manager’s salary is INR 10 lakh per year or 500 rupees per hour. The starting pay for entry-level is INR 5.5 lakh per year, with most experienced people earning up to INR 15 lakh per year.
Actuary Accounts
An actuary is a professional in business and finance who works with the financial implications of risks and uncertainties. These experts provide:
- An expert evaluation of a financial security system.
- Focusing on the difficulty level.
- Working conditions.
- Mathematics.
The insurance business in India has a great potential for expansion. Thus, qualified actuaries have a lot of opportunities.
Anyone above 18 who has a strong aptitude in math and statistics can join the Institute of Actuaries of India. However, people with advanced degrees in mathematics, statistics, or microeconomics (graduate, postgraduate, etc.) are best suited for this professional path.
Actuary professionals begin their careers with a lump sum yearly salary of INR 8 lakh per annum plus various extra benefits. With experience and promotions, one can advance up the corporate ladder. Actuaries are well-liked in both business and society. They are regarded as the foundation of every financial institution.
Assistant Accounts Executive
Researching to develop strategies for clients, monitoring the progress and budgeting, and providing reports are among the tasks of the Assistant Account Executive. From start to finish, they assist customers with project planning and execution.
Salaries for Assistant Account Executive in India range from 1.0 to 5.0 lakhs per year, with an average of 2.5 lakhs.
Account Executives could also help develop sales strategies and the setting of quotas. You should be a multitasking expert with excellent computer and communication abilities.
Account executives that succeed will be great communicators and reviewers who can match the right customer to the right product. The ideal applicant will be well-organized, enthusiastic about customer service, and committed to improving the consumer experience. So as the salary hike will be given based on the individual skill sets and expertise.
