Scope of Company Secretary in India | Know Job Profile, Pay Scale
About Company Secretary (CS)
Scope of Company Secretary in India-The recent corporate disruptions have made business professionals, especially shareholders, less confident. Currently, there is a huge desire for businesses to manage their internal affairs with corporate integrity and transparency. The majority of businesses attempt to maintain stakeholders’ trust. The top management of organizations spends so much time overseeing daily operations that they scarcely have time to interact with stakeholders and win their trust. The organizations/companies recruit experienced and skilled CS specialists to address such. A CS is essential to the efficient operation of a corporate body. One can be sure that a job as a company secretary is both intriguing and rewarding.
One of the chief executives of the corporation is the company secretary (CS). They maintain the company’s records, complete the tax returns, and advise the Board of Directors of their legal responsibilities to ensure that businesses abide by applicable laws.
When the concept of starting a company is first formed, the function of the candidates who pass the ICSI CS Exam begins. However, each company has a different definition of what a company secretary actually does.
You will find a comprehensive overview of Scope of Company Secretary in India after completing CS in this blog.
Career Scope of Company Secretary in India
The public and commercial sectors, financial organizations, and banks all have openings for qualified company secretaries. Boards of company law, numerous government departments, the Department of Company Affairs, etc. all require company secretaries. Top companies provide competitive salary packages to company secretaries.
After receiving a certificate of practice, company secretaries can also launch their own consultancy. For the purpose of providing corporate compliance certificates, companies with paid-up shares between Rs. 10 lakh and Rs. 2 crores are needed to hire/employ the services of practicing company secretaries.
Company secretaries can work as lecturers or visiting faculty in a variety of academic institutions due to their extensive understanding of a broad range of subjects.
Job for Company Secretary
Like Chartered Accountants, Company Secretaries are essential to every type of business, whether it be large or little, public or private. Every corporation needs a company secretary to handle routine tax, legal, and investment matters. While some businesses choose the services provided by company secretary agencies, many employ individual company secretaries.
All industries, including financial institutions and banks, heavy industry, as well as governmental entities, will hire a trained company secretary.
Job Profiles
Following are the profiles that candidates receive upon completing the course:
- Assistance to the Board of Directors
- Company Registrar: A company’s or organization’s hierarchy needs to include a company registrar.
- Legal Advisor: A legal advisor could help the organization in the case of a legal dispute or issue. Additionally, legal advice makes ensuring that the company complies with all administrative, regulatory, and corporate rules.
- Principal Secretary: The responsibilities of a principal secretary include managing all aspects of organizational gatherings, including board meetings, annual general meetings, and encounters with important clients and representatives of the private and public sectors.
- Corporate Policymaker: The creation of both short- and long-term corporate plans is the responsibility of a corporate policymaker. These policymakers also offer corporate management advice when new practices are subject to examination.
- Chief Administrative Officer: A chief administrative officer is responsible for overseeing a company’s general management duties. These personnel are also in charge of protecting the business’s confidential documents and legal files.
- Corporate Planner: The company’s growth possibilities are closely monitored by the corporate planner. These regulators also deal with takeovers both inside and outside the corporation, joint partnerships, collaborations, and mergers.
- Managing Director: By offering secretarial and professional advice, company secretaries also take on the role of one of the board of directors for the organization.
- Contents Coordinator
- Investor Capital Market Relations
- Administrative Assistant
- Administrative Secretary
- Chairman
To Know How To Become CS? click here
Top Recruiters
We’ve provided a list of a few businesses that frequently employ company secretaries.
| Top Recruiters for Company Secretaries | |
| Glocal Healthcare Systems Pvt Ltd | Parsvnath Infra ltd |
| Trinity Reinsurance Brokers Limited | Janalakshmi Financial Services Pvt Ltd |
| Monolith Industries Limited | Shri Lal Mahal Ltd |
| ACB Group of Companies | Punjab National Bank |
| BESTECH India Pvt Ltd | HCL Technologies Limited |
| Omaxe Ltd | BGM Consortium Ltd |
| Indian Railway Finance Corporation Limited | DaVita Care (India) Pvt Limited |
| Jaypee Group | SNG & Partners (Law Firm) |
| Karur Vysya Bank Limited | OIL India Limited |
| Heinz India Pvt Ltd | Birla Corporation Ltd |
Salary of Company Secretary (CS)
Satisfactory pay is earned by company secretaries across many industries. For highly qualified and experienced Company secretaries, most businesses are willing to pay extra. Below is a breakdown of the Company Secretary’s typical pay scale.
| Job Profile | Starting Salary per annum (in INR) | Mid Level Salary per annum (in INR) | Senior Level Salary per annum (In INR) |
| Company Secretary | Rs. 3,00,000 | Rs. 6,00,000 | Rs. 9,00,000 – 12,00,000 |
| Legal Advisor | Rs. 3,00,000 | Rs. 4,00,000 – 5,00,000 | Rs. 10,00,000 |
| Principal Secretary | Rs. 3,00,000 | Rs. 6,00,000 | Rs. 9,00,000 – 12,00,000 |
Pros of becoming a Company Secretary (CS)
- The market is seeing an increase in demand for CS careers.
- The CS profession is expanding rapidly and pays exceptionally well.
- Since company secretary is a professional field, it offers professional jobs in organizations with a good reputation and higher pay.
- The CS Course has no age restrictions. Anyone can enroll in a CS course anytime it feels right.
- Flexible work schedules in CS make it easier to have a healthy work-life balance.
- A high-satisfaction career as a company secretary can ensure a secure future.
- Building solid relationships is advantageous because CS frequently interacts with the nation’s highest officials.
Cons of becoming a Company Secretary (CS)
- The CS Course is not well-known internationally.
- There is ongoing pressure on CS to produce outcomes because the duties and obligations associated with the CS position are very accountable and visible.
- The CS Course is extremely difficult to complete, and the CS exams are quite challenging to pass.
- In comparison to other countries, India offers fewer employment chances for CS.
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FAQs
The public and commercial sectors, financial organizations, and banks all have openings for qualified company secretaries. Boards of company law, numerous government departments, the Department of Company Affairs, etc. all require company secretaries.
Therefore, there are fewer possibilities available for CMAs than for CAs. An average compensation of 6-7 lakhs can be given to a newly qualified chartered accountant, and this salary rises with skill and experience. In India, the average compensation for CS is between 5 and 6 lakhs and the typical CMA income ranges from 5-7 lakhs.
CMA is lower than CA and CS. In general, CA is more practical and less theoretical, whereas CS is more theoretical and less practical. Therefore, if you excel in the practical, you should pursue CA; but, if you excel in the theoretical, you should pursue CS.
Every candidate who plans to sit for the CS examination must be at least 17 years old. The examination is not open to students under the age of 17.
If a candidate has earned their degree from a recognized university, they can also complete the company secretary course in two years since graduate applicants can skip the CSEET exam.