Scope of CS as a Career in Mumbai
Every company, small or big, requires a legal expert who can assist them in all their legal, taxation, and other important matters. Thus, the post of a CS or Company Secretary is a highly coveted one and very much in demand in any business enterprise or even sole proprietorship.
Who is a Company Secretary and what are the roles of a CS?
The Company Secretary or CS is a person who:
- Is a legal expert who knows and understands corporate laws, corporate governance, securities laws and even capital markets, and much more.
- Is also known as the compliance officer who looks after the regulatory compliances of the company.
- Is a Legal and corporate strategist
- Also plays a pivotal role as a chief advisor to the board of directors in the company.
The job of a CS has been a very crucial one in organizations and has progressively gained a lot of momentum in the past few years, as more and more companies are looking for more transparency and accountability in their corporate cultures.
As the top-level management would be busy building up the entire organization, they clearly need someone credible enough to handle the bigger responsibilities related to their financial management, administration of their legal matters, and many other important tasks.
Therefore, the role of a Company Secretary would always be an essential one going further as well.
Let us dive a little more into the scope of a CS career, your future as a CS, salary packages and roles, demands for the role of a CS, types of jobs that you can get after your CS, and much more.
What is the salary of a Company Secretary in Mumbai?
As a CS, your salary would depend upon plenty of factors, such as your overall experience, the location of your job, your exposure in the industry, your academics and overall education, the organization you are working for, etc.
Also, a lot depends upon the job role you take up, for example, if you are a Chief Administrative Officer in any organization, your salary as CS would be anywhere close to 7-8 lacs per annum as a beginner. Gradually, with experience and exposure, this amount is bound to increase manifold.
Similarly, if you are working as a Principal Secretary in the government, your salary as a CS would be between 9-25 lacs depending again, upon your experience and tenure.
What is the starting salary for a Company Secretary in Mumbai?
Mumbai hosts a lot of organizations, be it government, private, humongous MNCs, etc. Therefore, there are a lot of opportunities constantly growing for the role of a CS in such organizations.
Talking about the starting salary packages, on average, you can expect anywhere between 3-7 lacs per annum as your package. However, you must remember that a lot depends upon your skill sets, knowledge, expertise, exposure to the industry, experience, overall educational qualifications, etc. Also, your pay packages would differ from person to person or company to company.
Therefore, acquiring a good score in your CS exams, studying thoroughly strengthening your academics, grooming yourself with more confidence, preparing yourself for the further responsibilities in your job, mastering your subjects, etc. are some of the most important things that you must remember to do before you start looking out for a job as a CS.
Does CS have scope in future?
Company Secretaries are required everywhere, be it in India or Globally. All you need is the right attitude, good exposure to the subjects, like corporate laws, etc. clear your CS exams with flying colors and pursue your dreams.
Considering the significantly rising number of organizations everywhere, the demand for CS is also on the upswing. The companies not only offer you lucrative salary packages but also offer you highly coveted positions in their organization.
Also, there is tremendous scope for a career as a CS internationally these days. Companies do make sure to send their legal advisors on-site for several opportunities, especially regarding their legal matters, some corporate mergers and acquisitions, or other related things.
Note that, India’s entry into the Bilateral Comprehensive Economic Cooperation Agreements with the countries such as Malaysia, Mauritius, Thailand, Singapore, etc. has resulted in the free movement of CS professionals to and fro into these countries.
Thus the Company secretaries will have numerous opportunities not only in India, but internationally as well in the future.
This role is undying due to the fact that a CS would always be required in a company as he/she would act as a common link between the board of directors, the founders, the shareholders, various regulatory agencies and the government, who understands and knows the corporate laws inside out.
Is CS in high demand in Mumbai?
Certainly, in a city like Mumbai, you will have plenty of opportunities for a career in CS.
A large number of start-ups coming up, or the sudden boom in industrialisation, has made it really mandatory for these companies to have someone to govern their legal matters or have a certain advisory counselor.
A CS plays the perfect role in such cases. And therefore, in a city like Mumbai, which is replete with opportunities and is also popularly known as the city of dreams, you would never be disappointed.
However, a lot clearly depends upon your background, your personal and professional attitude, your zest and willingness to pursue a highly successful career as a CS, etc.
Also, talking about the scope of this field, you must remember that this field is not simply limited to private jobs and opportunities with simply MNCs. Rather, you have some respected positions open with the Government as well and you can even have your own consultancy or agency working as an independent advisor to many enterprises regarding their taxation procedures, loan procedures, registrations, regulatory requirements, partnerships, acquiring government licenses, etc.
Therefore, rest assured that the demand is always going to be on the higher side for the company secretaries no matter what.
Which field is best for CS?
The best part about a career as a CS is that you have plenty of fields or rather, sub-fields to choose from depending upon your personal interest.
Here are the several capacities in which you can work as a CS depending upon your choice of subject and interest:
- Legal Advisor – this is the most commonly selected job role and usually saves the companies from any kind of legal issues or disputes. They make sure that there is 100% compliance from the companies with the various regulatory authorities, corporate laws, bureaucratic directives, statutory directives, etc.
- Corporate Policy-maker – As the name suggests, you will have to plan long and short-term corporate policies and keep reviewing them from time to time.
- Corporate Planner – planning the expansion of the companies and looking for suitable opportunities, Usually responsible for the smooth handling of Mergers, Acquisitions, joint ventures, collaborations, etc.
- Chief Administrative Officer – they are responsible for taking care of all the important legal documentation and also look after the general administration of the companies.
- Company registrar – This is a highly revered position in any company.
- Board of Director Members – they are responsible to provide their excellent expertise and advice in many important corporate matters.
Apart from these corporate opportunities, you can even have your own individual set up as a CS consultant or independent advisor to various companies that want to hire such legal advisors to help them out with all their important company matters.
Also, you can apply for various Government jobs at good positions with your knowledge of the subject and by clearing some mandatory Government entrance exams.
You can even work as a professor or teacher at any commerce or finance institute or university.
Thus the opportunities are countless.
What job will I get after CS?
As listed above, you can apply to any of the jobs depending on your personal interest and expertise in a particular subject.
However, there are some mandatory things that you need to consider while choosing or looking for the job, such as looking deeper into the job profile, making sure this is what you are looking for as a CS, making sure that your career path in the future is decided, making sure you have plenty of growth opportunities, and most importantly, if you are happy with the package they are offering you.
Future of CS after 10 years
Considering the correct rise in the number of companies, start-ups which are growing rapidly and getting converted into bigger companies within no time, you can expect this growth to be manifold after 10 years.
Thus, compliance issues, regulatory issues, license acquisitions, solving legal matters, etc. are some of the never-ending stuff for which any company would want to have a good and highly expert CS working for them.
Therefore, 10 years down the line you can expect a great career path with plenty of growth opportunities in your career as a CS. In fact, owing to the globalization and increasing size of the companies, the roles and responsibilities of the CS would certainly increase or be modified a bit.
But this clearly means that you would have to be on your toes and try to attain the maximum latest knowledge of the laws around you, especially regarding the corporates, and possess the in-depth knowledge of all the other related subjects to make sure you provide the companies with a smooth functioning.
Thus, if you are someone who is looking for an excellent and brighter future in the field of CS, you must try joining the Wisdom Academy to gain complete insights from their expert faculty who have been there and done that.
The faculty at Wisdom Academy is extremely talented and possess great knowledge of all the subjects in-depth, and will ensure to help you master the topics within a shorter span of time. Their valuable guidance is sure to help put you on the right track right from the start and help you become a more confident CS looking forward to making your dreams come true.