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Does CS have scope in the future?

Introduction of Company Secretary

According to section 2(24) of the companies act 2013, a Company Secretary(CS) is a person appointed by the company to carry out the company secretary’s responsibilities as outlined in section 2(1)(c) of the companies act, 1980.

Does CS have scope in the future?

Yes, of course CS has a great career in the future but most of the students have misconceptions about the career of the CS and they think that scope of CS is not much rewarding in India as well as abroad. After becoming CS, it plays an imperative role in managing and auditing the compliances of a company. A company secretary job is done at a high level in the fast-past era and they can get many work opportunities at national and international level. There are some following career opportunities for a CS:

Career opportunities for a CS in India:

  1. Company registrar:-A company registrar is responsible for managing the provisions and maintaining the records of the companies act and limited liability partnership act. They also oversee the compliances and legal matters of the companies.
  2. Legal Advisor:-The responsibility of the legal advisor is to give advice to clients on legal papers, decisions and issues. They manage the company’s internal and external legal matters, counsel the head of the legal department, and offer legal advice on contracts, employment, policies and disputes. 
  3. Assistant to the board of directors:-The assistant to the board of directors help the company’s to accomplish their goals and efficient strategy implementation. Assistants make communication between the company’s divisions and the director.
  4. Corporate policymaker:- A company’s short term and long term corporate policies are created by the policymakers and they adjust, change and implement the new policies, also they consult with the legal department for effective decision making.
  5. Chief administrative officer:-They are in charge of managing all general administrative operations for the company as its chief administrative officer. They protect all legal and private records or documents of the company.
  6. Principal secretary:-The principal secretary is in charge of overseeing all corporate meeting activities, including board and annual general meetings, and interacting with important clients and vendors.

Career opportunities for a CS in abroad

  1. Contract Drafting:-Contract drafting has many scope in abroad and a person who has qualified as both a lawyer and company secretary is aware of the financial and legal implications between the parties and can even assist the parties in drafting the contract. Possibility of earning via contract drafting ranges between USD 10-300 differs on the work basis.
  2. Content writing:- Content writing is another best opportunity for a CS. It has a lot of scope in abroad as compared to India. A CS can write about law and financial matters and make an effective career as content writer.
  3. Freelancer:-A CS can also find work on Upwork and Fiverr, one can find work opportunities include compliance, reviewing and vetting various company-related papers, drafting and negotiating, and even contributing to the drafting of minutes for meetings such as AGMs.

List of companies and industries who hired CS in India as well as abroad

There are some following firms and industries who hired CS:-

  1. KPMG
  2. Reliance Industries
  3. Tata consultancy services
  4. Infosys
  5. Aditya birla group
  6. ICICI Bank
  7. Amazon
  8. Google
  9. HDFC Bank
  10. Wipro
  11. ONGC (oil and natural gas corporation)
  12. Government of India and PSU’s
  13. Multinational Corporations
  • Nestle
  • Unilever
  • Shell
  • HSBC
  1. Financial services firms
  • Banks
  • Investment Banks
  • Other financial institutions
  1. Law firms
  2. Accounting firms
  3. Regulatory bodies
  4. State bank of India
  5. Congnizant
  6. Oliver Wyman etcetera

Countries where you can work as a CS

  1. United States
  2. Canada
  3. The United Kingdom
  4. Singapore
  5. Malaysia
  6. Thailand
  7. Australia
  8. New Zealand
  9. The Middle East
  10. Africa
  11. Hong Kong
  12. Zimbabwe
  13. South Africa

Salary structure of CS

Experienced based

Experience

Average annual salary

Less than 1 year

Rs. 2.5 lakhs

2-3 years

Rs. 4.7 lakhs

5-6 years

Rs. 6.6 lakhs

7-8 years

Rs. 8.4 lakhs

10-11 years

Rs. 10.3 lakhs

12-13 years

Rs. 11.2 lakhs

 

Country based

Country 

Average annual salary

India

Rs. 6,00,000

United States 

$ 1,00,000

United Kingdom

£ 50,000

Australia

AUD$90,000

Canada

CAD$80,000

Singapore 

S$1,00,000

United Arab Emirates

AED1,00,000

 

Conclusion

To sum up, CS’s have a bright future in India along with abroad. If you want to accomplish their goals then never wait for anything just start working towards being a skilled company secretary and achieve success around the world.

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Also check

Salary structure of CS

How difficult is CS?

How many attempts for CS?