The Recent upswing in the corporate world has bounced the demand of corporate holders. there is a fabulous demand for professionals serving corporate transparency and responsibility in managing their internal affairs.
since higher or top management of the organization is busy in managing the general working of the organization, new and forthcoming challenges can only be shoved by qualified and competent professional and company secretary is one of the leaders of the professional in handling these kinds of challenges.
The earlier role of company secretary(CS) is only managing the day to day task and providing assistance to the top management and board of directors.now CS are taking charge of various fields of the organization like legal matters, corporate governance, corporate social responsibility and ensuring compliance with securities standard (SA).
Nowadays position of a CS has very crucial in the smooth and lawful functioning of the corporate entity.The role of a CS is very important and highly responsible inside and outside of the organization.
What is The Job Prospects of The Company Secretary?
Almost all private sector firms and organization are take in company secretaries. Because of the center on the growth of the corporate sector, there is a huge engagement of legalities of diverse kinds. All this falls under the responsibility of a Company Secretary. As corporate firms need advice from individuals with a thorough knowledge of all applicable laws, company secretaries are so greatly in demand. Thus, we can conclude that the employment potential for company secretaries in the corporate sector is quite high.
Limitless governmental organizations are there in our country that takes in dynamic company secretaries. A few of those firms include:
• Bharat Earth Movers Limited (BEML)
• Neyveli Lignite Corporation Limited
• Oil and Natural Gas Corporation Limited (ONGC)
• State Infrastructure Development Corporation Limited
• Airport Authority of India
- Cochin Shipyard limited.
- Hindustan insecticides limited.MMTC Limited.
IRCON Limited.JUIDCO Limited.ANTON Limited.KSRTC Limited.OIL INDIA LIMITED.
BANKS are also hiring company secretary and very significantly also paying very high salary.one of my relative had currently recruited in bank of Baroda for annual packages of 3 lakh(he is only 6 months experience so not except too much salary beyond that).opportunitises in banks are incalculable if he get experience of at least 3-4 year he can get handsome amount of salary.so only focused on the study, not on the salary(my belief).
Company Secretary gets a job abroad too. A few different posts that are available for CS professionals include:
• Accountancy and solicitor firms
• Bank and building societies
• Employer’s cooperatives
• Housing associations
• Insurance companies
• Investment sectors
• Trade bodies
What is The Current Demand and Supply Of The Company Secretary?
As per the Companies Act,2013, every company that has a paid-up share capital of Rs 5 crores or above has to hire a full-time company secretary. The ICSI has developed and regulated the profession of company secretaries in the country. Hence, there are plentiful career opportunities for company secretaries in various sectors across the nation.
According to latest data released by ICSI, the forecasted demand for company secretary professionals is set to touch 50,000 by 2015. Presently, there are 22,000 company secretaries in the country.
What are the positives/Negatives About Company Secretary Carrier?
• The market demand for this career is on the upswing.
• There is an enormous growth opportunity in this profession along with attractive remuneration.
• This is a coveted position and swiftly gaining popularity amongst youngsters who want to make it big in the corporate world.
• There is not much appreciation for this course abroad.
• Since the roles and responsibilities associated with this position are highly accountable and visible, there is continuous pressure to deliver results.
How Many Ways Company Secretaries Can work?
- Aid to the Board of Directors: Company secretaries not only provide secretarial support to the board but also equip them with expert advice in many respects.
• Company Registrar: They are an important segment of a company’s managerial bureaucracy working in the position of the company registrar.
• Legal Advisor: As a legal advisor, they have to render aid to the company in case of any legal stuff. They also ensure that the company complies with the lawful and bureaucratic directives of the company, security and corporate laws.
• Corporate Policymaker: Company secretaries strike an important role in setting together both short term and long term corporate policies of the company. They further advise the company board when being corporate policies are produced up for review from time-to-time.
• Chief Commanding Officer: In the capacity of the chief administrative officer, they have to observe the general legislative activities of the company. They are responsible for the guardianship of all legal and other confidential documents of the company.
• Principal Secretary: They have to maintain all aspects of corporate meetings be it board meetings, annual general meetings, interplay with important clients and vendors, meetings with government and private delegations. They may also have to get up the responsibility to manage corporate events and manage clients.
• Corporate Planner: As added responsibility, company secretaries also have to keep a penetrating eye on the expansion opportunities of the company. Additional, they have to take care of collaborations, joint ventures, consolidations, amalgamation, takeovers within the country and outside.
What is the Real Salary of a CS?
CS will begin their jobs as Junior Secretarial Officer and in future will rise to higher designations, BASED on the designation of these persons and on how dedicated they are to their work.
A promising and meritorious company secretary can desire to start his career by a monthly remuneration of Rs 25, 000 to Rs 28, 000. Nevertheless, for an average and below average candidate, a monthly salary of Rs 15000-18000 is practically confirmed. Though, with time, knowledge and expertise in handling company affairs you can get a huge amount of salary.
Thanks for Reading friends.what is your take on the future prospects of the carrier of CS? let me know.if you have any suggestion, query or any feedback feel free to ask via comment.
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