Company Secretary
Who Is A Company Secretary?
Company Secretaries (CS) are essentially the legal experts of an organisation. As a CS, your main job is to make sure that the company doesn’t do anything illegal!
Now, as you may know, running a company is not an easy thing to do. It is even tougher when your job is to make sure that every government rule is followed and every legal requirement is complied with. You have to oversee many different aspects, like filing returns, registering forms, applications, etc. You also act as company representative, both with clients and the government.
Pro Tip: The act governing all activities of Indian companies is known as The Companies Act. Most of the work done by company secretaries revolves around this act and the constant amendments that it goes through.
Roles & Responsibilities
Advising the leadership team of the business on matters of the law. The company management might turn to you for legal advice, say, while buying another company.
Ensuring that the firm is working in accordance with the rules. You mainly have to make sure that the company complies with the Companies Act.
Updating the company management about changing rules and laws. In case there is a change, you have to let them know. You then have to follow up and make sure that the new rules have been implemented.
Conducting board meetings. Here, you have to decide the agenda of the meeting. You also have to follow up on whether the decisions in the meeting are getting implemented.
Keeping an eye on the finances. You have to make sure all the paperwork is in place and no misappropriation is happening. Once again, it’s a part of your job to protect the company’s interests!
Checking accounts of the expenditures made by company employees to prevent fraud. For this, you have to coordinate with the finance department, the Chartered Accountant, etc.
Helping the company with legal paperwork required for arranging funds. For example, the company plans to take a loan from a bank to open a new branch. The bank will ask for different documents and it is your job to make sure that all these documents are available.
Monitoring company policies like pension schemes and insurance coverage for employees. You need to check whether everyone is getting the amounts they deserve, and if the amounts are within the government limits.
Acting as a link between the company, government and regulatory authorities. You will be the point of contact between all three entities.
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What Skills Will I Need To Have To Do This Job Well?
As exciting as this sounds, there are some things you’ll need to learn to do the job right:
EXPERTISE IN LAW
As discussed earlier, a CS primarily focuses on the legal aspects of running a company. You will guide the board members on the legality of every decision. You must have an in-depth understanding of law so you can guide them properly.
GOOD JUDGEMENT
You may or may not pursue a bachelor’s degree after your junior college. CS is a professional course, which means it is not really dependent on your graduate degree. You could still pursue a B.Com., B.M.S. or a similar degree for the advantage of being a graduate. To become a CS, you have to go through four steps: a foundation programme, an executive programme, a professional programme and 15 months of training. However, good judgement is the key to success in this career.
COMMUNICATION SKILLS
You will have to communicate with people within the company. You even have to coordinate with clients and government officials. You must have excellent verbal and written communication skills as a CS. You must be able to convince multiple stakeholders, including shareholders, suppliers and customers. Your goal for every discussion and decision will be to benefit the company.
PASSION FOR LEARNING
As a CS, you will update board members and employees of the company about changing laws and rules. Thus, you will have to keep yourself updated with everything going on in the corporate world. You will need to have great passion and zeal towards the law.
PASSION FOR LEARNING
As a CS, you will update board members and employees of the company about changing laws and rules. Thus, you will have to keep yourself updated with everything going on in the corporate world. You will need to have great passion and zeal towards the law.
What Will My Workplace Look Like?
Your work is usually based out of the office. Company secretaries are highly prized in the corporate world. You will start as a junior team member in a large, multinational office. You might also be the sole CS in a smaller, less prestigious company.
If you are good at your job, you may end up with multiple perks. These include a great office space, relaxed working hours, etc. A senior CS often reports directly to the CEO or Board of a company.
As a CS, you will spend most of your time in the office. You will conduct meetings and advise people on the financial and legal aspects of various decisions. However, you may sometimes have to travel to different branches or meetings with outside officials.
What Is My Scope For Career Growth As A Company Secretary?
The scope of growth as a CS is very bright. Generally, the journey begins with your internship under an authorised CS in practice. It gives you exposure and experience in this field. If your performance during the internship is good, you may get a job offer from the same organisation.
You can also apply for a job in other companies. As you gain experience in this field, you will move to a more senior position in the company of your choice. After gaining enough experience, you could even start a private practice.
Thinking of a career as a Company Secretary? Take the Mentoria assessment & talk to our career counsellors to get personalized step-by-step guidance for your future career path.
How Much Will I Get Paid?
The exact number will depend on where you’re working, your education, skill-set and internship experience. But we can give you a general idea.
The average salary of a CS in India is around INR 5,00,000 per year. Experience strongly influences the salary in this field. Your salary could increase and reach up to INR 15,00,000 annually.
Okay, I'm sold. This is amazing
STEP 1: Class XI-XII/Junior College
You could choose any stream after Class 10. Studying commerce would be preferable, as it lays down the ground work and familiarises you with this field.
STEP 2: Graduation
You may or may not pursue a bachelor’s degree after your junior college. CS is a professional course, which means it is not really dependent on your graduate degree. You could still pursue a B.Com., B.M.S. or a similar degree for the advantage of being a graduate. To become a CS, you have to go through four steps: a foundation programme, an executive programme, a professional programme and 15 months of training. Detailed below is the path through which you can achieve this goal.
STEP 3: Foundation Programme
You can register yourself for the foundation programme. It has a minimum duration of eight months. You can study basic subjects like business management, economics and accounting. You can pursue a graduation degree alongside this professional course.
STEP 4: Executive Programme
If you want to pursue CS after class 12, you clear all the three exam levels. However, if you complete your graduation first, you can skip the foundation level and join at the executive programme level. The executive programme gives you insight into subjects like company law, economic and commercial laws, and cost management accounting.
STEP 5: Training and Professional Programme
Now that you have cleared the first two levels, you have to undergo a 15-month training period. Here, you will work under an authorised practising CS. This gives you practical experience in the field, which is very important. Usually, people finish their training and appear for the final professional programme. You could also proceed to the professional programme first and then register for training. The professional programme gives you a chance to study company law in detail. You can do this by studying subjects like advanced company law and practice, and corporate restructuring, valuation and insolvency. The next step is to apply to The Institute of Company Secretaries of India (ICSI) to become an associate member. ICSI is the governing body in India. You can now use the letters ACS, i.e., Associate Company Secretary after your name.
Congratulations, you are now officially a company secretary!
STEP 6: Land a Job
You can apply for for a CS position in any organisation. You can also start your own consultancy business. However, it is advisable to gain some experience through a job first and then start your consultancy business.
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