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Who is a Company Secretary?
Responsibility without power, the fate of the secretary through the ages ~ Ariel Dorfman
A career as a company secretary is regarded as one of the senior-most positions in a private company or in a public sector organisation. In Western parts of the world, a company secretary is generally known as a corporate secretary or corporate lawyer; but a company secretary does a lot more than just handle legal matters.
Individuals in the company secretary's career supervise the legal decisions pertaining to the management and business of any corporation. The company secretary's job description involves a strong administration within the firm, managing compliance, and ensuring that all the decisions taken by the board of directors are implemented thoroughly.
Quick Facts for Company Secretary
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Average Salary in India
₹51000
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Suitable for
Male, Female
A career as a company secretary suits everyone who is responsible enough to handle legal tasks, and curious enough to reach the depth of the truth. Anyone with appropriate skills and the zeal to excel in the field can choose to have a career as a company secretary.
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Any special needs
Yes
There are no restrictions to studying business and law to have a career as a company secretary. Anyone with special needs can also become a company secretary. Company secretaries are required to be skilled mentally, and hence people with a physical disability can choose to have a career as a company secretary.
Table of Contents for Company Secretary
What is the role of Company Secretary?
Individuals in the company secretary career are the legal faces of the company.The company secretary's job description includes establishing a thorough communication with stakeholders, to ensure that the company is paying the dividends and maintaining the documents, such as lists of directors, annual accounts, and shareholders.
The company secretary employed in the development of the strategy should achieve targets and evaluate what initiatives workers actually need to implement.
The company secretary is responsible for preparing reports to establish future assumptions and strategies.
The Secretary of the company is responsible for analysing the market.
The Company Secretary needs to be up-to-date about what is really happening in the market.
Strategic planning
A strategy is a blueprint tailored to support organisational objectives and goals, investment, financial reporting, market conditions, demands from stakeholders and so much more. Strategic planning refers to the process of designing the goals of an organisation, and then enforcing that perspective through particular, clear objectives. The company secretary employed in the development of the strategy should achieve targets, evaluate what initiatives workers actually need to implement and motivate the company to accomplish that objective.
Reporting
Reports could also include useful insights that might be used to establish future assumptions, marketing techniques, assistance with financial accounting and strategic thinking and decisions making improvements. Regular reporting during the financial year helps businesses to assess and equate their services to those in a similar industry. Reporting helps companies, corporations or the government to make accurate decisions. It is also an institutional medium of communication between the business and the employees.
Research work
The primary goal of the research is to practice, illustrate an idea and make a significant contribution to developing knowledge in this field of study. A technique for creating awareness and improving skills. Includes understanding and spreading awareness of numerous issues. Research always tends to focus on reinforcing a situation in a particular business. Companies need significant research work because they motivate staff to identify the institution's structural elements. The Secretary of the company is responsible for analysing the market.
Trend research
Trend research is needed to improve the business by allowing to make improvements that do well enough for the organisation. Trend research provides valuable knowledge which can help drive better decision-making on the long-term strategy as well as some solutions to promote the business. Trend research accumulates data from a specific population identified by a specific trait, such as cultural context. Company Secretary needs to be up-to-date about what is really happening in the market.
Types of a Company Secretary
There are various types of company secretaries like private secretary, embassy secretary, and others. This may depend on factors like skills, knowledge, and experience. Here, in this section, we will be discussing various types of a company secretary or company secretary career options.
Private secretary: Private secretaries correctly manage a variety of tasks and therefore need to establish strong connections with the client. This involves identifying the needs and expectations of the individual. Good interpersonal and planning skills are also required for the private secretary job. The private secretary will set dates for conferences, business meetings, and appointments. Private secretaries even sometimes communicate with others about discussions and other events.
Secretary of Government department: Secretaries within the Indian government are the government's head officials or ministries and hold positions like Home Secretary, Finance Secretary, Railway Board members, Defence Secretary and Telecommunications members. Secretary to the Government of India is a post and a position underneath the Central Staffing Scheme often referred to simply as Secretary.
Embassy secretary: The responsibilities of an embassy secretary comprise his minister's employment for administrative items, producing detailed information to the state secretary, or even other foreign ministers, often rough drafts. He or she reports essential political, social, economic, army, and other activities occurring in the host nation to their respective governments.
What is the workplace/work environment of Company Secretary like?
In the career as a company secretary, one establishes an entity that complies with the relevant laws and regulations, which further requires members of the committee to be informed of their legal obligations. To help companies and organisations, he or she can translate analysis and information into simple English so that they can understand how to make better market decisions.
Does Company Secretary require travelling?
Likely
In a career as a company secretary, some travel is necessary. It happens when the secretary of the company needs to go to see the client or work at the workplace of the client. Individuals in the company secretary career travel both internationally and domestically frequently for the purpose of providing guidance, and supervision for major shareholders or other related companies.
Employment Shifts
Full Time
In the career as a company secretary, one works full-time, but schedules can vary by duties.
Employment Nature
Permanent
In the career as a company secretary, one generally works on a permanent basis. They consult with their colleagues about tasks or communicate with clients across the globe. Individuals in the company secretary career may need to be able to move to meet clients, and working conditions can differ depending on the location of the customer or organisation we deal with.
Work Place
Office
In a career as a company secretary, one usually works in an office environment setup.
Presence in Geographical Area
Urban
In rural areas, the opportunities the company secretary has are fewer than in urban or semi-urban areas. Most company secretaries are primarily working in urban areas because there are several major corporations located in metropolitan centres. Though in rural areas it is rising day by day.
Time Pressure
Likely
In the career as a company secretary, an individual is likely to face time pressure. There are times when the company or organisation has to deliver a big project. In such cases one has to work under time pressure. Individuals in the company secretary career may have to work extra hours in case of pending work and strict deadlines.
Overtime Details
Individuals in the company secretary career may have to work extra hours in case of pending work and strict deadlines.
Weekly Hours of Work
Min 54 Hours
The company secretary works 54 a week, which is nearly nine hours per day. Company secretary's work falls under certain shifts, although they may work long hours to solve problems in various types of projects.
How to become a Company Secretary?
Steps to become a Company Secretary
Becoming a Company Secretary (CS) is a promising career choice that opens doors to the heart of corporate governance. This step-by-step guide on how to become a company secretary will illuminate the path to this prestigious role, outlining the essential qualifications, educational requirements, and skill sets needed to thrive in this dynamic profession.
What are the skills and qualities required to become a/an Company Secretary?
In order to make a career as a company secretary, an individual must possess some skills. Here, in this article, we will discuss how to become a company secretary. The important skills one must have, to be a company secretary are:
Commercial awareness: It is really about understanding just what is happening in the world and evaluating how that could significantly impact the specified companies and industries. Commercial awareness is the capacity to find out what makes a company or organisation, by either purchasing and selling products or offering services to the industry, successful.
Strong administrative skills: As a company secretary, administrative skills are essential to keeping business operations functioning properly. Any effective, productive company must have a company secretary with strong administrative skill sets. This may include obligations like filing papers, consulting with different stakeholders, sharing relevant information, implementing policies, and responding to questions from employees and others.
Analytical skills: This skill includes predicting future market dynamics and identifying the different advantages and risks of a specific pathway. Analytical skills are useful as it helps individuals to come up with solutions to multiple situations and determine what measures should be taken immediately. Acknowledging challenges and assessing the circumstance for potential solutions is a key competency at all stages.
Communication skills: Secretaries in a company experience several difficulties and challenges due to the lack of adequate communication skills and competencies that are required to perform the office job. Communication is basically art, and are among the basic resources required for the successful functioning of secretaries within the organisation. Secretaries work with agility, courage and determination to really be capable of performing well in an office.
Judgement skills: As a company secretary, one must possess the ability to draw reasonable, logical conclusions or assumptions from the limited information provided to them. A company secretary's job is to consider these judgements critically so that he/she can anticipate potential areas of weakness in one’s argument that must be reinforced against.
Research skills: A company secretary is required to perform extensive research work into relevant facts. No argument, especially legal, can be won without indisputable facts. A company secretary job includes being able to research quickly and effectively is essential to understand one’s clients, and their needs, and to prepare legal strategies.
Perseverance: In a career as a company secretary, one must have the perseverance to complete the work necessary to drive it to a successful finish. “Perseverance is not a long race, it is many short races one after the other.”
Creativity: Very successful company secretaries are not only analytical and logical, but they also display a great deal of creativity in their problem-solving. The best approach is not always the most obvious and in order to circumvent one’s challenger, it is often necessary to think outside the box.
Which certifications and internships can be helpful in becoming Company Secretary?
Internship Availability
Internships are seen as the best opportunity to obtain knowledge in the chosen career of a person. These have real-life experience and also an incentive for him or her to bring the theoretical concepts into real practice. Candidates are required to do an articleship throughout for at least 12 months, 15 months or three years in order to make a career as company secretary.
Company Secretary Jobs and Salaries
Chief administrative officer
- Average Salary 60000
Job Description
Chief administrative officer has to supervise the administrative and managerial activities of the organization in the position of the chief administrative officer. They are liable for the safeguarding of all business legal records as well as other confidential information.
Salary Description
Chief administrative officer income is extensively important for decision-making and experience. Chief administrative officer earns on average Rs. seven to eight lakhs per annum. At the initial point, they receive more than eight lakhs a year but gradually achieve more than twenty lakhs at the senior level of their career.
Principal secretary
Permanent
- Average Salary 60000
Job Description
The principal secretary is a rank in Indian state governments. The holder of the leadership role is usually an IAS officer and a high pay government employee. The primary tier officers of the secretary are commonly the organisational heads of department heads within a state government.
Salary Description
The best way to earn good salaries in this sector is to gain more experience in this sector. They get an immense amount and more than many other careers at the initial stage of their career, which is almost Rs. nine lakhs every year but they eventually receive over twenty-five lakhs at senior level.
Associate Company Secretary
- Average Salary 33000
Job Description
The Junior Associate job description includes guiding the chairman and the board with various rules and regulations, maintaining statutory books, and filing documents of annual tax returns and audit reports. An Associate Company Secretary monitors changes in legislation and liaises with lawyers and auditors.
Salary Description
An Associate Company Secretary salary in India ranges between Rs 2.2 Lakhs to Rs 8.2 Lakhs with an average annual salary of Rs 4.2 Lakhs per annum. The Associate Company Secretary salary in India may vary depending on various job factors like the skills and experience of the candidates, job location, and others.
Salary Source: AmbitionBox
What is the job outlook for Company Secretary?
Organisations are increasingly demanding to illustrate corporate transparency and accountability in handling their internal affairs. Also, there is a need for different stakeholders to retain credibility. Because upper management will be too busy building overall organisational work and the whole new opportunity could only be lifted up by some talented and skilled professionals.
As a company secretary's role has also progressively become essential to a company entity's proper operations, and so has the demand for this job position. They do not just hold the highest position in the organisational structure, but the role is highly significant within the entire organisation and outside of it. This work profile offers all enjoyable career opportunities combined with countless challenging circumstances.
Frequently Asked Questions for Company Secretary
Que. What qualifications do you need to be a company secretary?
Ans.It is important that you have a degree or professional qualifications in accounting, law, accountancy, business or public administration in order to make a career as company secretary. You are also required to have appropriate experience in business in these fields like insurance, accounting, credit management.
Que. How can I become a company secretary after 12th?
Ans.Applicants who have already completed Class 10+2 or any equivalent with an aggregate mark of at least 50 per cent from a recognised board could also pursue a company secretary course. The applicant has to register with the Indian Institute of Company Secretaries to follow the course and receive the company secretary degree.
Que. Is maths compulsory for company secretary course?
Ans.No, mathematics is not mandatory for the secretary of the company. It is the course that can be followed in 10+2. India's Institute of Company Secretaries is an institution that provides company secretary exams, and the company secretary course consists of three foundation levels.
Que. Can we study the Company Secretary course at home?
Ans.The best solution is to study through the module. The institute-based module is published, so nothing else will arrive in the exam question instead of the module. Whenever you are learning, open the module at home, read the one page first then learn what is in it.
Que. Name some of the top colleges to pursue company secretary course.
Ans.ICSI or the Institute of company secretaries of India is the best option for individuals to make a career as a company secretary.
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Questions related to Company Secretary
how to become a company secretary
Hello aspirant,
Applicants must have completed their 10+2 education from an accredited board of education in order to be eligible for the Company Secretary program. Candidates for the Company Secretary program gain expertise in tax returns, bookkeeping, financial analysis, and the legal facets of running a corporation.
To know complete process of becoming a Company Secretary, you can visit our website by clicking on the link given below.
https://www.careers360.com/courses/company-secretary-course
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