The term ‘secretary’ automatically conjures the image of a woman or man patiently taking notes from the boss, swiftly obeying orders and serving beverages to visitors. However, the term ‘company secretary’ beats this baseless perception. Company Secretary, also called Corporate Secretary in some parts of the world, is a much coveted and specialized profession that few can enter.
Definition of Company Secretary
The Cambridge English Dictionary defines Company Secretary as: “ One of the managers at the highest level of a company, who is responsible for making sure that the company is managed correctly and according to the law: A company secretary may sign official documents on behalf of the company, which are then legally binding.” Business Dictionary explains Company Secretary at length: “Officer appointed by the directors of a firm as responsible for ensuring that firm’s legal obligations under the corporate legislation are complied with. His or her formal duties include (1) calling meetings, (2) recording minutes of the meetings, (3) keeping statutory record books, (4) proper payment of dividend and interest payments, and (5) proper drafting and execution of agreements, contracts, and resolutions. A company secretary is not automatically an employee of the firm and, if employed with executive responsibilities, not be its director shareholder. If a firm has only two directors, one may act as its secretary; but a sole director may not.” As we see, Company Secretary is a very senior level management position. It attracts high salaries combined with excellent perks.
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Career as Company Secretary
Making a career as CS or Company Secretary/ Corporate Secretary is extremely lucrative. According to a report published by Mumbai-based financial daily, Economic Times, large firms pay between Rs.800.000 to Rs.1.5 million in salaries and perks to a Company Secretary.
The report further adds, demand for CS is growing exponentially in India due to companies expanding rapidly, thanks to various investor and business friendly policies adopted by the present government of Prime Minister Narendra Modi.
There are projections that more companies will require CS within the next decade, as India strives consolidate its position among the world’s leading economic and industrial nations.
Who is hiring CS?
India’s Companies Act 2013 lays down guidelines for roles and duties of a Company Secretary. Various reforms introduced to increase ease of doing business in India, influx of large foreign companies and massive Foreign Direct Investment (FDI) and Foreign Institutional Investment (FII) in India has thus led to a surge in demand for qualified and experienced Company Secretaries.
