A company is managed by a Board of Directors, and is governed by the Companies Act. A secretary to the company is a link between the company and the outside world. He puts the company’s seal, and signs on behalf of the company on communications. He sees to it that the company complies with the provisions of the Companies Act. A secretary writes the minutes of the Board meeting. A secretary must be communicative enough to liaise with Board members and shareholders alike.

A company secretary can report to the CEO. He could be given the status of Chief Operating Officer ( CXO ). Alternatively, he could report to the legal head or Chief Financial Officer ( CFO ).

There are 40,000 practising company secretaries in India. In India, we have Institute of Company Secretaries of India which conducts the CS examination. It certifies around 3500-4000 students a year. Each large corporation requires at least 16-20 company secretaries. The talent pool is limited. This dearth of talent leads to poaching.

Apart from working as secretaries, a CS qualified candidate can work as a CFO, if he has qualifications in finance, and additional qualification of CS. Even a legal head can have additional qualification of CS. Smaller firms have to CS, CFO and legal head, all combined into one.

If a company secretaryworks as CXO, he gets a package of Rs. 1 to 1.5 crore. If he reports to CFO or legal head, he draws Rs 50 — Rs.80 per annum.