SAP FICO is the Finance and Cost controlling module in SAP ERP where FI stands for Financial Accounting and CO stands for Controlling. SAP FICO module is very robust and covers almost all business process encountered in various industries. It is one of the very important and widely implemented modules in SAP.Sap Fico Highest Salary In India.
Yes, a career in SAP FICO is still very good and demanding. It is even better if you are from accounts or finance background.
SAP is the leading ERP worldwide and its popularity and demand are increasing day by day. It offers you a huge number of career options within its domain. Although SAP has launched a series of HANA versions, ECC still serves the base.
Being an SAP aspirant, it very common for you to ask this question. In fact, it is one of the most frequently asked questions relating to a career in SAP FICO.
TheHierarchy
The hierarchy positions in SAP FICO are really growth-oriented. It offers you a growth structure that goes a long way to your career. Not just this, it is flexible too. You are free to shift from ECC to Other platforms in SAP (like HANA), whenever you wish to, as they are inter-related with common concepts. This is the reason that lots of FICO consultants shift to HANA after working for a few years in ECC by upgrading their knowledge and skills.
Likewise, the career path in SAP’s other application is almost similar to SAP FICO.
There are no such minimum qualifying criteria fixed for doing SAP FICO. Anyone who has a keen interest to make a career in SAP can do SAP FICO. However, some qualifications are helpful in learning and understanding SAP FICO, if you possess. These are below:
A person with B.Com or M.Com Degree
A person with BBA or MBA qualification
Anyone who has done CA, CS, CFA
A person having working experience on any Accounting software
Or anyone who has a basic knowledge of Accounts (Accounting Terms, Journal Entries etc.)
A big number of industries are working on the ECC model and uses FICO for the functional part of their business process. As a result, lots of FICO consultants and end-users work on the implementation and support jobs. Not to forget, this is increasing day by day. Day by day, industries who working on the non-ERP model earlier are now shifting towards ERP software to manage their business in an efficient manner and to bring in transparency. Since SAP is the leading ERP software across the globe, it becomes the most demanded ERP in the industrial sector.
Since Finance and Management Accounting are two main departments of any smallest or biggest industry, an organization with SAP ERP, necessarily has SAP FICO.
Although SAP has moved way ahead of ECC by launching the HANA series (first in June 2011), SAP FICO still sustains its popularity and requirement across industries.
It is obvious that when an organization has SAP ERP implemented, they need FICO consultants too to handle their financial and controlling part. Obviously, this creates a demand for aspirants like you who want to build a career in SAP FICO.
Certainly, a lot of job requirements are being posted by employers on job sites daily. And this is nationwide. You can cross-check this on the most popular job sites to see the requirement of SAP FICO consultants in India.
Many factors contribute to guessing a salary package for an SAP FICO consultant. These factors could be:
Your Qualification and academic performance
Prior experience (if any) in ERP or non-ERP domain
How to perform during the interview
Percentage of questions answered correctly during the interview
Any additional skill you possess (that may interest the employer)
An SAP Certification (if you have)
All these factors contribute to guessing an expected salary however on average an SAP FICO consultant gets a salary within a range of 3.5 Lacs – 5 Lacs per annum.
In Project development, a beginner in SAP FICO would join as an associate consultant. After working for a period of 2 years (approx.) you can get the opportunity to become a consultant. Again after 2-3 years and with at least 3-4 end to end implementations, you would be capable of being Sr. consultant.
After this, there are more senior positions like principal consultants and then solution architect.
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