ICAP Articleship Stipend 2026: Official Minimum Rates for Every Training Route

If you are about to start training, the ICAP articleship stipend is probably the first number you want to know. ICAP sets a minimum monthly stipend that every training organization must pay, and it revised those rates with effect from July 1, 2026. Below are the official minimums for each training route, taken from ICAP's stipend rates page. Rates are as of October 2026; confirm on icap.org.pk because ICAP revises them periodically. These are floors, not offers: a firm may pay more, but not less.

Route 1: CAF Passed, 3.5-Year Training

This is the traditional route for CAF-passed students and the one most Big 4 trainees are on.

• On commencement of training: Rs. 27,500 per month
• On passing four CFAP/MSA papers or more: Rs. 38,500
• Qualified, with more than six months of training remaining: Rs. 55,000
• Qualified, with six months or less remaining: Rs. 93,500

Notice how the structure rewards exams. Your stipend does not grow because you have been at the firm longer. It grows because you passed CFAP papers. The jump from Rs. 27,500 to Rs. 38,500 comes at four CFAP papers, and the big jump comes when you qualify. Every session you pass during training is, quite literally, a raise.

Route 2: CAF Passed, 2.5-Year Uninterrupted Training

The Education Scheme 2025 added an option of 2.5 years of uninterrupted training with reduced leave. You sit CFAP after completing the full training period. Here the stipend steps up with time served:

• On commencement: Rs. 27,500 (CAF passed or other graduates) or Rs. 34,100 (graduates of SDAI/RDAI)
• On completing one year: Rs. 35,200 or Rs. 41,800
• On completing two years: Rs. 44,000 or Rs. 49,500

SDAI and RDAI are ICAP's specified and recognized degree-awarding institutes; the list is on ICAP's site.

Route 3: Training After Four CFAP Papers or Two Years After CAF

The other new option lets you start a 3-year training period after passing at least four CFAP papers, or two years after passing CAF, whichever comes first. The minimum rates:

• On commencement: Rs. 27,500 (CAF passed or other graduates) or Rs. 34,100 (SDAI/RDAI)
• After 18 months of training and on passing four CFAP papers: Rs. 38,500
• Qualified, with more than six months remaining: Rs. 55,000
• Qualified, with six months or less remaining: Rs. 93,500

Route 4: Four-Year Graduates (3-Year Training)

• Graduates from SDAI/RDAI: Rs. 34,100 on commencement.
• Four-year degree holders from other degree-awarding institutes with a major in accounting or finance: Rs. 27,500 on commencement.
• For both: Rs. 38,500 on passing four CFAP/MSA papers, Rs. 55,000 when qualified with more than six months remaining, and Rs. 93,500 with six months or less remaining.

Route 5: Other Qualifications, Including 14-Year Associate Degrees (4-Year Training)

• On commencement: Rs. 24,200
• Then the same steps: Rs. 38,500, Rs. 55,000 and Rs. 93,500.

Which Training Option Should You Pick?

The option you choose is irrevocable, so do not decide on the starting stipend alone. Think about it this way:

• The 3.5-year route lets you sit CFAP once you complete twelve months of training, and it does not carry the reduced leave that ICAP attaches to the two newer options. It suits most students, especially those aiming for a Big 4 firm.
• The 2.5-year uninterrupted route gets you through training fastest with predictable raises, but you cannot sit CFAP until training is complete. It suits people who want to focus fully on work first and are confident they can return to exam mode later. That is harder than it sounds.
• The CFAP-first route lets you attack four CFAP papers before joining a firm, while the material from CAF is still fresh. The catch is that you are not earning a stipend while you do it.

The full rules for each option are in ICAP's Education Scheme 2025 documents and summarised in our Education Scheme 2025 guide.

What About Big 4 Pay?

ICAP publishes only the minimum. Firms set their own packages, and they change every year, so I will not quote figures that I cannot verify. The best source is trainees currently at the firm. Ask them at induction events or on LinkedIn. More important than a few thousand rupees a month is the quality of exposure and how seriously the firm respects study leave. My articleship survival guide covers what to look for.

Getting Into a Good Training Organization

Induction season is competitive, and your CV is often the first filter. Keep it to one page: your CAF results by paper, any merit positions, relevant skills (Excel, data tools), and a short line on what kind of training you are after. Our free CA induction CV maker is built around exactly what Pakistani firms look for, so you are not fighting a generic template.

And remember the structure above: the stipend rises fastest when you pass CFAP papers. Keep your exam momentum going from day one of training.

FAQs

What is the ICAP minimum stipend in 2026?
For a CAF-passed trainee on the 3.5-year route, Rs. 27,500 per month on commencement, effective July 1, 2026.

What is the stipend after qualifying during training?
Rs. 55,000 per month if more than six months of training remain, and Rs. 93,500 in the last six months.

Do Big 4 firms pay more than the minimum?
Firms can pay above ICAP's minimum and set their own packages. Ask current trainees for up-to-date figures.

Can I change my training option later?
No. ICAP states that once you opt for a training option, the decision is irrevocable.