YEs CA JAIN, u are undoubtedly spot on..... I m also a CA form MAy 2011 batch.... and bliv me..... there's hell lot of competiton in the market........ the reason being, lots of Fresh CAs, fewer job vacancies......
If u are ready to work for 15k-20k P.M, then u MAY, may, may find a job....... But if u dream of good packages.... then dude, u have to struggle a lot........ Many of my frnds, including me, are struggling to get job...... our conditions have bcome just like some MBAs from bullsh*t colleges.....
Never ever thought in my wildest dream that after getting a degree Called CHARTERED ACCOUNTANT, i would have to struggle for a Job.....
Anyways, i hope we may have some good news may be by the end of 2012...... until then struggle or work for somethng. As they say, its better to have somethng then nothing.....