CA 3 years stipend less than FMS 2 months-IIMs incomparable

Rahul Agarwal (Chartered Accountant) (213 Points)
Replied 18 December 2010

I totally agree about the low stipend rates announced by ICAI. It doesn't even fulfill the basic requirements of a student..not even meals...Comparing the work extracted out of articles, they are given just peanuts!

Suresh Prasad (www.aubsp.com) (15630 Points)
Replied 18 December 2010

I think if institute/ firm demand some money for training we should pay that because this period help us not only in exam hall but even in interview and in Practicle field ...................

So Dont' worry for low stipend rates announced by ICAI....................

vardhaman (Artical) (32 Points)
Replied 18 December 2010

yaaaaaaaaaa

i agree with its necessary to increase stipent

we are doing articalship.......... but we working so much not a icai working hours

principal earing so much by doing work with assistance and they pay high salary to employee

artical & employee work is same

(Guest)

Originally posted by : shinoj
	The stipends for internships increased considerably this year in comparison with last year. For instance, the average overall stipend for Delhi University's Faculty of Management Studies rose by 42 per cent from last year's60,000 (approx) to85,000. The highest domestic stipend offered by an investment bank (for domestic location) at FMS stood at2.5 lakh, a hike of 150 per cent as compared to last year's1 lakh. The average monthly stipend, on the other hand, for IIM Indore was40,000 - a hike of 60 per cent as compared to last year's25,000. (See table 1) The number of companies flocking to B-Schools to hire interns has also jumped. Around 180 companies had registered to visit IIM Bangalore this year and the entire batch was placed in 127 companies. Around 120 companies had confirmed their participation for summer placements in 2009. Similarly, 163 companies made 456 offers for 414 students at IIM Lucknow in 2010 as compared to 127 companies in 2009 which offered 401 internships for a batch of 315 students. Now don't say learning is important :)Not only IIMs even others r too ahead of ICAI's campus..and ICAI annouces we have doubled ur stipend from rs1000 to rs2000 what an increase :)Considering work done by article clerk minimum rs 10,000 per month should be given..also quality of articleship clerk is btter than paid assistant hired by CA..

haha, shinoj ji what u have said it true. If ICAI does like this, it is only going to suffer. See, in Big 4 how much professionalism they are maintaining.They are paying articled trainees also in Rs.10,000s, treating them like true professional students, providing a good working environmentand also providing them a good amount of leave. As a result, u can find that the results of students appearing from big 4 normally is good and also they are able to negotiate better from the Interviewer companies. Recent rankholders in FInal like Sanji Aggarwal, Ruchika Katyal, Akram Jamal,etc. come from Big 4 and u can see where they got placed. One thing which i can observe from these people is that Big 4 has provided has provided the right environment to the future CAs and yes, they too made good use of it. Over the past 60 years, very few Indian firms are providing the quality of services at par with Big 4. Hope, ICAI wakes up soon and stops giving excuses like "the quality of students taking CA has come down, students have to change their attitude,etc." The essence of education lies where it helps a person in building his strengths and shine on it and not by harping on their weakness and making life a hell for those who take it.

M .K. Jha (CA Final) (484 Points)
Replied 18 December 2010

Originally posted by : Rahul Agarwal
	I totally agree about the low stipend rates announced by ICAI. It doesn't even fulfill the basic requirements of a student..not even meals...Comparing the work extracted out of articles, they are given just peanuts!

Ya this is right

(Guest)

Originally posted by : Suresh_Smiter
	I think if institute/ firm demand some money for training we should pay that because this period help us not only in exam hall but even in interview and in Practicle field ................... So Dont' worry for low stipend rates announced by ICAI....................

agree with suresh

shinoj (ab) (1201 Points)
Replied 18 December 2010

@ suresh

u should give at least10000 per month to ur principal to learn auditing/taxation/auditing,thats what u want.One question then why companies giving so high stipend to MBA grads?that too for 2 months?do u think ca articleship clerk can not do anything for 3 years what MBAs can do in 2 months?i think u r not student but practicing CA.

@ Sreev

yes working in big 4 is btter than so small firms..they pay atleast rs 10000 n brand name also counts alot.But one correction working in Big 4 n passing exam not related.Any body working in medium seized firm stands the same chance of clearing the exam as in big 4..Sanjhi Agrawal,ruchika katyal both r gold medalist in B.com so quality matters alot.

Rajan Gupta (C.A. final student) (277 Points)
Replied 18 December 2010

Don't bother about stipend ....

Take a dummy instead ... Articled training doesnot help anyone ...

its not even helpful for passing the exams....

(Guest)

Originally posted by : shinoj
	@ suresh u should give at least10000 per month to ur principal to learn auditing/taxation/auditing,thats what u want.One question then why companies giving so high stipend to MBA grads?that too for 2 months?do u think ca articleship clerk can not do anything for 3 years what MBAs can do in 2 months?i think u r not student but practicing CA. @ Sreev yes working in big 4 is btter than so small firms..they pay atleast10000 n brand name also counts alot.But one correction working in Big 4 n passing exam not related.Any body working in medium seized firm stands the same chance of clearing the exam as in big 4..Sanjhi Agrawal,ruchika katyal both r gold medalist in B.com so quality matters alot.

@ shinoj: Sir, u have misunderstood me. I didnot mean that one needs to do articleship in Big 4 necessarily to get top ranks in CA final. yes, Prajita Balavinodan, Giriraj Ajmera and Vikesh Mundra are there who are non big 4 trainees who have secured top ranks in CA Final exams. But the thing is that in Big 4, they maintain such a professionalism, they dont underestimate any one's talent and they provide a room for good improvement in work as well as now a days big 4 are giving bumper 4 to 5 months leave. Thats what i mentioned. See, in small firms also i have seen intelligent persons like Sanjhi Agrawal, Mandar Dixit, etc. who have been securing good marks in their school or grad but the way they are treated, they loose the passion of doing CA and as a result they get poor marks in CA exams. and ICAI will keep on harping that Quality of students have come down and blah blah without realising that It is their fault that they are not utilising students talent efficiently and considering them as money making devices. Small firm auditors will be blaming Big 4 for pooling their talent but every brilliant student in the current scenario wud love to work in big 4 considering the opportunities provided by them for honing their skills as well as considering that many recent CA passouts are more interested in joining Industry rather than starting a firm and proving themself

Hardik Dave (IPCC and CS Professional(FINAL) Student) (15533 Points)
Replied 19 December 2010

Stipend is low in articleship is true,buu why we are nt think that we have learns lots of knowledge and work frm articleship, i heard that stipend increase up to double

shinoj (ab) (1201 Points)
Replied 19 December 2010

@ sreev

Sanjhi agrawal n mandar both r from big 4..sanjhi EY;Mandar-Deloitte.U written both mandar n sanjhi got poor result in ca ?both r gold medal in ca final..

But yes if one gets oppotunity to work in Big 4 one must not join small firms..

@ Hardik..

yes stipend is dubled from1000 to2000-go buy a car from it :)

(Guest)

Originally posted by : shinoj
	@ sreev Sanjhi agrawal n mandar both r from big 4..sanjhi EY;Mandar-Deloitte.U written both mandar n sanjhi got poor result in ca ?both r gold medal in ca final.. But yes if one gets oppotunity to work in Big 4 one must not join small firms.. @ Hardik.. yes stipend is dubled from1000 to2000-go buy a car from it :)

No Shinoj sir, read what i have said clearly. i have said persons who just like Mandar and Sanjhi(It is like Mandar and Sanjhi and not Mandar and Sanjhi) have got good academic track record before they joined articleship i.e till they did PE2 but in CA final they have struggled at the hands of small firm auditors and lost passion in studies cos of the slum work and pathetic treatment given by many small firm auditors. I said persons like Mandar and Sanjhi's capacity and not Mandar and Sanjhi directly. I know very well that Mandar(interns in Deloitte and HSBC) and Sanjhi (intern in E and Y) got gold medals in CA FInal. I just meant persons who have good intellect like these people who did articles in small firm instead of firms with the professionalism of Big 4 have performed poor in CA Finals. hope u get what i say

(Guest)

Originally posted by : Hardik Dave
	Stipend is low in articleship is true,buu why we are nt think that we have learns lots of knowledge and work frm articleship, i heard that stipend increase up to double

Boss, See practising auditors are making good amount of money because of the hard work of articled of articled assistants. ya, stipend need not be too high but it should be rationally good in the sense that it compensates ur cost of studies(CA is said to be cheap course but in the recent times havent ICAI been increasing fees of registration telling that inflation needs to be met and blah blah), cost of travelling( with Rs. 1000 - 1500 as stipend it is difficult to meet the cost of travelling in cities like Chennai or Mumbai or Delhi,etc.) and Opportunity Cost of doing CA(ICAI has banned trf, placed restrictions in doing additional courses, doing other income earning activities saying that students are not serious, we are increasing the qualities of articleship and blah blah) IF stipend is increased from Rs.1000 to Rs.2000 or from Rs.1500 to Rs.3000, how far is it going to meet the above needs??

shinoj (ab) (1201 Points)
Replied 20 December 2010

Yes like examination fees n regisration fees enhanced atleast 4 times in last 10 years why no increase in Stipend?Thats why many like to do MBA course as CA course is full of bad policies n full of exploitation....people not only take dummy to study but they don't want to work free for 3 years..if some says we get opportunity to learn so much then why MBA grads picked up for over a lakh that too for 2 months?ICAI can not compete Tier 2 Mba grads in salary in campus forget IIMs n other ivy league b-schools..ICAI just providing cheap labours to practicing CAs..