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Horrible results of recent icai campus placement programme!

CA Srikanth Yadav (Chartered Accountant) (3162 Points)

02 May 2012

In the ICAI Campus Placement Programme February-March, 2012, the Number of Jobs Offered were as low as 874 when the Number of Candidates Registered was 9717. So the Percentage of jobs offered vis-a-vis registered candidates is less than 9.00%.

So 91% of the members participated in the programme were unsuccessful!

Please click here for the brief details of the same: https://220.227.161.86/26670cajournal_may2012-29.pdf

What does this mean? Are the newly qualified members lacking in their skills? Or the requirement of the number of Chartered Accountants for companies and firms is very less compared to the number of Chartered Accountants available to work? Or ICAI should be blamed in this regard for not getting enough recruiters?

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13 Replies

(Guest)

What is highest package?

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Proshanto Kundu (CA-Final STUDENT ) (235 Points)
Replied 02 May 2012

TRULY HORRIBLE N TERRIFTING!!:((

CA Srikanth Yadav (Chartered Accountant) (3162 Points)
Replied 02 May 2012

Originally posted by : Rajesha
	What is highest package?

Rs. 14 lacs p.a. for domestic posting and $50,000 p.a. for international posting.

2 Like

Go green (ICAI) (666 Points)
Replied 02 May 2012

Originally posted by : Srikanth
	Or ICAI should be blamed in this regard for not getting enough recruiters?

ICAI has to think very seriously whether they doing their best to help newly qualified CAs. A Meagre 76 Organisations have pariticipated in this Placement Program all over India!

1 Like

Anand (FINAL CA) (1116 Points)
Replied 03 May 2012

quality of the candidate matters i guess....the companies intend to hire students as per specialisation(likewise in big 4) or having all round experience(likewise in small n medium firms)....still confused wat the companies want ??????

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CA.Hrusikesh. (Manager-Assurance & Tax.) (28 Points)
Replied 28 August 2012

The result of icai up to nov 2010 is below 10%,and from may 2011 is above 20% its doubled the pass %,and the vacancy in the organisation not as per the results,Please see the pass % in the attached file.

Attached File : 692288 1045575 pass of ca students.xls downloaded: 450 times

IMTIYAZ AHMAD (Self Business) (26 Points)
Replied 17 September 2012

how many numbers of members of icai in september 2012

Sharma (---) (36 Points)
Replied 26 October 2013

$50000 might be high as per Indian standards ,

But it is the average salary that a commerce graduate gets in USA or in other countries after finishing his bachelors in accounting(not even CPA)....

I am not demotivating but for the hard work which CAs do, they don't deserve these kind of salaries. And even they possess higher amount of knowledge when compared to any other MBA guy in Finance.

I know a guy who had excellent communication skills/ public speaking skills from ICSE. Though he had great percentage in 10th,12th and B.com(Hons.), he ended up getting a mediocre job only for failing one subject in CA.....now he is doing an MBA from one of the best institutes in India....

I just wanted to ask the recruiters one question i.e., "What do we lack ??? Where do we lag when compared to MBA graduates???"

(Guest)

Picture is even worse in August- September Campus Placement. We can't blame anyone or we can blame everyone as everyone's duty is no one's duty. We all know it is because of bad shape of Indian economy. Growth prospects are not promising, political stability and good governance is lacking. Even international rating agencies have brought credit rating of Indian economy down keeping in eye lack of political will. I remember in the year 2009 just after first global slowdown (when I was in PCC) there was a hype for a big Boom that never happened, but due to that hype there were reports that CAs will not be available for even 10 lakhs P.A., average salary of CAs was 9 lakhs P.A.(due to such hype reports) at that time as per news reports.Other big factor is liquidity tightening by RBI to curb inflation resulting heavy depression in banking sector; one of the biggest hirer of CAs. In normal times a big bank like ICICI and two or three big corporate like ITC TCS would hire 250 300 CAs each and rest of the companies would fight for the rest. At this stage of economy there was only one bank Federal bang participated placement and they made CAs fight to each other.

Nikhil Kaushik (Fellow CA) (85709 Points)
Replied 29 October 2013

Well, its all demand and supply. Plus, there is a very urgent need to us, CAs to upgrade our skill set. We get beaten by MBAs in presentation and by lawyers in legal. So all that is left is back-office work.

We rarely focus on soft skills. GMCS is just a formality for us.

For me what is terrifying the quality of question qualified chartered accountants ask in this forum itself. even basics are off the mark.

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Sharma (---) (36 Points)
Replied 29 October 2013

Originally posted by : Nikhil Kaushik
	Well, its all demand and supply. Plus, there is a very urgent need to us, CAs to upgrade our skill set. We get beaten by MBAs in presentation and by lawyers in legal. So all that is left is back-office work. We rarely focus on soft skills. GMCS is just a formality for us. For me what is terrifying the quality of question qualified chartered accountants ask in this forum itself. even basics are off the mark.

GMCS will not even help you to clear the Group discussion and personal interview of IIMs and other b-school selection processes....

The most dissapointing thing about CAs is that we are not able to get the salary of a tier 2 MBA college graduate even after working so hard for 3-4 years(can be more in most of the cases).

The tough CA syllabus has got no use as the problems we solve in class are redundant and have no application in the present scenario. The syllabus should be made more relevant to that of MBA or any other internationally accepted courses so that CAs can give a tough competition to the other professionals.

Nikhil Kaushik (Fellow CA) (85709 Points)
Replied 29 October 2013

Dear Sharma,

What I mean is that for us anything related to soft skills is just a formality. No one makes any effort to improve on that front.

With regards to syllabus, I don't think there should be any comparison between MBA and CA. We serve two different markets. Though, there is definitely scope for us to borrow certain aspects of MBA learnings. Rather the problem point is availability of hundreds of coaching institutes spoon feeding answers to CA students, enabling them to clear CA exams without any grip on the practical aspects of the profession.

Sharma (---) (36 Points)
Replied 29 October 2013

No Mr.Nikhil, you completely misunderstood the concept which I have said.

Audit(both internal and external) , Accountancy, Tax are too traditional to prefer for any chartered accountant unless he has skill/talent/interest in it. The main preferred line is Finance. Financial Advisory, Management are the best and evergreen in the industry and one can even take up the courses like CFA,FRM after getting into those jobs as it even serves the criteria of relevant work experience for such courses. CAs are many times called Tax and Finance Professionals and I would request you to see the tag line of our website Caclubindia.com(you will find it). MBAs are giving tough competition to us in these kind of jobs and our CAFM,SFM have to be updated and should be more relevant to the present scenario.

Coming to the coaching classes, almost everyone takes coaching for CA( even students from SRCC, St. Xavier's and other top colleges are no exception). Even I took my coaching from a esteemed coaching institute in Hyd. for IPCC as it is tough to compete with self study in current scenario. I wasn't spoon-fed but everything was just presented and prioritized keeping exam and marks in mind.