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ICAI loosing Brand Value

Krunal Raichura (Financial Advisory) (2134 Points)

22 September 2009

Given below is the table showing certain figures of the Campus Placement Program of ICAI.

The numbers speak by themselves so I need not mention my interpretation.

Month - Year	Candidates		Percentage	No. of Companies	Highest Domestic Package (Per Annum)
Month - Year	Available	Selected	Percentage	No. of Companies	Highest Domestic Package (Per Annum)
Feb - Mar 2007	4296	1840	42.83%	118	10 lakhs
Aug - Sept - Oct 2007	1823	1127	61.82%	101	11 lakhs
Feb-Mar-Apr 2008	3781	1496	39.57%	109	12 lakhs
Aug - Sept -2008	3817	961	25.18%	77	10.61 lakhs
March - April 2009	3842	508	13.22%	54	9 lakhs

Source : https://www.placements-icai.org/

Is there still any doubt on the fact that ICAI has lost brand value and all the claims made by it regarding impact of recession on CAs being very less are false?

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22 Replies

ANSHUMAN KHANDELWAL (JOB) (311 Points)
Replied 22 September 2009

It is high time to control increased number of CA`s otherwise situatios will be more danger.

It is my personel view please dont take otherwise.but it is fact !

1 Like

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MUNISH SHARMA (STUDENT CA-FINAL) (346 Points)
Replied 23 September 2009

Hey,friends its really serious matter. The ICAI itself is also responsible for this viz. Making entry level easy but exit as difficult as earlier,banning the transfers,introducing dozens of new courses etc. Its always finding new ways to fetch money from prospective students. These are just my personal views. Sorry if i hurted anyone of you. But i think ICAI should take decisions keeping its brand value.Regards, Munish

1 Like

S.Vinothbabu (Articled Assistant) (159 Points)
Replied 21 November 2009

No. of Companies are increasingly reduced every year. But All the students passing Final year of CA course may have got a good job.

Available CA Students are very less. So i think, No need to worry about campus placemnets or Brand Value. This depends upon an individuals skill.

Vinothbabu.

ramsarikh (manager) (24 Points)
Replied 22 November 2009

i think you dont know about special campus who was held for the students who attend 3 months residential course.Its response is very positive more than 90 % is selected . 10 % student did not accept the offer. it means placements is 100%.Highest salary is 1320000/- for Singapore.

all IIMs together have only around 1250 students, i.e 200 X 6=1200, giving a placement for 250 students is not tough.

secondly I was 3 months In IIM -Indore and i knew diff between CA & MBA , basically they go to FInanacial services, become revenue generator,

Guys you have to believe we r not expert in Finance, we r in taxation, accounts & auditing.

Main drawback is Personality & communication skills.

We have competition with TOP 10 MBA only.

CA Ram Sarikh

9891478984

Krunal Raichura (Financial Advisory) (2134 Points)
Replied 23 November 2009

Originally posted by :ramsarikh
"	i think you dont know about special campus who was held for the students who attend 3 months residential course.Its response is very positive more than 90 % is selected . 10 % student did not accept the offer. it means placements is 100%.Highest salary is 1320000/- for Singapore. all IIMs together have only around 1250 students, i.e 200 X 6=1200, giving a placement for 250 students is not tough. secondly I was 3 months In IIM -Indore and i knew diff between CA & MBA , basically they go to FInanacial services, become revenue generator, Guys you have to believe we r not expert in Finance, we r in taxation, accounts & auditing. Main drawback is Personality & communication skills. We have competition with TOP 10 MBA only. CA Ram Sarikh 9891478984	"

I am very well aware of the residential program and special campus program out there.

I thank you for updating my post, as this was written quite earlier than the recent campus program.

You are correct, those guys from IIM and other top institutes become revenue generators and we are not in that role. Thats why I have been saying not to compare professions and say that CAs are great and others are bull sh*t. People on this website have been criticising other professions in even more indecent language. You should mention this point to every person who says that way.

I dont think the competition is only from top 10 bschools. Even if you see other institutes like Symbiosis, NMIMS, Welingkars, MDI, Nirma, FMS, JBIMS, SP Jain etc, you will realise that those guys are doing far better than CAs in terms of packages.

Please Note that I dont measure the success of an individual or profession by money. This post was only for those who showed superiority on the basis of money.

Your statistics maybe surely correct. In CA, there are lot of people who are knowledgable, hard working, sincere, not egoistic and have a very good attitude. But, there are equal number of people who know nothing except for what they have read, besides aattending coaching classes they dont do anything in life (as it is they are dummy or sort of dummy) and want to use CA name just to keep criticising other professions and show superiority.

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Mitesh Doshi (Manager Finance) (34 Points)
Replied 23 November 2009

Dear Kunal,

Yes I believe ICAI is loosing its brand value... you know today they have made cource in such a way that people start doing CA when they are in 12th Std... (SY JC).. you ask any commerce student and they want to go for CA.... enterence exams are easy and better way to collect money by ICAI... even cause of higher no of CAs and relatively low amount of control by Institure its loosing value in market... There was a time when people used to b proud for being CA and today days has gone for that... Being CA its shameful to say this but Truth remains truth, you accept it or you dont..

CA CS CIMA Prakash Somani (Landmark Group) (23502 Points)
Replied 23 November 2009

Veru bad to see the chart :)

Vivek (CA ) (2368 Points)
Replied 23 November 2009

We CAs are like Bagwan Hanumanji. We always underestimate our strengths and value. Since the ICAI is managed by the people who are 40+ in age and come from practice background, they can not market the freshers.

No business can run without efficient accounting, internal control and MIS system, good liaisoning with banks and timely compliance with all the fiscal and mercantile laws. All this is in our blood.

ERP is like a God’s “Vardan”(boon) for us. All the ERP packages are so complicated that only CAs can understand them. Programmers from engineering background can not implement and maintain them.

Besides ERP, BPO and KPO sector has good demand for fresh CAs.

The worldwide unification and implementation of IFRS will create the job opportunities and mobility for the Indian CAs, similar to the Indian software programmers. All the students will cram IFRSs word by word when it will become part of the curriculum.

Communication skills and English is not a big handicap but the home sickness is. That’s why the employer used to exploit us and so many freshers start practice unwillingly.

People from North India afraid of moving to West and South Indian job centers, like Mumbai, Pune, Bangalore, Chennai, Hyderabad etc.

Nobody wants to go to Gulf/African counties, where the starting salaries of freshers are at least 4 times of Indian offers.

Nobody can reduce the brand image of qualified CAs until ICAI keeps the tight control on results. Out of 100 candidate who join CPT, only 2.5 can manage to become qualified. Ask the value of the “CA” word from an examinee who has just declared fail in an attempt.

So don’t worry about the future of the brand image of the CA profession and just try to negotiate hard when you sell yourself in the market.

harry (Awaiting ca final results) (461 Points)
Replied 23 November 2009

CPT scheme result is reflected here

1 Like

harry (Awaiting ca final results) (461 Points)
Replied 23 November 2009

By introducing the CPT scheme the institute aimed to attract people by saying that people will be completing their CA in their early 20s rather than in the mid 20s. So the output is reflected in the campus placement

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(Guest)

Originally posted by :harry
"	By introducing the CPT scheme the institute aimed to attract people by saying that people will be completing their CA in their early 20s rather than in the mid 20s. So the output is reflected in the campus placement	"

HHHHey dude .... if u dont hv de knowledge abt matter... pls dont comment on any thing......

reasons:-

1) under CPT frst batch 4 ca final is only eligible...nov2010...

its nt because of CPT... ITS BECAUSE OF RECEESSSIOOON...

2) UNDER CPT ... STUDENTS R FAR HARD WORKING THAN DE PREVIOUS ONES.... THEY R FAR POLISHED......

3) LASTT .... JO HOTA HAI SUBH ACHEY KE LIYE HOTA HAI

harry (Awaiting ca final results) (461 Points)
Replied 24 November 2009

The output of the CPT batch is reflected in the last pcc results which was one of the worst .

so, what happened to our so called " hardworking and far better POLISHED students" ?

2 Like

(Guest)

I think the Institutes momentum of refining the CA course has been shifted

Introduction of new courses
Creating some extra formalities(like forms 112, etc)
Raising the duration of articleship without concerning the industry needs and ignoring the importance of post qualification experience while granting membership.
Not revising the CA Final syllabus as per industry.

And the Impact would be reflected over a couple of years when CWA's nd M.BA's will give CA's a Tough Competition!!

Sini (Student) (144 Points)
Replied 24 November 2009

Its rit tht the entry is made easy & the exit is been made tougher.. The plight of the students is very miserable to do work & study at the same time (PCC). ICAI had only thght abt the need of its members, but not abt the budding youngsters, who wil b leading the country. precious time at college is lost. wat will the student gain from a totally changed atmos frm school to work place. Most of them are exploited, by the principles. Even if he /she manages to clear the papers & qualify wat more do they know apart from the books.