Just like campus placements at premier management and engineering institutes like the IITs and the IIMs have achieved new heights, another group of students is currently experiencing a huge surge in demand – the Chartered Accountants (CA). According to report, the highest salary offered during this year’s campus placement in the Institute of Chartered Accountants of India (ICAI) for international posting has marginally increased to INR 24 lakh.
However, the highest salary offered for domestic placement decreased to INR 17 lakh from last placement season’s INR 21 lakh.
Alghanim Industries offered the highest salary for international posting while ITC made the highest offer for domestic posting. The total number of companies visiting this season’s campus placement stood at 86 – a noteworthy increase from last season’s 80.
952 CAs from ICAI secured a job during the latest recruitment dive, a whopping 40 per cent increase from the campus placement in March, 2014. Meanwhile, the average salary offered to a CA has remained more or less the same (~INR 7 lakh) during the past couple of years.
“Chartered Accountants today are technically equipped to act as management consultants and play a vital role in assisting business and industry to improve the use of their resources, increase their efficiency and achieve their objectives. The breadth of management advisory services rendered reflect their expertise in diverse areas,” K Raghu, president of ICAI, said in a statement.
A qualified Chartered Accountant usually has the option to obtain a Certificate of Practice (CoP) and practice on his own.
“The CA profession is such that, the pick-up in salary levels is much faster than other professional courses. Their value increases with the experience they gain,” says Ashok Reddy, managing director and co-founder of TeamLease, a staffing firm, as reported by the Times of India.