Money fails to flow on day 2 of ICAI placement
Megha Bhatt
Posted On Friday, March 26, 2010 at 02:51:26 AM
Only eight of the 40 shortlisted candidates bagged jobs on the second day of placement at the Institute of Chartered Accountants of India, Ahmedabad chapter. Twenty-four students were placed on day one of recruitments held on March 23.
Torrent Pharmaceuticals and Adani Group landed at the institute on Thursday. Torrent offered a package of Rs 3.5 lakh pa while Adani Group proffered Rs 4.1 lakh.
The modest pay did not stop five of the six candidates from grabbing offers in Torrent’s finance and accounts sections. They will be posted in various cities including Agra and Bhiwandi. “Torrent is a top-notch company. Working with the drug firm is better than getting a job in the marketing, banking or retail sector,” said a candidate.
Adani recruited three candidates to work in its Ahmedabad office. A student, who has been taken on by Adani Group as management trainee, said: “I am excited to work in a diversified group which holds a powerful position in India.”
Most of the students want to work at a reputed institute in Ahmedabad itself. However, many of them had to return disappointed on the second day of placement. Said a student, seeking anonymity, “The firms have filled up all vacancies. This means students, who were not shortlisted, will lose a chance to appear for an open interview.”
The students were also upset that the institute had not specified the cut-off for minimum pay package. A student said, “The institute should have fixed the minimum pay being offered. The salaries being offered by companies is quite low.” Another student said, “Companies like Delloitte, PricewaterhouseCoopers, Reliance, Essar and Wipro should have been here. The institute needs to invite such reputed firms. This in turn will enhance the institute’s repute.”
Chief placement co-ordinator Dhinal Shah said, “In future, we will ensure that students are offered the right salary.” “We will also invite firms that have not participated in the recruitments this time,” placement co-ordinator Niren Nagari.
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Ahmedabad Placement 2010:Worst ever:students saad
Ya reputed companies must be invited to the placements
This is really surprising tht ICAI didnt bind Minimum Payscale limits. I am seeing first time such lower salaries being offered. This is ridiculous on part of management. This will have bad impact on marketing of CAs. Everyone is aware that CAs are best to fit in any industry whether its mfg or service sector. I m highly disappointed. ICAI, Ahmedabad Branch must take it very seriously. Instead of fighting for posts they must take care of Future CAs and overall CA community. 3.5 or 4 lakhs packages are too far and its scale around of 2007. Currently minimum package must be around 5 lakhs.
Yea; i agree with CA Parth Trivedi. This could harm the branding of the CA profession among recruiters. And it may also be true that the "elected members in ahmedabad branch were busy fighting for posts amongst themselves" and how on earth they could forget to call big recruiters like Reliance, PWC,etc.
Abhi toh 2 TBCOM from DU bagged offer of 34 lacs pa from Deustche Bank. And many undergrad-students there got average package of 3.5 -4 lacs from good companies.
Ahmedabad ki case mein ; majority students didn't get job; forget about the meagre salary that the lucky ones got:in fact that is peanuts.
The fault and folly is of the Placement offical Dhinal Shah? Was he sleeping? How easily he talks about future placement. DoeSN'T HE KNOW THAT ONCE A STUDENT HAS APPEARED FOR A ICAI PLACEMENT ; HE CAN'T APPEAR AGAIN IN FUTURE EVEN THOUGH HE DIDN'T GET RECRUITED."
And some sources in ahmedabad also say that the "power politics at dilli-icai" is also responsible for this fiasco and ahmedabad has been targeted since Talati left.
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