Chartered Accountant top salary zooms to Rs 70 lakh

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Creating a record in its placement history, the Institute of Chartered Accountants of India (ICAI) has placed three of its candidate at a record salary of close to Rs 70 lakh with Singapore-based Olam International. This is the highest ever salary offered to fresh CAs recruited from the ICAI campus, the apex body that conducts the CA examination and places the successful candidates every year. Earlier, a record salary of Rs 38.25 lakh was offered in 2007. 


The three candidates who have been offered the record salary, almost double the earlier high, were picked by the agriculture supply chain major from ICAI’s Chennai campus. Olam plans to hire around 8 candidates from ICAI. 

ICAI started its first phase of placements through five (all metros) out of 15 campuses on March 4. The first day itself saw 320 candidates being picked up. Companies which hired successful CAs on the first day include IOC, ITC, Tolaram, Vedant, S R Batliboy, Yes Bank, GE Capital, REC, L&T, Axis Bank, Morgan Stanley, HCL Technology and Delloite. 

"We are very happy with the offers we have seen on very first day of our campus recruitment. It suggests that now we are out of the global recession and recruiters are ready to offer right packages to right candidates," said Subodh Agrawal, chairmen of the Committee for Members in Industry, ICAI, in a reaction to the record offer. "It is a 100% rise from our earlier best," he added. Explaining the hiring sentiment, Mr Agarwal said: "Now with the upturn, good candidates keen to work within the country. Therefore, companies need to pay a premium to hire them for global positions." 

Not just global firms but domestic giants too have aggressively picked up CAs on the first day. Leading private sector bank ICICI emerged as the biggest employer by hiring 100 candidates. 

"ICICI Bank has been one of the biggest recruiters. However, it did not hire with the same fervour in the last two-three years. This time, they are back," said an official in the ICAI. 

While Mumbai campus saw highest placements with 148 CAs getting offers, Delhi saw 65 offers. Kolkata, Chennai and Bangalore campuses saw 42, 22, 44 offers respectively. 

While the salary offers in Mumbai were in the Rs 6.25-14 lakh, Delhi saw candidates picked up in the Rs 6-11 lakh salary range. The range was higher in Kolkata where offers were made between Rs 6 lakh and Rs 22. Tolaram, a Singapore-based diversified group offered the highest package of Rs 22 lakh in Kolkata. 

When contacted by ET, Olam International confirmed the Rs 70-lakh offer. " Michael Joseph who handles global recruitments at the company said: ""We are operating in a recession-free industry. So, there are really no limits now," he said. Olam which is growing at a 25% rate, is also one of the top recruiters at the IIMs. In the ongoing placement season at the IIMs, the company picked up 12 people from the IIM-A.

Replies (6)

WOw man!!! its great!!!

hope we get the similar type of salary

Thats probably the tip of iceberg which we r seeing!!!Can u tell me whats the average salary and how many CAs are actually jobless,, or taking very low salariies!!!

 

ICAI’s Campus Placement Programme

The Institute of Chartered Accountants of India (ICAI), working under the aegis of the Ministry of Corporate Affairs, organizes campus placement programme for the benefit of newly qualified Chartered Accountants twice every year. The first phase of the programme is going on these days at 5 cities namely Bangalore, Chennai, Kolkata, Mumbai and New Delhi. It will continue till 10th March, 2010.

 

After conclusion of the first phase, the next phase of campus interviews will be conducted during 23- 26 March 2010 at different centres including Ahmedabad, Chandigarh, Coimbatore, Indore, Ernakulam, Kanpur, Nagpur, Pune, Ludhiana, Surat, Hyderabad and Jaipur. Till now 72 companies are participating in the programme seeking more than 1,500 Chartered Accountants. Overwhelming response has been received from all the centres. A total of 2,870 candidates have registered for the Campus Interviews.

 

The Institute of Chartered Accountants of India is a statutory body for the regulation of the profession of Chartered Accountants in India. Globally recognized for its high standards, the Institute has come a long way from 257 students enrolled in the Institute in 1949 to as many as 6.20 lakh students on roll 

Thanks for correcting me...............

this should be an inspiration for a student to study more seriously.

al the best students.

al wil be well

Do any one know the people who got job??????


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