I feel that, more than the problem of unemployment, its the underemployment that the CAs are facing..We must not forget that despite the low placements at the campus, der were candidates who got package of more than 10 lakhs...Doesn't it shows that more than the qualification, its the skills that will ultimately get you a job of your dreams...I feel that after qualifying the examinations, we only think of campus placements and do not bother much about the off campus jobs that are available, just for the sake of appearing in the campus, not even sure whether will be shortlisted or not, and ultimately end up in disappointment.. With the increase in pass percentage of exams,competition has become intense among the Chartered Accountants, the companies have more candidates to judge and evaluate to fit in their organisations and probably for this reason they do not show much of their interest in the campus programs, which is why we have seen so low turnouts in the campuses..Very soon, we wiil see inefficient Chartered Accountants being sacked from their jobs and new talented Chartered Accountants taking their positions..

Having said that, I had also appeared for Final examinations this May and unfirtunately I didn't cleared... But during the two months between the exams and the results, I did fair bit of research and explored the options available.. I browsed the official websites of the company websites (mostly from banking and finance industry) and was satisfied enough to see vacancies advertised for Chartered Accountants (few freshers and few experienced). Also, the job portals have ample amount of job opportunities for CAs.. I also got 2-3 calls after the results, asking whether I have cleared the exams and in search of  job..

The fact that CA has lost its charm is absolutely baseless and I do not agree with it. Though there have been some negative sentiments in the job market owing to economic slowdown, but that should not constitute the base of any conclusion...We must not forget that there are still around 210000 odd Chartered Accountants in the sixty three years  history, while more than this number of engineers and MBAs qualify each year. Chartered Accountants are a select breed of persons whom the society and industry respects by heart, because they recognise the hard work that they have done to reach this stage and earn the prestigious qualification..Exceptions are always there to the rule but that does not drives the law... In a dynamic, competitive environment we need to constantly upgrade and hone our skills to remain favouriates, else we will find ourselves blaming ICAI,campus placements and companies. Instead of criticising higher pass percentages, we should take it as an opportunity to make ourselves more competitive and skill oriented... The post qualification 1-2 years may be bleak, but the future is bright as we are the torchbearers of the economic and financial system.

I might have went too much ambitious and probably may have spoken too much considering the career stage that I am in, but sincerely this is what I feel and it is my endeavour to stand up to every single word that I have written..

Best Regards

@ Neeraj: You are right, qualification is just a passport to land in a good company. After that its your talent which defines you. 

Shashank

And Mr. Shashank, what is your opinion on how important role does the resume plays for the candidates to get shortlisted in companies and the campus?? Do you also feel that this is one of the core areas that we do not care much about and just love to copy the format and edit and submit and ending up in disppointment..

Please share your valuable opinions..

Mr Niraj, if the results as such persists, you would find it  futile to apply for ICAI campus; as the chances for you being shortlisted is virtually nil.....When you aren't even shortlisted, then how will you show your "talent"?

Nobody has told that CAs don't have any vacancy. But as supply has exceeded demand, the value of fresh CAs have obviously gone down. You can personally ask any friend/senior of yours who have experienced Campus from May2011 onwards......

Govt organisations/PSUs still have vacancies for CAs....But have you also bothered how long it takes for your employment to get confirmed?Check any of the recent job vacancy announcements....Eg: Coal India, SAIL,IAF.. And also, there is a thing called "reservation"....Again, another blow for General Caste Chartered Accountant , who is facing decrease in job prospects.

Also, we have to take into account in which sector does that fresh CA want to enter....When the situation is so bad, that it's hard to get a job, do you think he will be reckless enough to snub a job offer in a sector(say , IT) which even in his nightmare, wouldn't have preferred to go?

@ sushant Lohani: Dude I dont knw wats ur problem is wid ICAI, bt frankly speaking u r not taking into consideration the future prospect of the field. Today, In every field there  is  a problem of recession, so how can we xpct to hav a good job market at this point of time. Patience is the key to success wich I believe. Let us come out from this period n thn I xpct we wl hv betr oppurtunity. We all giv our best efforts to become a Chartered Accountants, n we all xpct to hold a respectable position in the society...

Nothin to worry dude, sbko job mil jayga...

Mr. Sushant, I don't think that working in IT sector is a nightmare for a Chartered Accountant, its the job profile that may be a nightmare (which varies from person to person)...Having said that its not only the govt companies that hire outside campus, many private companies also offer red carpet to "fresher" Chartered Accountants. Not getting shortlisted or recruited in Campus placements does not mean that the candidate will not get a job. If the CAs are unemployed, its probably because that they are not getting the kind of jobs that they want to do, not because there are no jobs. And also, one should not expect big bucks from mid size firms or organisations. I have seen jobs being listed on CAclubindia for fresh Chartered Accountants with a salary package of upto Rs. 6,00,000 and more.

When we enter the Chartered Accountancy Course, we know that how much the pass percentage remains, and we prepare hard to place ourselves in the 15-17% odd candidates who clear the exams. We simply dont leave everything to our destiny and expect mercy from the Institute. We give our best shot to be among the few successful candidates. The same rule applies to Campus placements. When the competition is intense, there are almost double number of candidates appearing in Campus Placements, we have to be more instrumental and professional in the way we apply for the jobs, the way we are presenting ourselves before the prospective employer. Our talent is firstly highlighted when we apply for the jobs or campus interviews, after getting shortlisted our talent is only judged and explored by the recruiter. So, our job application has to be more professional and it should be intriguing enough to warrant an interaction with you.. And , I feel that our "Resume/Curriculum Vitae" plays the most important role in this regard and that has to be professionally crafted, prefereably by the industry experts because that is the most prominent basis on which employers shortlist your candidature. One of my friends was not shortlisted in the campus placements this early season and the reason that he said to me was that "he had outspoken on the salary front". And as far as your statement that " Supply of CAs is more than demand" is concerned, I do not seem to agree with it, because I read earlier this year that there is still shortage of about 2,00,000 Chartered Accountants. The economic slowdown has also affected the Chartered Accountants getting good jobs and you must not forget that.

I do not know as to whether I will get shortlisted or not in the Campus Placements when I will appear after clearing the Final exams but what I know is that in pursuit of a career "I will have to be unconventionally good and appealing candidate" for the employers.

I convey my best wishes to all those who will appear for the Campus Placements.

Best Regards

Also being a professional, we must not publicise negative sentiments too much and should seek for constant improvisation and innovation in our approach towards our job and career.

Working in IT cos (other than those involved in innovation : eg:google,microsoft,intel,ibm) is indeed a nightmare.....Do u know what percent of freshers are kept on bench at IT Cos? That included CA freshers as well as those experienced (0-3)yrs....They might be getting salary , but what about the learning that will propel their career forward.

It's not publisizing negative things....but highlighting the core issues that's plaguing the profession. If u are saying that u have seen a job with 6lcpa @ cci.........there are numerous posts in CCI which says otherwise...Even there are posts in CCI forum which tell that my employer should be banned from campus bcoz of the ways it treats CA freshers ( i dont endorse the idea of banning....coz they r offering jobs @ times of recession....and i am , at the moment, cool with what i am doing: Learning and Earning at the same time) . At least, when majority of CA freshers are unemployed or working at measly salary(Ranker from Gujarat earning less than 20k pm), I am getting to work at a Sector-leader; who is outperforming expectations even during recession. But, yes, regarding CAs, it has to improve in lots of areas (my lips r sealed).

It wouldn't suprise me if ICAI invites ICICI (which as per some reputed members of CCI had been barred from campus) again so as to improve placement statistics.....

And had there been shortage of so called 200,000 CAs, then even during recession, placements wouldn't have been a problem. That's some of cr @ p that some officials  tell during functions...........They had also told that they will FIX THE MINIMUM SALARY  @ CAMPUS TO BE 9LCPA....What happened?

One should be an optimist,agreed....be "farsighted" , agreed....But in the process of doing, one shouldn't forget something called PRAGMATISM...

Future se pehle present aati he....Present sudhar jayein toh future toh achcha hi hoga... 

 Personally, i have seen 2 CAs who quit IT cos (who got recruited @ campus this time)...and know a dozen more who are looking to switch sector (coz they are not happy with what they r doing) ....

It goes beyond my understanding that why you are so sick with the IT companies?? Though there have been cases where the IT companies have offered roles to Chartered Accountants that have undermined their position and reputation, but again "exceptions don't drive the rule".Don't forget that the top finance brass of IT companies are also Chartered Accountants. Its not that they have been directly recruited as CFOs, but they have risen from step to step after gaining experience and exposure.

As far as banning companies from campus is concerned, I am also not in favour of it. But campus is not the only place where a fresher CA can get a job.. Options continue to be there but they need to be judged and explored rationally.

Talking of "PRAGMATISM", does pragmatism only implies criticising ICAI, results,companies or campus placements and crying foul about the contextual situations?? If that is what PRAGMATISM is all about, then we are in some certain serious problem. Remember that everyone is not a topper, everyone will not get a job in a MNC or will start earning seven figures straightaway.. It takes time to evolve better as a professional and scale the heights of your dreams.

Don't try to put words in my mouth...........In any words, have i said that i am sick of working @ IT Companies? Any fresher can't be recruited as a CFO straightaway, but in a field alien to any CA (learning ISCA is no where nearer to what real IT works really pertains to)........CAs are different than the Grade 3-MBA kids  as we have a separate skill set. Even then, CAs are not given any choice in what profile they would like to join the Cos as. When an employer is giving a job, he should also make sure that the employee doesn't feel neglected and his skills as a CA is put to some use. If the profile is Corporate finance, then the problem doesn't surface usually. But majority of the recruitees from ICAI are for non-CF roles. The job profile is somewhat alien to them and i strongly feel Cos should first apprise them (during PPT @ campus itself) about the roles they are expected to fit in. Usually, after joining and signing bond(if any), they are given  their roles, their projects and the main thing, their job locations. And there is simple logic behind why such Cos behave in this way: "You wanna leave, go ahead ,pay bond and leave. There are many CAs in market, who are ready to join at even half CTC , and ready to work in any profile at any location."  Strangely, this was not the case 2-3 years ago, as then the fresh CAs had the bargaining power. That's what inflated results cause to the value of a fresh CAs. And these are the same pvt cos, who provide red(sign of danger) carpet to CAs.

It's not as if CA freshers are fools to lay down their arms after rejection at campus. Do visit linkein group for indian CAs, where u can see discussions of fresh CAs with experienced ones @ industry. Such fresh CAs also apply and upload CVs at all websites/openings possible. Say , for example, you get calls from a Co/SME (not a CA firm,mind you) to work for 1.7lcpa from one of the India's biggest job website. And the profile is to market some policies/bonds....... What's the mistake of that CA fresher? Passing in first attempt used to be a big thing. Now, even that is not enough. When Ranker from S.Gujarat is working for 15k in the job which he could find....what salary should other first attempt people expect?

My simple advise to all freshers who passed in multiple attempt : I though it's hard but don't have any expectations from Campus. Especially this time, many centres which were Small centres have been converted to bigger centre. Eg: Pune....Previously, u could opt for Pune and then to Mumbai. Now, it's either Pune or Mumbai.  Thereby, lesser chances of bagging a job.....start searching for a job yourself...Get experience on paper even if the pay is not that good and also pursue other professional courses that provide  value addition (say CIMA,CFA-usa, CFE,CPA etc).Don't live in a la-la land, where being a CA will fetch you 6 figure salary.........Be pragmatic. and don't stop the learning process.........(this is my version of being pragmatic even after working in a MNC,)

@ Abhirup:

Doodh, The topic is itself about talking about the present scenario of CAs , why they are facing difficulties and what are the areas of concerns? Better first, mend the present as the future will be the outcome of the present karmas.

Quoting "Any fresher can't be recruited as a CFO straightaway" I ask everybody in this forum a basic question which was asked to me at one of the campuses which I appeared in : "Why do we see CAs limited to Finance Profiles only"? The skills we get during CA course is not only limited to Finance and Accounting, but it enables you to manage Various Profiles.

This question was asked by the CFO of the company (the guy who interviewed me) in which I am working. That guy is now CEO and handling the entire Hospitality Division of our company which in Itself is a billion dollar enterprise.

I had a chance to work with him for some time and he changed the way I used to see my career. He taught me that if you limit yourself to a particular profile, you cannot grow. That is the best thing I have learnt ever.

It gives me confidence and inspiration to work here, that a CA is heading such a business which is supposed to be headed by an MBA.

Moreover, our group has more than 10 businesses and more than half of them are headed by CAs.

I am not saying to work as a programmer in an IT company. But we should not comment on the profile being offered by any company. They can also sense that what a CA can do. He cannot replace an IT Engineer who comes in a much lesser cost to any company.

Shashank

Quoting : "They had also told that they will FIX THE MINIMUM SALARY  @ CAMPUS TO BE 9LCPA....What happened?"

The minimum salary to be offered to Fresh CA on Day0 for Delhi and Mumbai Campusus has been alredy increased to 9 Lakhs PA. (Please refer the relevent file uploaded recently in cmii.icai.org)

Logically speaking, This is something which will be gradually increased and cannot be done in a single Campus Program. 

Rather than blaming ICAI for the unemployment, we should look into the grounds on which our CVs dont get shortlisted (in Campuses) or we are rejected (off Campus).

Shashank

Mr. Sushant, your continuous criticism of IT companies made me think that you are really sick of them..And as far as your comment "Any fresher can't be recruited as a CFO straightaway" is concerned, let me clarify that I have written that those top honchos have reached there after experience and exposure. And even a class 5 kid understands that fresher candidates are not appointed CFOs straightaway. We are professionals and should make genuine interpretations..

And don't you think that if mediocre roles are being offered to Chartered Accountants, one of the reason behind it is that the CAs are ready to work in those profiles at meagre salary.. Corporate Finance is not the only job that CAs can do.. If you are interested in Corporate Finance, it doesn't means that every CA will love to work in that profile. All have their own set of priorities.

Talking of working in Co/SME for 1.7 lacs p.a, I will absolutely refuse to such an offer because I know that what I am supposed to do.  Absolutely, there is no mistake of fresh CA when he is called for marketing bonds, but he will be commiting sin if he/she accepts that job. So, our decision making has also something to do as far as building our reputation is concerned.

"Be pragmatic. and don't stop the learning process" this is what has been constantly highlighted through the previous few posts, but the spirit of PRAGMATISM appeared to be miscommunicated, thankfully you have highlighted it positively.

Mr. Shashank, I totally agree with your question that "Why do we see CAs limited to Finance Profiles only"?? Chartered Accountants are known to be complete business solution providers and their roles are not at all limited to finance domain... Mr. TV Mohandas Pai, Mr. Kumar Mangalam Birla, Mr. Keki Mistry, Mr. Deepak Parekh and many more executives, they all are Chartered Accountants and have not limited themselves to Finance profiles and what they have done to their businesses, the whole world admires them for that. And most importantly, they acknowledge that whatever they have acheived today, its because that they are Chartered Accountants.

As I said earlier, instead of indulging ourselves in criticism, we must seek for continuous improvisation and innovation in our approach towards the job and our job application/CV should be intriguing enough to warrant interaction from the recruiter..

And also,some wise people from HR field have said that "if times are bad and one is not getting a job of the desired profile, one should be ready to take assignments in the other related fields and should focus on skill enhancement". Taking lessons from that, can't we chart a career path for ourselves which would ultimately benefit us in the long run??