MBA finance grads watch out, CAs are inching closer in terms of pay packages. In
the latest round of placements of CAs, held last month, average salaries have
shot up to almost Rs 6 lakh per annum. The average salary of CAs reached to a
new high of Rs 5.94 lakh compared with Rs 4.79 lakh in February-March,
2007.
Of late, Institute of Chartered Accountants of India (ICAI) has been working hard to prepare its members to compete with MBA students. The institute has also introduced changes in its curriculum to groom new students as per the changing scenario. In his recent message to its members, ICAI president Sunil Talati said, “I must say that the new breed of young students are so smart and intelligent that the number of students passing out in final examination and becoming our members is increasing every year. This is a good sign. It is not that the examination papers are easy, or results are liberal; it is in fact a sign that new young intelligent and talented students are joining our profession appreciating the new curriculum.” The campus placements were not limited to about 100-odd students like typical B-schools. There were as many as 1,151 students recruited out of 1,823 students who participated in the September-October campus placements. There were 101 companies comprising 252 interview panels participated at 19 centres in campus interviews, organised by ICAI. "A number of students could not get the job profile and company of their choice since we do not allow students to appear in more than six interviews. However, they will be able to find the suitable opportunity through our online platform from where headhunters can access to our data base,” said ICAI chairman of committee for members in industry Uttam Prakash Agarwal. Not only banks and financial institutes but a number of IT, energy, telecom, engineering, FMCG and aviation companies also participated. Landmark Gulf Group offered the highest package of Rs 12 lakh and recruited 17 CAs for international postings. Standard Chartered offered anywhere between Rs 7 and Rs 11 lakh to 11 CAs. Citi Bank, Britannia Industries, ICICI Bank and ITC too made some of the most attractive offers to fresh CAs. While ICICI Bank recruited as many as 303 students, Reliance Industries recruited 71, Infosys 47 and Vedanta 45 CAs. ICAI conducted campus placements at Ahmedabad, Bangalore, Vadodara, Bhilai, Chandigarh, Chennai, Coimbatore, Ernakulam, Hyderabad, Indore, Jaipur, Jodhpur, Kanpur, Kolkata, Mumbai, Nagpur, New Delhi, Pune and Surat. |
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Take account: CAs close in on MBAs in salaries
Replies (12)
great news ...........we will surpass them very soon
Right. I think in next campus, we will surpass IIMs
The surge in the avg salary is only due to less No of students in Campus. Total No student who sit in campus placement is around less then 1900 as compared to 4200+ students in the last campus.So companies offering higher salaries got the candidates but companies with lower salary didnt get the candidates & thus recurited less no students.
The reason for the less no of students in the campus is largely due to CAs like me. Even though I have cleared my finals but my articleship is scheduled to complete in Mar 08 so I was not allowed to sit in the campus. There are 100s of CAs like me who will sit in the next campus & at that time there will be double no of student who will sit in the campus & this will bring down the salay.
In nutshell there is nothing to cheers as such Avg salary will definetly come down in the next campus
THE IMPORTANT ASPECT OF THIS CAMPUS PLACEMENT IS THAT OUT OF 1150CHARTERED ACCOUNTANTS PLACED THIS OCTOBER 798OF THEM SCORED ABOVE 5,00,000Rs. P.A .THATS MEAN 70%OF FRESH CA S EARNING HIGH INITIAL PLACEMENT.BUT I WANT TO RAISE ONE QUESTION HERE WHY ICAI CAN NOT PLACE 100%OR AT LEAST 90% IN THEIR CAMPUS?IF TO GO TO PLACEMENT REPORTS ONLY 50%CAS GOT PLACEMENT IN CAMPUS.
Comparisons of CA salary with MBA should be at global level,Because most of the MNC,abroad issues Stock Options,Whereas that practice is not seen in Indian Family Run organization.
Only if Investments Banks such as Lehman brothers, Merrill Lynch, Morgan stanley etc pick freshers for international posting in core investment banking, the average salaries can be compared to IIMs.
Why are international salaries not given in USD? IIM salaries have crossed a crore in rupees. I don't know how CAs are 'closing' in with MBAs.
ya am also not agree but still there is some improvement in salary structure and placements.
But dear all pl note not only the matter of salary it is also a matter of what profile you will get..
Pls choose your profile not salary.
I was not aware abt CA placements but when i visited www.placements-icai.org, then i came to know abt placement and very good packages. Its a good news for us.
CAs ll definitely do bettr. The MBAs avg salary is distorted by the highest pay ... A four year experienced got a pay of 1.34 crore after doing MBA. A fresh CA got a pay of 40 lakhs... and with four years experience he can surpass that MBA easily
Hi,
Very Informative one .........it is sure that CAs who are equiped with allround knowledge will surpass the MBAs in near future .
Regards,
M P Singh
Definitely CA shall surpass MBAs soon...The CAs need to groom themselves for the upcoming competition
| Originally posted by :Rushikesh | ||
| " | CA is not comparable to IT. im getting 6 lacs in IT cmpny my friends(i was 1st in class they 2nd 3rd) are getting half of it. engineers are engineers after all. and mind it iims,mdi, all have 95% engineers, so u know who is better. | " |
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