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Why are salaries dropping for CAs of late ??

Ram - The CMA, The ACS ( cma acs) (65 Points)

14 February 2012  

Its a very disturbing trend as a rank holder in CA final today showed me his offer letter from a leading MNC with annual CTC being as less as 4 lakhs. Another friend who cleared in his second attempt had earlier rejected an offer from a leading MNC based in India last week as they offfered only 3.5 lakhs. They are all CA freshers. Why is salary packages dropping for CA freshers? Even a year or two ago they were taken at 8 lakhs and 9 lakhs as freshers? Why this sudden drop, it cant be argued that skills differ from person to person. For CA freshers there cannot be too glaring a difference in their skill sets as they are all freshers.Request your opinions on this alarming trend and invite sugessions on how to cope with this


 8 Replies

CA SENTHIL PRABHU (CHARTERED ACCOUNTANT) (132 Points)
Replied 14 February 2012

i would say that its mainly due the increase in pass perentage/ Excess supply as compared to demand.

This decrease in salary started to happen from previous attempt /campus interview held in August- September2011, where lot of CA's cleared in first attempts are not even shortlisted.  CMII of  ICAI has not released the data of candidates participated and jobs offered in Aug-Sep 2011 campus till now..

This situation continues now also. As I have registered for this Current Campus placement, At present only 2 companies are participating in Coimbatore Centre.

 

Sushant Lohani (CHARTERED ACCOUNTANT) (1051 Points)
Replied 14 February 2012

@ Ram:

I am not so sure about the Ranker which u r talking of..

My ranker friends have received offers of Rs 12 lacs+ from Marico , Deutche Bank, BCG etc.

@ Senthil :

Same stuff with my Ahmedabad centre. TCS and Infosys coming , so is Evosys. So, it's  IT power this time around. Tomorrow is the last date of shortlisting by Cos; and still NO FMCG HERE.

           Which cos are coming to your centre?Could u name them?

 

aLSO see this link:

/forum/ca-placement12-share-names-of-cos-coming-2-ur-centre-189342.asp

CA SENTHIL PRABHU (CHARTERED ACCOUNTANT) (132 Points)
Replied 14 February 2012

@ sushanth:

For coimbatore centre HINDUSTAN COCO COLA P LTD & LIC HOUSING FINANCE LTD.

Desi Mojito (Chartered Accountant) (142 Points)
Replied 14 February 2012

Guys, I am attaching a detailed list of Companies coming to various centres as available as on date. I must say the situation is very gloomy. Lets hope for the best.


Attached File : 85881 931228 list.xls downloaded: 321 times

Ram - The CMA, The ACS ( cma acs) (65 Points)
Replied 15 February 2012

https://jobsearch.naukri.com/job-listings-Fresh-Qualified-Chartered-Accountants-Aditya-Birla-Retail-Limited-Bengaluru-Bangalore-Chennai-Hyderabad-Secunderabad-Mumbai-Mumbai-Suburbs-Delhi-NCR-0-to-3-years-300112001548?xz=12_19_35&xo=&xp=43&xid=132931465597318500&qp=&id=&f=-300112001548

Ram - The CMA, The ACS ( cma acs) (65 Points)
Replied 15 February 2012

pls see above ad in naukri by aditya birla, they offer 350000 for ca freshers

Sushant Lohani (CHARTERED ACCOUNTANT) (1051 Points)
Replied 15 February 2012

This time, there is no ICICI Bank.

Maybe, CA freshers from prior batches irritated them a lot.

Sushant Lohani (CHARTERED ACCOUNTANT) (1051 Points)
Replied 10 March 2012

Originally posted by : CA SENTHIL PRABHU

i would say that its mainly due the increase in pass perentage/ Excess supply as compared to demand.

This decrease in salary started to happen from previous attempt /campus interview held in August- September2011, where lot of CA's cleared in first attempts are not even shortlisted.  CMII of  ICAI has not released the data of candidates participated and jobs offered in Aug-Sep 2011 campus till now..

This situation continues now also. As I have registered for this Current Campus placement, At present only 2 companies are participating in Coimbatore Centre.

 



/forum/shocking-video-from-ca-campus-placements-2012-sad-193183.asp

See the video also.


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