Around 8,000 Chartered Accountants (CAs) have secured placements during this year’s campus placement drives, said the Institute of Chartered Accountants of India (ICAI) on Saturday.
A total of 3,002 jobs were offered during the 59th campus placement programme held between February and March this year, which was conducted for newly qualified CAs from the November 2023 examinations. Another 4,782 jobs were provided to newly qualified CAs from the May 2024 examination during the 60th campus placement programme conducted between May and June.
The campus placement programmes conducted twice a year by ICAI serve as a dynamic bridge between Newly Qualified Chartered Accountants (NQCAs) and organisations seeking talent to meet their human resource needs.
The 60th campus placement program set new records with 241 companies participating compared to 140 in 59th. Despite the higher participation, the highest salary offered ₹26.70 LPA by Power Finance Corporation (PFC) was slightly lower than the 59th drive’s peak of ₹29 LPA by Diageo India. However, the average salary dropped marginally from ₹13.24 LPA in the 59th program to ₹12.49 LPA in the 60th.
“We conduct campus placement drive twice a year for CAs passed in November and May cycles at nine major centers namely Ahmedabad, Bengaluru, Chennai, Hyderabad, Jaipur, Kolkata, Mumbai, Delhi, and Pune, along with 20 smaller centres nationwide. Generally, 5000 to 6,000 CAs secure jobs in a year but in 2024, we placed around 8,000 CAs in prestigious companies. Usually, around 150 companies come for campus placements in a session, but we saw the highest participation of 241 companies this year in a session. The data shows the growing demands for CAs in the job market,” Dheeraj Khandelwal, chairman, Committee for Members in Industry & Business (CMI&B) of ICAI told HT.
ICAI will conduct ‘Overseas placement programme for CAs’ on January 24 and 25, 2025. All ICAI members who have obtained membership of the institute on or prior to October 31, 2023, are eligible to participate in this placement drive.
“We started placement of our CAs for companies based in UAE in 2018. Witnessing the requirements of Indian CAs in foreign companies based in all major continents of the world, we have decided to organise overseas placement programme this year too. The interested candidates have to register for the placements after which the recruiters will shortlist them for online interviews. The selected candidates have to work abroad,” Khandelwal said.
ICAI has 52 overseas chapters spread over in Africa and Middle East, Asia, Oceania and Australia and in Europe and US. The ICAI functions under the administrative control of the Ministry of Corporate Affairs (MoCA), Government of India. The ICAI has over 4,00,000 members and 9,85,000 students across the globe and has 176 branches across India.