Institute of Chartered Accountants of India
Upsurge in the Demand of Chartered Accountants by 37% inspite COVID – (29-09-2020)
Upsurge in the Demand of Chartered Accountants by 37% inspite COVID ICAI Campus Placement Programme
While the world is grappling with the economic impact of lockdown due to COVID-19 pandemic and various sectors of the economy are facing challenges, there is some silver lining to cheer for. The Institute of Chartered Accountants of India (ICAI), premier accounting body regulating the profession of Chartered Accountancy, has reported an increase of 37% in demand for newly qualified CAs for employment in industry through its campus placement programme concluded recently.
To encourage and enhance close links between the Chartered Accountants in Industry & Business and the Institute, since the year 1995, ICAI has been providing employment opportunities to the newly qualified Chartered Accountants through Campus Placement Programmes. The ICAI conducts campus placement programmes for its newly qualified Chartered Accountants twice a year immediately after the results of its final examination are declared.
During the current year, as the pandemic has restricted the physical movement towards organising any event/ campus placement , the Institute taking note of all the factors and not letting the newly qualified Chartered Accountants miss the opportunity, organised the 1st ever Campus Placement through virtual mode.The major recruiters at the current year’s campus are from sectors like financial services, banking, IT, BPO and CA firms comprising of 80% of total recruitments.
With such steep increase in the demand of Chartered Accountants, CA. Atul Kumar Gupta, President ICAI shared “It would be incorrect to say that Chartered Accountants demand accelerates only when economy is growing. In fact, there role is more important in prevailing circumstances. Companies are looking for sound professional advisors who can manage their finances and working capital well thus providing lifeline to other functions. CAs with their education and training are best managers and complete business solution providers.”
To share a wider view about the current campus placement held in comparison to corresponding period last year , mentioned below are the figures for reference:
|No. of candidates registered for placement||9051||9272|
|Total No. of Companies||137||133|
|Maximum Salary Offered & Name of Company||Rs.24 lakhs per annum for domestic and Rs.36 lakhs per annum for international posting||Rs.23.28 lakhs per annum for domestic posting|
|Average Salary (per annum)||Rs. 7.43 lakh||Rs.8.91 lakh|
|Names of few companies||PricewaterhouseCoopers
|Whether new companies registered as recruiters? Or earlier companies were there?||21 new companies||18 new companies|
ICAI also recently organised placement programme for experienced CAs also titled, “Career Ascent” for which interviews were held from 22nd to 28th September, 2020. Here again, the number of recruiters have doubled and vacancies have quadrupled to almost 4 times as compared to last year. As against 14 recruiters last year, 29 recruiters have registered for this programme declaring 899vacancies as against 226 vacancies last year, for CAs with experience between 1 to 20 years.