While the world is grappling with the economic impact of lockdown due to the 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), the 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 program 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 programs 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 organizing any event/ campus placement, the Institute taking note of all the factors and not letting the newly qualified Chartered Accountants miss the opportunity, organized 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 a 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, their 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 a lifeline to other functions. CAs with their education and training are the best managers and complete business solution providers.”
To share a wider view about the current campus placement held in comparison to the corresponding period last year, mentioned below are the figures for reference:
| Year | 2019 | 2020 |
| No. of candidates registered for placement | 9051 | 9272 |
| Total No. of Companies | 137 | 133 |
| Jobs Offered | 2135 | 2923 |
| 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 ICICI Bank Axis Bank TCS Genpact | PricewaterhouseCoopers ICICI Bank Axis Bank Infosys TCS Genpact |
| Whether new companies registered as recruiters? Or earlier companies were there? | 21 new companies | 18 new companies |
ICAI also recently organized 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 has 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 program declaring 899vacancies as against 226 vacancies last year, for CAs with experience between 1 to 20 years.
