- This CA placements analysis is done on the basis of data issued by ICAI on their placement website.
- Though this analysis shows a drop in the % of jobs offered but that does not mean that it is due to less demand for CAs. Rather it focuses on whether ICAI should strengthen its placement programme to increase the no. of companies & jobs offered.
- These placement nos. does not include out of campus placements (i.e. jobs which students get by their own efforts). An increasingly high no. of students search for job out of campus.
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Summary
- No. of students registering for the campus placements has more than doubled in the last 5 years. (See Chart 1)
- No. of jobs offered has been same despite of increase in the students registering for the campus placements. Same is the case with the companies participating in placements.
- No. of students getting 9 lakh + jobs has increased consistently and average salary has increased from 6 to 7 lakhs. (See Chart 2)
- No. of students passing CA Examination (Both groups and individual groups) has increased by more than 3 times in the last 5 years. (See Chart 3)
- Point 1 and Point 4 brings us to the conclusion that no. of students registering for campus placements (from the no. passing in each attempt) has decreased a lot, which should be due to lot of people going for out of campus placements. See more on this below chart 1
Questions
- Why is the no. of companies and no. of jobs offered in campus placements not increasing despite of students being able to bag a job out of campus with their on efforts?
- Why has the no. of students registering for campus placements decreased? Are students finding campus placements not worth their time and applying for jobs themselves?
- Is placement performance in any way linked with the increase in no. of students passing the CA examination?
Do share your thoughts in the comments
Chart 1
We can see synchronization between the no. of companies coming to the campus and no. of jobs offered. In Feb-Mar 2009 when no. of jobs offered was least at 508 jobs, no. of companies was 54 and when in Feb-Mar 2011 no. of jobs offered was 1,876, no. of companies was 111.
So any one can tell that higher the no. of companies higher would be the no. of jobs offered. This brings us to the questions that what is the reason that no. of companies coming to the campus is not increasing. There can only be two reasons for this:
- Placement program needs more effort then at its current level
- Overall market situation is bad – This can not be the sole reason as people are able to get jobs out of campus with their own efforts.
No. of students registering for the campus placements took a huge jump in Aug-Sep 2011 with total 10,317 students registering for the event. This can be directly correlated with the no. of students passing the CA examination in chart 3.
- In Feb-Mar 2008 total no. of students passing the CA Final Examinations was – Both Groups (1023), 1st Group (2,289), IInd Group (2,777) and the no. of students who registered for campus placements was 3,781. Considering 50% of the individual group students becoming CA’s we can say participation rate from students was very high.
- In Feb-Mar 2013 total no. of students passing the CA Final Examination was – Both Groups (5,075), 1st Group (12,912), IInd Group (16325) and the no. of students who registered for campus placement was 7,262. Even considering 40% of the individual group students becoming CA’s, participation rate was half of what it was in Feb-Mar 2008.
Chart 2
No. of students getting 9 lakh + offers has increased from 70 in Feb-Mar 2008 to 141 in Feb-Mar 2013. This sure is a good sign towards the increasing value of CA students and corresponding to that average package has also increased from 6 lakhs to 7 lakhs.
Chart 3
Very nice article
Thanks
ICAI needs to increase its focus on placements
Yes Chitra, That is very important
I think only reason for this is increase in CA Final result.
Rajeev,
But all these students are able to get jobs out of campus. So I dont think problem is in increased result.
Many are under disguised unemployment. paid a sum of 15-20000
Hi amit,
Disguised employment is where person employed is adding no value to the work done, so this is not disguised employment :).
About the low salaries, I think that is something which we as CA’s need to face ourselves. In most of the low salary cases, I have see people have really poor communication skills and don’t have any experience (dummy articleship). So that is something which we can improve by our own efforts only.
I think result of CA CPT is very high. CPT result shud be down to 5%.
But Kanchan, how do you think reducing the CPT result will help in improving the placements.
i think here Key Driver is cost of Hiring for the companies thru Campus and outside Campus.May be it is cost effective to companies hiring from market than campus.But it is benefial to the profession & students if major chunk of hiring is regulated by institute thru campus to have better average compensation for passouts and on same lines it should be cost effective to organisations also.
Nice point Somveer,
My next article will reflect on this aspect of placement
Thanks for your comment
CA results should be down to 1% or 0%
Hi Palak,
But low result is not the only solution, we should also look in to improving the placement program so that no. of companies coming to campus can be increased.
whi no studr=ents passing exams laterly it becomes engineering ……….
I don’t think that can happen if quality of people passing is maintained, yes but if quality of CA’s will go down then situation will be difficult then engineering.
As i read the above conversations and information provided above, there is also a fact the no. companies offering placement is decreasing in five years, rather than previous 5 years instead, and that is because ICAI is charging much amount for register themselves to provide recruitment through campus. And this is a big issue for falling of % of jobs through campus.
Yes Abhishek, that is true.
I will soon post another article reflecting on the price increase by ICAI.
the main cause for salary issue is lack of practical knowledge….
icai should take serious step about dummy articles
You are right thrinesh, this is one of the reasons for decreasing quality of ca’s
Check this post on why the % of jobs offered in ICAI campus is falling.
https://www.pace2race.com/icai-campus-placement-2013-why-is-the-placement-falling/
I’am also pursuing ca but after hearing that less student are getting jobs. i start again thinking that has i choose the wrong direction .
Hi Ashish,
What is analysed in this post is the problem of campus placements. For deserving CA students there is no shortage of jobs…
I think prabhat is right. Decreasing % of placement is due to excess registering charges for companies. Institute has became greedy. Management is personally liable for decreasing value of CAs. passing % in all level is increasing day by day. ICAI must look after this problem inspite of blamming on market condition because after all we all belongs to CA family.
A very big problem is that representation of working CA’s (in job) in CA Management is nil and due to that most of the decisions of ICAI are not helpful for CA’s in job.
Above point you have said is absolutely correct.
We should not forget that ICAI is respectable Institute trying to maintain the standard of Ca’s high at all time. The biggest competitors of ca’s in job markets is MBA’s, But now a day’s MBA demand is like next to nothing and in this present situation I personally seen Ca’s GET GOOD PACKAGE OUT SIDE CAMPUS (Those who are competent and knows they job properly ONLY ).
Institute should try to grab the job for CA’S not only from its home country – India but also from foreign countries. For this proper relation with all foreign companies, placement facilities and center to be opened, collaborate with corporate ministry of foreign countires, Proper management, low registration fees, competent workforce of students, communication skill and all relevant should be taken into consideration.
Regard to reduce the passing % I sometime fell that it is somewhere close to immorality to fail a person who deserve to be pass
ICAI should focus on quality of student instead of counting the heads of no of ca’s