ICAI Campus Placements 2024: Average Salary stagnates, Highest CA Fresher Salary Offer falls to ₹26.5 LPA
ICAI campus placements 2024 – Chartered Accountant placement – CA fresher salary – Average CA salary – Highest CA fresher salary – taxscan
ICAI campus placements 2024 – Chartered Accountant placement – CA fresher salary – Average CA salary – Highest CA fresher salary – taxscan
The Institute of Chartered Accountants of India ( ICAI ) has recently concluded its 60th Campus Placement Programme for newly qualified Chartered Accountants (CAs) who cleared their May 2024 exams.
Despite a significant turnout and increased participation from recruiters, the results indicate a mixed bag for candidates in terms of salary packages, with a noticeable dip in the highest offer compared to previous years.
Statistics of the 60th Campus Placement Programme
Held across 29 centers, including nine Big Centers and 20 Small Centers, the programme saw active participation from both candidates and recruiters. Here are the highlights:
Candidates Registered: A total of 15,266 newly qualified CAs registered for the placement programme, showcasing a robust interest among fresh graduates.
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Participating Organizations: 241 organizations were part of the drive, reflecting a broad industry engagement.
Job Offers Extended: 4,782 job offers were made during the programme, providing ample opportunities for candidates.
Jobs Accepted by Candidates: Out of the total offers, 3,705 candidates secured positions, indicating a healthy conversion rate.
Salary Trends: A Cause for Concern?
The highest salary offered this year for domestic postings was ₹26.5 lakh per annum, extended by Power Finance Corporation. This figure reflects a decline from the ₹28 lakh package reported during the 57th Campus Placement held in 2023. On average, the cost-to-company (CTC) for placements this year stood at ₹12.49 lakh per annum, a marginal increase over last year’s figure of ₹12.45 lakh.
Comparison with Past Editions
The 58th Campus Placement, held in September 2023, witnessed a record-breaking offer of nearly ₹50 lakh, marking the peak of salary offerings in ICAI’s placement history. However, the current year’s drop in the highest package indicates a possible stagnation in demand for top-tier candidates or a cautious approach by recruiters amidst an uncertain economic climate.
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Additionally, while the number of organizations participating in the programme has increased, the dip in the highest package suggests that companies may be looking to optimize costs in hiring.
Opinions of Veterans and Stakeholders on X
The ICAI Campus Placement Programme has consistently been a benchmark for assessing the demand for CAs in India. This year’s placement process indicates strong industry engagement, with 241 organizations participating, but also points to a need for aligning candidate expectations with market realities.
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