Experts say implementation of GST and increase in overall economic activity have increased demand for these professionals
NEW DELHI: Demand for chartered accountants (CAs) has seen a huge jump in recent times as increasing regulatory scrutiny and governance standards have forced companies to hire more of these professionals to help them navigate business.
The Times of India citing data from Institute of Chartered Accountants of India (ICAI) said a total of 3,815 job offers were made to the 6,646 qualified CAs who opted to take part in the placement cycle of ICAI in February-March 2019, up from 1,473 offers received by CAs during 2018. Pay packages, too, have improved as the highest salary in case of international job postings has now doubled to Rs 36 lakh per annum compared to last year, the daily said.
Accenture, Alstom, Barclays Global Services, Flipkart, Amazon, ITC and ANI Technologies (Ola) are some of the companies that hired CAs from ICAI campus placements this time. ICAI said there was high demand for CAs from the banking sector too.
“This placement programme has attracted the highest ever participation from recruiters, offering most positions since the inception of the institute,” the ToI report quoted ICAI president Prafulla P Chhajed as saying.
Experts say implementation of GST and increase in overall economic activity have increased demand for these professionals accountants. “New reforms in taxation and continuous changes in the Companies Act and rules have prompted enterprises to take a systematic approach to compliance, resulting in increased demand for CAs,” CIEL HR Services director & CEO Aditya Narayan Mishra said.
However, the average salary package of CAs saw a marginal deep this year because of bulk recruitments by few companies. The average salary this year stood at Rs 7.43 lakh as against Rs 8.4 lakh last year. Out of the 3,180 CAs who accepted job offers, 730 received salary packages of over Rs 9 lakh a year, and 55% landed offers in an annual pay bracket of Rs 7.5-9 lakh, the daily mentioned.
As of July 2018, ICAI had more than 2,82,000 member CAs, with over 7,25,000 students pursuing the course.
Source- Times Now.