New CAs Opt For Jobs Over Practice | Here's What ICAI President Ranjeet Agarwal Has To Say | ET Now

ICAI President Ranjeet Agarwal revealed that the institute has 4.25 lakh registered CA members, with 1.60 lakh CAs in practice and the remaining 2.65 lakh working in various industries such as mutual funds, banking, insurance, legal, startups, and more. New CAs opt for industry jobs over practice, drawn by ₹8-10 lakh starting salaries. Female participation is significant, with every third CA being a woman. The new syllabus has attracted 1.38 lakh registrations, focusing on comprehensive training and data analytics. ICAI initiatives like CAgpt and Ind AS adoption aim to make practice more attractive, aligning with global best practices.

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[fruitspunchsamurai]

To all my fellow CAs here, I have a request for all of you. Let our juniors and other students who are planning to get into CA know that it's not worth it. The Risk-Reward ratio here is a joke. Sacrificing 5-6, 7, 8, 9 years of our lives and mental health, studying 2-3 degrees worth in a single go, clearing those tough exams with arbitrary evaluations only to see a Btech grad who learnt a course earn more than us doing a job which they got through a referral or back door and having a better work life balance. Cherry on top is the same big 4 companies pay 9lpa to CAs while paying 15-20lpa for these techies.

[WhyyVarun_]

I request president to atleast raise the basic pay for article minimum 20k.. even a labour earns more than article.. if a student goes for articleship in other town the basic rent is 10k .. further the Salary of a CA has been so low being such a prestigious profession its not justfied at all! A MBA student from IIM gets a package of 20 lpa and a CA 10lpa .. please set some standards on it!

[FS]

Neeraj Chopra - 89.49 meters
This guy - 8949 meters

[ajitshaw]

Money spent is peanuts, but opportunity cost, anxiety, frustration is phenomenal worst condition of article in many firm is not good. CA course is not same for every one sir.

[Sky-zxzw]

There is no consistency in pass percentage of CA exams, sometimes papers are made so easy, that pass percentage crosses 20% and sometimes, they are made so difficult, lengthy, that pass percentage is hardly 8-10%.

There should be parity in pass percentages over attempts.

[MoonKnightMK]

1:12 - Start

2:46 - Youngsters don’t have patience

[omagrawal]

If 8-9 lacs is peanuts, then why did you approve of 9 LPA CTC? Make it at least 15 LPA. You only are the president sir. Don't blame members for not opting for practice, instead create better opportunities in industry through ICAI.

[AJAYBANSAL]

CA degree originally meant for attestation authority as being Auditor.
That was real "Chartered Accountant"
In my opinion, now ICAI is producing qualified accountants for jobs in industry.
An intelligent commerce graduate, who have some experience in taxation, can also do almost same job. Somewhere they are also getting more salary than CAs in Industry.
Still more professionalism, expertise, deep insights and long vision qualities of CA can not be denied.
But whether so long and hard course that take so many years, justify with outcome?
Why new CAs are doing jobs in a stressfull corpoeate culture and in a hirerachy where boss is right?
If there are ample opportunities in practice, then hardly a few will go in jobs.
Industrial job is not an opportunity, its a compulsion of non opportunity in practice.
We are originated for auditing the accounts, not for accounting.
We are made for assuring accounting and tax compliances to authorities, not for doing job under businessman.
Just my personal views.

[gop]

Now CA practice is become impossible.
New generation is aimed to pass CA only .Their focus is only for studies and not to do poorly paid stipend.They don't want to spoil by doing sincere work which only academic Article ship is glorified slavery only.
Nowadays most of accounts are made using computer's and CA life is dedicated to research in accouting standards and income tax.So poor computer knowledge made their job at high risk.Nobody knows what is true interpretation in GST laws, apparently very simple but interpretation is very complex.
Last but not least only unlucky students will join this courses.The remuneration is very less compared to the responsibility.Moreover the Institute is more interested in generating new standards rather than condition of students and role of institute for spoiling bright future.
Compared CA a good central government job is more lucrative.

[CAanuragshukla]

CA is economical course for a lower income group students and no competition and reservation. Agar ye teen benefit na ho to lucrative nahi hai. Goverment job grade A me competition and reservation and private se padhai ke liye paisa fenko tamasha dekho wala scene hai.

[CA_Hardev_Jadeja]

No English language is harmed by Mr president 😂

[ccchapagain]

1. qualified CA
2. Searching for job
3. Not found a decent job yet?
4. Not found a decent job yet 😢

[YOGESHJOSHI]

one and only reason - Non CA in town practice showing themself CA and capturing market. so new CA coming have to file ITR @ 299

[anubhavganguly]

Why is it always pointed out girls are interested. Girls should be joining all professions not only CA. Please stop using Girls admission to CA as a parameter to judge the growth opportunities in CA profession.

[Pranav_]

students comparing CA and MBA may seek admission in IIMs by clearing CAT with 99+ percentile and clearing GD and PI rounds instead of crying in comments....

[CA_Buddy]

Accounting with innovation 💡
Auditing with innovation 💡

[samratsaha]

Practice has become very difficult due to unusual increase in Tax consultant, accountant and fake CA.

As a practicing CA in a very small district Kokrajhar, Assam, almost most of the work is done by accountants and tax consultants. Our market is already dominated by them. Very difficult to get new clients.

[gyanendrakami]

Must Read:

The current articleship scheme carry challenges that can challenge students' career growth. The limited choices—either rotating through various roles (all different roles) or specializing in one—often leaves students unprepared for the demands of the job market. Mid-sized firms may not provide enough depth, while Big 4s restrict exposure to a single area, leading to skill gaps in other critical fields.

*To address this, some steps should be taken by ICAI. Students should be given exposure to multiple roles, like audit, taxation, and advisory, in the first year. This allows them to discover their strengths and interests. In the second year, they should specialize based on their performance and preference, which would not only align with their career goals but also make them more effective in their roles. This approach benefits both the students and firms, reducing turnover and enhancing long-term efficiency.*

ICAI should consider such changes to improve the articleship experience and ensure students are better prepared for their future careers.

Articleship is not about learning experience it's about getting cheap labour force. It's also exploiting dream of youth like UPSC. Indian professional bodies are becoming core hub for exploration.

[Onestaller_finance]

Salary of Average CA in 2009 as Fresher: 6-12 lakhs
Inflation Adjusted in 2024 should equal to 15 lakhs -27 lakhs, but in reality Only Ranker gets 15-27 lakhs package