In an indication of high demand for accountancy professionals, companies have recruited 952 chartered accountants with an average annual pay package of around Rs 7.28 lakh through ICAI campus placement.
The offers were made by companies during the placement programme, conducted across 19 cities, by the Institute of Chartered Accountants of India (ICAI) in the August-October period this year.
The highest remuneration offered for domestic posting was Rs 17 lakh per annum, while highest salary stood at Rs 24 lakh per annum for an international placement.
"As many as 952 chartered accountants accepted the job offers and the average CTC (Cost to Company) offered was about Rs 7.28 lakhs per annum", ICAI said in a statement on Monday.
Reliance Industries, Tata Consultancy Services, Federal Bank, ITC, ICICI Prudential Life Insurance, Cairn India, Coca Cola India, L&T, Marriot Hotel, Jindal Steel and Power, Wipro, Bharat Petroleum Corporation, Engineers India and GAIL India were among the recruiters that participated in the campus placement programme.
The government is undertaking several initiatives in key sectors and financial inclusion is going to be a key growth area.
"Accountancy is one of the most significant segments of the rapidly expanding economy", ICAI President K Raghu said.
"It is seen that the CAs are in great demand not only in the traditional sectors like banking, financial services or manufacturing but even in the new generation sectors like the IT, ITS, telecom, Risk and Assurance Services, Infrastructure and Retail", Raghu added.
Of the total 952 candidates, the maximum number of candidates (336) were offered an annual salary package in the range of Rs 6-7.50 lakh.
As many as 246 students would receive a renumeration of Rs 5-6 lakh, while 201 were offered a package of above Rs 9 lakh per annum. Besides, 135 candidates were offered Rs 7.50 - 9 lakh in annual salary, 21 would get Rs 4 - 5 lakh and 13 would earn Rs 3-4 lakh per year.
"Chartered Accountants today are technically equipped to act as management consultants and play a vital role in assisting business and industry to improve the use of their resources, increase their efficiency and achieve their objectives", Raghu noted.
ICAI organises campus placement programmes for newly qualified chartered accountants twice a year.