The Institute of Cost Accountants of India (ICAI) conducted their placement drive for their April-May batch from Delhi, Kolkata, Mumbai and Chennai in December 2018.
The Institute of Cost Accountants of India (ICAI) conducted their placement drive for their April-May batch from Delhi, Kolkata, Mumbai and Chennai in December 2018. Nearly 650 newly qualified Cost Management Accountants (CMA) appeared for the placement and 240 of them secured a job from the placement drive. According to a press release released by ICAI the highest salary package offered this year was Rs 18 lacs per annum, 5 candidates from Delhi were offered 2nd highest package of Rs. 17.5 lacs per annum and more than 15 per cent of the candidates secured a job in the top salary bracket of Rs 11- 18 lacs.
Some of the prominent companies that came for placements from ICAI this year includes: GAIL, ONGC, IOCL, POSOCO, Vedanta, Accenture, HUL, Reliance Industries Ltd., Nestle, Kotak Mahindra Bank Limited, ITC Ltd – Food, ITC Ltd (Internal Audit), PricewaterhouseCoopers (PWC), Peerless Securities, NLC India ltd., KPMG, ITC Limited – Lifestyle Retailing Business, Saint-Gobain, RSM Astute, Wipro, Sundaram – Clayton Limited, Sundaram – Finance, Prism Cement, RSM Astute, ART Affordable Housing Finance, Tax Connect, Berger Paints, YES Bank.
CMA Sanjay gupta, the President of ICAI said, “We are very pleased with the kind of response we have received from Corporates across India. There have been a steady rise in interest from PSUs, Indian and global companies visiting the ICAI campus for placements. It is a very positive sign that the companies have started understanding the importance of CMA professionals in the changing business scenario.” He further added, “Our placement team is working very hard in this regard and we expect the numbers to go up further in the next season with the participation of more and more PSUs, MNCs and corporate houses of India.”
CMA Manas Kumar Thakur, the chairman of Training & Education Facilities, Placement Committee and Board of Advanced Studies of ICAI said, “Our students have continued to find opportunities with some of the best organizations of India. While our placement numbers have been very impressive till date, we are expecting all our students to bag a job by the end of the placement drive. In 2018, there has been a huge rise in the average and maximum salary package over last year. We are expecting a steady rise in the average salary package with more and more companies participating in the campus placement drive. The awareness level is also on the rise as more students are considering Cost Management Accounting as a career option. This, in turn, will help to bridge the demand-supply gap. The Institute is also working in the same direction.”
ICAI is the world’s second largest Cost & Management Accounting body, and the largest in India. Ever since its initiation by an Act of Parliament in 1959, it has approximately 5,00,000 students and 70,000 members all over the globe.