The Institute of Cost Accountants of India (a statutory body under an Act of Parliament) – the largest Cost & Management Accounting body in Asia and the 2nd largest in the world has announced that the campus placements for the session December 2017 has got an overwhelming response from PSUs, MNCs and corporate houses of India. The Institute has recently organized campus placement drive in four regions for December 2017 batch consecutively at Mumbai, Chennai, Delhi and Kolkata. A phenomenal response from the recruiters has been found this time and most of the qualified CMAs are placed through this placement initiative of the Institute.
Overall 40 companies visited the campus for the Placement Drive. This year 650 newly qualified CMAs appeared for placement interview and 240 students offered a job. This year, companies like 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, Aparna Carbons Pvt. Ltd., GST Suvidha, IRC Group, Hitaishi KK Mfg. Co. Pvt. Ltd., NIS Management Pvt Ltd,, J K Paper Limited and others participated in the campus placement drive.
The Institute organizes campus placement drive twice in every year for newly qualified CMAs – October/ November (June Batch) and April/ May (December Batch). The Bengal numbers are very impressive this year. 120 newly qualified CMAs appeared for placement interview in Kolkata. Out of which 75, approximately around 65% of the candidates appeared were selected. The highest salary package bagged from Eastern Region (3 from Kolkata, 1 Odisha, 1 Bihar & 1 Assam) is Rs. 17.5 Lacs per annum which is an all-time record from Eastern Region. The Placement Directorate of the Institute is taking an initiative for the first time to place rest of the students through Summer Campus placement during June 2018.
The highest salary package offered nationally this year is Rs. 18 Lacs per annum and the average CTC offered is around Rs. 7 Lacs per annum. More than 15% of the candidates were selected in the top salary bracket of Rs. 11 Lacs – Rs. 18 Lacs per annum.
CMA Sanjay Gupta, President- ICAI said – “We are very pleased with the kind of response we have received from Corporates across India. There has been a steady rise in interest from PSUs, Indian and global companies visiting ICAI campus for placements. It’s a very positive sign that’s the companies have started understanding the importance of CMA professionals in the changing business scenario. Our placement team is working very hard in this regard and we expect the number will further go up in the next season with the participation of more and more PSUs, MNCs and corporate houses of India.
CMA Manas Kumar Thakur, Immediate Past President, Chairman – Training & Education Facilities, Placement Committee and Board of Advanced Studies, ICAI said- “Our students have continued to find opportunities with some of the best organizations of India. While our placement number has 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 on the average and maximum salary package over last year. We are expecting a steady rise on 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.”