Entry-level salary for CAs raised

Companies which wish to recruit fresh Chartered Accountants (CAs) will now have to shell out more as the of Chartered Accountants of India (ICAI) has decided to advocate a 50 per cent hike in floor salary package for new accountants. This means, minimum pay for the freshly minted accountants will work out at Rs 75,000 per month. Last year the floor was Rs 50,000 per month "New CAs get solid grounding while doing their article ship and are good at managing business environment. The compensation should reflect the talent they possess," said G Ramaswamy, President, ICAI. Of a total student strength of 5,300, the institute has placed 1,800 students so far. Highest salary at the institute has been offered to three students with an annual package of Rs 67.5 lakh offered by Olam International in Singapore.