The low salary has led to a wave of criticism, with many CAs questioning the fairness of the package for professionals who have passed one of the most challenging exams in India. CA Lijil Lakshman, a seasoned faculty member with a decade of experience, expressed disappointment, stating, “It is shocking that TCS, a company of such high stature, would offer such a low CTC to newly qualified CAs in 2024. This package is not only demotivating but also fails to meet the ICAI’s minimum salary standards.”
Adding to the criticism, CA Allen Alex highlighted the broader implications of such offers on the profession’s prestige. “The disparity between the demands of the CA qualification and the financial rewards being offered is a serious concern. If the industry does not appropriately value CAs, it could damage the credibility and integrity of the accounting sector,” Alex said.
Reacting to the situation, CA Himank Singla expressed his disappointment in a LinkedIn post, stating, “It is extremely disheartening to witness the recent ICAI campus placement drive, especially in light of the salary package that TCS is offering to qualified CAs. With such an impressive result, are we now seeing the demand and supply dynamics negatively impacting the prospects of newly qualified CAs?”
The news has also had a demoralizing effect on fresh graduates, many of whom feel that their hard work and dedication are being undervalued. “It’s disheartening to see that a NIFTY company like TCS is offering such a low pay to Chartered Accountants. We have invested years of effort to join the ICAI fraternity, and this offer is a blow to our morale,” commented a recent CA graduate from Kerala.
Another user, Mayank Jain, voiced his frustration, stating, “TCS offering a fixed pay of ₹3.8 lakh is an insult to our hard work and profession. Even a B.Com graduate earns more than that. What steps are ICAI and CCM taking to address this? The minimum package for metro cities should be revised to at least ₹11-12 lakh per annum.”
As the debate continues, the issue raises critical questions about the future of the profession and the expectations of young CAs entering the workforce. At the time of publishing, TCS had not responded to requests for comment.