02-26-2010, 10:12 PM
Dears
Humble stipend levels had always been a source of frustration of CA trainees, and there were days not very far ago when stipend ranged from Rs. 1,500 to Rs. 2,500, the reasons were quite obvious and need not to be repeated here. Situation is comparatively better now. If anybody considers that training is taken as commercial activity from students perspective he surely is mistaken. However, there were students who had to meet their complete expenses out of their stipends, I wonder how they used to do.
According to my experience, no one on this forum or anywhere else ever expressed his concerns that increasing the stipend level may lead to the situation that is currently being faced by CA Inters struggling to get a training contract. No one should doubt that the increase in stipend become one of the reason for the current situation. However, unfortunately timing proved to be wrong, a thorough deterioration in market was experienced due to some unknown reason (not the global financial slump) after the step of increment in stipends by the Institute. Had market not gone that worse, only the increase in stipend rates won't have fetched current situation. So reason number one obviously is market situation, that got coupled by a humble increase so rigorously referred to as the prime cause by many. In addition to these two a third reason was there as well, lack of foresight and prudence in recruitment policies by some of the firms, owing to the growth in the magnitude of work load towards the mid of the previous decade and anticipating similar increase in future some firms recruited students idiotically, this can be confirmed by comparing the number of current trainee students with corresponding figures some years ago.
Training in industry may not be allowed in near future at least. In addition to the limitation of exposure a well-informed person on the issue was of the opinion that industry may not be having acceptance as well. Reasons; that why an employer will recruit a person to train him who will obviously quit at the time of payback (completion of training) and secondly allowing consistent exam leaves may not be easy as well.
Students obviously are facing real difficulties in finding firms but I will agree to the point made by Mr. Kamran that situtation exactly has not deteriorated that much. Still inductions are their and capacity is there. There used to be a time when small practices struggled to have students and now may be its time for them as well to have some CA Inter as well.
A point pertinent with the discussion here that why the Institute is not doing anything about the exploitation of students in the form of unregistered period that may extend unlimitedly. Many students are working as volunteer unregistered students (without any remuneration) for a period that may extend to one year or beyond (six months are quite common) in anticipation of having training contract. Sometimes they are not provided with exact dates when their registration will be entertained and at some other occasions, not very infrequent, such limits are not complied with.
Regards
Shoaib
Humble stipend levels had always been a source of frustration of CA trainees, and there were days not very far ago when stipend ranged from Rs. 1,500 to Rs. 2,500, the reasons were quite obvious and need not to be repeated here. Situation is comparatively better now. If anybody considers that training is taken as commercial activity from students perspective he surely is mistaken. However, there were students who had to meet their complete expenses out of their stipends, I wonder how they used to do.
According to my experience, no one on this forum or anywhere else ever expressed his concerns that increasing the stipend level may lead to the situation that is currently being faced by CA Inters struggling to get a training contract. No one should doubt that the increase in stipend become one of the reason for the current situation. However, unfortunately timing proved to be wrong, a thorough deterioration in market was experienced due to some unknown reason (not the global financial slump) after the step of increment in stipends by the Institute. Had market not gone that worse, only the increase in stipend rates won't have fetched current situation. So reason number one obviously is market situation, that got coupled by a humble increase so rigorously referred to as the prime cause by many. In addition to these two a third reason was there as well, lack of foresight and prudence in recruitment policies by some of the firms, owing to the growth in the magnitude of work load towards the mid of the previous decade and anticipating similar increase in future some firms recruited students idiotically, this can be confirmed by comparing the number of current trainee students with corresponding figures some years ago.
Training in industry may not be allowed in near future at least. In addition to the limitation of exposure a well-informed person on the issue was of the opinion that industry may not be having acceptance as well. Reasons; that why an employer will recruit a person to train him who will obviously quit at the time of payback (completion of training) and secondly allowing consistent exam leaves may not be easy as well.
Students obviously are facing real difficulties in finding firms but I will agree to the point made by Mr. Kamran that situtation exactly has not deteriorated that much. Still inductions are their and capacity is there. There used to be a time when small practices struggled to have students and now may be its time for them as well to have some CA Inter as well.
A point pertinent with the discussion here that why the Institute is not doing anything about the exploitation of students in the form of unregistered period that may extend unlimitedly. Many students are working as volunteer unregistered students (without any remuneration) for a period that may extend to one year or beyond (six months are quite common) in anticipation of having training contract. Sometimes they are not provided with exact dates when their registration will be entertained and at some other occasions, not very infrequent, such limits are not complied with.
Regards
Shoaib
