Analysis of CA Final Results for May 2021

Executive Summary






As usual the CA Final Results created a bell curve of happiness for the candidates.

There were 149,091 students who appeared for the exams (33,549 from Old Scheme and 115,542 from New Scheme).

Its ~10,000 new CAs, as compared to ~13,274 CAs in a term since last 3 terms. This is a whopping 25% dip.


In ICAI Campus Placement for April-May 2021 and Feb-Mar 2021, there were 3,507 acceptances. (Highest CTC of INR 25.31 lacs p.a.)




So, if we extrapolate that to the current lot, ~35% of the cohort can be placed through campus.

The rest, who opt for industry, are absorbed in the off campus processes through direct applications and through agencies like

If you are seeking to recruit through domain specialists like on a ‘success fee’ basis, you can recruit quicker and without the fixed fee that ICAI charges

125+ companies in India have used in the past for hiring CA freshers and laterals, on a purely variable fee model


This term sees a continued shift of examinees from Old Scheme to New Scheme.  The former is now being phased out and May 2021 was supposed to be the last term for Old Scheme, but now ICAI has announced that there will be another term allowed to these candidates.

There was a good improvement in the pass percentage for Group 1 and a massive dip for Group 2

(Weighted Average for Old and New Schemes is 18.31%) (Old Scheme is 10.73% and New Scheme is 20.23%)

(Weighted Average for Old and New Schemes is 16.07%) (Old Scheme is 12.87% and New Scheme is 17.36%)

Only 2932 candidates out of 27930 candidates i.e. 10.5% who appeared for both groups cleared both groups. (1.57% in Old Scheme and 11.97% in New Scheme)