The Institute of Chartered Accountants of Pakistan (ICAP) has announced revised minimum stipend rates for trainees, effective from July 1, 2025.
The new rates are lower compared to the previous fiscal year 2024-25, impacting various categories of trainees across different qualification levels.
Initially, under each article qualification, trainees were paid Rs. 83,000 to Rs. 85,000 after passing their exams. Since many students were qualifying, firms had to pay high stipends, which drove them to frustration. Firms argued that it was more cost-effective to retain students who hadn’t passed yet, as they were paid less. As a result, firms began losing top-performing trainees.
To address this, ICAP introduced two categories: trainees who qualify within the training period will now receive Rs. 85,000 only in the last six months, while for the rest of the training period, their stipend will be limited to Rs. 50,000.
Here’s How it Works
For trainees who have passed the CAF exam or hold an equivalent qualification (training period 3.5 years), the stipend at the commencement of training has been set at Rs. 25,000 per month, up from Rs. 22,600 last year. However, the stipend for those passing four CFAP/MSA papers or more remains at Rs. 35,000, which is a decrease from the previous Rs. 42,600 for passing all papers or a combination of three CFAP and one MSA paper.
Graduates holding a four-year degree from SDAI and RDAI (training period 3 years) will receive Rs. 31,000 at the start of their training, with increments up to Rs. 85,000 in the last six months of training. This is a slight increase from the previous Rs. 30,700 starting stipend, but a reduction in the mid-level increments.
Similarly, four-year degree holders from other DAIs with majors in accounting or finance will start at Rs. 25,000, with the stipend rising to Rs. 85,000 in the final six months of training.
Trainees with other qualifications, including a 14-year associate degree (training period 4 years), will receive Rs. 22,000 at the start, with increments up to Rs. 85,000 in the last six months.
ICAP has also clarified stipend provisions for trainees who passed CFAP/MSA papers on or before June 30, 2025. Those who passed three papers will continue to receive Rs. 30,700 per month, while those who passed four or more papers will receive the revised minimum stipend of Rs. 35,000.
Trainees who passed all required exams and are in their last six months of training will receive Rs. 85,000.
“These new stipend rates are disappointingly low, especially given inflation and the workload,” a senior trainee stated.
“But trainees really don’t have a choice. They have to accept whatever is offered if they want to complete their articleship. Most firms know this and take full advantage. Even the ones performing well or passing exams early are being penalized instead of being rewarded. It’s frustrating, but no one wants to speak up publicly out of fear of losing their spot.”