IIM Calcutta wrapped up its Final Placements season for 2006-07 in style, with records tumbling all over the place. While it lived up to its record of placing the largest batch of students across all IIMs (251 this year) in the span of time (5 days, Day 1 of Slot 2). 89 students took up slot 0 offers this time, up from 64 last year. The highest foreign salary offered to any management student went to an IIMCian this year – US$ 250,000(Rs 1.1 Crores). This offer was made to two students by a leading investment bank for their New York desk. Of course, the previous record of US$ 221,000 also belonged to IIM-C.
Pay Packets
The highest domestic salary offered was a whopping Rs 40 lakhs. Unlike most B-Schools these were not mere outliers, proven by the staggering rise in the domestic average salary in Slot 0 to Rs 20.9 lakh from Rs 14.8 lakh last year.
India Calling
The total number of foreign accepted offers reached an all-time high of 58. But the most heartening aspect of the placement season has been the preference shown by many students for domestic offers. Over a dozen students rejected overseas offers to stay back in India though in the same industries and companies, pointing towards a healthy trend in recruitment at the top B-school. This is mainly due to the booming growth story of India and the surge of the investment banks and consults into Indian soil.
New Recruiters and the Finance Stronghold
Apart from the usual suspects – world’s leading strategy consulting firms and investment banks – there were several firms that chose to recruit exclusively from the Calcutta campus. Value Partners, Optiver, BNP, among others, decided to give all other B-Schools a by and pick all their fresh recruits from IIM Calcutta. Optiver is a trading brokerage firm that usually limited its recruitment drive to Ivy League management schools before this and since it lays a lot of emphasis on quantitative skills IIM Calcutta is a natural choice. The curriculum at the institute is very well suited to produce potential stars for finance firms, and that is why they are lapped up the moment they pass out.
An Ivy League Institute in India With multiple investment banks offering Associate positions to 4 students and consulting firms offering positions usually offered only to Ivy League schools, IIM Calcutta alumni have earned the institute the deserved right to be ranked amongst the top B-Schools across the globe.Emerging Markets – Emerging IndustriesIn addition to Investment banks, firms from retail and supply chain management also offered foreign locations. Another trend of note was the influx of firms from the middle- east. The increase in offers from Singapore, Hong Kong and other South East Asian and East Asian markets is a testament to the trust in IIM Calcutta’s talent to lead the growth in these sunrise industries and high growth markets.
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