AHMEDABAD, MAR 14 : The country’s premier business school, the Indian Institute of Management, Ahmedabad (IIM-A), has once again proved that its the most sought after brand in the international and domestic corporate arena.
A typical example that is often cited is that 11 of the less than 20 students from the batch of 2005-07 in the just concluded placements season have walked away with packages over Rs 1 crore.
Interestingly though, two of these 11 students have rejected their to-die-for dream offers in favour of setting up their own enterprises. Said Prof Piyush Sinha, chairman of the placements committee, “Normally, it is students with at least five to six years of work experience, who bag offers in the top bracket of overseas placements with packages of around Rs 1 crore, and are usually around 28-29 years.
This year, what is surprising is the fact that in lateral placements, those who have bagged such offers have just two to three years of work experience and are in the average age group of 22-23.”
Not only that, in a market where the ‘K’ word is not a rarity any more, with top notch b-schools in the country having at least some students bagging such offers, what singles out the IIM-A once again is the volume of students placed at that level, Prof Piyush Sinha explained.
Despite apprehensions looming large over business prospects in the global market, the average international salaries offered to graduates of of IIM-A has witnessed an increase of 25% during the final placements this year. Interestingly, the average domestic salaries offered to the country’s best B-brains has also seen a 40% rise on the back of a booming domestic economy.
Final placements this year also highlighted the growing acceptance of domestic offers and increased interest among students to start their own enterprises.
Speaking about the final outcome of Placement-2007 on Wednesday, Bakul Dholakia, director, IIM-A, said, “
Apprehensions were looming large over the business prospects in the international market, but this did not impact the international offers made to IIM-A students. On the contrary, the average international salaries offered this year has witnessed an increase of 25%.” The highest international salaries during final placements, which concluded on Monday, ranged from $225,000 -$300,000 as against $185,000 last year.
Highlighting the fact that there has been a growing preference among students to accept domestic placements over international ones, Dholakia said that the average domestic salaries has witnessed a 40% increase this year.
Eleven IIM-A students have preferred domestic placements over international offers, which also include offers by some of the leading investment banking firms.The highest domestic salaries ranged between Rs 60 lakh to Rs 1 crore depending on the minimum and average bonuses.
The lowest international salary this year was $31,800, while the domestic salary was Rs 8 lakh per annum, Dholakia said. Taking into account the increased interest among students to start their own organisations, IIM-A has also made some policy-level changes.
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