Small firms afford IIM managers

Global recession might have brought a number of top level corporate to their knees but it seems to be a "good opportunity" for numerous small and medium companies, which can now afford to hire hot-shot executives from top business schools at much "affordable" prices.

The pass-outs of the country's premier business schools like IIMs can now be hired at much lower packages than they used to get when the world economies were booming.

Analysts say, the placement scene at most of the IIMs this year is not much encouraging as compared to previous years. This year, number of big companies as well as number of international companies coming for campus placements has decreased.

"There is more than 30 per cent dip in the average salary offered to fresh IIM graduates. In IIM-A, this year's average domestic salary offer has come down to Rs 12.17 lakh from previous year's Rs 18.75 lakh," IIM-A Placement Cell Chairman, Dr Saral Mukherjee said.

He said the number of offers per students has also gone down as the recruitment process in most of the companies has come to an halt in view of economic slow down.

Similarly, the domestic average salary offered this year at IIM Calcutta has been Rs 12.70 lakhs with the highest offer at Rs 60 lakhs per annum. While the average figure for last year was Rs 16.40 lakhs.

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