IIM-C ends final placements with more records

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Kolkata, March 17: The Indian Institute of Management, Calcutta (IIM-C) had plenty to boast about as the 2007 final placements concluded, so it decided to buck the trend and continue to detail the salary packages secured by its stars, even as the other IIMs decided not to wash their dollars and crores in public.

The IIM-C said records tumbled across the board this year as it placed the largest batch of students at 251 across all IIMs and in the shortest time, 5 days, Day 1 of Slot 2. It also claimed to have set new parameters to judge the success of B-School placements.

The institute - the oldest in the IIM system and the second-oldest business school in India - said 89 students took up Slot Zero offers this time, up from 64 last year, which is yet again a record for Indian B-schools. It confirmed that the highest foreign salary offered to any management student ever on Indian soil went to a student of the IIM-C this year - US$ 250,000 (Rs 1.1 crore). The previous record of US$ 221,000 also belonged to IIM-C.

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. The total number of foreign accepted offers reached an all-time high of 58.

But, the IIM-C’s external relations cell said, 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 investment banks and consultants into India.

IIM Bangalore completes its Placements 2007

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IIM Bangalore lived up to its reputation of finishing its final placements in record time. This year, IIMB again created history when its entire batch of 233 second year MBA students got placed within 5 days of placements. This year, close to 90 companies visited the campus during the Final Recruitments week.

Overseas Offers
Job offers at foreign locations were given by companies across profiles, something unmatched across IIMs and certainly an indicator of IIM Bangalore’s growing clout. The campus was swarmed by new overseas recruiters like Arthur D. Little, Al Ghanim Industries, CiC International and Development Bank of Singapore, in addition to recruiters like GM Shanghai, McKinsey, British Petroleum, American Express, Citigroup, Procter & Gamble and the Arcelor-Mittal Group.

The overseas locations where the students would be moving to are New York, London, Singapore, Tokyo, Hong Kong, Shanghai, Sydney, Dubai, the West Indies, Kuwait.

Investment Banking & Consulting
Wall Street biggies like Lehman Brothers, Barclays Capital, Deutsche Bank and Merrill Lynch made a beeline to Bangalore, picking up students for their advisory, fixed income & equity research, credit derivatives structuring and interest rate & forex trading desks. With several investment banks choosing to make a large number of offers at IIMB, the institute has clearly emerged as the preferred talent source for investment banks across the globe.

The campus became a consulting aspirant’s paradise with top names like McKinsey, BCG, AT Kearney, Bain & Co., Arthur D. Little, Ernst & Young, KPMG, PricewaterhouseCoopers, Accenture and Diamond Consulting adorning the recruiters’ list.

Significant Statistics
McKinsey & Co., The Boston Consulting Group, Bloomberg, Lehman Brothers, Merrill Lynch, Procter & Gamble, Cognizant, Microsoft, IBM, GE, ICICI Bank, Citigroup, Standard Chartered, Unilever and Tata Administrative Services emerged as the top recruiters during the 2006-07 recruiting season.

Preferred B-school
About 40% of the batch received offers from leading Slot Zero Investment Banking, Consulting and Private Equity firms. First time recruiters in the IIMB campus included firms like Fidelity, Gartner, Arthur D. Little, CiC International and Al Ghanim Industries.

A unique MBA curriculum (the only one across IIMs that is thoroughly revised every 3 years and tweaked for every batch), the best student exchange program (only IIM to have partnerships with the likes of New York University, Chicago GSB, Duke, INSEAD, Maryland) and a definite focus on overall development - not just academic, all make IIM Bangalore the institute of choice, both for students & recruiters.

Click Here to see List of all Recruiters

IIM-A graduates offered more moolah than before

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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.

B-schools salaries hit the roof

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Salary levels during the final placements at the ‘younger’ Indian Institutes of Management like Kozhikode, Indore and Lucknow have risen by 30-44 per cent this year. The largest recruiters this year comprised banking and consulting companies. The same trend was seen in prominent B-schools like XLRI too.

IIM-Indore: The batch of 115 students at IIM-Indore — the youngest of the six IIMs — received a total of 329 offers, including 12 international ones. Around 67 companies participated in the final placements process, out of which 29 companies were first time recruiters. Average salary levels increased by nearly 45 per cent. The highest domestic salary was Rs 18 lakh per year as compared with Rs 12.5 lakh last year — an increase of 44 per cent. On the international front, the highest salary was $110,000 (around Rs 50 lakh) offered by Infosys. The largest recruiters this time were consulting firms with 25 per cent of the students opting for consulting companies.

IIM-Kozhikode: At the institute, 431 offers were made to 155 students of the 2007 batch? Around 88 companies participated in the recruitment process out of which 34 were first-timers. International salary level shot up by as much as 57 per cent at $110,000 (around Rs 50 lakh) per annum against $70,000 (Rs 31.5 lakh) last year. The domestic salary figure recorded an increase of 32 per cent at Rs 22 lakh per annum against Rs 16.67 lakh last year. Even at IIM-Kozhikode, over 25 per cent of the batch chose jobs with consultancy firms. Around 21 students received international offers for the US, Europe, West Asia and countries in the Asia-Pacific Region. Cognizant (15 offers), JP Morgan Chase (13 offers), Deloitte (9 offers) and Accenture Business Consulting (5 offers) were the biggest recruiters on campus this year.

IIM-Ahmedabad (Final placements to get over on Mar 15)IIM-Bangalore (Final placements to get over on Mar 12)IIM-Calcutta (Final placements to get over Mar 16)

IIM Lucknow: This institute too saw its salary levels shoot up by 40 per cent. With a graduating batch of 280 students, IIM Lucknow’s final placements saw an increase of 35-40 per cent in the salary levels. Students, however, gave more importance to the nature of job profiles that were offered. Around 554 offers were made to 280 students, including 28 international offers. Companies like McKinsey & Co, AT Kearney, Ernst & Young, Accenture, Deloitte Consulting, KPMG, PriceWaterhouseCoopers, TSMG, TAS and Bristlecone visited the campus for final placements.

XLRI: The campus recruitment process at XLRI this year saw a 50 per cent rise in average salary offered by the biggest companies across industries. The average salary offered was Rs 12.6 lakh per annum, while the median was Rs 13.06 lakh per annum, reflecting the placement performance of this institute. The lowest salary offered at the institute was Rs 8.6 lakh per annum, while highest domestic salary offered was Rs 16 lakh per annum. There were 10 foreign offers, with an average of $85000 (around Rs 38 lakh) and a highest of $100,000 (around Rs 50 lakh). Consulting majors made a beeline to XLRI, making 24 per cent of the offers.

Whopping placements at IIT-K

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KOLKATA: It’s raining ripe offers at the the 13-year-old Vinod Gupta School of Management (VGSOM) at IIT Kharagpur. This year the highest salary offer has touched Rs 15 lakhs per annum. And it’s not a one off offer. The average salary package is hovering near the Rs 10 lakh figure. The final placements of this B-school has just been concluded with a batch of 120 students placed successfully.

A stunning piece of statistics reveals it all. Sixty recruitment firms vied with each other for students and the entire batch was placed on the first day itself. IT firms have picked up the maximum number of students (35%), followed by consultancies (19%), finance (18%) and marketing (17%). The remaining slots were shared by BPOs, operations and HR. Moreover, at least 20% of the students of the batch had bagged pre-placement offers at the end of their six-month internship.

Placement coordinator and senior faculty member, Gautam Sinha, confirmed that while the highest salary figure has gone up by at least Rs 2 lakhs, there has also been a 20% hike in the average salary figure. “Most of the leading recruiters who visit the top of the line B-schools of the country, visited VGSOM this year,” Sinha explained. Among the first time recruiters who visited VGSOM this year were - Cognizant Technology Solutions, Patni Computer Systems, International Tractors Limited, Cholamandalam, Kotak Mahindra Bank, Vedanta Group and Telelogic. Regular recruiters like - IBM, ITC, Citibank, Wipro, Voltas, Covansys, HCL Technologies, HSBC Analytics, Infosys, Progeon, Maruti, Tata Motors and Ashok Leyland - were back also.

The consultancy sector was represented by the best names in business such as PricewaterhouseCoopers, Accenture, Ernst and Young, Headstrong, Mindtree and A F Ferguson. Exciting profiles were offered across domains by several organisations such as equity research (Irevana), treasury and investment banking (SBI and SBI Caps) and global leadership programme (Tech Mahindra).

Some of the most coveted profiles in sales, marketing, merchandising and branding were offered by Aricent, ITC (tobacco division), Hutch and RPG Retail. The international real estate giant - Jones Lang LaSalle - gave students an excellent opportunity to join the booming real estate consultancy domain.