While the final placement for this year’s Post Graduate Programme (PGP) batch at the Indian Institute of Management, Ahmedabad (IIM-A) was marked by a significant increase in domestic and international salaries with the highest international salaries crossing Rs 1-crore mark, there was a noticeable increase in the number of students opting for offers to start their own ventures. Also, the placement was marked by a significant number of students rejecting offers from international companies in preference for domestic ones.
A total 235 students of IIM-A participated at the final placements held between March 8 and March 12. According to figures released by the institute, the highest international salary moved beyond Rs 1-crore mark, at Rs 1.12 crore ($225,000) to Rs 1.50 crore ($300,000). Highest domestic salaries remain in the range of Rs 60 lakh to Rs 1 crore, depending on bonuses. Figure for minimum salary was, however, not much encouraging, with the domestic minimum standing at Rs 8 lakh and international minimum around Rs 15 lakh ( $31800).
The salaries offered to the students by both, international and domestic recruiting firms, have registered an increase over the last years. From 2006, the average domestic salary increased by 40 per cent to Rs 13.6 lakh per annum as against last year’s average of Rs 9.72 lakh. Similarly, the international average stood at Rs 57 lakh, a rise of around 25 per cent.
“Shadow of recession in global market has created all kind of uncertainty, so we were apprehensive about international salary. However, it did not affect us and there was significant increase in international salary packages over last year,’’ said Bakul Dholakia, IIM-A Director.
The institute considered it an achievement to have 11 students from 2007 batch to have opted out of placements or rejected job offers to start their own enterprises. “We have encouraged students to take up path of entrepreneurship. We have even come up with the incentive for entrepreneurs to participate in placements one or two years down the line if they wish so,’’ Dholakia said.
Many students this year went ahead to reject international offers to opt for Indian locations. While a total 63 students accepted international placements, there were 11 who received international offers but preferred to stay back. Jatin Mamtani, who was offered a job in a financial firm in New York preferred a job in a consulting firm in Mumbai. “I prefer consulting to finance. With India doing economically better, we will get lots of opportunity to grow here,’’ he said. While from a total of 86 firms coming to the campus for placement, investment banks and consulting firms such as Bain, BCG, Deutsche Bank, Lehmann Brothers, McKinsey, Merrill Lynch visited the campus for yet another year, there were also some new visitors like Blackstone Real Estate, Fischer Jordan, ING, Opera Solutions and Value Partners.
Courtesy : Expressindia.com
A total 235 students of IIM-A participated at the final placements held between March 8 and March 12. According to figures released by the institute, the highest international salary moved beyond Rs 1-crore mark, at Rs 1.12 crore ($225,000) to Rs 1.50 crore ($300,000). Highest domestic salaries remain in the range of Rs 60 lakh to Rs 1 crore, depending on bonuses. Figure for minimum salary was, however, not much encouraging, with the domestic minimum standing at Rs 8 lakh and international minimum around Rs 15 lakh ( $31800).
The salaries offered to the students by both, international and domestic recruiting firms, have registered an increase over the last years. From 2006, the average domestic salary increased by 40 per cent to Rs 13.6 lakh per annum as against last year’s average of Rs 9.72 lakh. Similarly, the international average stood at Rs 57 lakh, a rise of around 25 per cent.
“Shadow of recession in global market has created all kind of uncertainty, so we were apprehensive about international salary. However, it did not affect us and there was significant increase in international salary packages over last year,’’ said Bakul Dholakia, IIM-A Director.
The institute considered it an achievement to have 11 students from 2007 batch to have opted out of placements or rejected job offers to start their own enterprises. “We have encouraged students to take up path of entrepreneurship. We have even come up with the incentive for entrepreneurs to participate in placements one or two years down the line if they wish so,’’ Dholakia said.
Many students this year went ahead to reject international offers to opt for Indian locations. While a total 63 students accepted international placements, there were 11 who received international offers but preferred to stay back. Jatin Mamtani, who was offered a job in a financial firm in New York preferred a job in a consulting firm in Mumbai. “I prefer consulting to finance. With India doing economically better, we will get lots of opportunity to grow here,’’ he said. While from a total of 86 firms coming to the campus for placement, investment banks and consulting firms such as Bain, BCG, Deutsche Bank, Lehmann Brothers, McKinsey, Merrill Lynch visited the campus for yet another year, there were also some new visitors like Blackstone Real Estate, Fischer Jordan, ING, Opera Solutions and Value Partners.
Courtesy : Expressindia.com