IIM-B Grads Get More Foreign Offers This Time - The New Indian Express

IIM-B Grads Get More Foreign Offers This Time

Published: 18th February 2014 07:30 AM

Last Updated: 18th February 2014 07:30 AM

Consultancy, banking and financial services firms were the top recruiters this year at the Indian Institute of Management, Bangalore, where the final placement process of the 2012-14 batch was officially closed in a record time of four days.

The placement process that concluded on Friday saw a total of 428 offers being bagged by 386 students of the flagship Post Graduate Programme (PGP). The average salary received by the students this time is Rs19.5 lakh per year, a 13 per cent increase from last year’s average of Rs17.2 lakh.

“The average work experience of this batch was 22.3 to 24 months. It is clear that the domestic market has seen an increase in terms of the job offers and the package. The average salary for students with no prior work experience is Rs 17.4 lakh,” Prof Sankarshan Basu, chairperson, IIMB Career Development Services, told a press conference here on Monday.

The final tally of 428 offers includes 117 pre- placement offers (for those who were offered jobs in companies where they interned) and 127 lateral placement offers (for candidates with more than 22 months of work experience).

“As many as 41 candidates were offered international placements, up from 21 last year,” Basu said.

About 27 per cent of the offers were made by consultancy firms such as McKinsey&Company, Boston Consulting Group among others, followed by 19 per cent offers by banking and financial services firms, 17 per cent by IT companies and 14 per cent by general management companies.

LinkedIn, Akshaya Patra Foundation and 39 other companies visited IIMB this year as first-time recruiters.

Nine students joined not-for-profit companies, including RuralShores (rural-based BPO) and Narayana Hrudayalaya. “As a matter of policy, we don’t reveal details about the highest salary offered. Earlier, when we provided this information, the student concerned received extortion threats,” Basu said.

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