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B-schools salaries hit the roof

March 09, 2007 01:29 IST
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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 percent 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 percent. The highest domestic salary was Rs 18 lakh per year as compared with Rs 12.5 lakh last year -- an increase of 44 percent. 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 percent 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 percent 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 percent at Rs 22 lakh per annum against Rs 16.67 lakh last year. Even at IIM-Kozhikode, over 25 percent 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 Lucknow: This institute too saw its salary levels shoot up by 40 percent. With a graduating batch of 280 students, IIM Lucknow's final placements saw an increase of 35-40 percent 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 percent 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.

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