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Pertaining to ongoing economic slowdown, the average salaries
have dropped this year at all Indian B-schools, with the salary
at the most-prestigious IIM Ahmedabad dipping by as much as
25-30 per cent as per the uncomfirmed reports available in
media.
By the time the final placements concluded at IIM-A, the average
domestic salary drawn was Rs. 12.17 Lakhs while the
international salary average stood at US $ 83,000. As reported
by The Financial Express, “Despite being the worst hit as well
as the most vulnerable sector right now, finance saw the highest
percentage of acceptance at 39 per cent. This was followed by
consulting (24 per cent), marketing (13 per cent), general
management (9 per cent), systems (6 per cent) and others with 6
per cent (including media, rating agencies, manufacturing
sector). Overall, the highest number of offers were made by the
Union Bank of India (18).”
But the good news is that IIM-A has managed to place all it’s
students within a span on 9 days, starting on February 25, and
ending on March 5. Reports IndianExpress.com, “About 252
students of Post Graduate Programme in Management (PGPM) and 21
students from PGP in Agri Business Management (PGP-ABM) took
part in the placement process. Seven students from PGPM and one
student of PGP-ABM have opted to start their own ventures.”
With all students placed, IIM-A Director, Dr. Samir Barua,
virtually breathed a sigh of relief.
“That we are able to place all our students despite the
unprecedented meltdown is no mean an achievement,” Dr. Barua
said, further claiming that it was because the institution this
year invited more companies to participate in the campus
recruitment in view of the meltdown and also insisted on top
executives of the recruiting companies to personally attend the
process, which took more time than usual. “And, yes, slowdown
has also impacted,” he admitted.
A story in The Hindu provides further details of the Final
Placements at IIM-A.
“As many as 109 companies participated in the process, of which
95 companies recruited from the campus… The overall domestic
offer also declined to about 15 per cent as against more than 20
per cent last year… A significant change this year were the
offers made by the domestic public sector organizations that
came in large numbers. Union Bank of India recruited 18
students, the Bank of Baroda 6, Indian Oil Company Limited 5 and
many others like STCI, SEBI, IFCI, BPCL, ICRA and others came to
the campus. As many as 25 companies were first-time recruiters
though most of IIMA’s old associates were also present.”
The other prominent recruiters included Bain and Company and
McKinsey and Company, both with 8 acceptances each, Boston
Consulting Group and TAS 7 each, and first time recruiter Frost
& Sullivan 5. The process also saw participation from Unicon
Securities, which made 12 offers, and the global network giant
Alcatel-Lucent, which made 5 offers.”
The Times of India also gave credit to PSUs for being a big draw
at IIM-A placements, “Thanks to the slowdown, placements for the
2007-09 batch saw government banks and public sector units (PSUs)
take a huge share of graduates from this premier business
school. The PSUs in total took 41 students out of a total of 235
from the batch – a huge gain considering that they drew a blank
over last two years.”
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