The economic slowdown seems to have had an impact even on placements at India’s premier B-school, Indian Institute of Management, Ahmedabad.
This year, in terms of salary packages for the post-graduate programme, the maximum earning potential for domestic recruitments dropped by eight per cent to Rs 37 lakh. Last year, the figure was about Rs 40 lakh.
The maximum earning potential is the total of the fixed yearly component, one-time cash benefits, maximum possible performance-linked compensation during the first year and all other salary components.
The minimum earning potential, too, fell 13 per cent to Rs 6.5 lakh from Rs 7.5 lakh last year.
In addition, international hiring at IIM-A nosedived 65 per cent. Of the 360 students who were part of the B-school’s placement process, only 15 were placed in international locations compared to 42 last year. The maximum earning potential in the salary package for international placements declined to $150,000 this year from $166,926 last year.
“More than 130 firms participated in the placement process in 2013, including the laterals (placements for graduates with work experience) process. Among global investment banks, Goldman Sachs was the largest recruiter, having picked seven students for roles in financial markets as well as quantitative strategy,” said IIM-A, in an official statement.
The maximum salary package for domestic placements came from the banking and financial services sector, with a total guaranteed cash payment of Rs 35 lakh. The median for the domestic salary package (mid-point between highest and lowest salary) was Rs 16 lakh this year.
Banking and financial services, consulting and the IT sector companies offered the highest salary packages.
In terms of volumes, the consulting sector offered the maximum number —114 — of jobs. Boston Consulting Group was the top recruiter, having picked 15 students. Among the new sectors, 27 graduates bagged offers from online services and real estate companies.
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