Press Trust of India
New Delhi, Jan 31: Business schools had a strong placement season this year with rush of offers from domestic as well as international MNCs and average salaries witnessing a double digit growth. Reflecting the optimistic business sentiment, corporates across industry verticals showed keen interest in this year’s placement season. Moreover, many firms also increased their number of offers this year and hiked the average offer size.
Some of the country’s leading business schools like IIM Bangalore, IMI – New Delhi, and IIM Kozhikode are revelling in robust placements results. IIM Kozhikode, saw over 119 recruiters and 370 offers. The average salary offered to the students was Rs 17.1 lakh per annum, a rise of 12 per cent from last year and highest domestic package offered was Rs 37 lakhs per annum. IMI New Delhi, also saw robust placements particularly from the BFSI, FMCG, IT and manufacturing sectors. Offers from the analytics and the consulting domains also increased.
“Recruiters have also increased their compensation with the average compensation rising to Rs 14.9 lakh per annum. The highest salary offered at IMI New Delhi this year is Rs 29 lakh per annum,” IMI – New Delhi Professor of Marketing & DEAN (Placements & Corporate Relations) Manaswini Acharya said. IIM Bangalore also successfully concluded an accelerated summer placement. This year IIM Bangalore saw participation of 410 eligible students and over 150 companies came to hire students for summer stint in roles such as consulting, investment banking, sales and markets and product management among others.
Ankur Agrawal, Placement Representative IIM Bangalore said, “Consulting firms continued their preference towards hiring IIMB students with some of them making unprecedented number of offers. Also, marquee and first time PE/VC firms added to the quality of offers rolled out to the students.” Around 30 per cent of the entire batch received offers in consulting sector, which also included names like Bain & Co, Strategy&, A T Kearney and Roland Berger among others. Accenture with 16 offers and McKinsey & Co with 12 offers were also top recruiters this year.
Meanwhile, at the end of recruitment cycle for summer internship 2016, across Indian Institute of Managements (IIMs), the Boston Consulting Group made 71 offers at IIM Ahmedabad, IIM Bangalore, IIM Calcutta and IIM Lucknow. The E-Commerce space also saw heightened interest with Amazon, Flipkart, Snapdeal, Hopscotch, Uber, Myntra, Ola Cabs, Quikr, Infoedge, LinkmySport and Channelplay participating in the summer recruitment process. Private Equity/Venture Capital roles by Blackstone, IDG Ventures and Brand Capital were offered to the students. Regarding the overall hiring scenario, Souvik Bose, Co-founder & Director, YOMA Multinational, said: “This year hiring would be dominated by E-commerce and Make in India initiatives. Manufacturing and engineering is another area where there would be substantial hike in the hiring.”
