Average salaries of B-school students rose by 20 percent as placements, the key indicator of the jobs scenario, concluded for the current year. Consulting dominated placements with the maximum number of jobs being offered to students.
The rise in salaries was witnessed across management institutes. While some of the premier Indian Institutes of Management (IIMs) do not reveal salary details, sources told Moneycontrol that there was an 18-20 percent increase in compensation packages offered by top companies.
Offers in investment banking made a comeback, which was negligible over the past two years.
The final placement process for the Class of 2019 of the Post Graduate Programme (PGP) in Management at IIM Ahmedabad was successfully completed.
Overall, 139 firms made 184 offers during the placement process at IIM-A. Accenture Strategy made 24 offers (including pre-placement) which was the highest by a company, followed by BCG with 20 offers. Among investment banks, Avendus was the largest recruiter, making nine offers, closely followed by JP Morgan that made eight.
At IIM Ahmedabad, Private Equity & Venture Capital (PE/VC) witnessed a 200 percent increase in participating firms as compared to last year, with recruiters like Matrix Partners and SAIF Partners joining the bandwagon.
Banking, Financial Services & Insurance (BFSI) recruiters included firms like American Express and FinIQ. Sales and marketing roles were offered by companies like HUL, Nestle, P&G, Reckitt Benckiser and Wipro Consumer Care among others.
The general management cohort saw participation from Aditya Birla Group, C K Birla, RPG Group and Tata Administrative Services among others. Consumer Services saw participation from firms like Etihad Airways, IndiGo & Tata Sky. The consumer technology cohort saw participation from firms like Microsoft, Ola, Oyo Rooms, Paytm, Uber and Zomato among others.
According to Kautuk Kushansh, Recruitment Secretary at IIM Ahmedabad, “This placement season, we saw a lot more students exercising their options to pursue their target sectors through dream applications. Further, in line with the demand from the batch and in continuation of the summer placement process, we strengthened cohorts such as PE/VC and asset management by adding newer firms.”
XLRI-Xavier School of Management
XLRI-Xavier School of Management completed final placements for students of the 2017-19 batch in just two days. The average salary increased to Rs 22.35 lakh per annum from Rs 20.1 lakh per annum last year.
A total of 104 recruiters with 362 domestic and international positions hired students from XLRI- Xavier School of Management. The highest offer stood at Rs 50 lakh, which was from the BFSI sector.
There were 19 first-time recruiters that visited the campus. Some of them include Allianz Global Investors, Bain & Company, Adani Group, Jubilant Foodworks, Rivigo, Experion, Belden, Xiaomi, Google, Udaan among others.
Uday Damodaran, professor and chairperson, placements (2 year PGDM programmes), XLRI- Xavier School of Management said that this has been a good year for both summer and final recruitments.
Boston Consulting Group made the highest number of offers among other regular recruiters such as Microsoft, Amazon, P&G, Aditya Birla Group, ITC, Avendus Capital, Hindustan Unilever and others.
International Management Institute Kolkata (IMI Kolkata), an initiative of the RP-Sanjiv Goenka Group, concluded final placements for the class of 2019 with over 32 recruiters participating in the campus recruitment process, making offers to 110 candidates who had opted for final placements in the seventh batch.
For the second consecutive year, IMI Kolkata’s students bagged Rs 20 lakh domestic offer. There has been an increase in the average annual compensation by 5.6 percent as compared to the last academic year. The domestic average compensation stood at Rs 6.90 lakh. Eight students opted out of the placement process and decided to pursue startup dreams or join family businesses.
Companies such as JSW, HDFC Bank, Deloitte, CESC, Mahindra Finance, ICICI Prudential Life Insurance, BYJU’S, Randstad India, Reliance Industries, OYO, Mahindra Finance, Marico made offers to the students, which was 31 percent higher as compared to last year. Some of the new recruiters on campus included the Philips Lighting – Signify, HDFC Life, Treebo Hotels, Zomato, eTrans Solutions and Godrej & Boyce.
The institute was the first among the IIMs to complete its final placements. IIM-K saw a 16 percent increase in salaries offered compared to last year. Majority offers were made by marquee consulting companies.
The mean salary increased from Rs 17.8 lakh per annum to Rs 20.6 lakh in 2019. Around 50 percent of the students bagged an average CTC of Rs 23.73 lakh, a 13 percent increase over last year.
In a batch of 373 students, IIM-K witnessed 100 percent placements for the 366 students participating students, with 390 offers from 107 recruiters. Major recruiters included Amazon, Boston Consulting Group, Deloitte, EY, Goldman Sachs, HUL, PwC and JPMorgan Chase & Co.
This season, 21 new recruiters participated in the placement process. Bain & Co, Citrix, Exide, Everest Management Consulting, HSBC Securities, IQVIA, Of Business and State Street were a few of the new entrants.
Debashis Chatterjee, professor and director, IIMK, said that they got top three consultancies like McKinsey & Co, BCG and Bain & Co on day zero.
All these companies together offered 117 job roles in the consulting domain, covering 30 percent of the batch.
Other major companies participating in the process included American Express, Asian Paints, Bajaj Auto, Cipla, Citibank, Deutsche Bank, Flipkart, Goldman Sachs, Microsoft, Nestle, Samsung and Wipro.
Overall, institutes saw a 15 percent rise in the number of job offers. This was not restricted to e-commerce companies like the previous years, but was also true for large corporates.