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Graduates clinching job offers with astronomical figures as salary has become sort of a custom in IIM campuses and this year is no exception. An IIM-Bangalore student landed himself a job with Barclays Capital in London at an annual package of USD 1,93,000 (about Rs 86.36 lakh). Gaurav Agarwal, an IIT-K (Kanpur) alumnus, graduating from IIM-B this year, received an offer to join as "associate" with Barclays Capital in London at USD 1,93,000, IIM-B Placement Committee sources said.
Two of his peers in IIM-Ahmedabad have also secured offers for posts of "associate" from Barclays, Singapore, which comes with a package of USD 1,85,000 each. "The highest domestic offer of Rs 34 lakh per annum was given to a student by RPG Enterprises," IIM-A Director Bakul Dholakia said on Monday. Venkateshan Shankaran has bagged the highest offer from an MNC for a position in India. Who’s Who of I-banking Overall, a total of 21 companies took part in the placement process in IIM-B on March 10, including the Who’s Who of global investment banking — Goldman Sachs, Hong Kong-based BNP Paribas, Barclays Capital, Merrill Lynch, Lehman Brothers, Deutsche Bank, ABN Amro, UBS, J P Morgan and HSBC, the sources said. At IIM-A about 72 students accepted overseas offers while 163 chose to work with Indian firms, said Dholakia. Describing this year’s placements as "very satisfying," Dholakia said, "the average international salary bagged by the current batch is USD 92,500 (Rs 41 lakhs) registering an increase of 16 per cent compared to last year." "The average domestic salary, which stood at 9.72 lakh also saw a growth of 23 per cent (entry-level)," he added. Domestic offers preferred He also said that there was a growing trend of students who chose domestic placements over foreign offers this year. "About 18 students gave up foreign offers this year compared to 16 last year," Dholakia said. "Of the 163 students placed in India, 59 students were offered pay packages over Rs 10 lakh per annum, while of the 72 students placed overseas, 50 got salaries over USD 80,000 (36 lakh and above)," he added. Prof Piyush Sinha, the Chairman of the Placement Committee said: "The number of companies offering overseas job was as high as 20 in 2006." Investment Bank Barclays was the top recruiter this year with 16 students accepting the offer made by the company. The offers made to IIM students by foreign companies were on a par with those offered to students passing out of foreign B-schools. Word of caution Prof Prakash Apte, Director, IIM-B, however, chose to be cautious, saying, "payment packages are not as staightforward as they appear to be." Notwithstanding this, the mood seems to be upbeat on the IIM-B campus. — PTI
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IN this dog-eat-dog
world of competition for jobs, Indian Institute of Management (IIM)
students are in a class of their own. They don’t hunt for work,
the jobs just come to them.
