Salary up by 45 pc at IIM-I’s final placements

With a batch hailing from diverse educational backgrounds – doctors, CAs, media, science and commerce graduates, and a few engineers, the recruiters had a vast talent pool to choose from. Daring to go beyond the lure of the lucre, the placements saw some students taking unconventional decisions to leave high-paying offers to take up their dream jobs or even to dive into the unknown by accepting new profiles.

This year, IIM Indore stepped up to the next level in job profiles. Recognizing the talent on offer, a host of new companies swooped down on campus offering a wide range of profiles. Even campus regulars came back with meatier roles, offering greater responsibilities.

“My groundwork would not have borne fruit without the kind of opportunities that were available in the booming placements of the institute”, said Ankur Bhajanka, who turned down a PPO from a leading Investment Bank to bag a dream offer with McKinsey & Co.,which was amongst the impressive list of new recruiters on campus this year. This included the likes of KPMG, Deloitte, Stern Stewart & Co., Goldman Sachs, Colgate- Palmolive, SAP and many more. Appendix 1
The new face of global business
With the world economy seeing a shift away from the West, there were lucrative job offers in China, Australia, Kuwait and possibilities of postings in Africa or Brazil with Olam International. The big name on campus was Kuwait-based Alghanim Industries with 7 offers. Their offer in „Sourcing. in China for US $67,000 is the first time a company has given an offer in China. This opens up a whole new avenue to a country that has, as yet, not quite looked at recruiting from premier B-Schools in India.

Macquarie Bank came back to campus with offers in Sydney, Australia and Chicago, USA, reaffirming their relationship with the Institute. Parvinder Singh, a high-flyer, who won multiple international contests during his stint at IIM Indore, had 10 offers to choose from. He spurned other higher-paying offers to join Reliance Industries with a profile in SEZ Venture Funding.

In line with the trend across batches, the average salary for lateral candidates was significantly higher than that offered for freshers. The average domestic salary for candidates with more than two years work experience was Rs. 11.28 lakhs. The average domestic salary for the rest of the candidates also crossed the Rs. 10 lakhs barrier for the first time this year. (*Average domestic salary in Rs Lakhs)

Sector-wise Offers
Consulting: 25 pc of the batch bagged top end consulting jobs. A clear indication of exceptional talent acknowledged by big names – McKinsey & Co., Accenture Business
Consulting, KPMG, Stern Stewart & Co, Deloitte, Aptivaa Consulting, PricewaterhouseCoopers, SAP and TSMG. Profiles on offer ranged from general and strategic consulting to financial consulting including Basel II implementation, „Economic Value-Added., business research for market development and entry strategy. The average domestic salary offered by consulting firms was Rs. 11.95 lakhs.

Sector Sector-wise accepted offers

Banking & Financial Services 32 pc
Consulting 25 pc
IT 21 pc
Marketing 22 pc

 

Banking & Financial Services: The Banking & Financial Sector witnessed the participation of major MNCs as well as specialized financial services companies. The profiles offered ranged from Private Equity, Asset Management and Treasury to Real Estate Valuation and Venture Funding. Barclays Capital, Lehman Brothers, Goldman Sachs, Deutsche Bank, Bank of America, HSBC Bank, Citigroup, Standard Chartered Bank and JPMorgan Chase along with domestic majors SBI, UTI and first timers like YES Bank were vying for the best students on campus by providing competing offers. Firms like Horizon Asset Management and Max New York Life offered niche asset management profiles. Average domestic salary offered by firms in this sector was Rs. 10.35 lakhs.

Marketing: The Marketing domain saw offers ranging from the conventional FMCG and B2B profiles to the various offers in the emerging Retail space – consumer durables, foods and apparel – to profiles in media and entertainment. First timers Alghanim Industries offering international retail and sourcing profiles and Colgate-Palmolive in FMCG were accompanied by established names like Asian Paints, ITC, Reliance Industries, Marico, Dabur, Astro MEASAT among others. Average domestic salary on offer in the marketing sector was Rs. 10 lakhs. The pay packages saw a high of US $67,000 internationally and an unprecedented Rs.18 lakhs per annum domestic salary.
(*Salary figure in Rs Lakhs)

IT/ITES:
The profiles on offer were a reflection of IT companies going up the value chain and getting into IT & Management Consulting. Roles varying from Product Consultancy and Bid Management to Technology Consulting were on offer from Capgemini, Headstrong, Cognizant, IBM India, Tech Mahindra, Oracle and Covansys, among a host of IT firms. International posting from sector major Infosys was the key highlight. The average domestic salary offered by IT firms was Rs. 9.35 lakhs.

Select new companies on campus:

Alghanim Industries Major Kuwait-based distributor / trading company
Aptivaa Consulting Solutions Consulting – Risk & Compliance
Aranca Leading Investment & Financial research co.
Boston Analytics Business & Financial Research and analysis
Colgate-Palmolive World-renowned FMCG major
Covansys India Global consulting and technology services co.
Deloitte Consulting, audit, tax & financial advisory
Goldman Sachs World-leading Investment Bank
Grail Research Strategy consulting research
Headstrong India Global consulting and technology services
Hill & Associates Security and risk management services
Horizon Global Research Asset management
KPMG India Consulting, audit, tax & financial advisory
Lehman Brothers World-leading Investment Bank
McKinsey & Co Strategic consulting
Ocwen Financial Services Global financial services
Reckitt Benckiser* World-renowned FMCG major
SAP World’s largest ERP solutions provider
Stern Stewart & Co Leading global consulting firm
(* Via contest PPO)

 

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