Salaries Dip By 23% At IIM-C
The domestic average salary of IIM Calcutta took a plunge of 23 per cent from last years Rs 16.4 lakh to Rs 12.7 lakh this year. The pre placement offers also took a dip from 90 in 2008 to 56 in 2009.
Though the plunge in salaries is very high, the institute has managed to attain the highest salaries across all the premiere management institutions including IIM Ahmedabad which registered a plunge of 32 per cent this year with Rs 12.17 lakh as average domestic salary. The average international salaries too were noticed to be higher at IIM-C from IIM-A this year with $86,785 for IIM-C and $83,000 at IIM-A.
The second phase of the final placement process at IIM-C was concluded on 7 March, placing the entire batch of 265 students. The process took a period of 10 days, comparatively longer than last years four days.
Despite the troubled times, 40 per cent of the students at the B-School opted for finance portfolios, both in India and abroad. The earlier media reports, however, had indicated that finance companies are refraining from the Joka campus for this years placements. Twenty-one per cent of the batch took up consulting roles and 27 per cent students chose for a career in marketing.
The major recruiters offering roles in finance include Jaypee Capital (16), ICICI Lombard and ICICI Prudential, Futures First, Allegro Financial Services and Edelweiss Capital. Wall Street giants such as Barclays Capital, Merrill Lynch, JP Morgan Chase, Morgan Stanley, Macquarie Bank, Royal Bank of Scotland and Credit Suisse were among the star recruiters.
The biggest recruiter in consulting was McKinsey & Co this year with 10 offers. Frost and Sullivan, Boston Consulting Group, Bain & Company, AT Kearney and Deloitte also recruited for the consulting roles. Hindustan Unilever, Procter and Gamble, ITC and Nokia offered roles in marketing. Public Sector Units such as IOCL, NTPC, Coal India and Andrew Yule also recruited from IIM-C.
From: Businessworld - Salaries Dip By 23% At IIM-C
Here is a good article with some historical context...
The credit crunch impact on MBA employers and applicants
I feel we have kind of gone through this before with the whole tech boom/9-11/stock crash and yet that was followed by such an enormous run-up and growth.
I certainly think this is worse than 2000, but 2 years is a lot of time for those of us considering full-time Western MBAs and I think things will have at least reached a bottom by then and be on the up (let's hope so...otherwise it will be so bleak).
As per articles by apurv in iim-a placement salaries are down 30% , but in other top non iim b schools placements are just 50% and many people are looking for jobs themselves .This means as per this rediff article placements are on the whole down almost 50%.
TUFF TIMES INDEED ..
Lets wait for other b schools reports
well placement in b schools will start from september we will come 2 know the reality:2gunfire:
I just feel that tech hiring across industries will take a hit but i still feel that b school placements will pretty much be in line with last year.....hoping for a good 4th quarter...;)
I am from SPJIMR. And we were truly surprised to see that rediff knows more about our placement scenario than we do. If the data was official, why didnt they cite a source?
Well,how a figure of 30% has been arrived at seems pretty open ended.And another thing is that the sample size is small,and the responses provided are also not definitive.
So by and large,panick should be avoided..
It definitely seems evident from the current scenario of economy as well as the Results companies are coming up with that Bskool placements wud take a hit ... Infact ppl at most of the campuses expect the things to slow down atleast for this year , but 30% is way too high.... :huh:
Most of the bskools at the worse expect the placement figures to remain at the same levels as last year :sarcasm:
Moreover , Rediff has always been coming up with such figures & reports which are rarely true ..so i wish its also in the same category./.
I am wondering if rediff people have did a mistake while copying the TOI news or vice versa ;).
As today only I have read in Pune times that engg graduates placement will fall 30% this year.