…off to a great start on slot 0! 
http://economictimes.indiatimes.com/articleshow/1446550.cms Official Slot Zero Press-release from coolavenues: 'IIM Bangalore Emerges Numero Uno Among IIMs with USD 193,000 Package Friday ma…
...off to a great start on slot 0! :)
http://economictimes.indiatimes.com/articleshow/1446550.cms
Official Slot Zero Press-release from coolavenues:
'IIM Bangalore Emerges Numero Uno Among IIMs with USD 193,000 Package
Friday marked the beginning of final placement process and the story unfolded with a bang at IIM Bangalore! Day Zero of the process saw an IIMB student, being made an unprecedented offer of $1 93,000, and create history as the highest paid graduate, across any of the IIMs. And if that werent enough, the institute boasts of having the highest ever offer in India as well, among the IIMs standing at a whopping Rs. 30 Lakhs per annum.
Over all, a total of 21 companies took part in the process, including the whos who of global investment banking, the likes of Goldman Sachs (London, New York), BNP Paribas (Hong Kong), Barclays Capital (London, New York, Hong Kong, Singapore), Merrill Lynch (Hong Kong, Singapore), Lehman Brothers (New York, London, Tokyo, Hong Kong), Deutsche Bank (London), ABN Amro (Hong Kong), UBS (Hong Kong, London), JP Morgan (London), and HSBC (London), a total of 10 investment banks.
Besides the investment banks, the beeline this time included consulting giants. The charge of the consults was led by McKinsey, Bain and Co, Boston Consulting Group, Ameriprise Financials, Deutsche Post (USA, Germany and Singapore), AT Kearney and Diamond Cluster. "The numbers speak for the quality of students here," says Mr. Vikas H. Daga, of McKinsey & Co, adding, "They (students) were brilliant and we have recruited the highest number of candidates from here, among the three campuses."
A total number of 182 students signed up for the process and by the end of Day-0, 65 of them, amounting to a thumping 34% of the batch, were placed. By sheer proportion, the magnitude of this figure stands as the highest among the 3 campuses, at a stunning 1/3rd of the batch getting placed on Day-0. This takes IIMB students to every corner of the world like New York, London, Hong Kong, Tokyo, Singapore , Minneapolis and Germany. The institutes growing reputation of producing specialist students, was underlined by the presence of Private Equity Firms like Baring Private Equity Partners, news giant, Bloomberg (New York), and conglomerates like British Petroleum (Singapore) and Mittal Steel.
The mood on campus was exuberant. "IIMB continues to be a favorite haunt of global recruiters. Our relationship with recruiters continues to grow stronger every year and the results are testament to the hard work of the Placement Committee and students. It also speaks of the academic rigor and professional excellence maintained by the institute," said Prof. Y. L. R. Moorthi, Chairperson Placements at IIMB. The end of Day-0 marks the conclusion of what has thus far been a historic recruitment season. The stage is now set for the scene to enter Day-1, with the activity focusing on students interested in careers in Marketing, Retail Banking, IT Services and Consulting. The line-up includes FMCG behemoths HLL and P&G;, banking stalwarts like Kotak and Citibank, and consults like Accenture and KPMG joining the parade! Its raining jobs at IIMB!'
lot of us PG junta in the fray......lets see how we fare
needless to say, very impressive indeed..
btw, can u give me an update on where Debdutta Sanyal is heading?
shalin..
came across this article on coolavenues, shed some light on this
Was visiting this site after a long long time....and came across some placement stats of IIMs( The I banking bit)
looks like like other schools IIMs also inflate sal figures( i know for other schools cos i did my FIRST MBA from a top school...and honestly ..not an IIM).
just wanted to let guys know that the the max base sal for I banks( the best ones...GS, L bro, MS( thats Morgan stanley), JPM, ML) is 95 K usd.yes.thats what a first year ... gets.
AND THE I BANKS DONT I REPEAT DONT TAKE IIM GRADS AS .... IIM GRADS ARE TAKEN AS SENIOR ANALYSTS AND A FEW OF THEM ARE MADE ... AFTER I YEAR AT THE JOB.
AND SENIOR ANALYSTS ARE A LEVEL BELOW .... HENCE THE I BANK SAL AT IIMs CANT EVEN BE 95 K( FORGET THE 120 K OR SOMETHING).
A FEW MORE FACTS: A CO LIKE LEHMAN BROTHERS WHICH HAS THE BIGGEST BATCH STRENGTH IN ANY GIVEN YEAR OF FIRST YEAR ... PICK 65 STUDENTS ( GIVE OR TAKE A FEW) FROM AROUND THE WORLD.ALL OF THEM FROM US B SCHOOLS! SO WHERE DO THE 43 IIM PEOPLE WHO ARE GOING TO WORK WITH THE I BANKS THIS SUMMER INTERNSHIP SEASON FIT IN...U GOT IT RIGHT..ITS ANALYST ROLE.
ALL OTHER BANKS HAVE MUCH SMALLER BATCH STRENGTHS...ML( Merrill Lynch) has 35 and MS has even lower ( in the twenties).
SECONDLY, IF HSBC CAN OFFER 150 K THEN I WONDER WHY IT IS NOT SEEN ON CAMPUSES IN US( ANY 1ST YEAR I BANKER WOULD GIVE HIS RIGHT ARM TO GET THE 150 K SAL..FROM ANY SCHOOL IF I MAY ADD!)...THAT 150 K IS gbp SAL CONVERTED INTO DOLLARS( WHATS THE RATE OF gbp TODAY: 1GBP: 1.76 GREENBACK).
NEED I SAY THAT THE SAME GOES FOR CONSULTS ALSO!
FOR PEOPLE WHO ARE QUESTIONING MY BACKGROUND..I AM AN ALUM OF A US B SCHOOL( TOP 5 IF YOU MAY) AND WORK WITH ONE OF THE TOP I BANKS. I AM ALSO AN ALUM OF A "TOP" INDIAN B SCHOOL ( QUICK Q: WHICH IS THE BIGGEST I BANK IN TERMS OF M&A; ADVICE FOR 2005 ??? WHATS THE TOTAL FIGURE IN USD BILLION??)
@nakul
A guy from a top 5 MBA school in the US and someone who writes ALL CAPS... I am sure he is non IIM as he says but seriously doubt if he is a top 5 US MBA as he says
Though most people actually chosen from IIMs for US jobs etc are almost always at only the level of US top undergrad recruits and not at the same level of a top US MBA... that is not exactly unfair because they dont have any actual work experience... Just taking some stupid courses doesnt make anyone great at business...
But last time's Ravi Singhvi was the exception with that 150K and this years 193K which are both equivalent to a US MBA salary... These folks had work experience... Infact if i am not wrong the B guy who got that salary is actually an MS Berkeley (not sure about this...) or something like that forget the usual IIT thing... and infact much older than Ravi Singhvi...
Also both the top salary makers in B are actually non CAT admits... Here to loot India for another free education sponsored by the taxes from hardworking:wink: desi engineers in TCS, INFOSYS etc. Why spend 150G$ in the US when its available for literally free here Just kidding:wink:
Also no way can a US MBA level salary come to a direct recruit in India just through campus placements... I think that kind of offer is going to be made after good work in the summers... Once a company likes you... then they hardly are going to bother whether you did it from Harvard or IIM L...
Good Work B guys
K
PS: Class Action Lawsuit is coming your way B:wink:
@nakul
A guy from a top 5 MBA school in the US and someone who writes ALL CAPS... I am sure he is non IIM as he says but seriously doubt if he is a top 5 US MBA as he says
Lol !
@nakul
Though most people actually chosen from IIMs for US jobs etc are almost always at only the level of US top undergrad recruits and not at the same level of a top US MBA... that is not exactly unfair because they dont have any actual work experience... Just taking some stupid courses doesnt make anyone great at business...
But last time's Ravi Singhvi was the exception with that 150K and this years 193K which are both equivalent to a US MBA salary... These folks had work experience... Infact if i am not wrong the B guy who got that salary is actually an MS Berkeley (not sure about this...) or something like that forget the usual IIT thing... and infact much older than Ravi Singhvi...
Also both the top salary makers in B are actually non CAT admits... Here to loot India for another free education sponsored by the taxes from hardworking:wink: desi engineers in TCS, INFOSYS etc. Why spend 150G$ in the US when its available for literally free here
Also no way can a US MBA level salary come to a direct recruit in India just through campus placements... I think that kind of offer is going to be made after good work in the summers... Once a company likes you... then they hardly are going to bother whether you did it from Harvard or IIM L...
Good Work B guys
K
PS: Class Action Lawsuit is coming your way B:wink:
Yes, for folks looking for an international placement without any work experience, their first yr summers would be important. But then, not sure if a company can measure you in a period of 10 weeks to offer such high salary. So I would imagine that these stars have some international work experience.
Seeing the importance given to placements, I feel that the press release should also include the background of these students (i.e before IIM ) so that aspiring students can get the full picture.
@nakul
A guy from a top 5 MBA school in the US and someone who writes ALL CAPS
BANG ON
u neednt say anymore
Lol !
Seeing the importance given to placements, I feel that the press release should also include the background of these students (i.e before IIM ) so that aspiring students can get the full picture.
Exactly the picture should be made damn.clear...this is where PaGaLGuY.com reporting should come in....this is what the new journo recruits at PG shd try and get out.....
What say Junta?
Cheers
@shanks: i second that
Also, saw today on some news channel where Mr. Dholakia (IIMA) was addressing the press n the whole interview was like theirs is the best. WHat if IIMB has the highest offer, they r the leader types. Must say, it all looked a bit cheap. They sld be more dignified than this
Lol !
Yes, for folks looking for an international placement without any work experience, their first yr summers would be important. But then, not sure if a company can measure you in a period of 10 weeks to offer such high salary. So I would imagine that these stars have some international work experience.
Seeing the importance given to placements, I feel that the press release should also include the background of these students (i.e before IIM ) so that aspiring students can get the full picture.
thts true.even i was trying to find out the guys backgrnd.wht i came across was a newspaper article saying that he was an iit(kanpur) grad and was 29 yrs old
??: ??: .and was picked up by barclays nothin else.
I remember many months ago I had gone to the IIMB campus and was having tea + sutta with Praveen. He told me about this guy in his class who had cracked IIT JEE big time, went onto do BE Compsci from IIT Kanpur, a 9-pointer at it and finally did his Masters from Berkeley. After that he had been working in the Bay area for almost 5 years with a hitech chip development company.
I thought he was crazy to have come back and joined an IIM-B. Well, no guesses, it turns out to be the same guy !
Another year when his photograph will be splashed on front-pages on newspapers, articles on him all over, magazines would feature a cover story. Not surprisingly another year of coaching classes bursting at its seams, with starry eyed kids fresh out of college will try to give that 8lakh per month (as some newspapers reported !! wheew!!) job his/her best shot. Another year when those not so fortunate will turn frustrated and end up knocking the doors of the ilk of the eye-eye-pee-eem.
The story remains the same, just the names have been changed.
Arun
A lot of freshers have managed ibank/consulting offers this time around, albeit as analysts...(the observation is based on hearsay....would like iimb pg'ites to confirm it)
not all of them are 9pointers from iit, btw.
Definitely a sign of an institute coming of age.
So, it's not as though non-iit freshers can't dare to think beyond fmcg companies.
What one would like to know is the profiles of the freshers who got these day-zero jobs.
PS: Can great grades at IIM and great interview performances compensate for an ordinary profile on day-zero (if you get a shortlist, ofcourse)?
A lot of freshers have managed ibank/consulting offers this time around, albeit as analysts...(the observation is based on hearsay....would like iimb pg'ites to confirm it)
not all of them are 9pointers from iit, btw.
Definitely a sign of an institute coming of age.
So, it's not as though non-iit freshers can't dare to think beyond fmcg companies.
What one would like to know is the profiles of the freshers who got these day-zero jobs.
PS: Can great grades at IIM and great interview performances compensate for an ordinary profile on day-zero (if you get a shortlist, ofcourse)?
That is news to me... till now I was of the impression that MBA grads get recruited as Associates... Well if it is analysts then I guess they must have been appointed as senior analysts who would be promoted to Associate in a year... I would surely like the seniors at IIMA/B/C to point out i) for what positions do these I-Banks takeup freshers for; and ii) what is the profile of these freshers?
One more thing: I just wanted to know if Lehman Brothers (Mumbai) has recruited from IIMA/B/C?
--Chau
By the way this 9 pointer IIT theory is flawed... IITians who crack 9 pointer are hardly found in the IIMs in the first place
They are generally out of the country far earlier than that!!
This dude needs to disclose something about exactly why he came back since in the end he again chose a foreign job!! otherwise it can be safely assumed that he came back here for another free joy ride on desi taxes only to escape away in the end
Also the GMAT guys have already been given admits in IIMB!!! Looks like B is heavily into marketing itself to try and beat A
By getting these odd super heroes they want to show that at the end of the day guys at IIMB get the highest salary None of these topper dudes are CAT admits!! Atleast last time's 150K+ dude was a regular CAT dude working his way thro india... and also nonIIT
K
This dude needs to disclose something about exactly why he came back since in the end he again chose a foreign job!! otherwise it can be safely assumed that he came back here for another free joy ride on desi taxes only to escape away in the end
Also the GMAT guys have already been given admits in IIMB!!! Looks like B is heavily into marketing itself to try and beat A
K
Lol ! Hmm..I guess you are right. Given comparable rankings, as a student/employee I would be more inclined to goto a college/company which shows interest in me immediately. And no ! Not all GMAT admits are going to be superheroes :). I don't think GMAT students are getting admitted sooner because the addCom have final placements in mind, which is 2 yrs down the lane.
But coming back to placements, I think that IIMs can benefit by publishing more information about their students background. Take a look at the top U.S MBA schools. They are proud to have students from a diverse background and age difference. Thats one of the factors of getting high ranks and would be much better marketing.
btw, can u give me an update on where Debdutta Sanyal is heading?
debdutta is going to Bank of America corporate banking division
Also both the top salary makers in B are actually non CAT admits
wrong. the person who got the highest international salary is a CAT admit, he returned to India and worked for a year before cracking CAT and joining IIMB
Not surprisingly another year of coaching classes bursting at its seams, with starry eyed kids fresh out of college will try to give that 8lakh per month (as some newspapers reported !! wheew!!) job his/her best shot. Another year when those not so fortunate will turn frustrated and end up knocking the doors of the ilk of the eye-eye-pee-eem
Good observation! You may be surprised to know that during our placements most candidates were more concerned about the job profiles than the salaries they were being offered. One of my friends chucked a 15 lpa consult job for a 8 lpa marketing job. Another one ditched a lucrative overseas job from the Redmund software giant so that he could have a shot at Indian FMCG companies coming in a later slot. However the only things reported in the media are international salary figures because they look more 'sensational'. This is only going to result in more hopefuls falling for the media noise and applying for IIMs
not all of them are 9pointers from iit, btw. Definitely a sign of an institute coming of age.
So, it's not as though non-iit freshers can't dare to think beyond fmcg companies.
What one would like to know is the profiles of the freshers who got these day-zero jobs.
yes, you do not have to be an IITian to crack a day 0 company. there are numerous examples every year to prove that
PS: Can great grades at IIM and great interview performances compensate for an ordinary profile on day-zero (if you get a shortlist, ofcourse)?
definitely yes. an IIT background is not a necessity to crack a day 0 shortlist, though it does help. grades are a very important factor in getting shortlists. after that it depends on how well your interview goes. I personally don't think your background makes a big difference once you get a shortlist
well if it is analysts then I guess they must have been appointed as senior analysts who would be promoted to Associate in a year...you are right. most ibanks promote the recruits to associate position within a year. a few do give associate positions directly. the highest indian and overseas offers were for associate positions
I would surely like the seniors at IIMA/B/C to point out i) for what positions do these I-Banks takeup freshers fortypically senior analysts or junior associates
ii) what is the profile of these freshers?there are ppl from everywhere...from IITs and NITs......to ppl from not so nationally well known institutes as well......typically they have a great acad+extracurrics profile
By the way this 9 pointer IIT theory is flawed... IITians who crack 9 pointer are hardly found in the IIMs in the first place
can you enlighten us with the logic or proof behind your 'theory'? obviously not every IITian in an IIM is a 9 pointer. however there are quite a few 9 pointers around
This dude needs to disclose something about exactly why he came back since in the end he again chose a foreign job!! otherwise it can be safely assumed that he came back here for another free joy ride on desi taxes only to escape away in the endWOW! what a 'safe' assumption!!! i don't know about you but not all of us want to study in an IIM because we want to have a 'free joy ride on desi taxes'
@Godfather!!
How many IIT 9 pointers in IIMB? Let me know... Even 7 or more (1 for each IIT) then my 'theory' was wrong and I owe you a treat
On the Free ride... I was just taunting about the Berkeley dude who came back to again go back to a foreign job thats all... not about all of us... I am sure it could be personal reasons as in family, girlfriend or wife or missing India etc...
K
Hey Godfather,
Any of the IIM B placed batch venture into the BPO space, did they?
@Guhan,
Where is Aadisht Khanna placed?
And where are you heading?
Lot more to ask about - Vibhavan, Godfather himself, Garuda (dats Sanjeev)...etc etc etc...i always hope the PG guys will be back to post their success stories on the forum...:)
Ashish