The job market, according to B-Schools that have released their placement data, hasn't looked this good in a long time for fresh management graduates. Top global recruiters have upped their hiring, average salaries have jumped by a minimum of 20 per cent and the number of companies visiting campuses for placement interviews has touched the three-digit mark in most institutes.
The 2012 Placements Story is best told by the experience of IIM-C. Campus interviews at the institute were slotted to be held over five days, but each of the 356 students of its graduating class bagged a job in four. And some must have landed more than one, because the number of collective offers for the batch stood at 423.
Leading the field, of course, is IIM-A, where the prestigious Boston Consulting Group has issued offers to 17 graduates, as against 11 last year. The placement process is still in progress at IIM-A, so the final figures aren't in.
Already, the average salary being dangled is reported to be in the stratospheric Rs 22 lakh to Rs 27 lakh range. The amounts on offer are being buoyed because of the interest evinced by big-ticket consulting companies such as McKinsey (which also hired 17 students from the Indian School of Business, Hyderabad), Bain and Co, AT Kearney, Accenture and Oliver Wyman.
At IIM-C, Zurich Financial Services have come to an Asian BSchool for the first time in its history to recruit for its Zurich and New York offices. Bank of America Merrill Lynch, according to CoolAvenues. com, has hired for an international finance opening based out of Hong Kong.
Capital One has made a global offer for its Dallas (Texas) office. And Swiss- Italian steel giant Duferco is hiring for the first time for its Lugano (Switzerland) head office.
The good news isn't limited to the IIMs. "As many as 98 per cent of our students got jobs within the first three days," an ebullient Fr. E. Abraham, director, XLRI-Jamshedpur, says.
Global investment banking and securities firm Goldman Sachs has made 12 offers for asset management and investment research jobs at the institute. XLRI's graduating batch of 235 has snapped up 284 offers, confirming the pattern of more jobs than new graduates.
Even at newbie IIM-R, the graduating batch of 47 has 58 offers to show, and the placement exercise is continuing. At Bharatiya Vidya Bhawan's S. P. Jain Institute of Management and Research, the batch of 176 has got 257 offers - 51 per cent of them going home with an annual domestic salary package of Rs 15 lakh or more.
"Our highest domestic salary this year is Rs 19 lakh, compared with Rs 15.5 lakh last year," Munish Bhargava, head of placements, IIFT, discloses. "The average salary of our students has also gone up to Rs 12.1 lakh from Rs 11.62 lakh last year," he adds.
IIFT students have accepted offers from 80 companies, including 33 first-time recruiters such as Duferco Group, German logistics giant Duegro, consulting biggies KPMG and Technopak, and ecommerce leader Flipkart. At XLRI, the highest domestic salary is Rs 40 lakh and the top international offer stands at Rs 61.8 lakh.
B-Schools attribute this surge in interest in hiring to the active role of the alumni. "Our alumni network around the world played a critical role in the placement process," Bibek Banerjee, director, Institute of Management Technology, Ghaziabad, says.
The sentiment is shared by Amit Dhiman, IIM-Calcutta's placement director, who says in a statement to CoolAvenue.com: "The alumni played a crucial role in this bad market scenario and were there to support us whenever we needed them. This shows the strength of Brand IIM-C."
1 comment:
Great news..if this is the record to go by. All this is based on the premise of good business the coming year and revivals in various sectors. This also means it will get more competitive as companies get choosy and very selective. So the lesson is to be the best and work on improving knowledge and honing skills.
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