The highest domestic package has gone up to Rs70 lakh – up by 17% from Rs60 lakh last year and the average salaries have increased by a whopping 30% from Rs13.7 lakh to Rs17.85 lakhs.
AHMEDABAD: Overriding speculation about the sub-prime crisis trickling into the hiring pattern of MNCs in India, a student at the Indian Institute of Management, Ahmedabad, has been offered a record salary of Rs1.44 crore by an international finance corporate for a location abroad. This beats the Rs1.36 crore offer posted by IIM, Calcutta, early this week.
The highest domestic package has gone up to Rs70 lakh – up by 17% from Rs60 lakh last year and the average salaries have increased by a whopping 30% from Rs13.7 lakh to Rs17.85 lakhs.
The average international salary is $119,000 – again a significant jump from the previous year.
The most striking trend in what students opted for this year reiterates the fact that the future is in the emerging economies of Asia and Europe. Of the post-graduate programme batch of 255 students, 87% have taken up offers in India and other Asian countries.
“The increase in the number of students preferring placements in the Asia Pacific region as compared to Europe and the US is indicative of the balance of economic power shifting from the West to the East. Despite the subprime crisis and slowdown in the US economy, the placement at IIM-A has not been impacted,” said IIM-A director Samir Barua.
At a time when the economic crisis in the US is fuelled by the realty sector, real estate players made a high-profile entry into the recruiting list at IIM-A. Lodha Group, DLF and JLL group recruited three students each for domestic positions.
While the director and professors maintained there was no discernible impact of the US meltdown, students conceded that the number of students picked up by international investment banks has decreased and they are indeed being cautious.
Going up, up, up
The highest salary of Rs1.44 crore ($360,000) has been offered to only one student by an international finance company
Several students were offered between $280,000 and $300,000 for international positions
Highest domestic salary is Rs70 lakh
Consulting remains the top draw for students with over 30 of the batch placed in the sector
11 students opted out of the placement process to start their own ventures
112 students participated in the lateral placements; average salary offered increased by 13% from Rs16.2 lakh to Rs 8.3 lakh
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