Job placements: SPJIMR places outgoing batch at average salary of Rs 32 lakhs, up 23%

A positive business environment and preparedness of the students helped in the increase in the number of offers

Bharatiya Vidya Bhavan's SPJIMR (S.P. Jain Institute of Management and Research) has completed the final placement of the outgoing batch with an average salary of Rs 32.05 lakhs per annum.

While the average salary went up by 23 percent this season as against a year-ago period, consulting firms emerged as the top recruiters by offering 38 percent of the jobs to the graduating students, the elite private B-School based in Mumbai said on January 27.

“The average annual salary (cost-to-company) this year stands at Rs.32.05 lakhs per annum, marking a jump of around 23 percent over the number reported last year. The median annual salary came in at Rs.30.1 lakhs per annum, with over 59 percent of the batch securing offers above Rs.30 lakhs per annum, and over 87 percent in excess of Rs.25 lakhs per annum,” the B-school said.

This placement season saw 52 percent of the batch receiving pre-placement offers (PPOs), a record via autumns internships and corporate competitions, with leading companies like Amazon, Accenture Strategy, Boston Consulting Group, Colgate-Palmolive, Hindustan Unilever, Intuit, Procter & Gamble, and Tata Administrative Services among others.

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A positive business environment and preparedness of the students helped in the increase in the number of offers, the B-School reasoned.

Overall, the entire batch of 238 MBAs got placed, and the highest salary received by the school this year was Rs.53.16 lakhs per annum, 14 percent more than last year.

The consulting domain saw participation from companies like Accenture Strategy, Alvarez & Marsal, Bain & Co., Boston Consulting Group, Deloitte, Miebach Consulting, KPMG, and PWC US Advisory among others.

The FMCG sector that made 50 offers for roles across sales and marketing, corporate finance, supply chain operations etc, saw participation of firms like Asian Paints, Colgate-Palmolive, General Mills, Godrej, Hindustan Unilever, ITC, Kimberly Clark, L'Oréal, Marico, Nestle, Pidilite, Procter & Gamble among others.

In the finance space, American Express, Avendus, Axis Capital, Goldman Sachs, Incred, JM Financial and Paytm were among others who recruited from the B-School.

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A robust campus placement season contiunues at top Indian institutions. After a strong session at Indian Institutes of Technology (IITs), leading B-Schools are reporting good job offers.

While older IIMs in Ahmedabad, Bangalore and Calcutta are expected to start and finish the final campus placements later in February and early March, some of the IIMs including IIM-Indore and IIM-Nagpur have completed the final placements for the 2022 graduating batch. IIM Indore had placed its outgoing batch of 572 MBAs with an average annual salary of Rs 25.01 lakh, Moneycontrol had reported on 9 January. At IIM-I the Post Graduate Program in human resource management (PG-HRM) graduates too have got placed with an average pay of Rs. 20.4 lakh per annum.