Average salaries are expected to see a 15-20 percent increase in the final placement season
The final placements at management institutes are off to a flying start with Indian Institutes of Management (IIMs), as well as the other management schools, receiving offers 20 percent higher than last year. Similar to last year, consulting firms are expected to be the top recruiters.
The final placement process at business school begins in December, and is completed by March. These recruitment numbers are an indicator of the employment situation in the economy.
Premier IIMs do not share salary numbers immediately but give out the names of companies who came for the placements and number of job offers.
The institute has already completed the final placements. IIM-K saw a 16 percent increase in the salaries compared to last year. Here, the majority offers were made by marquee consulting companies.
The mean salary increased from Rs 17.8 lakh per annum to Rs 20.6 lakh in 2019. The top 50 percent of the students bagged an average CTC of Rs 23.73 lakh, a 13 percent increase from the last year.
In a batch of 373 students, IIM-K witnessed 100 percent placements for the 366 students participating in the placements process with 390 offers from 107 recruiters. The major recruiters were Amazon, Boston Consulting Group, Deloitte, EY, Goldman Sachs, HUL, PwC and JPMorgan Chase & Co.
This season, 21 new recruiters participated in the placement process. Bain & Co, Citrix, Exide, Everest Management Consulting, HSBC Securities, IQVIA, Of Business and State Street were a few of the new entrants.
Debashis Chatterjee, professor and director, IIMK, said that they got top three consultancies like McKinsey & Co, BCG and Bain & Co. on day zero.
All these companies together offered 117 job roles in the consulting domain, covering 30 percent of the batch.
Other major companies participating in the process include American Express, Asian Paints, Bajaj Auto, Cipla, Citibank, Deutsche Bank, Flipkart, Goldman Sachs, Microsoft, Nestle, Samsung and Wipro.
IMI New Delhi
IMI New Delhi concluded its final placements for the 2017-2019 batch with all 303 students across the programmes securing offers from more than 102 recruiters.
About 39 percent of the batch opted to pursue a career in the banking and financial services sector. Companies like HDFC Bank, HSBC, CitiBank, Axis Bank, Tata AIA, ICICI Bank, Yes Bank, CRISIL, Tata Capital, IDFC Bank, DHFL Pramerica Life Insurance among others participated in the process.
During the 2017-2019 placement season, 46 percent new recruiters participated in the final process. The institute said that Rs 20.75 lakh was the highest CTC offered this year in the manufacturing sector, while there was a 25 percent increase in the number of pre-placement offers (PPOs). This year saw 50 PPOs being offered to students.
About 21 percent of the batch was offered an opportunity to pursue a career in the consulting sector by companies such as Bloomberg, Deloitte, EY India, KPMG, Nielsen, EYGDS, Gartner, GEP, Euromonitor International and Bain Capability Centre.
Other major recruiters included Accenture, Capgemini, Infosys, Genpact, OYO, Wipro, Nestle, Shell, Sony Pictures Network India, Tata Motors Reckitt Benckiser and Zomato.
SJMSOM, IIT Bombay
At Shailesh J Mehta School of Management (SJMSOM), IIT Bombay the final placements were wrapped up within three days. The highest package was Rs 32.4 lakh and average cost-to-company (CTC) was over Rs 20 lakh. Last year, the average CTC was Rs 19.06 lakh,
Here, 38 companies made 112 offers in the process. In addition to legacy recruiters, first-time recruiters included OYO, HSBC and Tata Global Beverages among others. The top 20 percent of the students had an average of Rs 25.24 lakh, and top 50 percent of students were offered a CTC of Rs 22.59 lakh.
“Strengthening of long-lasting relationships with our legacy recruiters, along with an influx of new recruiters, resulted in the batch students securing excellent packages,” said S Bhargava, professor and head, SJMSOM.
The other business schools including IIM Ahmedabad, Bangalore and Calcutta will commence the process in the next few weeks. However, sources told Moneycontrol that consulting firms are expect to dominate the placements in terms of the number of job offers.
“We have received early confirmation from the large consulting firms. The average CTC on offer is also expected to see a 20 percent increase,” said a placement official at one of the IIMs.
Also, the number of pre-placement offers have seen an almost 25 percent increase among the large management institutes. These offers are given by companies where students did their internship in the summer of the previous year.Day zero at the placements at business schools continue to be dominated by the consulting firms. This refers to the first round of placements with students giving quick interviews at companies of their choice. Now, there is a move to make this a cohort-based system where companies of one sector could be clubbed into one slot.