Source: Times of India | February 18, 2014
BANGALORE: It’s a windfall for the class of 2012-14 at the Indian Institute of Management-Bangalore. Bucking negative trends, 388 students received 425 job offers from 150 companies during the final placement season. And compared to last year, international placements offered to the students doubled, from 20 to 41. This year, the B-school saw its biggest ever postgraduate programme in management (PGP) batch.
The pre-placement offers poured aplenty with 117 students receiving offers prior to the start of the final placements, which is 20% higher than last year.
The lateral placement season for candidates with more than 22 months of work experience broke all records with 127 offers made by firms in varied domains like strategy , leadership, product management , consulting and general management . Nine candidates chose to join social ventures.
The highest number of offers, about 27%, came from the consulting sector. Accenture Management Consulting, with 13 offers, was the top recruiter in this segment this year; McKinsey and Co. and the Boston Consulting Group had 11 each.
Average hike: The average salary offered this year is Rs 19.5 lakh per annum, 13.3% more than the Rs 17.2 lakh offered in 2013
Top sectors: Consulting 27% Banking & finance 19% IT & technology 17% General management 14%
Key recruiters: Amazon, Samsung, IBM, Coca-Cola , PepsiCo, Reliance Industries Ltd and Flipkart
Foreign companies flock to IIMB: Germany-based incubator Rocket Internet hired exclusively from IIMB for the first time, offering an international role for one candidate. Another firsttime recruiter was LinkedIn.
Sankarshan Basu, chairperson of Career Development Services, IIMB, said usually final placements take place during March. This year it was advanced by three weeks. Two students opted out of the placement process, with one wanting to pursue research and the other seeking to explore opportunities with his previous employer.
There is a rise in salary package over last year. This year the average salary is Rs 19.5 lakh per annum and the median salary, Rs 17.3 lakh. Last year, they were Rs 17.2 lakh and Rs 15.5 lakh, respectively. Ankit Rustogi, students’ placement representative , said the highest salary packages were offered by general management and financial services sector.
TCS Insights: Students of IIMB found success after graduation with many graduates quickly earning job offers, including international placements. Industries that have seeked IIMB graduates include Management, IT, Consulting, Banking and Finance. With the average annual salary offered having increased from last year, graduates look to gain as much from foreign companies as these firms hope to gain from their new employees.