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IIMK grad bags starting salary of Rs 32 lakh

Last updated on: March 10, 2011 09:48 IST

IIMK grad bags starting salary of Rs 32 lakh

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BS Reporter in Chennai/ Kochi


IIM Kozhikode (IIMK) has placed its largest-ever batch of 290 students in various profiles across industries.

A total of 110 firms participated in the final placement process this year, including PSUs and NGOs. The outgoing batch is 16 per cent larger than previous year's batch of 250 and 56 per cent larger than the 2009 batch of 185.

Deloitte and ICICI Bank were the largest recruiters at the Institute, each making 16 offers.

The highest international package of $150,000 was offered by a commodities trading company while the highest domestic compensation of Rs 32 lakh (Rs 3.2 million) was offered by a Europe-based investment bank, according to an IIMK press statement.

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The average number of offers per company has gone up from 2.66 last year to 3.43 in 2010-11.

Finance continued to remain the most-preferred vertical amongst students with about 33 per cent of the batch taking up roles in the sector.

More than 26 per cent of the batch took up roles in the marketing and operations verticals, while 24 per cent chose to take up profiles offering consulting roles.

About 8 per cent took up general management roles in major conglomerates, commodity trading houses and other companies. Among other key verticals chosen, 7 per cent students chose IT roles while 3 per cent opted for HR roles.

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Pay jumps 18% in finance

The average salary for foreign financial institutions was Rs 19.43 lakh (Rs 1.943 million), while it was Rs 12.52 lakh  (Rs 1.252 million) in Indian financial firms.

While the average salary in the consulting sector remained more or less constant there was a jump of 18 per cent in Indian financial institutions, 16 per cent in the IT sector, 15 per cent in the HR roles on offer, 10 per cent in the profiles offered by foreign financial institutions and 10 per cent in FMCG companies.

About 35 per cent of the recruiters at the Institute either participated in the placements for the first time or re-visited Institute after a gap of at least two years.

More than 80 jobs were offered by the new recruiters. These companies included 3M, ADAG, Airtel, Apollo Hospitals, Arvin Meritor, Cargo, Crisil, Dolcera, EXL, Fujistu, Glenmark, HP, Idea, JDA, Lenovo, Madura F&L, MMTC, Mphasis, NDCEX, Suntec, Tally Solutions, Triton group, Videocon, and Wipro Consulting, among others.

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Food commodities trading firm Triton group, which recruited for the first time from any IIM, picked up five students from IIM Kozhikode.

The highest compensation offered was Rs 32 lakh per annum for a role in Mumbai by a Europe-based Investment Bank.

The top recruiters among foreign banks were Nomura, Deutsche Bank, Bank of America Merrill Lynch, JPMorgan Chase, Standard Chartered, Goldman Sachs, HSBC, Citi, Arvin Meritor, Altisource and American Express.

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The percentage of students interested in general management roles was found to increase significantly this year.

Various companies including India's largest conglomerates RIL and ADAG, and other companies like Mahindra & Mahindra, Cargo, Dolcera, L&T, Jindal, Olam International, Thomas Cook, Manipal group and Triton group offered roles in general management.

Some students with necessary experience got senior managerial roles. A student with close to three years of work experience was offered the role of executive assistant to the chairman and managing director by Fujitsu.



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