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Rediff.com  » Business » ISB gets 541 offers; domestic salaries up 11%

ISB gets 541 offers; domestic salaries up 11%

June 16, 2010 08:51 IST

ISBHyderabad-based Indian School of Business secured 541 offers, including 65 international, from 346 companies for its batch of 2010, which graduated in April.

The placement season has been extended for the batch till June as part of its rolling placement system to give more time for companies and students to find the right match.

The average domestic cost to company has reached Rs 16.7 lakh (Rs 1.67 million), up 11 per cent from Rs 15.05 lakh (Rs 1.5 million) in 2009. The average outgoing salary this year is more than double the incoming salary.

ISB usually announces the placement results in April, but for the past two years, it has been extending the placement season by about three months to let maximum number of students bag the jobs.

This year, with companies back in the hiring mode following economic recovery, the offers have increased by 35 per cent over last year.

The batch of 2010 has a strength of 579 students, their work experience ranging from 2 to 20 years.

ISB got 401 offers from 326 companies in 2009, when the class size was 437. Following a lukewarm response from the companies due to the economic slowdown last year, ISB had introduced a one-offer policy in 2009 to ensure students got fair deal.

"Companies have reposed confidence in ISB once again," said ISB Dean Ajit Rangnekar. The institute would continue RPS in future, he added.

ISB did not disclose the average international CTC offered to the students.

According to officials, the number of international locations has increased this year, which made using a standard metric to arrive at the average CTC difficult. "We are yet to pare the international CTCs," an official said.

In the words of Bhavani Shankar, who was a lieutenant colonel in the Indian Army before joining ISB, the placement process has been comfortable, allowing him to explore companies of his choice.

He will now join Redpinesignals, a US-based semiconductor company that has a research and development facility in Hyderabad. He will be stationed in Hyderabad and his role will be to oversee sales and business development in the Asia-Pacific region and West Asia.

Shankar, who feels the role offered is more critical than the salary, has declined the offer from a Hyderabad-based microfinance company for an annual CTC of Rs 40 lakh (Rs 4 million), which 0could have been the highest this year. "Salary is not the key to building a long-term career," he said.

For this year, the technology, consulting and finance sectors have been the main recruiters, with the number of offers made by top 10 companies in these sectors has risen by 116, 40 and 30 per cent, respectively, over last year.

Pharma, healthcare, infrastructure, real estate, media and energy are the other sectors that have recruited from ISB in significant numbers.

B Krishna Mohan in Hyderabad
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