It may be salary cuts for managers up the corporate ladder. Entry-level MBAs passing out from the top business schools of the country have, however, never had it so good with salaries clearly on the upward curve.
The top B-schools in India have all reported almost 100 per cent recruitment on campus with average annual salaries reported upwards of Rs six lakh, industry sources said.
Most of these packages are up atleast 10-12 per cent from last year, industry sources said. Graduates from the Indian Institute of Management-Ahmedabad got an average salary of about Rs 620,000 and a maximum of Rs 14 lakh (Rs 1.4 million).
IIM-Bangalore reported an average salary of Rs 611,000 with the highest offering being a package of Rs 16 lakh (Rs 1.6 million).
IIM-Kolkata and IIM-Lucknow reported average salaries of Rs 620,000 and Rs 618,000, respectively, with the highest packages being Rs 14 lakh for both.
S P Jain Institute of Management and Research had an average salary package of Rs 660,000 last year and Jamnalal Bajaj reported a highest package of Rs 730,000.
XLRI-Jamshedpur with highest Indian package of Rs 14 lakh reported average salary of Rs 683,000. FMS-Delhi averages Rs 688,000 with a top package of almost Rs 13 lakh (Rs 1.3 million).
Indian School of Business-Hyderabad was up on the list with an average annual salary package of Rs 830,000 and a top package of Rs 16.5 lakh (Rs 1.65 million) with almost 83 per cent lateral placements.
The number of institutions offering Master of Business Administration programmes that have been approved by the All India Council for Technical Education stands at 819 with a total intake of 65,102.
These figures do not include autonomous and deemed institutions besides a whole lot of private institutions offering management diplomas, industry sources explained.
