Overseas placements at the Indian Institute of Management, Ahmedabad, the country's top most B school, dropped by 65 per cent from last year. Of the total 360 students and 130 participating firms who took part in IIMA's placement process, the number of students being placed in international locations nosedived from 42 last year to 15 this time around. A phenomenal 345 students were placed in India as compared to 309 students last year as per IIMA Final Placements report for PGP programmes for the year 2013, which were prepared as per the Indian Placement Reporting Standards (IPRS) on Friday.
But despite adverse market conditions, India's premier business school did not witness a hiring freeze with more than 130 firms participating in the placement process for 2013. As per the institute's report, the highest domestic salary offered was Rs 32,65,000 for the flagship Post-graduate Program in Management (PGP) in banking, financial services and the insurance sectors. However, a reverse trend can be seen in international placements, with only 15 students placed outside India against 40 last year.
As per the data provided by the institute, the highest salary offered for international placement was $1,25,000. Out of the 373 students eligible for placement in the current year’s programme, 360 sought placement through the institute while five chose entrepreneurship.
Boston Consulting Group was the top recruiter across clusters, picking 15 students from the campus, followed by Accenture (13). It was followed by McKinsey & Company and Capgemini, each making 10 offers. Among global investment banks, Goldman Sachs lapped up seven students for roles in financial markets and quantitative strategy.
In the consumer goods and services sector, Airtel was the lead recruiter with 11 offers for roles in marketing and finance for both, India and international locations. Other recruiters included Bain & Company, Asian Paints, Microsoft, Oracle, Deloitte, Ernst & Young, KPMG and Google.
Only five students forayed into entrepreneurship of the 360 students. Among the offers, Consulting (115), Banking, Financial Services and Insurance or BFSI (59), Information Technology(42), Conglomerates (33), FMCG(29) and Engineering & Technology (22), Real Estate (13) were some of the sectors that recruited IIM graduates in big numbers while Pharmaceutical/Healthcare, Telecom and other sectors (education management, information services, learning and marketing, communications, leisure, travel and tourism) made only 11 offers each.
According to the report, the minimum fixed yearly cash component (domestic) is Rs 600,000 while the maximum is Rs 32,65,000. The median fixed yearly cash component (domestic) is Rs 13,10,000. For international offers, the minimum fixed yearly cash component stood at $21,077, while the maximum stood at $125,000 and the median, $38,956.
Besides the PGP programmes, IIM-A also released the data for its post-graduate programme in agri-business management (PGP-ABM) and the post graduate programme for management executives (PGPX). The final placements for PGP-ABM saw the participation by a total of 20 companies who made offers to all 33 candidates who took part. Of this number, however, two ABM students opted out to start an entrepreneurial venture. The one-year PGPX programme also saw the participation from a diverse group of recruiters in top management roles across spectrum.