IIM-A whiz kids look to swadeshi placement
Mar 13, 2007 - 7:52:47 PM
Ahmedabad, March 13 - To be part of the great Indian story, more and more graduates of the Indian Institute of Management, Ahmedabad - have shown preference to entrepreneurship and rejected foreign offers for Indian locations during the campus placement event here, according to data released Tuesday.
At the five-day placement event at IIMA ending Monday, 11 students of the prestigious business school rejected foreign offers in order to take up jobs in India and be a part of the Indian growth story.
The salaries offered to IIM-A graduates have steadily increased over the past years, and this year was no exception, IIM-A director Bakul Dholakia told media. Both domestic and international salaries have increased substantially.
The highest international acceptances ranged from $225,000 to $300,000 and the highest domestic acceptances ranged from Rs.6 million to Rs.10 million per year, depending on minimum and average bonuses.
The minimum international salary was $31,800 and the minimum domestic salary was Rs.800,000 per year. The average entry-level domestic salary increased by around 40 percent to Rs.1.36 million, while the international average stands at $115,300, a rise of around 25 percent. The average lateral domestic salary increased by 52 percent to a high Rs.1.61 million.
Total 235 students in the batch of 2007 were eligible for placements, which saw a total of 86 firms on campus.
Some leading investment banks and consulting firms such as Bain, BCG, Deutsche Bank, Lehman Brothers, McKinsey and Merrill Lynch continued their long-standing association with the IIM-A.
The highest number of offers was from Lehman Brothers -, followed by Merrill Lynch - and McKinsey -.
Apart from that, firms such as Blackstone Real Estate, Fischer Jordan, ING, Opera Solutions and Value Partners were some of the new additions.
A total of 63 students accepted international placements.
Major - Devashish Chakravarty, the coordinator of the Student Placement Committee, said: 'Even as international recruitment across campuses appeared to be going down in anticipation of a weakening in the markets, recruitments in IIM-A bore out the fact that high quality of managers are essential irrespective of the business cycles.'
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