Special Correspondent

Overseas placement offers an annual salary of $1.85 lakh

One student gets a domestic offer of Rs. 34 lakh a year Barclays, the top recruiter, picks 16 students

AHMEDABAD: A five-day campus recruitment programme was completed at the Indian Institute of Management, Ahmedabad, on Monday with all the 235 final year students, barring six who opted out, getting placement.

Claiming the process to be "very satisfying" and a "reflection of the IIM-A's growing acceptance in the international arena as one of the top business schools in the world," IIM-A director Bakul Dholakia said the salaries offered this year, for both overseas and domestic placements, were much higher than last year's.

The highest salary offered this year to three students for overseas placement was $1.85 lakh a year, while one student got a domestic offer of Rs. 34 lakh a year. The number of recruiting companies coming to the campus also went up from 83 (last year) to 110 this year, including 20 overseas ones.

510 jobs on offer

A total of 510 jobs were on offer with the placement of 83 students finalised on the first day.Of the 72 overseas placements, 30 were offered a salary of over $1 lakh and 20 between $80,000 and $1 lakh.

The lowest was about $60,000. The average entry-level domestic salary increased by 23 per cent over last year's and the overseas' by 16 per cent.

In domestic placements, 59 students were offered over Rs. 10 lakh a year, while the lowest was Rs.7 lakh.

Mr. Dholakia said 18 students, as against 16 last year, spurned overseas offers for domestic jobs, in preference to do something for the country despite being offered about five times higher.Six students, who opted out, intend starting their own enterprises.

Major banks

Major investments banks such as Deutsche Bank, Goldman Sachs, Lehman Brothers, Merrill Lynch and Morgan Stanley, continued their association with the IIM-A.

Barclays turned out to be the top recruiter picking 16 students of the 22 offers it made.

The Lehman Brothers with 12 acceptances and Merrill Lynch with eight came close behind with first-time recruiter ABN Amro Hong Kong picking seven students.

He said the salary offered to the graduate for overseas jobs were at par with that of those recruited by the companies from other internationally recognised business schools in the world.

"This year's recruitment are a statement on the increasing recognition accorded to the best Indian business schools on par with the world's best. It confirm the world-class quality of the IIMA graduates," Prof Dholakia said.