IIT Bombay’s Shailesh J. Mehta School of Management (SJMSOM) has concluded the final placements for the batch of 2017, with the top salary offered being ₹29.9 lakh. The manufacturing and consulting sector dominated the placements, with 24% and 22% students securing offers. There was also an increase in the share of manufacturing companies present.
Fifty-two companies took part in the final placements. While the average salary was ₹17.63 lakh, the top 30% of the batch got an average package of ₹24.48 lakh. The school secured 100% placements, something that Prof. Rajendra Sonar, faculty placement coordinator, said is down to the small batch size of 115 students.
This year’s batch saw a three-fold increase in placements for the manufacturing sector, compared to last year’s, and a drop of 5 % for the consulting sector. The IT sector was close behind with 20%.
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On the reasons behind the rise of the manufacturing sector, Prof. Sonar said, “It’s due to the preference of students. More have opted for the manufacturing sector because they expect it to grow. This could be because of initiatives like Make in India. Companies like Tata Motors organise several projects and events on our campus throughout the year. Their visibility could be another reason.”
The percentage share of manufacturing companies also rose from approximately one in 10 for the 2016 placements, to one in five this year. Prof. Sonar said, “Due to our limited batch size, we take into account the students’ interest and approach companies accordingly.” Companies from sectors such as banking, financial services and insurance, fast-moving consumer goods, and healthcare, were also part of the placements.
While the number of final offers reduced by 10%, compared to 2016, there was an increase in the number of pre-placement offers (PPOs). Prof. Sonar said the two are correlated, with more students being offered and accepting PPOs. “We train our students, especially our first years, before they take up internship. We teach them soft skills and other skill sets required to do well.”
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The school’s average and top salary for the final placements of 2017 are higher than those of 2016. The number of companies participating has also marginally increased from 49 to 52. The new recruiters include MNCs such as Whirlpool, Godrej & Boyce, DE Shaw, Pidilite, Siemens, Britannia, Vedanta, and public sector companies such as Indian Oil Corporation Limited.