Despite the recessionary setbacks suffered by the global employment market, the Indian Institute of Management Kozhikode (IIMK) showed a marginal growth of 7 per cent in the average annual salary offered to its graduates during the final placement, the details of which was released here on Monday.
The highest international salary (cost to the company) offered was 150,000 US dollars, while the maximum domestic salary (CTC) on offer was Rs.32 lakhs. According to the information released from the office of placements at the institute, as many as 135 companies participated in the placement process registering an impressive growth of 47 per cent comparing to the last year. With a strength of 317 students in the outgoing batch the institute secured 2.6 offers per company to its students.
According to the placement cell sources, the recruiters were from a wide range of companies spanning across Multinationals, Small and Medium Enterprises and privately held companies. “The highlight of the placement season was the large number of PPOs offered and the senior management roles, both of which re-emphasized the stellar brand image enjoyed by IIMK in industry,” it said.
Besides the regular recruiters such as the Deutsche Bank, Nomura, Goldman Sachs, ICICI, Deloitte Consulting, HUL, ITC, Cognizant, Wipro Consulting and Amazon, this year also saw a good number of new companies hiring from IIMK resulting in increased number of first time recruiters.
Many medium sized companies such as MAQ software, V2 Solutions, Neudesic and Mind Matters participated in the placement process for the first time and offered senior managerial positions to students with relevant work experience. The highest salary offered on campus was by a European based Investment bank and the average salary per student saw a marginal rise of 7 per cent over last year. The international offers were given by a few firms in the marketing and operations verticals.
PSUs made their presence felt on campus through the regulator RBI and financial behemoth UTI. Oil and power sector PSUs also visited recruiting some of the best talent from IIMK. Among them were ONGC, PFC, Power Grid and Bank of India. PSUs were the preferred jobs for groups of students who wanted to try out a government job.
According to the release, the alumni played an integral role in this year’s placements by ensuring participation of some of the best companies in the industry in the placement process. They also made it a point to themselves travel with the company on many occasions and play an active role in on-campus recruitment.
While the general management and operations sector saw a huge jump of more than 30 per cent rise in average CTC, consulting and finance saw double digit growth in the average CTC. This was the result of a conscious effort to bring in roles and salaries that are mutually beneficial to companies and students, said the release.
