Global slowdown has taken its toll on the country''s top B-School the Indian Institute of Management-Ahmedabad (IIM-A) with average salaries coming down by 25%.
However, despite the Wall Street collapse leading to a financial meltdown, the finance sector recruited the highest number of students (39%) followed by consulting 24% and marketing 13% from the 265-strong batch.
A press conference is being addressed by IIm-A director Dr Samir Barua in Ahmedabad.
The placement week that had to be extended by 2-3 days because of the slowdown saw 109 companies coming in for placements with 95 of them picking up the country’s best management talent.
Though the institute missed Lehman Brothers and other top i-banks, finance sector did not disappoint, with first time recruiter Union Bank of India recruiting 18 students, the highest number recruited by any company, followed by Jaypee Capital, again a first time recruiter, which hired 12 students.
While Bain & Co hired 8 grads, McKinsey recruited 8 and Boston Consultants hired 7 students from the institute. Frost & Sullivan, again a first-timer recruited as many as 5 students.
Although the highest offer is not known yet, the Slot Zero, the placement slot reserved for elite recruiters, hired as many as 34% of the 2007-09 batch. It is learnt that many students received crore-plus salaries in this slot.
Last year, a record high salary of Rs 1.44 crore was offered to an IIM-A grad. The average salaries last year, were in the range of Rs 16-18 lakh.
This year the domestic offers are in the range of Rs 12-17 lakh while average international offers stood at $83,000 (excluding bonus).
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