Summer placements pick up at B-schools, salaries rise 15-20%
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New Delhi: The summer placement season in business schools started on a positive note with some wrapping up the process in under three days and recruiters offering 15-20% higher salaries than last year.
The salaries will only improve once the Indian Institutes of Management (IIMs) start their placements, analysts tracking business schools said.
“We completed the summer placement of over 300 students in just two-and-a-half days,” said Kanwal Kapil, professor in charge of placements at Management Development Institute (MDI), Gurgaon.
XLRI Jamshedpur completed its summer placements in three days and New Delhi-based Indian Institute of Foreign Trade (IIFT) finished the process in under four days.
The International Management Institute (IMI) in New Delhi, run by the RP-Sanjiv Goenka Group, said it is almost through with its process.
Summer placements are a precursor to the final placements at campuses and indicative of the jobs environment in the country.
“We have seen a good number of companies hiring in double digits and that’s perhaps the reason why B-schools are completing the process faster,” said Pinaki Dasgupta, dean of placements at IMI.
As many as 50 students of the 2015-17 batch have bagged pre-placement offers, up from 37 last year, he said.
The average salary packages have risen 15% this year, said Dasgupta, similar to the increases seen at IIFT and Birla Institute of Management and Technology in Greater Noida.
MDI said salaries offered rose more than 20% in the current placement season.
Companies from financial services, information technology and consulting sectors have been the most active recruiters this year.
“We have not seen much traction from start-ups and e-commerce segments,” said Kapil of MDI.
At IMI, consulting firm Capgemini, technology firms Genpact and Wipro Ltd, Axis Bank Ltd and Asian Paints Ltd were the leading recruiters. At IIFT, investment bank Goldman Sachs Group Inc., JP Morgan Chase and Co., Citibank, Axis Bank and Google Inc. were the top recruiters.
“You will continue to see banking, consulting and IT sectors leading in campus recruitment. The manufacturing sector will pick up over a period of time but the larger start-up space will remain dormant due to their focus on profitability rather than pure expansion,” said Anidya Mallick, partner at consulting firm Deloitte Touche Tohmatsu India Llp.