Hyderabad: The Indian School of Business (ISB) on Friday said a significantly higher number of companies participated in student hirings at its Hyderabad and Mohali campuses this placement season, led by technology and consulting firms.
ISB’s 2013 placement season began in December and will end next month. So far, 421 companies have taken part, an increase of 21% over last year, offering 798 jobs, up 27%, to students of the school’s flagship post graduate programme in management.
ISB said the annual average salary offered to the 2013 batch students was similar to last year. The average annual salary for the middle 80% of the 2012 batch was Rs.18.83 lakh. ISB refused to reveal the highest salary offered in the latest season.
Demand for ISB students rose despite slowing economic growth, which is estimated by the government to have slumped to a decade’s low of 5% in the year ended 31 March, showing that graduates of top business schools are prized by recruiters. But tier-II and tier-III institutes are still struggling to find jobs for their graduates.
“Across the board it is not such a hunky-dory situation,” said Sangeeta Lala, senior vice-president and head of sourcing at Teamlease Services Pvt. Ltd, a recruitment firm. “Placement officers of tier-II business schools are coming back to recruiting firms like us and are asking us to bring our clients to (their) campus, or are sharing student database with us to place their students.”
ISB graduates have higher pay packets than the industry as students enter the school with relatively more experience. As a result, the average pay packet for the top 10% of the class is Rs.15-18 lakh, compared with Rs.8-12 lakh for other tier-I business schools, Lala said.
“In an economy which is not doing well, companies may not recruit in large numbers but will go after high level of talent. Our model is different, the experience level of our batch is 5 years on average, and the range of experience is between 2 years to about 20 years. This opens up a range of roles and functions across the industry,” said V.K. Menon, senior director of admissions and placements at ISB.
Of the 762 students in the 2013 batch of ISB, 21 opted out of the placement process to start their own ventures, return to their companies or join their family businesses, ISB said. So far, 72 students have got international placements.
Technology and consulting firms emerged the biggest hirers, contributing nearly two-thirds of the job offers.
Around 300 offers, or 38%, came from 53 technology companies including Apple Inc, Cognizant Technology Solutions Corp, Facebook Inc, Google Inc, HCL Technologies Ltd, Hewlett-Packard Co., International Business Machines Corp., Microsoft Corp. and Wipro Ltd.
About 30 consulting firms including AT Kearney Inc., Accenture Plc, Booz and Co., Boston Consulting Group, Deloitte Touche Tohmatsu Ltd, Ernst and Young, KPMG, McKinsey and Co. Inc and PwC made 163 job offers.
Hiring by banking, financial services and insurance companies revived, ISB said, with several leading banks and financial institutions making 75 offers on campus. Companies included Citibank NA, Delta Partners FZ-Llc, Goldman Sachs group Inc, HSBC Holdings Plc, ICICI Bank Ltd, Standard Chartered Plc, UBS AG and Yes Bank Ltd.
Consulting and sales and marketing emerged as the two most-preferred functional areas for ISB graduates, attracting nearly 50% of the total students.
The 2013 batch size of ISB increased 45% from 528 students last year due to the addition of the campus in Mohali.
“Both campuses needed to be integrated in making sure that the recruiters had access to the students of both the campuses, as well as students had access to all recruiters that came to ISB,” said Deepak Chandra, deputy dean at ISB. “The integrated approach helped us reaching out to large number of recruiters.”