New Delhi: Average salaries for jobs in India offered to the graduating batch of Indian Institute of Management, Ahmedabad (IIM-A) rose nearly 23% from last year to an annual Rs14.94 lakh, mirroring an improving economic environment.
Average domestic salaries dropped 32% last year to Rs12.17 lakh as Indian economic growth slowed and US and Europe battled a financial crisis that plunged economies in the West into recession.
IIM-A said in a statement late on Wednesday that it had concluded its on-campus placements for the class of 2010. Of the 289 students, 280 accepted job offers, with four opting out of the process and five deciding to turn entrepreneurs.
India’s premier B-school said around 20 firms offered roles in the consulting space, recruiting 29% of the batch. At least 27% of the batch joined banking and financial services.
“As compared to last year that saw almost no presence of investment banks for final placements, this year saw i-banks extending offers both through PPOs (pre-placement offers) and final placements,” said the school in the statement.
“While Morgan Stanley, Goldman Sachs, UBS, Deutsche Bank and Citigroup were among the major recruiters to extend offers through the PPO route, we saw JPMorgan, Merrill Lynch, HSBC and Nomura participate in the final process,” the statement said.