New Delhi: Mumbai-based Narsee Monjee Institute of Management Studies said on Thursday that it had placed its Class of 2009 of 417 students in jobs by extending its academic year by almost a month. Narsee Monjee usually ends its academic year in March, followed by a convocation in April.
“Very early in January, the university took a decision to extend the term to April to ensure that all students get placed,” said a statement released by the business school.
The highest on-campus salary offer dropped one-fourth from Rs24 lakh per year in 2008 to Rs18 lakh in 2009 while the average annual salary declined 10.5% from Rs11.4 lakh to Rs10.2 lakh this year.
Business schools faced a tough placements season as Wall Street recruiters stayed away after a year of financial turmoil in the US and Indian companies hired conservatively amid an economic slowdown.