NEW DELHI :
B-schools are witnessing a strong beginning to the final placement season, after the Indian Institutes of Technology reported a strong season, and a couple of Indian Institutes of Management (IIMs) announced that they have placed all their outgoing students.
IIM Lucknow and IIM Kozhikode have announced the completion of the placement process in just five days. Top private schools, including Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research (SPJIMR), Mumbai, Indian School of Business (ISB) in Hyderabad and Mohali, and the International Management Institute (IMI) and Fore School of Management in New Delhi, have either completed the process or are on the verge of doing so.
Leading B-schools said the average salary offer was up by 7% to 15% from the last placement season. IIM-Kozhikode said that the average salary packages increased from ₹20.6 lakh per annum in 2019 to ₹23.08 lakh per annum. The B-school said in an email that its outgoing batch of 413 students was absorbed by 131 recruiters. At SPJIMR, the average salary was ₹26.36 lakh per annum, growing 15% from the last season.
IIM Lucknow said its batch of 443 students was placed in more than 100 firms with an average salary of ₹24.25 lakh per annum.
At ISB, the average annual salary offered this year was ₹26.15 lakh per annum.
The final placement processes at IIM-A, IIM-B and IIM-C will start in February.
Other IIMs and private B-schools, including IIM Indore, IIM Rohtak, Birla Institute of Management Technology (BIMTECH), and the Indian Institute of Foreign Trade (IIFT), were also witnessing good initial response from recruiters.
Strategy and consulting, banking and financials, and information technology (IT) firms have been the top recruiters. At ISB, consulting firms made 22.75% of the total offers, while IT and IT-enabled services sectors made 15% of the total offers. At IIM Lucknow, strategy and consulting jobs were taken up by 32% of the students, operations and IT jobs went to 24%, and finance firms made 19% offers.
At IIM Kozhikode at least 29% of the offers were made by consulting firms. At IMI Delhi consulting firms and IT (including e-commerce) companies made 56% of the total offers (28% each).
The ongoing placement season is “reflective of" what “quality B-schools such as IIM-Kozhikode have achieved over the years" in terms of talent credibility, said Debashis Chatterjee, director, IIM Kozhikode.
The top recruiters at B-school campuses include Accenture, Amazon, Cisco, Reliance Jio, Bain and Company, Boston Consulting Group, Dalberg, Deloitte India, E&Y, KPMG, McKinsey & Co, Flipkart, PWC India, Avendus Capital, Royal Bank of Scotland, Siemens Management Consulting and ZS Associates, Goldman Sachs, Microsoft, Nomura, Uber, GE Healthcare, Asian Paints, Bajaj Auto and Google.
The robust beginning to an eventful placement season in B-schools, however, does not reflect the overall jobs market in India. If anything, it reflects the upcoming appraisal season in private organizations, besides highlighting that companies are ready to pay a premium to attract quality talent from top institutions even amid a tough employment scenario. Recent government data shows that India is facing a four-decade high unemployment rate and job creation has not been able to keep pace with market demand.