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Business News/ News / India/  Top B-schools see robust placement season

Top B-schools see robust placement season

While B-schools are getting good offers, the salary packages may not see a huge jump compared to last year

IIM Lucknow has completed its placements successfully

Placement at the top B-schools, including some Indian Institutes of Management (IIMs), have started on a robust note despite the covid-19 impact on businesses and on the overall employment environment.

IIM Lucknow and IIM Kozhikode have completed their placements successfully, while other IIMs and private B- schools, such as IIM Indore, IIM Rohtak, XLRI Jamshedpur, Bhavan’s SPJIMR (formerly known as S .P. Jain Institute of Management and Research) in Mumbai and Birla Institute of Management and Technology (BIMTECH), said they have finished or are on the verge of completing the final placement process.

B-schools said consulting, banking and financials, and IT, are making good offers this year, but the salary packages may not see a huge jump compared to last year. Most top B-schools had completed their hiring in 2020 before the national lockdown was effected in March.

“We all know that this is a tough year but we are doing better than expected. Within a week or so, we are hoping to complete the placement process. We have worked hard and reached out to recruiters," IIM Rohtak director Dheeraj Sharma said.

IIM Indore said it is going to complete placements in a week. Final placements at IIMs in Ahmedabad, Bangalore, and Kolkata are expected to start in March.

“Five months ago, we were very apprehensive about final placements but now we realise that the placement process is going far better than our expectations. So far we have placed 77% of our students," said Harivansh Chatrurvedi, director, BIMTECH, Greater Noida. Chaturvedi, however, said the average salary will remain flat or be marginally higher than last year.

The average salary ( 22.5 lakh) at IIM Kozhikode for the outgoing batch this year was nearly 5% lower than last year, though the top 50% students have bagged an average annual package of 28.9 lakh per annum, up 8.1% from last year. Bhavan’s SPJIMR said the average annual salary (cost-to-company) this year was 25.86 lakh per annum, almost similar to the levels reported in 2020.

However, IIM Lucknow and XLRI Jamshedpur saw average pays increasing marginally. At IIM Lucknow it was up by almost 7% and at XLRI, the average salary went up by 3%.

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