A rush of offers from old and new recruiters, 10-15% hikes in average salaries, more international offers and the charge of the e-commerce brigade are marking the return of good times on campus. The country’s top business schools, including the likes of MDI Gurgaon, SPJIMR,IIFT, XIM Bhubaneswar, NMIMS, WeSchool and SIBM, Pune are revelling in the best final placements in recent years.
“We had anticipated a good year but what we got was beyond expectations. Several recruiters who had come to campus had to go back empty-handed,“ says Kanwal Kapil, chairperson, placements at MDI Gurgaon. A 338-strong batch went into placements at MDI last week, including some 71 who already had pre-placement offers. At the end of a hectic first day, only five students were left to be placed, says Kapil. “It was crazy.“
Reflecting the upbeat business sentiment, recruiters are wooing talent with pay packages that have gone up by up to 20-25% as compared to last year. Conglomerates such as RIL, the Mahindra Group and the Tata Group are reportedly paying upwards of . 17-20 lakh while banking majors including ` Citibank and HSBC are paying between . 17.5 lakh and ` ` . 18 lakh. Goldman Sachs is offering between ` . 30 lakh and ` . 32 lakh; ICICI Bank is offering around ` . 14.5 lakh.
Citi India is visiting top-rated business schools apart from the IIMs for the Management Associate and Experienced Management Associate programmes for candidates with work experience. “Our hiring numbers are between 63 and 65 students,“ says Sarab Preet Singh, head of recruitment, learning and development.
In the consumer space, companies including P&G, Asian Paints, Godrej, Marico, HUL and Colgate-Palmolive are shelling out between ` . 18 lakh and ` . 23 lakh while consulting major BCG is offering over ` . 26 lakh.
Salaries from EY range between ` . 16 lakh and `. 20 lakh and from Infosys, between ` . 13 lakh and ` . 21 lakh.
From the buzzing e-commerce domain, Flipkart is paying around ` . 17 lakh; Snapdeal.`22 lakh-plus, while Amazon is offering up to `. 29 lakh for product roles. Depending on the relevant experience, salaries could go up further; the variable component is often additional.
“Given the rapid growth in the e-commerce industry, it is imperative to look at innovative talent from various Bschools. To bridge this growing demand for talent, we are planning to hire close to 150 candidates from Bschools this year,“ says Surinder Bhagat, senior director -HR at Flipkart. Of this, anywhere between 100 and 112 students will be from non-IIMs alone. Last year, the company’s total intake across all Bschools was at 110. Management students are being hired across various functions like supply chain, product marketing, technology automation, analytics, business finance and HR and will go through a management trainee programme.
Like Flipkart, many other companies are also stepping up hiring. At WE School, for instance, Infosys has taken 36 students this year as compared to 11 last year. At SP Jain Institute of Management and Research, several first-timers on campus have hired in good numbers, says Sonali Kohli Mehra, deputy chairperson -external relations, PGDM at the institute. First-timers at SPJIMR including SAP, the Future Group, Bharti Retail, Godrej and Snapdeal have hired around 7-8 students each, some going up to double digits. At MDI, Snapdeal and Flipkart together hired around 42 students.
Besides a 40-50% average increase in the number of pre-placement offers (PPOs) across institutes, top salaries have also surged. At IIFT, there has been a 20% rise in the highest compensation offered, while at XIM Bhubaneswar, where placements are still on, the highest salary so far has been . 20.5 lakh from HindustanCoca Cola Bever` ages, as compared to last year’s highest of ` . 18 lakh from the same company.
International placements have picked up as well. IIFT -where the top salary from a US company is at $1,10,000 -has 13 foreign offers across locations such as Beijing, Melbourne, San Francisco, Dubai, Moscow, Bangkok, Singapore and Nigeria from recruiters such as Louis Dreyfus, Glencore, AluZinc Asia, Phoenix Commodities and Vital Solutions Singapore. Two German companies made the highest offers at MDI Gurgaon; at SPJIMR, a UAE-based financial consulting firm making its debut on campus offered the top salary of ` . 29.5 lakh.
SIBM Pune saw a talent war being waged with a number of students being made multiple offers, says R Raman, director. Average package at the institute has shot up to . 13 lakh from ` ` . 11.71 lakh last time.
The highest international and domestic offers are at `. 31 lakh and ` . 22 lakhrespectively as compared to ` . 28 lakh and ` . 19.33 lakh last year.
Close to 70 companies participated in the placement process.
At NMIMS’ Mumbai campus, where final placements are still on, the institute expects participation from around 125 companies including 45 first-timers. Leadership and strategy profiles are being offered apart from the usual ones, and students have received over 170 PPOsPPIs.
Source: The Economic Times