The Hindu Business Line : ISB grads bag salary packages above Rs 1 cr

Indian School of Business (ISB) students have notched up good placements for the year, with the highest salary offer made being $2,33,800 (approximately Rs 1.04 crore).

In the Class of 2006, four graduates bagged offers of over $2,00,000 (Rs 90 lakh). Awoman student garnered a job with a salary package of Rs 1.01 crore ($2,23,400).

Global offer

In tune with the buoyant global economy and rising salaries, the average international salary offer for the ISB students has been pegged at Rs 53.50 lakh (about $1,20,700), showing a jump of 21 per cent over 2005.

In India, the highest domestic salary was Rs 30.33 lakh and the average Indian salary was Rs 11.77 lakh, reflecting an increase of 18 per cent. While the average salary package of the Class of 2006 students was approximately Rs 5.2 lakh per annum at the time of joining, the offer package now is approximately Rs 11.7 lakh.

Addressing a press conference here today, the Dean of ISB, Mr M.R. Rao, said: "We are witness to exciting times and the rolling placement has been gratifying. This year marks a difference where Indian companies are offering global positions."

The Class of 2006 has 345 students, of which 328 participated in placements process. The recruiters included EDS, Tishmen Speyer, Mittal Steel, ITC and HLL, among 145 companies and consulting companies.

About 41 per cent of the recruits were in consultancy and management areas.

Refusing to divulge the names of the students who got the highest salary packages or the companies that made the offer, Mr Rao said, "As a matter of policy we do not give out names of the students offered the highest salary or the corporate where he/she is joining."

Driving factor

What distinguishes ISB from other B-schools is a good number of them take to lateral hiring and potentially shift career path. For instance, a doctor has become a management consultant, someone from Indian Navy has become a Chief Operating Officer of a healthcare company and a student with Indian Air Force background has opted for a career in automotive industry, he said.

Shilpa Bijoria, a student, said: "We received a lot of encouragement at the ISB. My stint here has offered me an ideal platform to move on to a leadership role. I am excited at the avenues that have opened up for me."

Bhaskar, who left a lucrative career in the US and opted to pursue a management programme at the ISB, has chosen to work for the Apollo group, in the rural initiative.

"When I have a challenging career in India, I felt this would be a better option than to work in a foreign soil."