The Hindu Business Line : Big offers for IIT Madras management grads

New Delhi, Jan. 14 The techies were always in demand from the hallowed portals of IITs. However, this year the management programme at IIT Madras is also attracting big ticket multinationals. The highest foreign offer stood at $65,000 per annum.

The average domestic salary at its B-school registered a 8.9 per cent jump at Rs 8.5 lakh per annum this year as against Rs 7.8 lakh last year.

Of the 35 companies that came calling at the campus, at least 25 companies lapped up students in the first three days itself. The current batch consists of 61 students.

For the second year in a row, the IITM’s Department of Management Studies (DoMS) saw participation from Barclay and CSEM (UAE) among others. Last year, Bloomberg topped the list and had made salary offerings of $90,000 a year.

Lehman Brothers, Fidelity, Deloitte, MarketRx, Irevna, Aranca and Firstsource were some of the key new recruiters this year. IBM, KPMG, Wipro, Infosys and MarketRx made the highest number of offers.

The offers were made in investment banking, equity research, valuation services, banking operations, business consultancy, project management, modern trade sales, operations research, supply chain management and IT advisory.

“The number of offers made from the domestic market companies was 76, while four offers were made by foreign companies. The number of lateral offers stood at 22,” Prof L.S. Ganesh, Head of Department (Management), IITM, told Business Line.

The highest domestic salary offered was Rs 14 lakh per annum, while the median salary stood at Rs 8 lakh per annum.

Caterpillar, Schlumberger and Henkel picked up students for marketing and supply chain management profiles, while MarketRx, Hewlett Packard and Genpact chose students for roles in analytics. Several students bagged multiple offers. No particular sector or profile could be seen as dominating the placements. With the batch having a significant proportion of prior work experience, a large number of students received lateral offers from companies such as Avalon, Deloitte, Wipro, IBM, and Infosys. On an average, the number of offers per student stood at 1.48, Faculty Coordinator (Placements), DoMS at the IITM, Ms Sanghamitra Bhattacharya added.

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