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With B-schools witnessing a robust round of placements this year, it seems that once again the MBA degree is the top choice for students wishing to pursue higher education. Salaries offered during the placement process at many B-schools have risen by more than 20 per cent this year and the recruitments (many of them high-paying) wrapped up in 3-5 days, despite large batch sizes.
The average domestic salary at Delhi-based Indian Institute of Foreign Trade was up 24 per cent, while the highest salary offered for the batch of 254 students was over ₹1 crore ($150,000) for an international role.
“Economic indicators and GDP growth rate paint a very optimistic view about opportunities in India. Corporates are now hiring in large numbers from B-schools,” said AF Mathew, Chairperson, Placements at IIM Kozhikode. At ₹17.1 lakh, the average domestic offer grew 12 per cent in 2016. The highest domestic package was ₹37 lakh.
E-commerce hiring spreeThough most start-ups refrained from hiring big, many established e-commerce players, such as Amazon and Uber, hired in large numbers from IMT Ghaziabad.
“E-commerce hiring grew by nearly 28 per cent, one of the largest growth figures in any sector this placement cycle,” said Vishal Goyal, Group Head-Corporate Relations, IMT Ghaziabad and Dubai. The salary range offered is ₹8 lakh to ₹13.5 lakh.
Hiring up in manufacturingAnother trend in the making is a boost in hiring from the manufacturing sector. Offers from the sector at Delhi-based IMI increased by 33 per cent this year.
Among those companies that recruited for manufacturing roles were General Motors and Hero MotoCorp, said Manaswini Acharya, Professor of Marketing & Dean (Placements & Corporate Relations) at IMI-New Delhi.
“Considering the trend of multiple offers, students have been asked not to accept offers of less than ₹7 lakh, but wait for a better opportunity,” a statement by Delhi-based FORE School of Management said.
Newer IIMs that were struggling with placements have also bounced back this year, with better offers extended to students.
The average salary at IIM-Rohtak, for instance, grew by 12.5 per cent this year, at ₹11.78 lakh.
With IIM Ahmedabad gearing up for its cluster cohort placement process, the numbers are only going to get better. Cluster 1 will start from February 13 while clusters 2, 3 and 4 are scheduled on February 16, 19 and 21 respectively.
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