The salary offers made to students of many a business school in the campus placements this year have fallen short of expectations even as there has been a discernible increase in the number of offers made.

And the situation in the premier business schools is no better.

According to reliable information, many students of the Indian School of Business (ISB) landed offers of less than Rs 10 lakh per annum.

In a marked shift, ISB has departed from the tradition of announcing the average international and domestic cost-to-company (CTC) of its students, while announcing the campus placement details of the graduating class of 2011 last week.

When asked why the average CTC was not disclosed this year, the Dean, Ajit Rangnekar, had just this to say: “I place a lot less emphasis on placements than the world outside does. I am far more concerned about what long-term careers my students get.''

Apparently, management graduates will have to wait to see the kind of packages that were offered in 2008, before the effects of the global economic slowdown ate into the huge pay packets.

The average domestic CTC package of Rs 19 lakh and international CTC of $144,812 offered at ISB in 2008 have not been achieved so far.

In 2009 and 2010, the average domestic CTC was Rs 15 lakh and Rs 16.47 lakh respectively, while the international CTC was $119,022 and $129, 275 respectively.

The trend in other business schools is similar. “In the placements for over 2,509 students in all the campuses of Icfai Business School (IBS), we have observed that the salaries have gone up by 20-25 per cent compared to last year,'' S. K. Sharma, Director (Development), IBS, told Business Line .

“The average salaries of the class of 2011 are almost at the same level as the Class of 2008,'' he said. The average salary this year stood at about Rs 6 lakh.

IBS students were mostly absorbed in sectors such as banking, financial services and insurance, IT and ITeS, media & research, infrastructure, retail, telecom, FMCG and manufacturing, he added.

OFFERS INCREASE

The good news, however, is the increase in the number of job offers made this year compared to the previous year. The 66 students at the Indian Institute of Management - Shillong bagged 69 offers from 24 companies, with a mean salary of Rs 12.36 lakh per annum.

“This marked an increase of 20 per cent over last year,'' said a functionary of IIM-Shillong. The highest international offer was at Rs 30 lakh per annum, while domestically it stood at Rs 18 lakh per annum.

At ISB too, the number of offers managed to beat the record figure of 2008. The 552 students got 661 offers from 310 companies this year.

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