IIM-C grad bags Rs 1.6cr offer

Updated on: Wednesday, March 10, 2010

Kolkata: Indian Institute of Management-Calcutta (IIM-C) has turned out to be the first choice of recruiters with the best pay packets in this year’s campus placements.

One of its students has bagged a record $350,000 (Rs 1.6 crore) offer from a global investment bank based in South East Asia and two more have been offered packages of over Rs 1 crore.

What’s more, IIM-C got 91 slot-zero offers (when the largest firms give out the best salaries). That’s the highest among all IIMs on Day 1 and 2, say sources. IIM-Bangalore, the second best, is way behind with 64 offers, and IIM Ahmedabad students got 50 offers during the first two days of placements based on the newly introduced ‘cohort system’. These figures exclude preplacement offers.

The three in the crore-plus bracket will join as associates of investment banks in London and Singapore. There were initial hints that IIM-Ahmedabad had bagged the highest offer of Rs 1.44 crore while IIM-Bangalore’s best pay packet was Rs 1.14 crore this year. Later, sources in IIM-C confirmed that one of its students has bagged the highest offer — a staggering Rs 1.6 crore a year. The highest domestic package bagged by an IIMC student is more than Rs 60 lakh annually for an I-bank’s Mumbai office.

Officials, however, refused to confirm the figures or reveal the names of the students.

The IIM-C placement process kicked off on Saturday, with financial bigwigs and global consulting firms opening the account. UBS, the Swiss investment bank, hired exclusively from IIM-C. Temasek Holdings, the investment arm of the Singapore government, drew the largest number of its recruits from IIM-C compared to other B-schools in the country. So did Oliver Wyman, a US-based consulting firm, which hired IIM-C students for its offices in New York, London, Singapore and Dubai.

IIM-C grad bags Rs 1.6cr offer

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