MBA campus recruitment comes close to ?07-08 boom

Updated on: Saturday, February 26, 2011

Management schools underwent the worst labour pains in the two years that went by. Year-end placements went on for months on end and some campuses had to face the embarrassment of not being able to place all their graduates. The testing time seems to have ended and campus recruitment at business schools came close to the 2007-08 boom.

At S P Jain Institute of Management, the average annual salary then was close to Rs 13 lakh; the average domestic salary for class of 2011 crossed Rs 14 lakh, said Sonali Kohli Mehra, faculty associate (external relations). “Seventeen new companies were seen on the campus .The market has definitely picked up and it was a challenge to manage 71 companies on the campus.”

The highest salary on the S P Jain campus this year was Rs 23 lakh, offered to two students; one from the finance course and the other from the information management programme.

At NMIMS too, placements concluded in a week and director Debashis Sanyal said most sectors were hiring in large numbers, except investment banking, which is probably a bit bearish even now. “Several companies that had frozen recruitment for some years are back. The IT sector has become niche. It recruited students for its insurance and banking verticals,” he added.

The average annual compensation is about Rs 13 lakh, and the entire batch of 390 students has been placed. While the highest salary was Rs 24 lakh a year, NMIMS had done a bit better in 2007, when the average campus salary was Rs 18 lakh.

The University of Mumbai’s Alkesh Dinesh Mody Institute for Financial and Management Studies saw most companies offer annual salaries ranging from Rs 3-5 lakh. “In 2009, two students were offered an annual compensation of Rs 6 lakh, which was the highest. This year, eight students have been offered that figure,” said director Rajesh Arora.

Placements are still on at the government-aided Jamnalal Bajaj Institute of Management Studies (JBIMS), where the average annual salary last year was Rs 12.83 lakh. The placement team’s spokesperson, Avni Jain, said the compensation was likely to go up by 15-20 per cent.

In 2008, however, the average annual salary was Rs 13.8 lakh. Close to 25 per cent of the batch received pre-placement offers and more than 100 companies registered to hire 120 students from JBIMS. “Most of our regular recruiters like McKinsey, Hindustan Unilever Ltd (HUL), Citibank, Procter & Gamble (P&G), ITC, Nomura, Reliance and Dabur have shown keen interest this year,” said Jain.

MBA campus recruitment comes close to ?07-08 boom

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