Placements culminated with the Class of 2008 achieving an average salary of Rs 14.83 lac per annum, a rise of 26% over last year's figure. The highest domestic salary at IIM-K shot up by 28% to Rs 29 lac per annum. The highest international salary recorded a phenomenal 60% jump, capping at USD 175,000 per annum by an Oil & Gas conglomerate.
According to information shared by IIM-K with MBAUniverse.com, 105 premier recruiters from around the globe participated at Final Placements 2008, with 45 initiating a recruiting relationship with IIMK this year. 178 students participating at Final Placements 2008 were successful in bagging no less than 402 jobs during placements season, shattering all past records.
Further, a total of 23 international offers were made on campus, with plum roles based out of the US, Europe, Middle East, Latin America, & South-East Asia.
"Building on the spectacular success of the Lateral Placements Program, the most powerful theme at Final Placements 2008 was recruiter satisfaction with the quality of talent at IIMK – a phenomenon which led more firms to make more offers across diverse profiles" says Dr. Kulbhushan Balooni, the Chairperson-Placements at IIMK.
An important trend emerging from IIM-K was that students choose job profile over salary. Keeping in mind long term career growth prospects, close to 20% of the batch elected to accept slightly lesser paying roles out of the multiple offers available to them, choosing role over pay. 90% of the batch signed out with offers well in excess of Rs 10 lac and above.
International placements touched new heights with Arthur D Little, Dresdner Kleinwort, KPMG, Microsoft, Olam International, Oliver Wyman, OCBC Bank, & Reuters participating in placements for the first time at IIM-K.
IIM-K strengthened its equity amongst consulting firms with top consulting firms such as McKinsey & Co., Accenture Business Consulting, Arthur D. Little, Oliver Wyman, Stern Stewart & Co., Deloitte & Touche, E&Y, KPMG, and PricewaterhouseCoopers participating in Placements 2008. According to IIM-K, Accenture Business Consulting made the highest number of offers across campuses at IIMK.
Deloitte & Touche and PricewaterhouseCoopers strengthened their relationship with IIM-K, recruiting for 4 divisions each. Accenture HP, GrowTalent and Hewitt Associates recruited for HR consulting from IIMK for the first time. 25% of the Class of 2008 accepted offers in consulting.
The Banking and Financial Services sector remained a strong favorite among students and saw a significant jump in activity this year with 36% of the batch being offered plum roles at top corporations. Investment Banking and Private Equity were the top choice for students looking for a career in finance. AIG PE, Deutsche Bank, Edelweiss Capital, Goldman Sachs, J.P. Morgan, Lehman Brothers, o3 Capital, Reliance Capital, & Reliance Venture Fund were some of the recruiters who made offers which were snapped up by the students in this space.
Diverse banking profiles were offered by the leading MNC banks such as ABN AMRO, American Express, Bank of America, Barclays Plc, Citibank, HSBC, and Standard Chartered. Bank of America PAG recruited exclusively from IIMK. The India growth story was well represented with ICICI, Kotak, SEBI, and Yes Bank making a large number of offers. GE Commercial Finance and ICRA recruited for credit risk management. Roles on offer this year included Asset Management, Corporate Finance, Corporate Banking, Credit Risk Management, Derivatives Structuring, Hedge Fund Management, Private Equity, and Treasury.
In the Marketing function with no less than 22% of the Class of 2008 bagging top drawer marketing profiles. Students received offers from HUL, Nestle, Asian Paints, Britannia, Castrol, Colgate-Palmolive, Dabur, Himalaya, ITC, Marico, NIIT, Raymond, & Reckitt Benckiser amongst others. Media and Pharma found special favor among the students with recruiters such as DRL, Johnson & Johnson, NDTV, Pfizer, SET, & Times Group participating in Placements 2008.
Google continued its relationship with IIMK by offering Product Manager and Sales roles. Global telecom majors such as Aricent and Verizon recruited for the first time from IIM-K making a large number of offers. Infosys showed its faith in the Systems talent at IIM-K by making no less than 4 offers for their much sought after Global Engagement Manager role. The Institute also continued to strengthen ties with traditional recruiters such as Cognizant, Exl, Genpact, HCL, Indus Valley Partners, Satyam, TCS, and Wipro. 9% of the batch accepted offers in the IT/ITES domain. Profiles on offer in this space included Account Manager, Business Development Manager, Product Manager, and Program Manager, amongst others.
The sunrise retail sector was well represented with Bharti, Essar, Raymond, Reliance and RPG recruiting a large number of students for their retail lines. Operations, HR and General Management accounted for 8% of the roles that were accepted at Final Placements 2008.
Buoyed by success of its placement season, IIM-K says, "The sheer number and diversity of roles on offer during Final Placements 2008 and the number of participating recruiters signal IIMK's emergence as a rich training ground that moulds tomorrow's business leaders, and a preferred hunting ground for industry. Consistently challenging itself to break new frontiers and push the envelope further, IIMK is truly redefining the moniker – the Next Generation IIM."
Established in 1996, IIMK is in its twelfth year of imparting management education to feed the growing demand for quality managerial talent.
