Final Placements 08: IIM-A grads net record salaries; average salary up by 30%

The placements for Post Graduate Programme in Management (PGP) were held from March 6 to March 11. In all over 90 top firms participated in the process.
With the backdrop of adverse market conditions, salaries offered at IIM-A has exceeded all expectations. The average domestic salary this year was a high Rs 17.85 lakhs, a whopping 30% jump from the last years package. The average international salary too was a high $ 1,19,000.
The highest international packages ranged from $ 280,000 to $ 360,000 depending on minimums and bonus. The highest domestic packages were in the range of Rs 50 lakhs to Rs 70 lakhs.
IIM-A shares that 65 % of students got placed at the end of coveted day-zero, which saw 25 firms recruit the brightest managerial talent.
Financial Institutions bullish
Inspite of tough business sentiments amongst the financial sector in western markets, as many as 113 students out of 255 students opted to join the financial sector. IIM-A says that at the time when hiring is virtually on freeze in global institutions, IIM-A students have still got their dream jobs as they are the preferred lot amongst global B-schools. Major banks to recruit at IIM-A this year include the likes of Goldman Sachs, Lehman Brothers, Morgan Stanley, Merill Lynch amongst others. In addition, twelve students have chosen to join private equity players.
Consulting majors hire big
In a break from the past, consulting emerged as the major preferred destination at IIM-A. For the first time, many of the coveted consulting companies offered international placements in USA and Europe. Consulting major Monitor group and Oliver Wyman made their debut at IIM-A, and had 9 and 5 hires respectively. McKinsey, Bain, BCG were other big recruiters.
India on top
Indian recruiters were a major draw at IIM-A placements this year. IIM-A says that many students chose to be in India, inspite of fancied jobs in international markets. Says IIM-A, Increasing preference for Indian firms and locations in a major trend at IIM-A this year. Increased salary packages offered by Indian firms have led to large number of students opting for Indian firms over MNCs.
Entrepreneurs thrive
As many as eleven talented young people opting out of the placement system to start their own ventures, the trend of taking this less traveled road has grown stronger. These students have plans to start their ventures in areas as diverse as logistics, manufacturing, advertising, finance and agro-processing in addition to information technology.