ISB grads double their salaries; average Indian salary up at Rs 19 lakhs

Placements 2008 at ISB saw record-breaking salary offers made to 422 graduates. The average domestic salary offered at ISB this year is Rs 19 lakhs. This was more than double the average salary of ISB grads before they entered the institute a year back, which stood at Rs 7.19 lakhs.

The average salary offered by international recruiters at ISB was much higher. The averages salary offer for jobs in US is $ 138, 614; in Europe is $ 156, 658; in Asia pacific is $ 145, 607; in Middle East is $ 125, 389. The comprehensive average of all international offers is $ 144, 812.

Placements at ISB drew a lot of international recruiters. In fact, the number of recruiters jumped by 100%. Said Mr Ajit Rangnekar, Deputy Dean of ISB, ISB placements this year are phenomenal, especially in terms of increasing number of international offers. There are several leading and niche international companies visiting the campus. There is 100% jump in international offers over last year. 41 new international companies visited the ISB campus for the first time.
The 111 international offers were made to ISB grads, spread across 23 cities across USA, Europe, Middle East, and the Asia Pacific.

In a departure from past, ISB took a decision of highlighting overall placement trends and sharing an overall picture of the student performance during the placements season. This year institute has decided not to disclose its highest salary. Mr Rangnekar, told MBAUniverse.com, We have decided not to disclose the highest salaries offered at ISB because it can be misleading, especially when the international salaries are converted into Indian currency.

Graduating students have used the ISB experience to find better job profiles and functions. While all ISB students had prior work experience, as many as 81% students made career shifts after their programme. ISB says that this is the highest percentage of career shifts at the ISB so far. Of the 81% career shifts, 50% were shifts both in function and industry, 21% were career shifts in function and the remaining 10% were shifts in industry.

Another notable trend at ISB this year was the placements offered for women candidates. The Class of 2008 had 25% women. The 106 strong women students at the ISB have received several senior roles across industries. Their CTC increased three times over after completing the ISB programme. At the time of joining the ISB the average CTC of the women students was Rs 5,18,540. They received CTCs, which averages to Rs 16, 44,328. Ive received a very interesting offer and have also made a radical shift from journalism to telcom marketing, says Arti Kothari, Class 2008. It has been phenomenal year for me.

Several ISBians, who met at the institute, have decided to chart new path for themselves. Four groups of students are starting new companies; four of them were founded on the ISB campus this year. The new ventures are spread across various industries such as Nano Technology, Financial Services, Knowledge Process Outsourcing and Contract Research.

Speaking to MBAUniverse.com, Mr Rangnekar said, ISB is producing more entrepreneurs with 12 to 15 students opting out of placements.

Happy with results achieved by ISB in Placements 08, Mr Ajit Rangnekar said, We are very proud that the ISB has grown steadily year after year in every aspect. Our Placement record this year is testimony to the fact that ISB students are highly sought after by industries across the world.