IIM Bangalore Placement 2023: Emerges Highest Average Salary B-school at Rs.35.31 LPA; 512 Students get 606 Offers; Consulting with BCG, Accenture, Bain & Co, as Top Recruiters Emerges Top Recruiting Domain

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MBAUniverse.com News Desk |
May 2, 2023
IIM Bangalore completed final placement for the class 2023 in two days early this year for the large batch of 512 students getting 606 offers from marquee companies. The salary data, released now reflect sharp rise in average salary which has gone up at Rs.35.31 LPA, highest so far, among all the top B-schools in India. Consulting emerged as the top recruiting segment with 221 offers. Accenture, Boston Consulting Group, Bain & Company, TCS rolled out large number of offers
IIM Bangalore Placement 2023

IIM Bangalore has completed Placement 2023 for the large batch of  512 students of PGP and PGP-Business Analytics in just two days. 606 placement offers were rolled out to 512 students by the marquee companies from across all sectors and domains. IIM Bangalore has registered an average salary of Rs.35.31 lakhs in Placements 2023 and has emerged as the top B-school to have registered such highest average salary in India so far including IIMs, FMS, ISB, MDI, SPJIMR, XLRI among others. However, IIM Ahmedabad placement data is still awaited. A quick comparative placement analysis of IIM Bangalore Viz a Viz other top IIMs and B-Schools is shared below:

IIM Bangalore Vs Other Top B-Schools MBA Placements 2023: Analysis

MBA College by Average Salary
Average Salary 2022
Average Salary 2023
IIM Bangalore
Rs. 33.82 LPA
Rs. 35.31 LPA
Rs. 34.20 LPA
Rs. 35.07 LPA
Rs. 32.40 LPA
Rs. 34.10 LPA
ISB Hyderabad
Rs. 34.08 LPA
Rs. 34.21 LPA
Rs. 32.80 LPA
Rs. 32.05 LPA
Rs. 33.02 LPA
XLRI Jamshedpur
Rs. 30.07 LPA
Rs. 32.70 LPA
Rs. 31.03 LPA
Rs. 32.20 LPA
Rs. 29.50 LPA
Rs. 31.02 LPA
IIM Indore
Rs. 25.01 LPA
Rs. 30.21 LPA
IIFT Delhi & Kolkata
Rs. 25.16 LPA
Rs. 29.10 LPA
Rs. 25.93 LPA
Rs. 28.88 LPA
MDI Gurgaon
Rs. 26.65 LPA
Rs. 27.67 LPA
TISS Mumbai
Rs. 23.97 LPA
Rs. 27.22 LPA
IIM Shillong
Rs. 23.10 LPA
Rs. 26.96 LPA
Rs. 20.40 LPA
Rs. 23.83 LPA
IIM Raipur
Rs. 17.73 LPA
Rs. 21.04 LPA
IIM Tiruchirappalli
Rs. 17.00 LPA
Rs. 20.55 LPA

Source: MBAUniverse.com Analysis

Placement 2023 at IIM Bangalore included both Lateral and Final Placements for the PGP and PGP-BA class of 2023. IIM Bangalore did not   share the salary data for the placement 2023 at the time of completion of placement process and as per the practice, the placement salary data has now been released by IIM Bangalore on its website. Consulting with 221 offers emerged as the top recruiting domain in IIM Bangalore placements 2023. Accenture led the domain with 32 offers, followed by Boston Consulting Group with 26 offers. 

On the successful completion of Placements 2023, Professor Debolina Dutta, Chairperson, Career Development Services, IIM Bangalore, said: “Our students received offers from reputed companies despite a slowdown in the market. The large number of pre-placement offers that were made to our students, after their summer internship, is proof of the calibre and potential of our students. We are confident that they will shine in all spheres and make the Institute proud.”

IIM Bangalore Placements 2023: Highlights

  • 100% Placement achieved in 2 days
  • 512 students get 612 offers from top recruiters
  • Average salary goes up at Rs.35.31 LPA in Placement 2023 from Rs.33.82 LPA Last year
  • Median Salary goes up at Rs.33 LPA in Placement 2023 from Rs.31.20 LPA last year
  • No. of PPOs Made increased to 291 in Placement 2023 from 273 last year
  • No. of PPOs accepted also goes up at 209 in Placement 2023 from 181 last year
  • Number of Companies participated in IIMB final Placement 2023: 164
  • Lateral placement offers Made: 94
  • Lateral Placement offers accepted: 82
  • International offers made were 14 in IIMB placements 2023
  • Number of offers made during the Final Placement Week: 221
  • Consulting with 221 offers emerged as the top recruiting domain
  • Highest 40 offers were made in Management Consulting
  • Maximum number of offers made by BCG- 26; Bain & Co- 22; Accenture-22

IIM Bangalore Placements 2023: Key Trends
This year the placement process witnessed the participation of 512 students at IIM Bangalore. See key trends in placement offers during last seven years at IIM Bangalore:

IIM Bangalore Placement year
Number of students participating in placement
Number of placement offers made by companies
Placement 2023
Placement 2022
Placement 2021
Placement 2020
Placement 2019
Placement 2018
Placement 2017

Source: MBAUniverse.com Research & Analysis

Sectoral Placement at IIM Bangalore
IIM Bangalore students of class 2023 were recruited broadly in Consulting, Finance, IT, E-commerce, Sales & Marketing, General Management, Analytics and Operations areas. Consulting like last year has again emerged as the largest recruiting sector with 221 offers. Kapil Kukreja, Placement Representative, said: “We witnessed yet another excellent Placement season with an increase in offers across all sectors, driven primarily by Consulting and Product Management roles. Strategy Consulting continued to be the most sought-after role among the students, followed by General Management and Product Management.”

Detailed analysis of Sectoral placement 2023 at IIM Bangalore is shared below.

Consulting: Biggest Recruiting Domain with 221 Offers
Consulting companies emerged as the top recruiting sector in IIM Bangalore placement 2023.

Consulting Company
No. of offers made
Boston Consulting Group
Accenture Strategy CN (22); Accenture Strategy IMU (7)
Bain & Company
McKinsey & Company
Tata Consultancy Services
Ernst & Young
Alvarez & Marsal
Arthur D. Little,  EY-Parthenon Singapore
  3 Each
Monitor Deloitte
Strategy & Middle East
GEP Consulting, Samagra Consulting, Strategy & India
  4 Each
Oliver Wyman
Amazon - AWS Consulting
Other consulting firms

IT & Product Management: 85 Offers
Prominent recruiters in the Information Technology and Product Management domain, who made 85 offers are 

IT Sector Company
No. of offers made
Jio Platform
NatWest Group
Amagi Labs; BrowserStack; Tata Play; UHG-Optum; Zomato
  3 each
Myntra; NoBroker; Publicis Sapient; Tekion; ZEE Entertainment Atlassian; Google; Info Edge; Razorpay 
  2 each
Other Companies in IT/Product Management

Conglomerates: 86 Offers
Conglomerates recruited for their leadership tracks making 86 offers in General Management positions

No. of offers made
Adani Group; Vedanta
8 Each
Lodha Group
RPG Group; CK Birla; Brillio; Tata Steel
4 Each
Calgemini; Infosys Europe; NPCI; Reliance Industries; Tata Administrative Services
3 Each
Bajaj Finserv; Gyansys; IIFL; Sun Pharma; Visa Inc
2 Each
Aditya Birla Group; Emaar Group; JSW
1 Each

Finance: 75 Offers
IIM Bangalore students received 75 offers in Finance domain. Top recruiters in this domain include:

Finance Domain Company
No. of Offers
Goldman Sachs
Kotak Mahindra
Avendus Capital; Citibank
5 Each
IDFC First Bank; Piramal Retail Finance
4 Each
Barclays; HSBC Bank
3 each
Essar Capital; ICICI Bank; India Infoline Securities; Kotak Investment Advisor; Red Fort Capital; Standard Chartered
2 each
Arpwood Capital; Blackstone; BNP Paribas; Gaja Capital; Macquarie Group; Morgan Stanley; Multiples Equity; Piramal Alternatives; Premji Invest
1 Each
Others leading Financial Institutions

Sales & Marketing: 67 Offers
Major consumer companies rolled out 67 offers to IIM Bangalore students. Top recruiters in this domain with number of offers include:

No. of offers
Asian Paints
Samsung India
Navi; Nestle
4 each
ITC; Mondelez International; Procter & Gamble; Xanadu
3 each
Alkem Laboratories; Coca Cola; Haleon; HCCB; IBM; Mastercard; Pidilite; Pingsafe; Tata Play; Tata Steel; Wipro Consumer Care
2 each
Airtel; Colgate Palmolive; Dabur; Hindustan Unilever; Kimberly Clark; Philips India
1 each

Analytics: 35 Offers
Analytics sector rolled out 35 offers in total with American Express leading with 16 offers. Key recruiters are:

No. of offers
American Express
Capital One; Cargill
  2 each
Other Companies

E-Commerce: 22 Offers
In e-commerce space, following leading companies made lucrative offers to IIM Bangalore students:

E-Commerce company
No. of offers made

Operations: 15 Offers
Some of the top recruiters offered roles in Operations. They include:

Ola Electric
NatWest Group
Delhivery; Five Holdings
1 each

Many companies made pre placement offers in the range of one to four PPOs

International Placements 2023 at IIM Bangalore
Many companies from abroad also participated in IIM Bangalore placements 2023 and recruited 14 students. Bhagyalaxmi, Manager, Career Development Services at IIM Bangalore, said: “This season also witnessed the participation of companies from overseas locations like Europe, Dubai and Singapore with offers across Consulting, Finance and Business Strategy roles.”

IIM Bangalore Placements 2022
Highlights of IIM Bangalore placement season 2022 for the 2020-22 batch are shared below

IIM Bangalore Placement 2022: Highlights
IIM Bangalore conducted final placement 2022 virtually, both for recruiters and students in view of the Covid-19 pandemic situation. Key highlights in IIM Bangalore Placements 2022 are

  • Average Salary goes up by 17% at Rs.33.82 LPA in Placement 2022 from Rs. 28.98 LPA last year
  • Median Salary in Placement 2022 stood at Rs.31.20 LPA
  • Placement 2022 got over in 2 days with 100% placement offers
  • 37% Increase in Placement offers
  • Large Batch Size of 524 students
  • 11 Students Opted out
  • 513 students got 662 offers
  • 137 top recruiters participated in Placement 2022
  • Pre Placement Offers (PPO) made 273
  • PPOs Accepted: 181
  • International Placement offers: 6
  • With 248 offers, Consulting emerged as top recruiting domain. Accenture was the top recruiter with 51 offers
  • Top recruiters included Accenture, BCG, Kearney, Bain & Company, McKinsey, Microsoft, RPG Group, Goldman Sachs, Avendus Capital, EY, HUL among others

IIM Bangalore Placement 2022 Salary Data
Apart from consistently achieving 100% placements in a short time of two days, the placement compensation packages at IIM Bangalore are on the rise year after year. The placement 2022 salary data, as released by IIM Bangalore after completion of audit and previous salary data for IIMB Placements are shared below   

IIM Bangalore Placement Year
Placement 2022
Placement 2021
Placement 2020
Average Salary (Domestic)
Average Salary (International)
Median Salary (Domestic)
Median Salary (International)

Source: IIM Bangalore Placement Reports

Strong Placements for 1st MBA Analytics Batch 2020-22
MBA program in Business Analytics was introduced by IIM Bangalore in 2020, and the first batch  graduated in 2022. Number of top companies made placement offers to the students of IIM Bangalore Business Analytics programme

No. of offers
American Express
Accenture; Goldman Sachs;  McKinsey and Company;
 4 each
EY; Microsoft; Paytm; Oracle
 2 each
ADL; Adobe; Allegro Capital; Alvarez and Marsal; ANZ; BCG; Cashfree; EXL Service; Kotak Mahindra; OLA; Uber; Wells Fargo 
 1 each

IIM Bangalore is an autonomous, standalone management school and not part of any university. It was established in 1973 by the Government of India through the creation of an IIMB Society which is the legal entity behind the institution. The school works within the national policy guidelines established by the Ministry of Human Resource Development, Government of India. It is amongst the top management schools in India and Asia according to several rankings. IIMB has been re-accredited by European Quality Improvement System (EQUIS).

IIM Bangalore is the first B-School in Asia to sign an agreement with Harvard Business Publishing (HBP) to distribute faculty teaching cases. IIMB has also entered into a partnership with Richard Ivey School of Business to co-brand and distribute faculty-authored cases globally.

Stay tuned to MBAUniverse.com for more updates on IIM Bangalore  

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