IIM Visakhapatnam Placement 2023: Completes 100% Placement with 6% rise in Average Salary at Rs.15.47 LPA; IT & Consulting Top Recruiting Sector with 34% share in Placement 2023

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Updated on January 25, 2023
IIM Visakhapatnam, one of the 7 newest IIMs which started operation with first batch in 2015, has completed 100% placement 2023 registering a 6% rise in average salary which has gone up at Rs.15.47 LPA from Rs.14.6 LPA last year. The highest salary has gone up by 36% at Rs.32 LPA from Rs.23.5 LPA last year. IT & Consulting sector hired 33% students in the placement season for the 2021-23 batch
IIM Visakhapatnam placement 2023

Recording yet again 100% placement to its credit, IIM Visakhapatnam has completed final placement 2023 with 6% rise in average salary and 36% rise in highest salary for the graduating 7th batch of MBA 2021-23 students. Average salary at IIM Visakhapatnam has gone up at Rs.15.47 LPA for freshers and Rs.17.21 LPA for experienced candidates. The highest salary has gone up at Rs.32 LPA showing no impact of slowdown. IT & Consulting sector hired maximum number of 34% students in the placement season for the batch 2021-23.  

With superior all-round performance, the student cohort lived up to the high expectations and landed plum offers in rich profiles and niche roles, from renowned 100+ companies that made placement offers in placement process 2023 of IIM Visakhapatnam.

On the successful and buoyant Placement 2023, Dr. M Chandrasekhar, Director, IIM Visakhapatnam, said, “Full credit goes to our students who put in a fantastic performance and helped us surpass the high-record of the previous year. Proving perceptions wrong about the extra challenges they might face on account of their being a relatively fresh cohort, our students demonstrated that the solid academic grounding they received at IIMV and the valuable experience they gained during summer internships, are more than a match.  

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IIM-Visakhapatnam Placement 2023: Key Highlights

  • 100% Placement for the PGP 2021-23 Batch
  • Average Salary has gone up by 6% at Rs.15.47 LPA in Placement 2023 from Rs.14.60 LPA last year
  • Average salary for experienced candidates has gone up at Rs.17.21 LPA
  • Highest Salary has gone up by 36% at Rs.32 LPA in Placement 2023 from Rs.23.50 LPA last year
  • Average Salary of Top 10% has gone up by 13% at Rs.22.72 LPA from Rs.20.13 LPA last year
  • Average Salary of Top 25% has gone up by 11% at Rs.20.02 LPA from Rs.18.07 LPA last year
  • Average Salary of Top 50% has gone up at by 7% at Rs.17.94 LPA from Rs.16.7 LPA last year
  • 100 Companies, with 61 new companies, Participated in Placement 2023
  • IT & Consulting emerged as the top Recruiting sector with 34% students getting Placement offers
  • Top Recruiters include Amazon, Adani Group, Accenture, Reliance Retail, Cognizant, Deloitte, Infosys among others.

This is the seventh batch at IIM Visakhapatnam and the placements at IIM Vizag have surpassed many long established top B-schools who are yet to complete their final placement 2023. Despite the increasing competition, the IIMV students have shown robust performance in attracting the country’s premier companies. The industry has offered diverse profiles and niche roles.

The Post Graduate Programme (PGP) at Indian Institute of Management (IIM) Visakhapatnam is the flagship management programme leading to MBA degree after successful completion.  Recruiters have reposed continued faith in IIM Visakhapatnam.  The placement season witnessed more than 100 companies participating in the process and making multiple offers with 61 new recruiters offering roles across various domains, including Consulting, BFSI, Strategy, Sales & Markeng, HR, IT & Analytics.

Key Placement Trends at IIM Visakhapatnam
Continuing the legacy of the record of completing 100% final placement, IIM Visakhapatnam, one of the 7 newest IIMs which started operation with first batch in 2015-16, has reported yet again 100% placement with high average salary for the PGP 2021-23 batch. Last five year placement trends are shared below:

IIM Vizag Placement Year
Average Salary (Rs. In lakhs)
Highest Salary (Rs. In lakhs)
IIMV Placement 2023
15.47
32.00
IIMV Placement 2022
14.60
23.50
IIMV Placement 2021
12.62
20.82
IIMV Placement 2020
13.08
27.00
IIMV Placement 2019
12.61
22.00
IIMV Placement 2018
12.07
--

Source: IIM Visakhapatnam

Top Recruiters
The continued trust and confidence reposed in the students of the Institute resulted in several top-notch recruiters hiring this year too.  ABSYZ Inc, Accenture, Adani Group, Airtel Payments, Amara Raja Group, Amazon, Amul, Anand Rathi, ArcelorMittal, AUSF Bank, Axis Bank, Bosch, Bandhan Bank, Brillio, Cognizant, Comviva, Crompton, Deloitte, EY India, Factspan, , Future Generali, Haldiram, HCL, HDFC Bank, ICICI Bank,, ICICI Lombard, ICICI Prudential, Infosys, Integrace Health, Invesco, KPMG, LatentView Analytics, Mahindra Logistics, MTR Foods, Poonawalla Housing Finance, Quadrant, Reliance Retail, SBI Capital, State Street, TAFE, TATA Advanced Systems, TVS Motors, Ultra Tech, Whirlpool, Wildcraft, YES Bank, , Zetwerk, 3i Infotech were among the top recruiters.

iim visakhapatnam

Sectoral Placement
Accounting for 34% placements, the IT & Consulting emerged as the top recruiting sector. The width of placements was divided into following sectors:

  • IT & Consulting: 34%
  • BFSI : 26%
  • Manufacturing: 14%
  • Retail: 5%
  • FMCG: 4%
  • E-Commerce: 3%
  • Others: 9%

Roles Offered
The students of IIM Visakhapatnam were offered roles across various domains, including Consulting, Strategy, Finance, Product Management, Analytics, Brand Management, Marketing, HR and IT among others.

On successful placement 2023, Dr Chandrasekhar, Director praised the institute’s faculty, the Career Development Services (CDS) and the PlaceCom teams for their invaluable mentorship and said, “Our faculty's subject knowledge, research strengths, experience-based teaching, training, coaching and mentoring are a great combination in capaciting the students to realize their true potential.”

IIM Visakhapatnam Batch Profile
IIM Visakhapatnam PGP 2021-23 batch has good number of students with work experience, good male-female ratio, good number of students representing other academic than only engineering. Key details of the batch are:

  • Batch size: 189 Students
  • Gender Diversity: There are 70% Male and  30% Female students in the 2021-23 batch of IIM Vizag
  • Cultural Diversity: The students represent 21 States of India in the batch 2021-23

Academic Diversity
Students representing diverse academics are shared below:

Academic Discipline
Percentage of students to total batch
Engineering
39%
Commerce
25%
Arts
  7%
Business Administration
15%
Science
12%
Others
  2%
Total
100%

Work Experience
The PGP 2021-23 batch at IIM Visakhapatnam has good number of students with work experience as detailed below

Students with work experience
32%
Freshers
68%

IIM Visakhapatnam is the one among the 7 newest IIMs that have completed the Final Placement for the PGP batch 2021-23. The achievement is more significant as IIM Visakhapatnam has been able to place its students across companies, sectors and industries, before their convocation.

IIM Visakhapatnam came into being in 2015 as one of the 6 IIMs announced in the Union Budget 2014. While 5 of the 6 IIMs got finalized in the Budget 2014, the fate of IIM Visakhapatnam took the final shape in the Budget 2015 till then it remained a Government Ordinance entity. IIM Bangalore is the mentor to IIM Visakhapatnam. The temporary campus at IIM Visakhapatnam doesn’t have on campus hostel accommodation and candidates are accommodated to off campus hostel accommodation.

Classes at IIM Visakhapatnam are held at the premises allotted to it at Andhra University campus and will continue at the temporary campus till the 300 acre campus of IIM Visakhapatnam gets ready.

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